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On 25 March 2019, Dragontail Systems Limited (ASX:DTS), an information technology company that is engaged into providing software solutions for optimizing restaurant operations, has announced that it has received a notification of the grant of a patent for its QT Quality Control Camera in the USA from USPTO, that will be released on or about April 9, 2019.
The QT camera uses artificial intelligence and channels the information collected by it for monitoring the food items scanned through it. The camera possesses features which provide an indication about the food quality and its suitability as per the store standards and the requirements set by the end-customers.
The patent that was granted for QT Camera as an apparatus to be used for monitoring food preparation. It also consists of an imager and a controller configured that will help in receiving the order related data showing ingredients along with their distribution on the food product.
Those customers who choose QT Camera as part of the food preparation cycle can experience immediate benefits. There will be an increase in the customer satisfaction as it will ensure that the food was prepared as per the set standards of the store and will also result in cost saving as only properly made food will be reaching to the end users.
Further, the QT Camera provides a snapshot on the display of the store within seconds. Thus, it acts as an effective management tool for controlling and monitoring the quality of the food in real time.
In Australia, the QT Camera is being deployed in hundreds of Quick Service Restaurant (QSR) stores. The fact that the company has received a license for its QT Camera in the US, is yet another achievement for the company as it is an addition to other markets. After a year of working with the USA patent office, the company was able to hold an official approval for the same.
On 1 March 2019, the company was successful in installing its products over more than 300 new stores in February 2019. This installation of products gives an indication of the companyâs potential pace at which it can grow month on month installations. There were two products that were installed which included the ALGO Dispatching platform as well as the artificial intelligence QT Camera which took place in Asia, North America and Australia.
For the year ended 31 December 2019, DTS reported an increase in the revenue from the ordinary activities by 350% to $1,074,676 as compared to its previous corresponding period. However, the net loss after tax increased by 51% to $7,041,539. The losses during the period were driven by the increased research and development expenses followed by increased operating expenses and general and administrative expenses.
On 24 January 2019, the company declared its Q4 results for the period ended 31 December 2018.
By the closure of the trading session on 25 March 2019, the closing price of the shares of DTS was A$0.190, up by 5.556% as compared to its previous closing price. Today, the stock is trading 5.26% down at A$0.180 (As at 1:05 PM AEST, 26 March 2019). The company has a market capitalization of A$47.12 million and approximately 248 million outstanding shares. In the previous six months, the stock has generated a decent return of 40.74%.
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