Sensera Limited (ASX: SE1), based in Carlton, Australia, designs and manufactures hardware and software, across the vertical technology spectrum, including Micro-Electro-Mechanical Systems (MEMS) and sensors, as well as wireless networked systems and software. All of these combined provide an Internet of Things (IOT) solutions that transform real-time data into actionable insights mainly for animal wellness, mine safety and productivity, as well as healthcare markets.
The Company works in collaboration with companies in the med-tech, agricultural, mining and industrial segments.
Recently, on March 8th, the Company announced to have secured a firm commitment for AUD 3million of capital raising from the institutional and sophisticated investors.
Approximately 27.3 million new ordinary shares will be issued at $ 0.11 per share.
Of these, around 25.3 million new fully paid ordinary shares will be issued under the Company’s current placement capacity in accord with ASX Listing Rule 7.1. and the remaining 2.0 million new shares will be issued to the directors as reported.
The new Placement received a strong support and interest from the senior management, Directors, current shareholders and high-end investors.
Prior to this, in late February, Sensera also executed a debt agreement with a major investor and a director of the Company, to the amount of USD 1 million to fund the urgent requirement for additional working capital. The promissory note prescribes a term of one year for the short-term capital and a simple interest rate of 10%, payable quarterly along with an option of term extension.
On February 19th, Sensera and its Texas -based co-industry player ClearBlade, announced plans to jointly develop the 360° Edge Analytics platform solution, which is based on nanotron’s location-aware IoT sensors.
In the same month, the company pleasingly announced that its subsidiary Sensera Inc., which designs and manufactures high-performance sensors and modules, has launched chips for Point-of-Care and Lab-on-a-Chip applications as well as droplet microfluidic devices in partnership with newly engaged customers. They are designed to detect and measure specific biomarkers for diagnostic purposes. Besides, their application extends to quick investigation of DNA, nucleic acid samples, RNA, and proteins.
The new launch is a transformative technology in the microfluidics industry, which is growing at a compound annual growth rate (CAGR) of 15% in a USD 5 billion global market, estimated to reach triple the figure in the next seven years.
As per Sensera’s half yearly report for the six months to December 31st, 2018, the revenue from ordinary activities improved by 78.1%, rising to USD 3.695 million and the net loss after tax for the period attributable to members increased by 49.75 to USD 5.02 million. The net cash at hand stood at USD 441,851 at the end of the period. There were massive cash outflows from operating and investing activities amounting to USD 5.3 million and USD 2.3 million respectively. On the contrary, the financing activities resulted in net cash inflows of USD 6.06 million.
Sensera has a market capitalisation of AUD 30.53 million to date. With the end of trading session on March 8th, the SE1 stock price closed at AUD 0.125, up 13.64%, indicating an intra-day gain of AUD 0.015. However, today, the stock is trading at AUD 0.120, down 4% (as at 1:20 PM AEST, 11 March 2019).
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