BrainChip Holdings Ltd

Decent Outlook: BrainChip Holdings Ltd.’s (ASX: BRN) stock tumbled 2.778 per cent on August 23, 2018, which may be owing to some profit booking. However, the company has a decent outlook ahead as it is targeted at high growth markets that represent a multi-billion-dollar opportunity. Following this, the company has recently launched the Akida Development Environment (ADE) which includes a data-to-spike converter for pixel-based vision systems and evolves as the Company works with early adoption customers to include incremental converters. Following the ADE announcement, the company intends to give an Architectural announcement which will include details of the Akida design and performance benchmark. As of now, the Company’s sales pipeline continues to grow and includes over 500 leads, 55 qualified opportunities, and 16 design wins. Moreover, the Company supports around 30 committed or active trials for which most are covered by Non-Disclosure Agreements. Based on foregoing, the company anticipates sales growth with OEMs, System Integrators and other partners in the next quarter.


Segment-wise market size (Source: Company Report)

On the financial front, Cash balance at 30 June 2018 was $ 11.9 million (vs. 31 March 2018: $13.09 million) with net operating cash outflow during the quarter ended 30 June 2018 of $1.91 million. Cash receipts for the period included receipts from customers totalling $301k for the quarter ending 30 June 2018. The current ratio substantially increased from 3.45x to 12.25x in FY17 over the last year. Moreover, BRN is also making efforts to improve its ROE. Hence, we maintain our “Speculative Buy” recommendation on the stock at the current market price of $0.175, considering ongoing developments which are underway.
 

OncoSil Medical Ltd

Decent Performance in FY18: OncoSil Medical Ltd.’s (ASX: OSL) stock climbed up 11.765 per cent on August 23, 2018 following the release of its financial results for the full year ended 30 June 2018 in which the company completed a number of milestones such as successfully completed the recruitment for its PanCO study globally, submitted a detailed clinical report on the required safety and performance data for the OncoSil device to the British Standards Institute (BSI), and fulfilled BSI’s supplemental data request with respect to our CE Mark application. Moreover, the company has successfully raised additional capital of $12.7 Mn via institutional placement during the period. On the financial front, the company for FY 18 reported 22.3% growth in revenues from ordinary activities to $ 4,592,503. However, loss for the Group after providing for income tax increased by 21.7% and amounted to $ 8,539,542 in FY 18 over the prior year. It was mainly impacted by higher R&D expenses and foreign exchange loss during the period. Meanwhile, OSL stock has risen 17.24 per cent in the past six months but down 20.93 per cent in the past one month as at August 22, 2018. Based on the foregoing and trading level, we maintain our “Speculative Buy” recommendation on the stock at the current market price of $0.190.
 

iSignthis Ltd

Achieved Certification for its JCB Card Acquiring Service Across the European Market: iSignthis Ltd.’s (ASX: ISX) stock climbed up 2.703 per cent on August 23, 2018 as the group has recently achieved certification for its JCB Card acquiring service in the European Economic Area (EEA). With this, the company is now able to accept payments from JCB cardholders for merchants through its ISXPay solution in the region. We assume that this will provide a new opportunity for its existing consumers who use the JCB card. However, the company has more than 100 million cards on the issue across the world. And, the group is additionally expanding its impression crosswise over Europe, the Middle East, and Africa, by growing its merchant acceptance network through its strategic partnerships. As per the release, there is a number of contracted merchants who are ready to switch on JCB acceptance. Over the next 2-6 weeks, the existing contracted merchants will be going progressively live, with an initial GPTV more than $50 Mn. The GPTV contribution by JCB acquiring will increase the Company’s total processed GPTV to more than $650 Mn, once the adjust of its Tier-1 facilities are live. Meanwhile, the share price has risen 27.59 per cent in the past six months but was down by 5.13 per cent in the past one week as at August 22, 2018. Based on ongoing development, we give a “Speculative Buy” recommendation on the stock at the current market price of $ 0.190.

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