Luke Laretive, CEO and Investment Advisor at Seneca Financial Solutions chats with Nadine & Andrew from ausbiz chatting about icetana (ASX: ICE). Check out the transcript and full video below.
“I think there’s a real opportunity for investors in icetana. It’s probably a little-known stock and had a pretty quiet float last year, but the code’s ICE, It’s about a 16 million market cap trading around $0.15 a share and they have a video analytics software that plugs into existing CCTV and security camera networks and utilise AI and machine learning, which I heard your previous guest talk on as a key theme.
They utilise that sort of knowledge to be able to analyse those images and pick up a range of problems that occur in security cameras that may be missed by regular monitoring, or as the cases with most of the security network which is just recording and unmonitored, icetana can alert security to those particular events. They have also actually picked up some contracts in the US in the prison system.
We think that’s a huge growth driver for them over the next two, three, four years. The US prison system’s a highly competitive and huge market, addressable market for them.
But it’s important to remember you know this has got applications for shopping centres. They’ve got clients like Crown in the casino sector. They’re utilising this technology at universities. Obviously with some of the safety issues, particularly on campus in the US that have occurred over the last couple of years. So you know they’ve got a range of applications and 12,000 cameras currently using the technology around the world, and we think that’s only going to grow with the market for video analytics growing at plus 20% per annum.”