Sparc AI Inc (SPAI)

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17.5 cents Divvy to SPAI shareholders = A deferred cash consideration of $2.2-million in the event Eyefi Pty. is sold or divests part or all its assets or undertakes a capital raise or is in default;
A registered security charge over the assets of Eyefi until the $2.2-million is paid in full to the company;
A promissory note of $2.2-million issued by Eyefi to the company;

2.2 mil divided = 17.5 cents
The deferred cash consideration covered by the security charge will protect shareholders and when the $2.2-million is received by the company, the board plans to distribute these funds, subject to working capital requirements, as a dividend to Egti shareholders.
EGTI = SPAI today

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There are half a dozen products in Sparc AI's pipeline to be announced once they reach testing stage.

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older video but very good

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Sparc AI takes delivery of Coral microchips from Google

2024-04-22 18:42 ET - News Release
Shares issued 12,484,316
SPAI Close 2024-04-22 C$ 0.38

Mr. Anoosh Manzoori reports

SPARC AI TAKES DELIVERY OF MICROCHIPS

Sparc AI Inc. has taken delivery of the Coral microchips, accelerators and development board from Google.

Sparc AI has started embedding and integrating Sparc AI into the microchips.

Once the integration is complete, it will install the microchip onto a drone and record its first test flight to determine the location of distant objects without the use of GPS, Internet or satellite.

The test flight will be recorded and shared with shareholders by a news release.

About Sparc AI Inc.

Sparc AI has developed and patented the spatial predictive approximation and radial convolution. This includes proprietary algorithms that use proven mathematics to calculate the location of distant objects without using satellite, GPS or the Internet. Sparc AI is developing a range of geospatial products using its core Internet protocol and is also integrating these into a microchip to allow customers to activate Sparc AI on any of their camera device, including drones.

We seek Safe Harbor.

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GOOGLE Coral Chip SPARC Drone Integration Begins - YouTube

[apontem]

I'm currently in the process of streamlining my business operations and am on the lookout for the best software solutions to help me achieve this goal. I've heard a lot about ironclad customer service but I'm still not sure. What software do you use to manage your business, and what features do you find most beneficial?

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Sparc AI develops Interspace

2024-04-19 12:20 ET - News Release
Shares issued 12,484,316
SPAI Close 2024-04-18 C$ 0.395

Mr. Anoosh Manzoori, reports

SPARC AI PROVIDES AN UPDATE

Sparc AI Inc. has provided an update on operations.

Sparc AI recently announced the development of a new product, Interspace, that allows users to record the distance to any object located away from them.

Various factors determine how far a drone can fly, including the drone's battery life, the strength of its transmission system, the amount of lift it can generate as well as weather conditions along its flight path. Having successfully tested Interspace on the ground, Sparc AI plans to test the new product on drones to survey points of interest that are well beyond their distance range limits.

According to the Federal Aviation Federation in the United States, there are 780,226 drones registered. This does not include military drones or UAVs (unmanned aerial vehicles). If Interspace is successfully tested on drones, there may be a large market opportunity for Sparc AI. From Sparc AI's experience with fixed-camera devices installed on towers in forestry areas for bushfire and lighting detection, the company's algorithms performed extremely well at high altitude. Sparc AI is looking forward to reporting the outcomes of its trials.

Management is working to build a portfolio of geospatial products for the military and defence, situation awareness, reconnaissance, security, and commercial sectors. There are half a dozen products in Sparc AI's pipeline to be announced once they reach testing stage.

In GPS-denied (Global Positioning System) environments or situations where the GPS signals are not available, Sparc AI can record its geospatial data using its proprietary patented algorithms. Alternative GPS technologies for identifying locations are complex, expensive and may only provide approximate estimations. These solutions use gravity anomaly, magnetic anomaly, celestial and lidar technologies. They may also require connections to the Internet or satellite. Further, these systems appear to measure the location of the sensors only, unlike Sparc AI, which can measure the location of distant objects at different locations to the sensor.

The company is working to build its product portfolio for GPS-denied environments with no connectivity to satellite or Internet. As its core technology is software and proprietary algorithms, Sparc AI's solutions will also be covert and not identifiable by other sensors or radar.

Sparc AI plans to embed its technology into a microchip, with work already commenced to integrate into the Google Coral chip.

We seek Safe Harbor.

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News Release with even a video https://webfiles.thecse.com/SPARC_AI_expands_tech_to_measure_distance.pdf?yfv1NcIQPpdUmQUaur15sQp2L6gcZMdG

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posted with permission CEO

Anoosh Manzoori
2:29?PM (39 minutes ago)
to me

Hi Tony,

The company has 10 years of serious software engineering behind it and all the legal work for registering patents are also completed and paid in the past.

So we are in a fortunate position where we don't need a lot of capital. We have enough working capital to last well into 2025. We also have an R&D refund coming later in the year from the government which will also help. This was announced previously by the Company.

Also, none of us on the board take any salaries and we have no consultants. I run a tight fiscal policy and focus on shareholder returns.

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12.5 million shares insiders funds family friends own 5 million shares = People Pay Attention $$$$$$$$$$

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Discovery of Powerful Application for its SPARC Intellectual Property and Patents Involving Navigation of Autonomous Drones

https://ml.globenewswire.com/1.0/snippet/2458/eng

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Discovery of Powerful Application for its SPARC Intellectual Property and Patents Involving Navigation of Autonomous Drones

https://ml.globenewswire.com/1.0/snippet/2458/eng

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Multi-Billion Dollar Geospatial Intellectual Property Space https://ml.globenewswire.com/1.0/snippet/2434/eng

[Laster]

Nice play here. Low float. AI and drones.
Americans will catch on sooner or later but by then it will be over $1.00 US.
JMO.
Good call here RR.

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SPAI restructure 2.2 million Divvy to shareholders = The deferred cash consideration covered by the security charge will protect shareholders and when the $2.2-million is received by the company, the board plans to distribute these fund

A deferred cash consideration of $2.2-million in the event Eyefi Pty. is sold or divests part or all its assets or undertakes a capital raise or is in default;
A registered security charge over the assets of Eyefi until the $2.2-million is paid in full to the company;
A promissory note of $2.2-million issued by Eyefi to the company;
Eyefi is responsible for all liabilities and accounts payables of the company up to and including the close of the transaction;
The company has assigned a fully drawn loan facility (dated Nov. 29, 2022) of $222,578 to Eyefi. The loan has 10-per-cent interest and 15-per-cent penalty interest. The 592,105 warrants issued to the investor with an exercise price of 40 cents and expire on Nov. 25, 2024, have also been cancelled.

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Anoosh Manzoori


Chief Executive Officer at Shape Capital Chief Executive Officer at Shape Capital




I can't believe we have been sitting on this technology for years and never saw this opportunity!

We have a major breakthrough with SPARC AI. The SPARC AI patented algorithms can be used as an internal on-board navigation system for autonomous drones.

The SPARC records the Location Points (Px) of a drone’s flight path. The drone can use these Location Points to find the shortest path back to base or fly direct to any Location Point using the SPARC reverse lookup algorithm.

Drones can also use the SPARC virtual triangulation algorithm to create an accurate flight path to a Location Point or any other points of interest.

Eliminating the need for GPS, satellite, lidar or image recognition technology is a major differentiator and game changer.
Activate to view larger image,
Image preview

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The company is expecting to take delivery of the Coral microchips in April.

https://webfiles.thecse.com/SPARCAI_CSE_Form_7_-_March_Monthly_Progress_Report.pdf?dxT6_iUL78C4jzX_i7osMbr9872IJ7fG

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Digital Transformations Minister Mykhailo Fedorov earlier said that Ukraine will achieve its goal of producing 1 million drones per year in 2024. https://www.msn.com/en-ca/news/world/deputy-commander-drone-deliveries-to-front-line-this-year-already-3-times-higher-than-in-2023/ar-BB1lA6B8?ocid=msedgntp&cvid=f09e9e59f4e644b4804efd8b3f16758a&ei=33

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SPARC AI selects Google’s Coral as preferred platform for embedding geospatial code into microchips

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Military Drones Front and Center https://www.sparcai.co/investors EGTTF AKA SPAI in Canada target markets 375 billion

https://static1.squarespace.com/static/64a35575f2c81b7f74bb7d36/t/64d9c35a1e284e1bd9334661/1691992937981/SPARCAI_Presentation+2023.pdf