Nice outlook per recent md&a
Outlook:
During the nine month period NovaTeqni developed the ID800 which is a smart camera for use in civil identification projects. NovaTeqni was awarded a contract by the United Nations to manufacture and supply this smart camera as part of the Company’s voter registration solution for Liberia. Along with the ID800 smart camera, the Company also supplied more than a thousand NovaTeqni designed solar power packs and high capacity battery packs. NovaTeqni provided technical support for the voter registration process on the ground in order to help boost local.
The ID800 smart camera has Sony optics, uses the Android operating system, has a 5” touch screen, contains software to capture high quality identity photographs and provides the ability to directly print ID cards. The smart camera is biometrics capable (face and fingerprint) and can perform a variety of elections, civil enrollment and identification related functions.
As previously reported, NovaTeqni is executing its strategy to develop and include standard products in its range of revenue earning solutions. Although the new ID800 smart camera was initially developed around civil enrollment, it’s range of applications is being broadened to make it into a standard product.
The company is increasingly focusing on the high growth Identification and Financial Technologies (“Fintech”) sectors which are well within the Company’s areas of expertise. The ID100 and the newly planned biometrics enabled Fintech sector solutions are all under development. The development of the standard off the shelf products is expected to result in new revenue streams at the end of 2017. The new Nova ZIPZIP payment solution includes a biometrics card holder identification option and is an example of an upcoming product under development.
During the nine month period the Company also completed development of and started demonstrations of a few new ID related products such as the Nova Smart Ballot Box and the new updated version of the ID250 robust biometrics mobile computer.
Production ready tooling for all of the above products still has to be completed.
In spite of the focus on standard products, the Company will continue undertaking special projects which include Request for Proposal based projects, as well bespoke solutions as requested.
The biometrics enabled, cloud based Malawi Farmers Management System has been completed and will soon commence Phase II of the rollout which will see the addition of new functionality, such as track and trace of produce right from the farm. The system can be modified for use in agricultural based application. Future added functionality will also include mobile payments.
NovaTeqni is still in the running with regards to some Request For Proposal based opportunities and the Company is bidding other tender based projects. Although these are big opportunities, NovaTeqni will continue to add standard products to its offerings to reduce the reliance on such projects.
