Yes, from what I can see there is a great market for their product. They also seem to be well positioned to capture a good percentage of market share. Management is experienced with over 15+ years in the industry.
From RedChip Factsheet
Recurring revenue from Software as a service(Saas)-based business model; serving large, unmet market need * 70% average gross margins * $80+ billion addressable global market today; forecasted to reach $150+ billion by 2020 * $400 million “obtainable” market in North America
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