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Ridercam takes the video to the world's roller coasters - listed on First North

Ridercam AB (publ)

Article translated from swedish 

http://www.investerarbrevet.se/?z=ridercam-tar-videon-till-varldens-berg-och-dalbanor-listas-pa-first-north-7358

The entertainment and event industry shows strong growth where new technology is one of the driving forces for increased sales. A company that benefits greatly from the development is Ridercam, which plans to list the company's shares on Nasdaq First North. The company's digital video system is installed at amusement parks around the world and more are on their way.
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The digitization of theme parks around the world is changing the conditions for the parks' sales considerably. Today, 30 per cent of the amusement parks' sales come from consumption in the park and 10 per cent of this comes from souvenir products in the form of still images. Noting current Ridercam is with its unique system solution and digital video technology right now in the world about delivering high resolution images and videos that are increasingly demanded.

- Our assessment is that the photo souvenir market is worth about SEK 9.6 billion per year and that it is growing, says Ridercams CEO Dominic Berger.

The experience in focus

Most people who have visited an amusement park and roller coaster have probably bought a picture of the experience, an image taken by a fixed camera. But in today's increasingly digitized world, video is the case. And that is exactly what Ridercams technology delivers. The movies from the ride come directly to the mobile and then it is just to share directly on social media.

- Amusement parks and visitors increasingly require video. The parks sell experiences and good memories and for that reason our system is a key to the success of the parks, says Berger and says that the company already has agreements with six theme parks around the world.

Ridercam has for ten years been working on developing a product and system solution that can withstand the great stresses that a modern roller coaster generates. Until just a few years ago, it was impossible to have cameras mounted on the wagons in a roller coaster. An ordinary action camera does not cope with the stresses it is exposed to and breaks due to vibrations and G forces. Filming yourself on board is no alternative, as it is both dangerous and prohibited.

Long-term collaboration with Kodak and Magic Memories

The photo souvenir industry is dominated by, among others, Kodak and Magic Memories, both of whom have chosen Ridercam as a partner for digital video production at attractions in vulnerable environments.


But Ridercam not only cooperates with existing photo souvenir sellers at the theme parks. The company has recently signed an agreement with Vekoma, which is the world's largest supplier of rides. This means that Ridercam can conclude agreements directly with amusement parks, and thus the margins are considerably improved. Direct agreements provide 45 percent of revenues against 20 percent in contracts with souvenir operators.

The fact that Ridercam recently made the decision to prioritize direct contracts thus leads to both higher earnings and a greater flexibility in the revenue model. Among other things, direct agreements mean that the theme parks are for service and maintenance of the systems.

Advertising gives increased revenue

The videos that are recorded are sold to the visitor for between SEK 50 and SEK 100, depending on the market and length of the recording. With Ridercams unique system, the films can also be supplemented with information about the attraction and contain information about other offers available in the amusement park.

In addition to this, Ridercam can offer various options to get visitors to order movies of their rides. By including external advertising messages in the films, another form of revenue is created for the theme parks.

- Everything that can drive advertising on social media is getting big. With external sponsorship, the interest will increase significantly, which makes the films cheaper and the profitability better, says Dominic Berger.

Exceeded the forecast by roughly

Ridercams first commercial video system was installed in November 2017 on a new roller coaster in Warner Brothers amusement park Movie World outside Brisbane, Australia. Ridercam had forecast a sale 375 videos sold the first month, it was 2 238.

The agreement in Brisbane has been concluded with Magic Memories and is a so-called second-hand contract, which meant that revenues for the first month stopped at SEK 53,000. If the agreement had instead been a so-called direct agreement, the revenues would have amounted to SEK 141,000.

- The difference between the various contracts becomes tangible, and this is one of the reasons why we prioritize direct contracts in the future, says Berger.


Ridercam has so far signed an agreement with six amusement parks about new installations. However, the company does not want to provide any profit forecast, but states that they will reach break-even at 15-20 installations. Positive cash flow, Ridercam, according to Dominic Berger, will be reached towards the end of 2020.


Ridercam is now applying for listing on Nasdaq First North and in connection with this, carries out a new issue of SEK 23 million. The emission proceeds shall in all essentials be used to increase the installation rate.


- The market for our product is well established and also growing strongly. We are currently the only ones who can deliver a functioning video system, ”says Berger.


Although Ridercam currently has full focus on video systems for amusement parks, the Ridercam manager emphasizes that they are far from being a single product company. Among other things, the company's camera technology can be used, for example, to film audience experiences at football matches and other events.

- We are a technology company that currently has full focus on the amusement park industry, but our technology can be used in many different environments, he concludes.

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Path Investments Plc Heads of Agreement with ARC Marlborough Pty Limited

Path Investments plc (TIDM: PATH) is pleased to announce that the Company has entered into a Heads of Agreement with ARC Marlborough Pty Limited (“ARC”) regarding the proposed acquisition of ARC by the Company (the "Proposed Transaction").

ARC is a privately owned, Australian incorporated company, that owns a mining tenement situated in Central Queensland, Australia.  ARC has relevant government approvals to mine Nickel, Cobalt and Chrysoprase at this tenement.

ARC proposes to develop its Nickel and Cobalt project (the “Project”) with the intention of producing and supplying high grade and specifically determined nickel and cobalt products for use in the rapidly expanding battery industry, such as Nickel Sulphate and Cobalt Sulphate.

To achieve that outcome, the Company proposes to adopt atmospheric leaching processes such as heap leaching or vat leaching, or a combination of both, with the intention of establishing a low cost, low CAPEX operation.

The Project ore is recoverable either at, or near surface, the resource having a very low strip ratio.  In working towards a positive Project outcome, RF West has produced a Scoping Study in respect of the Project and which has determined the general parameters for the Project.

It is now proposed to complete additional confirmatory drilling, infill drilling, and drilling to depth of about 40 additional drill holes for the purpose of upgrading the resource and the resource grades.  In addition, it is proposed to carry out bulk sampling and conduct metallurgical test work and leach tests.  Thereafter it is proposed to proceed with a Pre-Feasibility Study, followed by a Bankable Feasibility Study on the Project.

The Heads of Agreement

The Heads of Agreement envisages that the Company, by way of a Purchase Agreement, will acquire 100 per cent. of the equity share capital of ARC, including all the assets owned by ARC, through the issue of new ordinary shares of £0.001 each in the Company ("Ordinary Shares").

The Company has agreed an exclusivity period with ARC and expects to enter into a definitive Purchase Agreement on or before 28 February 2019.

Completion of the Proposed Transaction is conditional, inter alia, on the following:

  • the completion of confirmatory legal, financial and technical due diligence;
  • approval by the necessary authorities to the transfer of ARC’s assets to the Company;
  • an appropriate Purchase Agreement being entered into including customary warranties and representations;
  • any required shareholder consents being obtained (including a waiver of rule 9 of the City Code on Takeovers and Mergers);
  • in order to provide an appropriate level of working capital for the enlarged Company following the Proposed Transaction the Company intends to undertake an equity fundraising ("Placing") and
  • publication by the Company of a prospectus and readmission of the Company’s Ordinary Shares to trading on the Main Market of the London Stock Exchange.

Continued Suspension of trading

If completed, the Proposed Transaction would be classified as a reverse takeover in accordance with the Listing Rules of the Financial Conduct Authority.  Accordingly, the listing of the Ordinary Shares on the Standard Listed Segment of the Official List and trading in the Ordinary Shares on the Main Market of the London Stock Exchange will remain suspended.  If the Proposed Transaction completes, the Company intends to seek readmission to trading on the Main Market of the London Stock Exchange.

The parties intend to proceed as quickly as possible with the Proposed Transaction.  However, there can be no certainty that the Proposed Transaction will be successfully completed.

The Company will make further announcements in due course, as appropriate.

Christopher Theis, Chief Executive of Path, commented:  "We are delighted to have entered into the Heads of Terms with ARC.  We believe the Proposed Transaction is one that can deliver significant value for Path shareholders and we look forward to making further announcements in due course."

This announcement is inside information for the purposes of Article 7 of Regulation 596/2014.

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Britannia's Gold: Update November 2018

Britannia’s Gold Ltd

Following on from our last update distributed on the 12/11, the offshore team has continued operations in a bid to remove the hull plating above the desired strong room location. This has proven particularly difficult due to the plates physical properties which after analysis were found to be mild steel grade A. Grade A has the highest level of carbon content and makes for a very strong and brittle material; the rivets used to secure the plates together, as well as the structural framework of the vessel,  remain in extremely good condition and therefore give the overall hull structure a great deal of integrated strength.

Combined with adverse weather conditions halting operations at site for a couple of days, the above has meant the team has had difficulty in creating the necessary opening needed to gain access below. In total some 55m² of hull materials have been removed, giving partial exposure to the areas below but this is not large enough to work through.

Direct vertical access to the required location is always going to be best policy, however not always possible. Consequently, taking into consideration the difficulties to date and wanting to optimise  time at site, the salvage team has commenced cutting into the wreck from a different angle adjacent to the initial hull plate work area. The team is concentrating on removing overburden steelwork which is much easier to deal with due to its level of degradation; once cleared it will allow for a large horizontal access aperture to be made within the wreck. The grab is working efficiently at clearing this initial overburden with regular loads in excess of 20-tons being lifted and shifted.

It is difficult at this stage to put any precise time limit on clearing the area to allow for access as we don’t know what obstacles are under the large level of overburden and how they may still be connected to the wreck. At the current rate of removal, and without any unforeseen challenges, we estimate to take 3 days to complete the task and  will then be able to enter where we need to be to commence on the next phase of operations.

At last a substantial weather window has opened and the team are busy working round the clock in order to maximise every moment of available time.

Source: britanniasgold.com

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Britannia's Gold: Salvage Programme Progress Report 2

Britannia’s Gold Ltd

It has been a challenging week with repeated visits from Irish Navy, Air Force and Coast Guard questioning our activities.

Although BGL is legally within its rights to undertake salvage operations within international waters, the very rare nature of such operations does draw the attention of local authorities when a large salvage vessel shows up in their Exclusive Economic Zone (EEZ). In this instance BGL has been contacted by the controlling authorities for the region and asked to provide assurances that its operations are compliant with law and regulations as well as safe and without threat to the environment. We have been able to comply with all requests due to the company having a complete understanding of the relevant Acts and Regulations that apply to its operations and also having and maintaining a suitably equipped Safety Management System (SMS). Furthermore, BGL was happy to provide a full survey assessment to the local authorities, detailing the current status of the wreck.

Thankfully much of the time taken to agree all issues with the authorities occurred during a prolonged period of poor weather which had the salvage vessel on stand-by at location awaiting better conditions. Happily however,  the weather has since decreased and we have recommenced salvage operations with the full approval of the local authorities.

The single most difficult and time consuming part of this particular salvage operation is the breaking through of the outer hull plate; in this instance the hull plate is double thickness and the inner steel frames are  closer knit. This was needed as the vessel was sailing to Canada through Newfoundland and therefore needed to be strengthened to compensate for the ice it expected to encounter on a regular basis. We are making headway using specialist cutting equipment and structural removal work with our grabs and today, for the first time,  finally managed a glimpse inside the wreck through the worked aperture.

We still have a great deal of work to do but confidence remains high, driven on by the excitement brought about of recent developments.

 

More news to follow in due course…

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SITV makes strategic acquisition

Stockholm IT Ventures

STOCKHOLM IT VENTURES makes strategic acquisition and investment in Dubai based Blockchain Technology Capital

 

STOCKHOLM, SWEDEN (8 NOVEMBER 2018) – Stockholm IT Ventures AB (Frankfurt Stock Exchange: SVAB – ISIN SE 0006027546) has acquired BlockChain Technology Capital Limited, a Dubai based blockchain startup, in an equity swap plus cash deal. SITV is going through a major acquisition drive as it positions itself as a global leader in providing next generation blockchain based financial services.

Blockchain is delivering tremendous disruption in all industry verticals especially in the financial services industry. SITV have been very busy over the last 12 months in acquiring the relevant financial technology and regulatory infrastructure to build the next generation of financial services by becoming a bridge between traditional financial asset classes and blockchain.

“We were very impressed with the founding team and want they wanted to do with their business as it fully aligned to our vision and roadmap for SITV”. – states Anthony Norman – CEO SITV.

The acquisition of BlockChain Technology Capital further strengthens SITVs expertise in the area of blockchain development, product innovation and advisory, building a strong blockchain ecosystem that connects all parts of its business.

“We are excited to be part of the SITV group to accelerate the vision of making it a global leader in the next generation of blockchain based financial services”.  – states Mujassum Butt Co-Founder and Managing Partner Blockchain Technology Capital.

“The synergies between us and SITV our tremendous and now being part of the group will further help grow our client base and strengthen our value offering” – concludes Asim Khan – Co Founder and Managing Partner Blockchain Technology Capital.

Blockchain Technology Capital will now become part of the SITV Group of companies and will continue to be based in Dubai, UAE and its management team and operation are going to be fully integrated with SITV’s.
About Stockholm IT Ventures AB
Stockholm IT Ventures AB is a Swedish public company listed on the Frankfurt Stock Exchange since 2014 under the ticker symbol SVAB. The Company specialises in clean and efficient low-cost energy cryptocurrency mining, production and related FinTech and Blockchain technologies. For more information visit www.stockholmit.co. You can also find the Company on FacebookTwitter and LinkedIn. Details on the Company’s Bytemine (BYTM) token and White Paper can be found at www.bytemine.io.
Media Contact:
Stockholm IT Ventures AB, Anthony Norman, media@stockholmit.co

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Britannia's Gold: Current Salvage Operation Update

Britannia’s Gold Ltd

 

London 5 November,

On arrival at site, BGL conducted  as-found surveys of the target to confirm findings of the  survey visit in April. There were no changes which allowed for preliminary salvage operations to commence in the form of grab and ROV cutting saw works on the hull plating above the believed cargo location.

However it was noted that the grab was not operating at full efficiency and the primary ROV was not operating at full dexterity. With weather conditions closing in, it was decided to put into port to collect technicians and additional ROV equipment and carry out the repairs required to the ROV system and to also make some modifications to the grab. All this was done effectively and the vessel departed harbour within 15 hours of its arrival and headed out into sheltered waters to carry out tests on the upgraded ROV. With the weather remaining poor and seas of 10 metre swells, these tests continued throughout the weekend, inclusive of the vessel’s transit back to site. The vessel is now back on location in favourable weather and has recommenced salvage operations this morning 5th November. “

Initial teething problems can always be expected with the integration of new equipment onto existing vessels; the BGL team believes they have now overcome these issues and look forward to prolonged productivity at the wreck site.

Philip Reid

Britannia’s Gold Ltd.

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