Yes, it’s a flip phone but you get the idea. Pic: DiMaggio/Kalish / The Image Bank via Getty Images.
ASX Tech Stocks: Underwater app for scuba divers and Silex successfully tests first full-scale laser system
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- Researchers develop underwater app for divers
- Silex tests first full-scale laser for GLE’s pilot facility in the US
- Nitro Software rejects unsolicited takeover bid from Potentia
Instead of using hand signals, there’s now new way for scuba divers to communicate underwater called the AquaApp.
Researchers at the University of Washington have developed a method that allows any of the billions of smartphones around the world to act as an acoustic-based messenger and networking device for use underwater.
“Smartphones rely on radio signals like Wi-Fi and Bluetooth for wireless communication. Those signals don’t propagate well underwater, but acoustic signals do,” co-lead author and doctoral student Tuochao Chen said.
“With AquaApp, we demonstrate underwater messaging using the speaker and microphone widely available on smartphones and smartwatches.
“Other than downloading an app on their phone, the only thing people will need is a waterproof phone case rated for the depth of their dive.”
Don’t worry divers, you don’t have to learn anything new.
The system enables users to select from a list of 240 pre-set messages that correspond to hand signals – with the 20 most common signals are prominently displayed on the screen and easily accessible.
I’m excited to share AquaApp: the first mobile app to bring underwater messaging to smartphones without any additional hardware. It uses acoustics to communicate — kind of like a submarine or a dolphin, but all on your phone!
SIGCOMM paper and code: https://t.co/8D5DV9iNIv pic.twitter.com/B7Vd1dygTP— Justin Chan (@realjustinchan) August 29, 2022
Who’s got tech news out today?
Silex has successfully tested the first full-scale laser system module developed for deployment in Global Laser Enrichment’s (GLE) commercial pilot demonstration facility in the US – with the system expected to be installed by the end of CY2022.
“This is a pivotal milestone for the SILEX uranium enrichment technology which demonstrates the ability of our laser systems to operate reliably at commercial-scale for extended periods,” CEO and MD Michael Goldsworthy says.
GLE is planning to complete the commercial pilot demonstration project by the mid-2020s, after which a feasibility assessment will be conducted for the proposed Paducah Laser Enrichment Facility (PLEF).
GLE hopes to deploy the PLEF for the production of natural grade uranium (in the form of UF6) in the late 2020s via enrichment of the US Department of Energy (DOE)-owned tails inventories under a landmark agreement signed between GLE and the DOE in 2016.
Nitro’s board has unanimously rejected an unsolicited, highly conditional, and non-binding indicative proposal from private equity firm, Potentia Capital Management Pty Ltd, together with its co-investor HarbourVest Partners, LLC (Potentia Consortium), to acquire 100% of the issued share capital of Nitro at A$1.58 cash per share.
The Potentia Consortium has advised Nitro that it has acquired a combined relevant and economic interest in more than 41.4m Nitro shares, which represents 17.0% of the issued share capital in Nitro.
The board said the proposal doesn’t adequately compensate shareholders for “Nitro’s position as one of only two software companies worldwide with a proven enterprise-grade SaaS PDF productivity and eSigning platform, and a uniquely powerful and differentiated solution offering in a fast-growing global market worth US$28 billion.”
Plus, it represents a 61% discount to Nitro’s 52-week high trading price of $4.00 per share on 17 November 2021 and a 19% discount to the median broker target price of $1.95 per share.
PROPHECY INTERNATIONAL (ASX:PRO)
The software developer has signed a five-year Master Supply Agreement (MSA) with Optus, setting out the standard terms on which Prophecy will offer to supply Snare and eMite to Optus, its subsidiaries and its customers.
The initial opportunity to supply eMite to one Optus customer has been estimated at approximately $2 million over the first 3 years of the 5-year contract term.
eMite provides a SaaS based real time and historical analytics platform, dashboards, wallboards, KPI and orchestration products for Customer Experience, Contact Centre environments.
A pipeline of additional potential eMite deals have been identified through the partnership developed by the signing of the MSA – the first of which is with a key Optus government customer and has now proceeded to proof-of-concept (POC) stage with Prophecy having received an initial order valued at $50k.
SLX, NTO and PRO share prices today:
The AI recruitment player has officially launched its platform with the completion of the Shortlistmii module, Phase One of its commercialisation roadmap in the Aussie recruitment industry, which generates revenue of $16.4 billion but has “struggled with innovation and change,” the company says.
MD Andrew Hornby said the AI provides complex candidate-to-job matching and ranking by using accurate semantic matching powered by domain specific knowledge graphs.
“This capability improved on the traditional process of manual candidate database matching that is inefficient and potentially biased,” he said.
The ESG platform says its wrapped up an investigation into fraud committed by an employee of its South African subsidiary reported earlier this year.
The estimated value of misappropriated funds is $0.84m, but luckily K2fly has a crime insurance policy in place with a liability limit net of excess of $240k and has notified the insurer of its intention to lodge a claim.
There is a AU$0.75m estimated liability for amounts owing to the South Africa taxing authority by the company’s South African registered subsidiary which were misappropriated and it is intended that a payment arrangement will be negotiated to manage the impact on working capital for the subsidiary.
K2F says its reveiewed and strengthed internal procedures and controls to eliminate the risk of recurrence – and that the fraud has been reported to the South African police authorities with the criminal investigation ongoing.
The company has initiated a non-renounceable entitlement offer to eligible shareholders to raise up to $1,013,260 at $0.01 per share to raise funds for marketing and user growth activities for the Frugl grocery app and commercialisation of the Infocus analytics retail intelligence software-as-a-service (SAAS) platform.
Funds raised will also be used to execute the company’s expansion plans for its Frugl market retailer platform into South East Asia.
