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ASX-listed builder Tamawood is spinning out technology they’ve designed to streamline the construction process for house builders.

‘SenterpriSys’ (NSX:SPS) is raising $640,159 for a market cap of just over $7m to list on the National Stock Exchange (ASX:NSX), the ‘number two’ of Australia’s three equity markets.

The company admits in its prospectus that “there are many software solutions currently in the market for small to medium builders”, but it’s likely the only one which counts the chairman’s three other companies as clients.

Tamawood (ASX:TWD) was founded by Lev Mizikovsky, the man who led the charge to have three board members of Collection House (ASX:CLH) removed last week and the remuneration report comprehensively defeated, a company he is a substantial shareholder in.

Mr Mizikovsky also chairs Advance NanoTek (ASX:ANO) and AstiVita (ASX:AIR).

Tamawood currently pays SenterpriSys $576,756 to use its project management software, and Advance NanoTek and Astivita $30,000 each pay for back office support.

But aside from these three, the company does not yet have any unrelated customers.

SenterpriSys, which hopes to be listed by January 21, is a profitable company.

It made $215,881 in fiscal 2018 — backstopped by those three customers.

The company raised $1.5m in July and used it to pay off $700,000 in loans, so it’s now debt-free.

If the company raises its planned sum, it’ll have just over $1m to spend on finding buyers for its software and further development.

Listing costs are only expected to be $86,134.