Mining software company K2Fly (ASX:K2F) has made a steady start to the week with news of more deal-flow this morning.
The company has signed up BHP spinoff South32 (ASX:S32) to a five-year contract that’s expected to generate more than $880,000.
Shares in K2Fly took a hit during the March selloff to fall 50 per cent, but the stock staged an equally quick recovery.
This morning’s announcement saw the stock move another 5 per cent higher to 21.5c, before easing back into midday trade.
The deal will see K2Fly’s compliance software implemented across South32’s global operations, which span 19 jurisdictions.
The company’s RCubed software allows clients to address specific tasks across their mining operations (such as accounting practices) in a standardised way to simplify compliance procedures across different jurisdictions.
Including the South32 deal, K2Fly said the total contracted value of its revenue agreements had risen to $6.9m, up nearly $2m since its last market update on April 29.
Annual recurring revenues (ARR) — a key metric for software-as-a-service (SaaS) models — are up 22 per cent for the quarter to-date.
K2Fly also completed a $1.719m equity raising in May via the conversion of listed options taken up by eligible shareholders.
In other ASX tech news today:
Healthcare app MyFiziq (ASX:MYQ) has secured a memorandum of understanding with Canadian company NuraLogix Corporation.
The pair will combine their respective imaging technologies in the development of a video-based phone app which takes a gauge of customer health by extracting “blood flow information from your face”.
MyFiziq said the aim was to develop a tool that allowed for a “total health screen from a mobile phone”, that could be completed within two minutes. As part of the production process, the two companies plan to roll out a demo version of the app to markets in Brazil and China.
MyFiziq said the app would also have a COVID-detection capability, by comparing symptoms with those of a regular cold and flu. Shares were unchanged in morning trade at 27.5c.
And late last Friday, payments platform iSignthis (ASX:ISX) renewed its push for removal from the ASX, where it has been suspended from trade since last October.
The company said that 55 shareholders, representing 16.096 per cent of member votes, had requested that a vote be put to shareholders to remove iSignthis from the ASX, and for the directors to then pursue a listing “on another securities exchange”.
iSignthis recently upped its stake in secondary-exchange the NSX (ASX:NSX), where iSignthis CEO John Karantzis is also CEO and managing director.