Tech: This stock is up 11,000pc since 2009; but made no revenue this year
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Audio Pixels (ASX: AKP) is a mysterious stock. In July 2009 it was 14 cents and today is $16.10 – a gain over 11,000 per cent.
But it made no revenue this calendar year while spending $1.8 million on research and development costs.
It is not uncommon for stocks at the ‘research and development phase’ to be in such situations but it’s unusual for a company that is up by a percentage of five figures in 10 years.
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Audio Pixels does not appear in immediate danger – it still has $8.6 million in bank balances and call deposits.
However, it has fallen 30 per cent from its all-time peak of $22 reached in January. To be fair, part of this could be its share balance of 28 million shares. But it has not been smooth sailing in recent times.
In May this author was a guest of Pitt Street Research’s inaugural Semiconductor Conference where Audio Pixels declared it was “the only game changing technology on the ASX”.
It produces audio speakers the size of semiconductor wafers, that can reproduce sound by moving membranes. Its speakers have higher bandwith, extra octaves, low visual distortion and consume less power than other speakers.
The company wants to achieve production capability and then sell or license its products worldwide.
But this is some years away and it has not been a smooth process. In May it had to suspend acoustic testing due to a rare acoustic glitch.
Shares appear to have shrugged off its quarterly, rising 7 cents. However it has lost nearly 30 per cent since January’s all-time high.
Fellow chip-maker Sensera (ASX: SE1) actually made revenue – US$10.2 million of it which is 62 per cent higher than the prior year. US$3.8 million of that came from the previous quarter. While the company’s operations have lost $1.5 million, it predicts cash receipts to increase this coming quarter and thus argued, “the company is sufficiently capitalised”.
Structured Security Monitoring Systems (ASX: SMS) has revised its agreement with Boeing. The company will now be allowed to use Boeing proprietary data to sell its aircraft crack monitoring system. Vice president of business development Rich Poutier said the deal “solidifies the working relationship between Boeing and the SMS management team and the ongoing commercial advancement of the CVM sensor technology”.
eServGlobal (ASX: ESV) has completed the sale of its Core Business and will now be known as Wameja (ASX: WJA) – effective this coming Tuesday. It made 2 million euros ($3.2 million) from the sale.