Cyber security play YPB is testing a technology that monitors mobile phones on train stations to count passengers and send messages to devices.
YPB (ASX:YPB) partnered with Monash University’s Institute of Railway Technology to measure traffic data and provide analysis of Melbourne’s rail network.
YPB’s CONNECT platform interacts with mobile devices, leveraging proximity technology, allowing businesses to engage with consumers based on time, location and user characteristics.
The software can take and deliver data straight from a phone, in this case delivering service and other information direct to passenger devices.
The data would allow rail operators to count and identify passenger numbers in real time to ensure safety on platforms and carriages, YPB said.
“Our software platform analyses data for the train operator to understand passenger flows, where passengers congregate at the station and to get an understanding of how people move around the station,” director Gerard Eakin said.
“Sensors detect passengers via their bluetooth connection on their mobile and push data to the software system for analysis.”
YPB’s shares were trading at 4c on Friday — at the bottom of their 52-week range of 4c to 25c.
YPB reported $450,000 in sales in the September quarter, down from $532,000 in the previous quarter.
There was $1.6 million in the bank at the end of September, ahead of expected costs this quarter of $1.7 million.
YPB expects a $5 million pre-tax profit in 2018.
“The quarter saw reduced cash burn but the business is still performing below its potential,” YPB told investors last week.
“The leadership change of July 2017 is expected to show clear benefits in deal flow prior to end 2017 but the impact on financial results will not be felt until Q1 2018.”
In July, YPB founder John Houston resumed leadership from former CEO Jens Michel who lasted just 16 months in the role.
“One of the big disappointments has been China,” Mr Eakin said.
“We’ll see the company start to kick goals in China going into the new year.”