Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
The period of time taken to assess some of these proofs of concept suggests that we may be looking at some potentially substantial contracts and they’re using this time to iron out any issues and to maximise the potential benefits from what is regarded by many in the hi-tech field,as a premium product.
We’re more expensive than many other options and potential customers will want to properly evaluate its features before committing to paying a premium price.
Also,if it’s the AI feature which interests them then I suspect there’s quite a lot of modelling to be undertaken before their expectations are met. This will take some time and this is why we now employ systems integrators whose role it is to adapt the customers IT to enable them to gain maximum benefits from the advanced features our tech provides.Modelling is time consuming but it’s more than likely that there will be more substance to these contracts and customers need to see the final end product before making such a substantial investment.
It’s a game of patience but everything currently appears to be moving in the right direction.Also,the professional contacts recently brought in are of a very high standard but this is what we need to move to the next level as our BOD don’t possess all the necessary attributes. These new contacts will fill in the gaps and allow our BOD to concentrate on R&D to ensure we maintain our current status which is said to be approx 18 months ahead of our closest competitors.
https://twitter.com/glr_1990/status/1519339359274733568?s=21&t=OvekMr2RYfQZyvBdGjtR_g
Many of these technologies have now been embraced by national governments across the globe and large business is being coerced into adopting these technologies. Small/medium sized businesses will have no option as otherwise they will simply disappear.China is already well advanced along this route and is using digital processing,automatic operations and intelligent devices to boost it’s services and benefit its economy.
Demand for technology with these capabilities is going to be off the scale.Currently t42 is unique in being the ONLY company with a fully comprehensive package of solutions.Others will catch up in due course. However in the meantime we can leverage FIRST MOVER status to capture a significant portion of this $TRILLION industry.
It’s that mouthwatering prospect that hour BOD have realised puts them in a very strong position. The pipeline of potential customers and deals are going to be huge both in terms of size and substance
The article also makes reference to federal agencies as potential customers and I presume this is in relation to Customs operations which the BOD are particularly excited about. Many countries are failing to extract the correct duties/tariffs/taxes because of endemic criminality and corruption. This means they’re failing to raise sufficient revenues to fund their social programmes and public services. It’s a problem for both developed and emerging countries and one which all national governments are aware of and concerned about.
The next generation technology is already improving operations and efficiency in custom’s processes.IoT technology is absolutely key to the future of smart customs as it enables the effective monitoring of cargo and tracking of journeys.Sensors can be embedded in vehicles and containers to be used in a variety of different ways.
X-ray sensors can use IoT to communicate manifest data directly to e-Seals on containers (Lokies).What’s more it can be used to detect fraud and other crimes,including tampering in containers and cargo that isn’t moving along approved routes.
It also quickens processes such as data verification as it helps to detect and resolve common errors that would otherwise take up considerable time and Human Resources. Intelligent Customs is enabled by cloud computing which means new applications for new taxes can be quickly developed and be more financially efficient.
Blockchain based technology is set to be a game changer for Customs,particularly for smart contracts. There is the potential to improve the efficiency and speed of cross border supply chains whilst also providing a digital paper chain of unalterable records
Furthermore, the recent pandemic has left several legacies and one of the most important is the need to keep trade flowing and supply chains connected which is something that has been fully appreciated by national governments who’ve worked tirelessly to keep their port operations open.
This has strengthened the case for digitalisation and has led to innovation and advancement in new technologies which are now transforming and permeating supply chains and their distribution networks including transport and logistics. Keeping abreast of the most recent advances in the field is now a requisite and NOT an option.
This has led to increased engagement through business to consumer electronic commerce for business operations.The use of electronic equivalents has spread to negotiable Bills of Lading and their acceptance by government authorities, banks and insurers. Commercial parties across the world are readily accepting electronic records and legal systems are being suitably modified.
This is why the US has recently passed bill to spend over $3 Trillion to improve the supply of port related infrastructure and services and the expansion of its technology based solutions relating to trade facilitation, automation and digitalisation in order to provide resilience against any future shocks or disruptions
There are several positive messages to take from this article and the investment community at large has still to appreciate the company’s full potential due to the unique nature of the capabilities of it’s technology.
For me the most important comment was-“while there are competitors that offer components of the necessary tracking solutions, none delivers on a complete state of solutions and t42 stands to capitalise on a significant portion of the $multi- Billion industry”
In other words t42 is unique because it’s the ONLY company that offers a comprehensive solution.Many of our competitors have similar features but not as sophisticated and NONE of them possess all of our detection capabilities and more importantly can’t provide the degree of cybersecurity protection that we can offer through our cloud based solution.
We have first mover advantage in a huge and rapidly growing industry and in due course the benefit of that will become apparent. The logistics industry, at large, is fully aware that t42’s technology is currently the best available on the market.
It’s the potential adoption of our SaaS business model by these developing South American countries which is of particular interest. Imagine the annual impact upon our SaaS revenue stream. It’s a no brainer and something that should work well for these damaged economies which are struggling to get on top of the corruption which is endemic in many of these countries.Clearly a win/win situation for all interested parties
In addition, a Delaware corporation is subject to the following taxes:
Corporate income tax. Every domestic or foreign corporation doing business in Delaware that is not specifically exempt must file a Delaware corporate income tax return and must pay a Delaware corporate income tax of 8.7% on the corporation's federal taxable income from Delaware sources, or income apportioned to Delaware. Delaware law does not require the payment of a minimum corporate income tax.
Gross receipts tax. A corporation doing business in Delaware with receipts from Delaware sources is subject to Delaware gross receipts tax at various rates (currently ranging between .0945% and 1.7468%) depending on the nature of the business conducted in Delaware.
In other words Openbox could have been formed to cater for t42_IoT Tracking Solutions expected volume business within the US if they deem it to be substantial, bearing in mind it comes at a financial cost. Alternatively, it could be used for a Joint Venture with one or more 3rd parties. I don't know the reasons behind this but i'm mindful to think there's a lot more to this than meets the eye and if the BOD believe that the US is going to generate a significant proportion of their future business then that might explain why they've chosen to go down this particular route. Just a thought!!
The most common option for an overseas company to establish a presence in the US is to incorporate a subsidiary in Delaware. The subsidiary can be a corporation or a Limited Liability Company ( LLC). A corporation offers limited liability and has centralised governance structures ). Similarly, an LLC offers limited liability and can have centralised governance structures if the members so elect. While corporations have been and still are the first choice for foreign companies establishing a business presence in Delaware, LLCs are an acceptable alternative.
Any non-US entity can become domesticated as a corporation or LLC in Delaware by filing a certificate of corporate (or LLC) domestication and a certificate of incorporation (or a certificate of formation, as applicable), with the Secretary of State of Delaware . It is also necessary to obtain a State of Delaware Business Licence from the Delaware Division of Revenue.
It is also possible for an overseas company to do business through an intermediary such as a sales representative, distributor or branch office. However, these structures can expose the overseas entity to much more risk and liability in the US. Overseas companies electing to use one or more of these alternative business strategies should be mindful of the:
Various qualification and registration requirements.
Different contractual requirements.
Various potential operational challenges.
Nature and sources of dispute that can potentially arise.
If a non-US company uses a distributor or sales representative to establish a presence in Delaware, it must comply with a number of state and federal laws, including US custom and import laws, and it may have to obtain licences and permits required by any US legislation relating to the product it is selling. A foreign company operating in the US under any of these structures should work closely with US counsel to ensure that the contracts governing these arrangements minimise the risk of liability.
In Delaware, taxable business entities are only subject to Delaware income tax on Delaware source income, that is, the portion of their income allocated or apportioned to Delaware. There is no state corporate income tax on goods or services provided by Delaware corporations operating outside of Delaware. In addition, purchases in Delaware are not subject to sales tax, and Delaware has no value-added tax (VAT).
Delaware corporations must file an annual franchise tax report and pay an annual corporate franchise tax up to a maximum of USD200,000. The tax is assessed based on the number of shares authorised by the company using either the authorised shares method of computation or the assumed par value capital method.
If the company with whom we have this Distribution Agreement is the company registered in Delaware then there are a couple of other issues to consider.
The majority of Fortune 500 companies, more than 60% actually, have chosen to incorporate in the small state of Delaware. Why are more than 75% of all new initial public offerings in the U.S. done by companies incorporated in Delaware, a state with fewer than 1 million residents? Why is Delaware able to generate more than 25% of its general fund revenue from the incorporation business? And why have other states been unable to steal this business away from Delaware?
There are two major reasons for Delaware’s dominance of the corporate incorporation business. One reason is the bi-partisan political consensus in Delaware to keep the Delaware corporation statute modern and up-to-date, and to rely on Delaware’s corporate law specialists for advice in how to do this. As a result, law students at every law school in the United States study the Delaware corporation statute and the decisions of Delaware courts interpreting that law.
Corporations want to operate under modern laws that clearly spell out what they can and cannot do. But other states could enact such laws, or simply copy Delaware’s. So the Delaware corporation statute can’t by itself account for Delaware’s success in attracting corporate incorporation's.
The other major reason corporations choose to incorporate in Delaware is the quality of Delaware courts and judges. Delaware has a special court, the Court of Chancery, to rule on corporate law disputes without juries. Corporate cases do not get stuck on dockets behind the multitude of non-corporate cases. Instead, Delaware corporations can expect their legal disputes to be addressed promptly and expertly by judges who specialize in corporate law.
Other states can, and some have tried, to create similar courts dedicated to resolving corporate disputes. They, too, can resolve to appoint only their best legal experts to these courts. But they won’t have the large body of Delaware case law, court rulings, generated over many years that provide both guidance and predictability to Delaware corporations, lawyers, and judges.
Also,Delaware’s tax system gives businesses several ways to legally minimize their tax bills. Companies that are incorporated in Delaware but do business in other states don’t have to pay state corporate income tax to Delaware. Some groups accuse Delaware of being a tax haven because the “Delaware loophole” allows companies to declare certain types of revenue in Delaware rather than in the state where the business actually occurred. Delaware also doesn’t tax profits on royalty payments, trademarks, or copyrights.
Delaware is the premier base for Corporations today but it comes at a price. It isn't cheap to base a business in Delaware, on the contrary!! If this was a "fly by night" outfit then Delaware wouldn't have been its preferred choice of base.
I’m reasonably confident that Avi will be aware of the potential for this company So I’d be very surprised if he chose this moment in time to dispose of them. More likely to be a short term trader or someone in need of funds, possibly for Christmas
Even more interesting that DHL have satisfied themselves that our tech is their preferred option. That’s quite an endorsement from the World’s largest (3PL) Logistics provider. Other logistics providers will sit up and take note. Will hopefully lead to more lower value deals which would be most welcome especially if they opt for the SaaS route which is why Starcom decided to go down the modular route when designing their software
I've just read a new Trend Report which explains how the changes in the demographics of the workforce is already and will continue to impact upon the businesses of tomorrow. It's interesting in the context of this company because it explains in great depth how the Logistics industry will be at the forefront of these changes and will therefore witness significant increases in future demand.
The workplace is currently reacting to multiple forces of change brought on by shifting demographics, technology advancement and the Covid-19 pandemic. Businesses are having to grapple with a growing labour shortage and a war for talent.The global pandemic has radically altered the work/life balance for many workers and businesses are having to react to this if they wish to succeed.
For the first time in history "digital natives" ie. those brought up in a digital age, outnumber those who began their careers before the internet. Generations X and Y are beginning to take over the leading roles in business and they are driving a digital transformation and are very tech savvy.
Business is having to act now to cope and there will shortly be an explosion in the application of technologies around the world and this won't be even as some lethargic developed and protectionist economies such as the EU are not collaborating with technology in the manner they should.
The pandemic has greatly changed purchasing behaviors- for good, in the eyes of those closest to these changes -and there has been unprecedented levels of growth globally as more and more people have shopped online. In a recent study it was estimated that over 70 Million new shoppers came online in just 6 South East Asian countries since the beginning of the pandemic.
It is widely believed this has led to a massive surge in the demand for logistics and that to build more resilience into the supply chains it will greatly accelerate the digital transformation of logistics as more and more workers in the future will be working remotely.
This will create new work schedules as automation,visibility tools,contactless and flexible delivery technologies take shape and IoT sensors to track shipments will be just one example of technology acceleration as a result of Covid-19. It has become apparent that it is now critical for logistics organisations to implement optimal Future of Work concepts if they wish to remain competitive and relevant because many of them will simply disappear.
I'm not registered for Facebook so unable to see what those posts are alluding to.
Amazon intend to sell spare space capacity to other major retailers, such as, Walmart and Home Depot, for example, which will more than cover their operational costs and is regarded as a smart move.
This will be a huge logistics exercise requiring sensors galore to help move goods in large volume, quickly and efficiently. It will require state of the art technology with the type of features possessed by Tetis, Tetis R and Tetis R Hybrid who provide the perfect solution for tracking, monitoring and cargo management. They monitor every aspect from the moment the container is sealed until it safely arrives at its destination.
In addition to recording temperature,humidity and light they have combined connectivity- cellular and iridium - which allows tracking and monitoring anywhere and anytime even when outside cellular connectivity range. Kylos has similar attributes which are perfect for smaller packages and parcels and which offer a full management solution when used in conjunction with their mobile and online applications and can be combined with other products eg. Lokies for multi layer security.
They're going to develop a new market which is going to be huge and we only have to capture a small fraction of the opportunities these changes will bring which would significantly improve Revenues and Profits especially from a SaaS perspective which may be the type of feature that many smaller retailers prefer.
Currently there are no other container tracking and monitoring businesses that provide a more "state of the art" business solution than t42 and our technology has some unique features they don't possess. Covid has presented the company with the catalyst required to transform its business. Let's hope that the BOD are up to the task of converting the many business opportunities these unique circumstances are about to present to us.
Here's a brief overview of what the US administration is attempting to do to help overcome their domestic issues. The Biden-Harris Supply Chain Disruptions Task Force has been set up to : act as an honest broker to encourage companies to start collaborating. Many have responded to this call, recognizing that a once-in-a-century pandemic requires everyone to do their part to support the nation’s economic recovery.
Moving all links in the supply chain simultaneously doesn’t happen overnight, but the actions being taken by every link in the chain will make a difference. These actions are starting to clear the backlogs and break down the barriers that have made it hard to move this unprecedented volume of goods.
The US administration will also continue to track how well their nation’s transportation and logistics supply chain is handling this increased flow. This requires a goods movement chain that is more resilient, fluid, and can operate at a higher velocity. The Infrastructure Investment and Jobs Act, is designed to make the fundamental changes that are long overdue. This will be achieved by improving supply chain visibility and optimization through real-time IoT cargo monitoring and tracking which will uncover inefficiencies in the flow of goods, finances and information. Their aim is to provide multimodal in-transit supply chain visibility allowing all customers to understand what’s happening throughout their extended supply chain. With actionable insights, this will allow for the development of cost-saving strategies, optimization of supply chains, assessment of performance, and identification of bottlenecks.
Part of the US $1.2 Trillion infrastructure package is aimed at resolving some of their domestic issues within the global supply chain.Currently 000’s of tractor units are moving around on highways only 25% full. Right beside it is another tractor unit with a similar sized load going to exactly the same location. The US government’s aim is to collaborate and combine supply chains which would help take 000’s of trucks off the road and in the process radically reduce carbon emissions. This collaboration is already beginning to happen with the likes of Amazon who have a huge presence within the US logistics market. They are also acquiring small airfreight businesses with their own fleet of aircraft and plant to transport more goods by plane.
No idea. Seems rather strange on the face of it. Just wonder if news is leaking in relation to the proposed contracts, some of which are expected to be announced before the end of this trading year
https://www.telegraph.co.uk/news/2021/11/29/allies-britain-israel-can-trade-tech-superpowers/. This hopefully augurs well for T42 IoT Track, as the UK Government will be offering significant new contracts to Israeli hi-tech companies as the UK works towards improving its infrastructure as it proceeds to radically transforming the UK economy for hi-tech firms operating in various fields of industry.Significant amounts due to be spent on improving digital technology at our FreePorts and on Railways under the Shapps plan as we transfer freight from roads to the railways . Let’s hope our BOD can grab a share of what will be on offer
He also said "the Company is in advanced stage discussions for a number of potentially substantial projects concerning the supply of Starcom's various devices for the tracking and monitoring of containers and related items"
Now, that sounds a mouth watering prospect to me, but each to their own and it's up to everyone to decide for themselves how transformational the recent news is likely to be in relation to the future Revenue and Profits growth for this company