Linius Technologies Limited (ASX: LNU) (Linius or the Company) is pleased to provide this Annual Activities Report, which was lodged, alongside its Appendix 4E financial statements, with the ASX today.
Appendix 4E relates to the Company’s performance during Financial Year ending 30 June 2018 (FY18). This Annual Activities Update relates to FY18, and includes some information subsequent to the close of the fiscal year.
Access the full Annual Activities Report HERE >
During FY18, the Company focused on completing key activities to directly support its near-term goals (NTGs), including executing high-profile POCs to support its future direct sales pipeline, investing in channel development, as well as hiring world-class talent across its sales, marketing, product and management functions. The execution of these measures is intended to both drive revenue and increase the penetration of virtual video within the Company’s chosen markets.
Linius’ cash balance at end of FY18 was AUD$10.8m. This will enable the Company to continue aggressively pursuing its commercial goals with confidence.
In FY18, the Company moved to a communication methodology of outlining NTGs to the market, which would be indicative of scaling the business opportunity and moving towards revenue generation. An initial set of NTGs was delivered in September, 2017, and a follow-on update to that was issued in April, 2018.
For details on the Company's NTGs, please view Linius' Annual Activities Report in full.
Linius Technologies Limited (ASX:LNU) has invented and patented the Video Virtualization Engine™ (VVE), which is available on Amazon Web Services, Microsoft Azure and IBM Cloud.
Amazon, Microsoft and IBM are investing billions in virtualizing video services (technologies) and Artificial Intelligence in the cloud. It is arguably the biggest battle on the internet, given that video accounts for nearly 80 percent of internet traffic.
Only Linius can expose the data that makes up the video file, making cumbersome video as flexible as all other forms of data. Accessing the data within the video file is the missing link for video cloud service providers, creating unparalleled value across the internet video industry.
Linius has the potential to transform many multi-billion-dollar markets, and is initially focused on:
Chris Richardson, Chief Executive Officer
Linius Technologies Limited
www.linius.com / T: +61 3 8680 2317
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