Technology and IP group ipernica (ASX:IPR) said it was in a solid cash position as it worked towards achieving profitability from its NearMap aerial mapping service.
In a presentation to investors, managing director Graham Griffiths said the company had started receiving revenue from NearMap, which the company bought for $4 million plus shares in 2008.
The service presents a significant annual revenue opportunity, the company said, with scope for international growth.
The company is targeting a coverage area of 700 cities worldwide once the service becomes profitable in Australia.
Hmmmm, interesting company or at least interesting technology. Rumor (several) has it that larger players are looking closely - more closely than the company realises.
Steph
They blow google maps and earth out of the water... my house is at least 2 years out of date but on Nearmaps i can see it month to month , see it from different angles and so much clearer than anything Ive ever seen .
Perhaps larger players are looking closely because they have been winning all types of awards, they have been on the news and papers in Perth. I like surfing their forum people put some cool finds on there.
Now that what I call growth. Above all they have a solid business plan and they have planed every stage of their process.
Bravo
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