Foresense Shareholders Newsletter October 2021

Message from the Chairman & CEO

The Foresense Board are currently pursuing a significant opportunity to list on the Toronto Stock Exchange (TSX).

We have appointed Actium Corporate Finance Pty Ltd as our Corporate Advisors to guide us through the process. To date we have had zoom calls with 8 different parties who have all expressed an interest to be involved with Foresense.

The main reason for pursuing the TSX is that it firstly provides us with a North American presence which is where we see our large customers being, but also the TSX is far more attuned to technology, specifically AI. It is also the 9th largest exchange in the world, compared to the ASX which sits at 13th.

Timing is somewhat dependent upon COVID conditions however in a very short period of time, we have greatly advanced this opportunity and will keep everyone abreast of our progress as and when it happens.

The phrase “in these unprecedented times” is often used. To us at  Foresense the phrase means unprecedented opportunities. In a world where the convergence of Data and Technologies – the amount and importance of such continues to grow exponentially; it is increasingly important for all organisations to be able to harness that data.

In this era of “learning to live” with Covid and the different ways we have all had to learn to conduct and negotiate business, we would like to thank all our Shareholders for their continuing commitment to the success of Foresense.

We are also delighted to inform Shareholders of the appointment of George Chapman as the Chairman of the Foresense Advisory Panel for Real Time Digital Footprint. Please refer to the bio in the newsletter below.

Joseph Barton, Chairman

Glenn Weiland, CEO

New Opportunities and Progress

Foresense commenced a major agreement with Citech (who are soon to list on the TSX), creating state of the art 5G communication towers for mining sites involving global companies.  Foresense will add value to the Citech Command Tower by offering add-in options to the Citech product such as a custom designed Dashboard, real time analytics, drone technology inclusions in the Command Tower and emergency technology sensor network.  This exciting alliance will see Foresense enter the multimillion-dollar mining market.

World Pool Association (WPA) and Foresense have planned to use the cutting edge Foresense Black Box technology in 4 online tournaments in 2022, which should see significant revenue for Foresense. Our aim is to see a global tournament demonstration before Christmas. In announcing the strategic partnership, WPA Chairman Ian Anderson said  WPA are excited with the strategic alliance partnership with Foresense and significant potential to not only promote, encourage and support the digital cue sport to hundreds of millions of cue sport followers, but also to see sizable global revenues from the Foresense/WPA Tournament online sales App.”

Australian Newsagents & Lotteries Association (ALNA) and Foresense recognised a major opportunity in the retail vertical to provide a solution to cash lotto payments ($2.6b per annum) by providing a digital wallet loyalty card interfacing with the Foresense video sensors. Foresense is in the process of rolling out 2000 video sensors across the ALNA network connecting to the Swipe n Save card and then the  staged roll out of another 2000 video sensors. Advertising content will be streamed to the two separate networks from the Foresense Streaming System for a share of advertising revenue.

Launch of the Foresense 360 (direct to Asset Owners & Managers) Shopping Centre product to increase sales and revenue opportunities. Experience to date has shown that rather than interface with digital asset providers who have limited digital sites in shopping centres, it is better to go direct to Asset Owners/Managers.

Produsense

We are edging closer to our first trial with the outlook of eradicating/management of the current mice plague with our Joint Venture approach with Foresense Technologies Tech Gun, thus allowing us to formulate a concise approach using technology vs harmful pesticides, allowing a more measured approach without damaging the environment.

Our ongoing development of water deployment technology and temperature tracking from farm to plate is progressing well and we are excited by Phase 1 & 2 of our 10-phase approach to smart farming. Once interstate border restrictions lift, we will commence Grower Liaison to commence Phase 1 implementations and trials of our water deployment technology.

With Covid restrictions slowly being lifted, Produsense will commence operations within the new Tech Hub at Rhodes for further agriscience developments.

The John Sands Smart Shelving Proof of Concept (POC) which was due to start earlier this year was delayed due to Covid lockdowns in Victoria and NSW.  It will now commence in three locations and American Greeting (parent company of John Sands) has already agreed to the major POC in Australia.

We are currently working with one of Australia’s largest “message on hold” companies regarding AI and Data Analytics.

Tech Hotspot

The fact that data now flows digitally changes how we collect and integrate it from many different sources across varying formats.  Because of this, getting data from its raw condition to the state of being analysis-ready and then actually performing the analysis can be challenging and often requires very complex pipelines.  Traditional software approaches generally do not scale very well, resulting in teams that are increasingly looking to machine learning (ML) algorithms and pipelines to perform tasks such as features classification, extraction, and condition monitoring.  This is why Foresense is applying ML as part of a larger macroscope pipeline to provide analytic methods for applications.

Delighted to inform Shareholders of the establishment of the Foresense Technical Hub in Rhodes NSW.  Our Tech Team will be located in the Hub from the middle of October, after refurbishment is completed and there will be available space for leading young technicians to innovate and create for Foresense.

Development work for Produsense will also be undertaken at the Hub.

 

Announcing the Foresense Technical Hub – Rhodes NSW

Home for our Team and Manufacturing Centre for Produsense agriscience development.

Attracting young tech creators, Foresense will encourage greater Australian push into the global AI market

FORESENSE
george 2

GEORGE CHAPMAN

GEORGE CHAPMAN

Also delighted to inform Shareholders of the appointment of George Chapman as the Chairman of the Foresense Advisory Panel for Real Time Digital Footprint.

During his 60+ years media and technology career, George has held Chair, Director, and Senior Management positions with leading international media organisations. He is a former General Manager of TCN Channel 9 Sydney and Managing Director of New Broadcasting Ltd 96FM Perth, one of Australia’s first FM radio stations. He was a founding director of the Cable & Satellite Broadcasting Association of Asia (CASBAA) and a former member of the Western Australian Government Technology & Industry Advisory Group, Federation of Australian Commercial Television Stations (FACTS) and Federation of Australian Radio Broadcasters (FARB). As a Director and Project Manager, he has been directly involved in the design and development of numerous FM and satellite radio stations and digital media ventures in many countries, including India, Malaysia, Indonesia & China.