Quarterly Activities Report for June 2016
Perth, July 29, 2016 AEST (ABN Newswire) - Xped Limited (
ASX:XPE) ("Xped" or "the Company"), the Internet of Things ("IoT") Technology Company has today released its Quarterly Appendix 4C filing for the quarter.
QUARTERLY HIGHLIGHTS
- Successful Reinstatement to ASX
- Acquisition of JCT Healthcare and Jackson Care Technologies
- Appointment of Dr Wenjun Sheng to Board of Directors
- Appointment of Lisa Zhang to Board of Directors
- Xped APP development awarded to Codium
- Successful porting on Moon Island Gateway
- Licensing agreement with Telink
- Corporate Changes
- Further patents filed
REINSTATMENT ON ASX
After completing a successful capital raising under a Prospectus lodged in January 2016, the Company was reinstated on the ASX on 5th April 2016 following re-complying with Chapters 1 and 2 of the Listing Rules.
After a short period of suspension, the Company listed as Xped Limited (formerly Raya Group) with its business focus on IoT technology following the acquisition of Xped Holdings Limited.
ACQUISITION OF JCT GROUP
As announced on 4th July the Company announced it has completed the Sale and Purchase Agreement ("SPA") of JCT. Under the agreement Xped Healthcare Pty Ltd (subsidiary of Xped) has acquired all shares of JCT and the business will continue to operate with Eddie Jackson appointed as CEO of JCT.
The cost of the acquisition was varied as per announcement on 7th June 2016 with first payment of $750,000 cash, plus further $750,000 cash payment subject to agreements with channel partners, resellers and key supplier. The variation included issuing up to $1.25m of Xped ordinary shares along with three milestones tied to performance.
BOARD OF DIRECTORS APPOINTMENT
The Board was pleased to announce the appointment of Lisa Zhang to the role of Executive Director on 29th June 2016. Most recently, Lisa was managing Director at Intel Capital overseeing Intel Capital's equity investments in China and was a voting member of Intel Capital's investment committee.
Based in China, Lisa managed a team of investment professionals in Beijing, Shanghai and Hong Kong. She was responsible for the US$100M Intel Capital China Smart Device Innovation Fund, the US$500M Intel Capital China Technology Fund II and the RMB$80M Intel Capital China Angel Fund.
Lisa's Investment areas of expertise include IoT, Cloud Infrastructure and Services, Data Analytics, Drones, Robotics and Security.
Prior to managing Intel Capital's equity investment practice in China, Lisa served as Intel Capital's Chief of Staff based in Santa Clara, a position in which she managed the operation, program and public aspects of Intel Capital and the organization's participation at the World Economic Forum.
Lisa holds a BS in Computer Science from Peking University and a MBA from the Wharton School of the University of Pennsylvania.
Lisa Zhang brings to the board significant experience in capital markets, investment and acquisition experience and will be actively representing the company in the Silicon Valley, San Francisco Bay Area.
On 21st April, the Company announced the appointment of Dr Wenjun Sheng as a Non- Executive Director.
Dr. Wenjun Sheng brings to the board significant experience in RF SOC semiconductor design, marketing, distribution, management and knowledge of the globalsemiconductor and device markets. Dr Sheng currently serves as the Chairman and Chief Executive Officer of Telink Semiconductor, a leading provider of low power wireless connectivity chips and solutions for Internet of Things (IoT). Telink Semiconductor (www.telink-semi.com) was founded in 2010 and received venture capital backing from Intel Capital in 2015. With over 10 chipset designs in the range, Telink Semiconductor is on target to deliver over 100,000,000 units to their customers in 2016.
Dr. Sheng has over 15 years of semiconductor industry experience, he has shown an ability to grow businesses from inception, to first revenue and profitability in an effective and accelerated manner. Prior to co-founding Telink Semiconductor in 2010, he was VP of RFIC design at Wiscomm Microsystem Inc., a startup company focusing on CMOS satellite TV tuner chip product.
CORPORATE CHANGES
As announced on 29th June, Athan Lekkas has been appointed Chairman and Chief Executive Officer (CEO) of the Company.
At the same time Chris Wood has been appointed Chief Technical Officer (CTO) of the Company and is relocating to the USA.
Michael Clarke tendered his resignation as a Director of the Company effective 31 August 2016.
On the 5th July, Luke Arthur tendered his resignation as Joint Company Secretary.
JOINT COLLABORATION WITH TELINK
The Company announced on 5th May it had entered into a Joint Collaboration and Marketing Agreement ("JCMA") with Telink Semiconductor that will see the parties work together and market their respective products and technologies.
Xped and Telink have a mutual understanding and recognition of each company's capability and technology and have identified an opportunity to jointly develop a new range of semiconductors or IC chips.
The agreement will see each party cross license their respective Intellectual Property ("IP") of the technology being utilised in the agreement on a non-exclusive, world-wide and non-transferable license to the other party.
Further the company announced on 17th May that it would commence development of IOT ADRC Chip. The Telink TLSR8269F512 IoT chip provides a 2.4 GHz radio that is compatible with both 802.15.4 and Bluetooth Low Energy along with 128-bit AES encryption engine and 32-bit RISC processor in a small 5x5 mm package.
The Integrated ADRC IoT chip will target the high volume markets including consumer electronics and lighting, health care, consumer wearables and wireless smart toys
INTEL(R) MOON ISLAND GATEWAY
During the Quarter the Company announced its ADRC technology would soon be compatible and available on the Intel(R) IoT Gateway. On 25Th May the Company announced that it has just completed successful porting of its ADRC gateway services using an Advantech Embedded IoT Gateway running Linux.
The Company was developing a Mini PCIe card with ADRC functionality to allow compatibility with leading Intel(R) IoT gateway manufacturers including Advantech and other OEMs who offer the Mini PCIe expansion slot in their gateway devices.
On 9th June the Company indicated its engineering team had completed the testing of its ADRC technology against Intel(R) Moon Island gateway platform on the Advantech hardware.
The Company has since built a small number of demonstration kits of ADRC gateway software running on Intel(R) D2000 chip on mini PCIe card and configured on Advantech hardware running Moon Island gateway. These were recently shipped overseas to Intel(R) for their testing and review.
XPED DEVICE BROWSER APP
As announced on 27th May, the Company engaged leading software developer Codium to develop and build the next release of the company Device Browser ("DeB") App. Under the agreement, Codium will provide full native Android and iOS Apps.
The release of the Xped App is due in both Apple and Google Play stores during the September quarter. The Company is happy with the progress of development to date and is working closely with Codium and their partners to ensure timely release.
FURTHER PATENTS FILED
During the quarter, the Company continued to expand its Intellectual Property portfolio with further grants and filed applications underway in various jurisdictions. Refer to ASX release on 23rd May 2016 for more information.
LISTED OPTIONS XPEOB UNDERWRITTEN
As announced on 29 June, the Company entered into an underwriting agreement with Otsana Pty Ltd ("Otsana") to underwrite the unexercised listed options expiring 21 July 2016. The Company is pleased that the majority of option holders exercised their rights prior to expiry leaving only a small number of options unexercised.
LEGACY PROJECTS
SOKORIA GEOTHERMAL PROJECT
As announced on 22nd June, the company ended discussions with PT Dalle Energy regarding proposed sale of Sokoria Geothermal Project.
During the quarter, the Company has held discussions with an Asian based geothermal developer who recently acquired a large geothermal project in Indonesia and have the capacity to fund and develop Sokoria project.
The Company is presently assisting this group who are considering the acquisition of the project and will provide a further update to the market should agreements be reached.
AUSTRALIAN GEOTHERMAL PROJECTS
No other direct works were completed on any of the Australian tenements during the quarter, other than in respect of licence renewals and the like to ensure that all of these tenements remain in good standing.
The Company will be divesting its legacy geothermal assets and recently held a meeting with Department of State Development (DSD) to discuss restoring and rehabilitating GEL2 23 and GEL611 in South Australia.
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About XPED Ltd
XPED Ltd (ASX:XPE) is an Australian Internet of Things (“IoT”) technology business. Xped has developed revolutionary and patent-protected technology that allows any consumer, regardless of their technical capability, to connect, monitor and control devices and appliances found in our everyday environment. Xped provides technology solutions for Smart Home, Smart Building, and Healthcare.
At Xped, we’re Making Technology Easy Again(TM)
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