for personal use only - asx · 4/8/2015 · company profile april 2015 contents page 3 bluefish444...

Bluefish444 Company Profile

April 2015www.bluefish444.com

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April 2015

Contents

Page 3 Bluefish444 Background

Page 4 Bluefish444 Technology

Page 5 Bluefish444 Business Model

Page 6 Bluefish444 Financials

Page 7 Bluefish444 Shareholdings

Page 8 Bluefish444 Prospects

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April 2015

Bluefish444 Background

Component of IT Infrastructure for Professional Video

• Bluefish444 is a developer, manufacturer and marketer of video cards for the global professional video industry.

• Video cards are a component of IT infrastructure being deployed by broadcasters and production/post production facilities world wide.

• IT infrastructure uses standard operating systems such as Windows, Mac OS X, Linux etc together with standard IT hardware from manufacturers such as HP, Dell, Apple, Supermicro, Nvidia and others.

• All countries in the world with a TV/Film industry have adopted IT infrastructure at various paces.

• IT infrastructure needs to be maintained and updated/replaced as innovation and workflow improvements advance. It is a fluid and constantly evolving industry that requires the professional video market leaders (broadcasters/production/post-production) to invest in new capex to gain an advantage.

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April 2015

Bluefish444 Technology

• Uncompressed video cards are a conduit for enabling professional video into a computer, where it is processed and then output by the video card for mastering/distribution.

• Video cards are hardware and software working in unison. Each video card needs a compatible driver with Windows, Mac OS X, Linux etc and a software plug in to 3rd party software from Adobe, Avid, Assimilate and others.

• Bluefish video cards are designed in Melbourne. The core component of IP is custom firmware developed in the most expensive I/C on the video card. This firmware IP is transferable into each new generation of hardware design.

• Bluefish444 driver and software plug ins are developed in Melbourne. The software IP developed is leveraged into each new generation of hardware design.

• Bluefish444 has 12+ years of developed IP that has created 10 consecutive generations of video cards, with each product more innovative than the previous generation. The 11th design is currently under development. Firmware IP

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April 2015

Bluefish444 Business Model

• Manufacture video cards with a COGS and sell them at a wholesale price that includes the driver for the operating system and software plug in.

• Sales are denominated in $USD and gross profits vary between 55% - 60%.

Two sales models:-

i) Sell under international Original Equipment Manufacturer deals i.e as a component inside a turnkey solution from a 3rd party manufacturer.

ii) Sell through an international indirect channel of manufacturer’s representatives, distributors and resellers.

• The first business model leverages the sales channel of another manufacturer.• The 2nd business model leverages the sales channel of our hardware and software partners eg. HP, Avid and

Adobe resellers can sell Bluefish444 video cards.• > 95% of Bluefish444 sales are international exports.

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April 2015

Bluefish444 Financials

• $2.2M revenue in 2014 with a break even EBITDA.

• Self funding/perpetuating business since 2012.

• Sales growth of 32% to Dec 2014 $1.45M, with EBITDA $78K.

• Recipient of Federal Governments R&D Cash subsidy program.

• Positive working capital in Balance Sheet with no debt other than $100K Bank OD facility.

• 11 staff at South Melbourne, 1 part time in L.A, 1 commissioned employee UK.

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April 2015

Bluefish444 Shareholdings

• 33% VITEC France - Cornerstone Industry investor with 100 R&D engineers and global operations in a parallel market in the professional video industry.

• 24.5% FGF - Passive Investor

• 32.5% - High Net worth individuals

• 10% - Management

VITEC are a value added shareholder who work collaboratively with Bluefish444 to reduce procurement and manufacturing costs and to co develop products together including Bluefish444 leveraging the vast library of VITEC IP.

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April 2015

Bluefish444 Prospects

4K Capex Upgrade Underway

• The Professional video industry is at the initial stages of a large capex upgrade globally for 4K workflows.

• 4K is known to the consumer as Ultra HD – many TV sets are now UHD capable and the early adopters have them.

• However 4K content is scarce as broadcasters and production/post production facilities have not invested in the IT infrastructure to produce 4K workflows.

• Eventually consumers will visit 4K Cinemas and stream 4K live content.• Bluefish444 is a pioneer in 4K workflows having deployed with our partners

many of the existing 4K workflows worldwide particularly in Japan, who are the leader in 4K production.

• The 11th Bluefish444 hardware design currently under development is targeted squarely at the 4K capex spend. The capex upgrade cycle will last at least the next 5 years.

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for personal use only - asx · 4/8/2015 · company profile april 2015 contents page 3 bluefish444...

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