Convertible bond
15 Days left

Asqella - A world leader in dynamic screening for security

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anonymous about 3 hours ago

How does your product differ from Patriot One Technologies' Patscan? What are the pros & cons of Argon vs. Patscan? What does your IP protect vs. Patscan's IP?

Asqella Oy
Asqella Oy
about 2 hours ago

Hi - thank you for the question;

Main differentiators: 1) ARGON is a passive system - no irradiation of the persons with any artificial illumination 2) PatScan is primarily a metal detector - it is intended for the detection of metallic weapons (guns, bladed weapons). ARGON pretty much sees all materials. 3) no matter how much AI wizardy is thrown at the problem - the underlying raw data fidelity determines the efficacy of any security screening system. I can confidently say that in this aspect our product can reach a performance (probability of detection - high, probability of false alarm - low) that is one of the best (if not the best) out there. Quantitative comparison is however difficult - Only government organisations who vet these kind of systems know how each system compares to one another, and this data is highly classified, for obvious reasons. 4) The fever detection capability under development is only accessible to passive (thermal) imagers, such as ours. PatScan would have to revert to old-school infrared thermography 5) Our IPR is based on a completely different architecture - the core of the ARGON houses super-sensitive THz detectors of our own design, and basically the whole detection chain from Silicon to the user interface is our own IPR. Basically, the difference is IPR is like comparing an infrared camera to a 5G base station, that much different!

anonymous 1 day ago

Dear Asqella, Interesting case, but I haven't done investment using a convertible loan bond before, how does it compare to a regular equity investment? Why have you chosen convertible bond as instrument? Thanks!

Asqella Oy
Asqella Oy
about 15 hours ago

Hi,

Thank you for bringing this question up!

Basically, a Convertible Loan Bond is a loan where the intent is to convert it to shares at a later stage. As long as the loan is not converted, it will receive an annual interest of 8%, paid once / year, until the loan is paid back at the end of the loan period.

We chose this instrument, as it provides additional security compared to equity for the investor and is well suited for the dynamic situation our company is at this moment.

For instance, in the case of a Convertible Loan, share price does not have to be predetermined before opening the round, but rather it is determined by the outcome during the loan period (i.e. whether there is a listing/exit, an equity investment round, in which cases the conversion takes place).

anonymous 3 days ago

VALUATION Dear Asqella, Sounds very promising! Just one question, please: You say "If none of the above described events leading to conversion ... has taken place ...the bondholders can choose to convert the outstanding principal amount of the bonds into the shares of the Company for EUR 8 per share." This would correspond to which valuation of the company, please? Thannk you and best regards, Joachim

Asqella Oy
Asqella Oy
2 days ago

With 425 789 shares, that share price corresponds to a enterprise valuation of 3.4M€.

Asqella Oy
Asqella Oy
12 days ago

From: Anonymous

Haluasin vastauset seuraaviin kysymyksiin: / I'd like some answers to the following questions:

  1. maksetaanko laina takaisin vasta lopussa / is the loan paid back at the end (of the loan period)?
  2. maksetaanko korko kerran /kk vai /vuosi vai vasta laina-ajan lopussa / Is interest paid per month, per year or by the end of the loan period?
  3. voiko lainan konvertoida yhtiön osakkeiksi ja jos voi niin millä hinnalla/osake / can the loan be converted to shares, and if yes, at what price per share?
  4. mikä on yhtiön osakkeiden kokonaismäärä? Total number of shares in the company?

Vastaukset / Answers: 1) Käytännössä kyllä. Yhtiöllä on periaatteessa mahdollisuus maksaa laina pois laina-aikana kunkin vuoden koronmaksupäivänä (15.1.). Jos näin menetellään, yhtiö maksaa myös 75% koroista jotka olisivat kertyneet laina-aikana (ks Convertible Bond Agreement - sopimus, kohta 6.2.) / In practice yes. The Company has the right to pay back the loan during the loan period each interest payment date (15th Jan). If this should happen, the Company will pay also 75% of the scheduled interest payments (see Convertible Bond Agreement, subsection 6.2.) 2) Koronmaksupäivä on vuosittain tammikuun 15 päivä. / the Interest is paid annually every January 15th 3) Voi, ja konversiohinta riippuu skenaariosta/ Yes, and the conversion price depends on the share price: a) Exit / listautuminen - osakekohtainen hinta riippuu exit valuaatiosta siten, että lainanantajat saavat lainasummansa kaksinkertaisena takaisin (kunhan exit/listautumisvaluaatio on yli ~10 M€) kun nämä osakkeet myydään exitissä/listautumisessa. / Exit or listing - share price depends on the exit valuation so that the lenders get their loan amount back with a multiplier of two (as long as the exit or listing valuation is over ~10M€) when these multiple conversion shares are sold at exit/listing b) Kvalifioitu rahoituskierros (yli 1 M€ uutta pääomaa) - lainoittajat saavat 25% alennuksen osakekohtaisesta hinnasta. / In a qualified investment round (over 1 M€ of equity investment from a new investor) - lenders get a 25% discount on the share price c) jos kumpikaan 1-2 ei toteudu laina-ajan loppuessa, lainoittajilla on mahdollisuus konvertoida laina osakekohtaiseen hintaan 8€/osake. Huom - edellisen equity-kierroksemme osakekohtainen hinta oli 43 €/osake! / Should neither a) or b) take place by the end of the loan period, the lenders have the option to convert the loan at 8€/share. Note that the share price in our last equity round was 43€ per share! 4) Yhtiöllä on osakkeita yhteensä 425 789 osaketta / there are a total of 425 789 shares in the company.

anonymous 13 days ago

A few questions on your products related to IP and components:

How did you protect your IP world wide? How would you ensure the IP is not copied? How is your products manufacturing depends on the semiconductors? and How is the global shortage impacting you currently and in the future?

Asqella Oy
Asqella Oy
13 days ago

We have a number of patents (US, Europe, China) that protect the core technology within the ARGON. We, and our suppliers have eyes out on competitive products, and such infringements would come to our attention at a short notice. From there on, we would take the necessary steps to deal with infringements. So far, we've not encountered any suspicious products. This is partly due to the fact that while everything is copyable, the ARGON is a very complex, multi-domain expertise requiring product, that copying it is anything but straight forward. In addition to the patents, there is a huge amount of "secret sauce" (hardware, firmware, software and test and calibration methods) which is not public, and treated as a trade secret. As for the IC shortage, whilst the core sensor technology is our own IPR, and manufactured by our subcontractor, and as such is not influenced by IC shortages, the product does incorporate custom made electronics. Thankfully, our electronics subcontractors handle most of the sourcing, and are quite experienced in it, so we expect that the IC shortage shouldn't be of great concern, especially as we have a small stock of nearly completed systems at hand, plus a small stock of electronics components. In the case some components a found to be unavailable, the workaround would be appropriate design changes that use alternative components with better availability. Thanks to our in-house and subcontracted design capability, this is relatively straight forward, but imposes some delivery time penalty due to the necessary design work.