Asqella - A world leader in dynamic screening for security

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!

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).

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

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.