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Independent Reviews for Venture Investors

An attractive device provider for commercial fleet

Siyata Mobile (SIM.V) is a provider of vehicle mounted mobile communications platform (Push To Talk Over Cellular ("PoC") devices) for commercial fleet. SIM.V's products include: Truckfone, Voyager, and Bagfone. SIM.V also has been in a partnership with Uniden America Corporation since 2017.

The partnership with Uniden America is significant as it provides the company with exclusive rights in North America to market and distribute their innovative devices under the Uniden® brand. In addition, some of SIM.V existing devices, Truckfone and Voyager 3G connected-vehicle-devices in North America were re-branded as the Uniden® UCP100 and Uniden® UCP200, respectively.

Although the company's vertical is niche, the addressable market is large. A major driver for the growth of SIM.V is the phasing out of the 2G network by cellular providers (i.e. AT&T 2016, Rogers 2018 (the only company currently offering 2G services in Canada), Verizon 2019, and T-Mobile 2020).

When Google bought Motorola in 2011, it exited the commercial fleet segment. SIM.V hired ex-google technicians and entered the market. It is estimated that 100K+ of 2G Motorola devices will need to be replaced with a total market opportunity of $150M. In addition, there are over 15 million commercial vehicles in North America which makes the addressable market in the billion dollar range.

SIM.V's clients include Bell, Telus, Costco, Best Buy, the Royal Canadian Mounted Police (RCMP), an unnamed U.S. pharmaceutical company, a defence contractor, the second largest rail company in Canada, and Kenworth Ontario dealerships among others,

SIM.V just recently closed a private placement for $5M which was over-subscribed from its initial objective of $1M. Recently, the company reported having $9M in working capital,

Unlike many micro-cap companies, SIM.V already has analyst coverage (Paradigm Capital). In December 2016, a "Buy” rating was initiated with a one-year price target of $0.70. Three key catalysts cited by them are 2G network shutdown, PoC demand, and new 4G/LTE products development.

Since mid-January, the company is trading sideways but the upside potential makes it an attractive opportunity.

DISCLAIMER: The work included in this article is based on current events, technical charts, and the author’s opinions. It may contain errors, and you shouldn’t make any investment decision based solely on what you read here. This publication contains forward-looking statements, including but not limited to comments regarding predictions and projections. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements. The content of rally is provided for informational and entertainment purposes only and is not a recommendation to buy or sell any security. Always thoroughly do your own due diligence and talk to a licensed investment adviser prior to making any investment decisions - rally cannot take responsibility for your investment decisions.


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