Anyvision has developed a special Anti-Tailgating solution which opens a new market for large facilities with high security demands.
The exchange is comprised of 3 buildings connected internally to form a secure diamond trading compound.
The 80,000 square metre complex houses 1,050 diamond offices and is considered the largest and safest in the world.
Anyvision is now working on securing an agreement to secure the entire compound, which has more than 1500 cameras installed.
Top End is currently preparing the documentation to seek shareholder approval for the Anyvision transaction.
Top End will transition away from the resources sector after signing a share sale agreement to acquire facial recognition company, Anyvision.
Anyvision has the world's first scalable facial recognition engine that works on millions of different identities without loss of performance.
Anyvision is headquartered in Tel Aviv, Israel and aims to serve government and non-government agencies around the world who seek to identify human targets.
Recently, Anyvision has developed a special Anti-Tailgating solution, which opens a new market for large facilities with high security demands.
The Anyvision vendors and Top End's major shareholder Mazil Pty Ltd have voluntarily agreed to escrow their shares for 24 months instead of the original 12 months.
A general meeting of Top End shareholders will be convened to approve the transaction.
Anyvision is currently pursuing a number of near-term sales opportunities for its technology based on a simple revenue model.
The business will earn revenue from one-off system purchase and installations, and future revenue from ongoing support and any updates.
The business has experienced a significant level of inquiry for its technology.
Whilst Homeland Security presents the most immediate opportunity for the business, the technology also has applications to financial services, gaming, pathology, agriculture, and the control of home devices.
Israel diamond industry
The diamond industry is one of Israel's leading export industries worth an estimated US$10 billion.
Israel imports rough diamonds to the value of circa US$5 billion per year, constituting 40% of the total world rough diamond production.
On any given day, around $10 billion of the precious stones are on site at the Israel Diamond Exchange.
This collaboration with the world's largest diamond exchange signifies that Anyvision's technology can be scaled.
Securing a commercial deal with the Israeli Diamond Exchange to secure the compound is a short term catalyst for the stock.
These and additional opportunities will provide a foundation from which Anyvision can build other sales, agreements and partnerships.
According to Statistics MRC, the global facial recognition market is projected to reach US$8.74 billion by 2022.
Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX emerging companies with distribution in Australia, UK, North America and Hong Kong / China.