|By Marketwired .||
|December 28, 2012 05:11 AM EST||
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 12/28/12 -- EastCoal Inc. ("EastCoal" or "the Company") (TSX VENTURE:ECX)(AIM:ECX) -
-- Shares commence trading on AIM -- Placing of 67,478,501 common shares of the Company at a price of GBP 0.1221 per Placing Share, together with a concurrent issuance of 10,326,577 common shares of the Company as settlement for a CAD$2,000,000 loan received by the Company from Salida (on behalf of a fund managed by Salida) at a deemed conversion price of GBP 0.1221 per common share. The Placing proceeds, together with the proceeds of the Salida loan which will be converted into common shares and settled concurrently with the Placing will amount to gross proceeds of GBP 9.5 million.
Assets and Strategy
-- Company has 100% interests in the Verticalnaya high grade anthracite mine and the Menzhinsky coking coal mine, in eastern Ukraine -- Strategy to produce 3 million saleable tonnes per annum -- First external player in a region of significant coal reserves -- EastCoal's Board has extensive experience with the markets in London. Three of the Company's directors were either directors or officers of Western Coal Corp., which, prior to its acquisition by Walter Energy, was the largest company, by market capitalization, on AIM.
EastCoal Inc., a mineral development company engaged in the acquisition and development of mineral resource properties, announces the commencement of trading on AIM ("Admission") at 8.00 a.m. today after a placing ("the Placing"). Pursuant to the Placing, the Company has issued 67,478,501 common shares at a price of GBP 0.1221 per share to institutional investors and certain directors of the Company, together with a concurrent issuance of 10,326,577 common shares of the Company as settlement for a CAD$2,000,000 loan received by the Company from Salida Capital LP ("Salida") (on behalf of a fund managed by Salida) at a deemed conversion price of GBP 0.1221 per common share, and the Placing proceeds, together with the proceeds of the Salida loan which will be converted into common shares and settled concurrently with the Placing will amount to gross proceeds of GBP 9.5 million. Cenkos Securities plc is acting as the Nominated Advisor for the purposes of the Admission and the broker for the Placing.
EastCoal obtained the rights to the Verticalnaya Mine, located in the Donbass Region, in 2009 and is currently advancing the development of this anthracite mine, targeting production in the first quarter of 2013.
In addition, following the Company's acquisition of Inter-Invest Coal LLC in 2012, EastCoal is developing and increasing production from the Menzhinsky Coal Mine. This is an operating underground metallurgical coal mine also located on the Eastern side of Ukraine. Together with the New Wash Plant at the Menzhinsky Mine, production is expected to increase from approximately 6,000 tonnes per month currently, to 26,000 tonnes per month during 2013.
The Company's objective is to increase total production from the current level to approximately three million saleable coal tonnes per annum.
Summary of Reserves and Resources
---------------------------------------------------------------------------- Reserves (Mt) Resources (Mt) ---------------------------------------------------------------------------- Mine Proved Probable Measured Indicated Total ---------------------------------------------------------------------------- Verticalnaya 5.6 21.3 57.3 33.6 90.9 ---------------------------------------------------------------------------- Menzhinsky seams 4.6 2.2 6.3 34.5 40.8 ---------------------------------------------------------------------------- Menzhinsky waste tip - 0.6 - 0.7 0.7 ---------------------------------------------------------------------------- Total 10.2 24.1 63.6 68.8 132.4 ---------------------------------------------------------------------------- JORC Reserves and Resources Statement as at 1 December 2012
John Byrne, Chairman of EastCoal Inc. said: "Coal production from the Donbass basin in eastern Ukraine historically produced approximately 70% of the Russian Empire's coal rising to 200mtpa in the 1970s. Since this period the region has seen a decline in investment to the extent that Ukraine has had to import up to 11mt of coal per annum. In 2009 EastCoal recognized the opportunity created by privatisation and restructuring initiatives from the Ukrainian Government resulting in the Company becoming the first external player in a region of significant coal reserves. The Company has acquired and is developing two near term producing projects to meet the growing domestic and export demands for both the power and steel industries."
Abraham Jonker, Director and President of EastCoal Inc., commented: "I am pleased to announce commencement of trading of the Company's shares on AIM. This decision was largely driven by increased investor interest from the United Kingdom. I am confident that the experienced management team that we have assembled, combined with the highly attractive project fundamentals would render our projects an extremely exciting opportunity for investors."
Placing and Admission Statistics Placing Price 12.21 Pence CAD$ 0.194(1) Number of existing Common Shares in issue Prior to the Placing and concurrent Salida loan conversion and settlement(2) 247,763,839 Number of Placing shares being issued Pursuant to the Placing 67,478,501 Number of common shares being issued concurrent to the Placing in accordance with the shares for debt 10,326,577 settlement Number of Common Shares in issue following Placing and admission 325,568,917 Percentage of the enlarged issued share capital being Placed and issued pursuant to the shares for debt settlement(2) 23.90 Per cent Estimated Gross Proceeds of the Placing and concurrent Salida loan conversion and settlement GBP 9.5 million CAD$15 million(3) Estimated net Proceeds of the Placing receivable by the Company and concurrent Salida loan conversion and settlement GBP 7.7 million CAD$12.2 million Market Capitalisation immediately following completion of the Placing and concurrent Salida loan conversion and settlement GBP 39.7 million CAD$63.0 million(3) AIM 'ticker' ECX ISIN CA2761651074 (1) Applying the exchange rate of GBP 1.00 : CAD $1.5862 stated by Bank of Canada at www.bankofcanada.ca as at noon on 10 December 2012 in Canada. (2) Assuming there are no changes to the issued share capital of the Company between the date of this document and the date of admission becoming effective. (3) Based on the Company's share price of CAD$0.215 as at 10 December 2012 and assuming there are no changes to the issued share capital of the Company between the date of this document and the date of admission becoming effective.
Overview of the Company
EastCoal Inc. is a mineral development company registered in British Columbia and engaged in the acquisition and development of mineral resource properties. Since 2009, the Company has been focused on the development of coal mining interests in Ukraine.
East Coal Company LLC, a 100%-owned subsidiary of EastCoal Inc., obtained the rights to the Verticalnaya Mine and is currently advancing the development of this anthracite mine, targeting production in the first quarter of 2013. In addition, following the Company's acquisition of Inter-Invest Coal LLC ("Inter-Invest") in the second quarter of 2012, EastCoal is developing and increasing production from the Menzhinsky Mine. This is an operating underground metallurgical coal mine also located on the Eastern side of Ukraine. With the addition of the New Wash Plant at the Menzhinsky Mine, production is expected to increase from approximately 6,000 tonnes per month currently, to 26,000 tonnes per month during 2013.
The Company's objective is to increase total production from the current level to approximately three million saleable coal tonnes per annum.
The Company's principal assets include the Verticalnaya and Menzhinsky Mines:
EastCoal obtained the rights to the Verticalnaya Mine in 2009 from the Ukrainian Government. It had been an operating coal mine until 1998 when production ceased and the mine was placed in care and maintenance. The quality of its coal seams is well defined by the results of various drilling programmes and previous extraction work. EastCoal's development strategy is to develop two seams, H11 and H11B from two new surface drifts at Verticalnaya North Project ("VNP"), which will provide the mine with its early production and cash flow. At the same time the Company will rehabilitate the existing mine infrastructure to provide access to the H8 seam. The rehabilitation process will include dewatering and recovery of certain roadways in the mine and investment in certain infrastructure upgrades.
In October 2010, following a period of planning, permitting, and detailed improvements, the Company commenced construction of the VNP, developing the main access drifts and initial gate road access for coal production from the first longwall panel, East 1. East 1 will be 150 metres in length and will be extracted at a working height of 1.1 metres. It is planned to commence production from East 1 in the first quarter of 2013. To date, more than 2,000 meters of drift and roadway development has been completed at VNP.
Production from the H8 seam via the existing mine is scheduled to commence in 2018. The Verticalnaya mine and VNP is projected to produce in aggregate approximately 2.3 million tonnes per annum of saleable high quality anthracite for local and export markets when fully ramped up by 2019 continuing at approximately that level until 2023, and thereafter reducing over time until the end of the current mine plan in 2029.
Since 1998, the Menzhinsky Mine has been in limited operation and currently produces approximately 6,000 tonnes per month of coking coal.
The Company acquired Inter-Invest, the company leasing the Menzhinsky Mine, on 31 May 2012 following a private placement in the UK and Canada which raised aggregate gross proceeds of approximately CAD$17.01 million. Net proceeds from the private placing have been used, inter alia, to complete construction of the 350 tonne per hour New Wash Plant which commenced commissioning and production in October 2012.
The New Wash Plant is currently focused on processing coal from the Company's existing waste tip. The initial processing of waste from Waste Tip No. 4 has shown a 10 per cent. coal content and initial analysis indicates that reprocessing the tip is economically viable.
The Company expects to increase total production from Menzhinsky from the current level of approximately 6,000 tonnes per month to 26,000 tonnes per month during 2013.
As the underground mining is developed, and further longwalls are introduced, the planned tonnage is projected to increase year on year to reach the design capacity run of mine tonnage of one million tonnes per year.
The Company's business and operations require specialised skills and knowledge in the areas of geology, drilling, logistical planning and implementation of extraction programmes, treasury and accounting. The Company has these abilities through its management, consultants and contractors. The Board has extensive experience in successfully developing mines and has a strong knowledge of the region. To date, the Company has been successful in hiring and retaining employees and consultants with the required skills and believes it will continue to be able to do so as it seeks to develop each of the Verticalnaya Mine and the Menzhinsky Mine.
Skills needed for financing activities, which will be critical to the implementation of the Company's strategy, are available through the Board and management. The composition of the Board has changed in the past two years, bringing significant experience in the financing of coal projects as well as technical and management skills in developing coal projects.
John Byrne (63), Executive Chairman and Chief Executive Officer
Mr. Byrne joined the Company as a Director and Executive Chairman on 27 July 2010. He has more than 35 years experience in the resource industry as an investor and resource business developer. Mr. Byrne has had extensive involvement in the resources industry in Australia, Canada and South Africa with a particular focus on financing new and established resource projects.
Mr. Byrne served as the chairman of the board of Western Coal Corp. until 31 May 2010 and as a Director of that company from June 2001 to 31 May 2010. He has been an executive chairman of Deepgreen Minerals Corporation Limited since 30 March 2007 and serves as executive chairman of Wasabi Energy Ltd.
Abraham Jonker (44), Director and President
Mr. Jonker was the chief financial officer of Western Coal Corp. for just under two years until its acquisition by Walter Energy Inc. in 2011. He is a member of the Board of Directors of Firestone Diamonds plc, Canada Coal Inc., where he is also CEO and President, and Mandalay Resources Corporation, where Mr Jonker is also the non-executive chairman of the board. Mr. Jonker has almost 20 years of accounting and corporate finance experience primarily in the mining industry. Mr. Jonker is a Chartered Accountant registered in South Africa (South African Institute of Chartered Accountants - SAICA) and England and Wales (Institute of Chartered Accountants of England and Wales - ICAEW). Mr. Jonker holds a Masters Degree in South African and International Tax from the Rand Afrikaans University. Mr. Jonker became the President of EastCoal Inc. on 1 March 2012.
Colin Stocks (70), Director and Technical Director
Mr. Stocks has over 35 years of management experience with British Coal, during which time he attained the position of colliery manager. Upon leaving British Coal he became a consultant mining engineer working for several consultancy companies on projects in the UK, Spain, India, China, USA, Egypt and Ukraine. These included a long term assignment as the team leader of a EU funded project to assist the Ukrainian Government in their coal industry re-structuring programme. Thereafter, Mr. Stocks was associate consultant mining engineer with IMC Group Consulting, then senior mining engineer with Cambrian Mining plc and Coal International plc (now Western Coal Corp.). He assisted these companies expand their mining business in both the EU and Eastern Europe and also worked with Xtract Energy plc, an associate of Cambrian Mining plc and Coal International plc. During the same period he also undertook the duties of senior mining engineer for Ukraine Coal Limited. Prior to joining the Board Mr. Stocks worked with East Coal on pre-feasibility studies and the preparation of documentation for obtaining the rights to Verticalnaya Mine. Mr. Stocks has been employed as an independent consultant mining engineer to the Company since October 2008 and became the Company's Technical Director and a member of the Board in 2009.
John Conlon (72), Non-Executive Director
Mr. Conlon has been involved in the mining industry since 1972, as an owner of a mining equipment supply company. Since 1980, he has been part owner of a mining contracting company focusing on mine development and in 1995 he formed a company engaged in the business of repair and manufacturing of mining equipment. He serves or has served as a director of several companies including Cambrian Mining plc (now Western Canadian Coal Corp.), Mandalay Resources Corp., Coal International plc, Xtract Energy plc, and Western Canadian Coal Corp., including being part of that company's audit committee from 2002 to 2009.
Gregory Cameron (39), Non-Executive Director
Gregory M. Cameron brings 14 years of deal experience focused on small and mid capitalisation companies in North America and abroad. Mr. Cameron has held senior positions in investment banking at Canaccord Capital (SVP Investment Banking), MGI Securities (Founder) and Macquarie Capital Markets Canada formerly Orion Securities (SVP Investment Banking). During his 12 year career in banking, Mr. Cameron has worked on a significant number of equity, debt, merger and acquisitions and restructurings. Currently, Mr. Cameron is the President of Colby Capital Limited, a private Merchant Bank in Toronto, Canada. Mr. Cameron is the former Chairman and a current director of Cub Energy Inc. an oil and gas company focused on developing significant oil and gas reserves in Ukraine, and a board member of Voyageur Oil and Gas Corporation, an oil and gas exploration company with significant assets in Tunisia. Mr. Cameron is a graduate of Saint Mary's University in Halifax, Nova Scotia, Canada with a bachelor of commerce in finance and accounting and holds numerous financial industry designations.
Frank Moxon (46), Non-Executive Director
Frank Moxon is an experienced corporate financier specialising in natural resources. Now practising through his own firm, Hoyt Moxon, he was previously head of corporate finance and head of natural resources at Williams de Broe at the time it was acquired by Evolution Securities. He was, until August 2012, senior independent non-executive Director of Cove Energy plc and is currently chairman of Silvermere Energy plc and Imperial Minerals plc, and a non-executive director of Whetstone Minerals Ltd. and the Chartered Institute for Securities & Investment. He is a fellow of the Institute of Materials, Minerals and Mining.
Senior Management and Operational Team
George Lawton, Chief Financial officer
Mr. Lawton is a chartered accountant with extensive experience at CFO and VP Finance level providing strategic, financial and operating leadership to public companies in the mining, aerospace, entertainment, and business services industries. Mr. Lawton has been a consultant with the Company since May 2011, becoming CFO in April 2012. Prior to this, Mr. Lawton was the senior vice president of operational finance for Uranium One Inc.
Hendrik Dietrichsen, General Counsel
Mr. Dietrichsen is a lawyer with more than 30 years' experience as a legal practitioner and advising at senior management and board level within private and public listed companies, both local and international. He has also held various positions at board level. He has been a consultant with the Company since June 2012.
Reasons for the Placing, Admission and Use of Proceeds
The Directors believe that Admission will be an important step in the Group's development and will provide a platform from which to grow the business in the future. Admission is expected to provide additional liquidity for investors in the Company's shares and will enable the Group to attract, retain and incentivise its Directors and key employees through the operation of the Share Option Schemes.
In addition, Admission will potentially provide the Group with access to further capital in the future, should the Directors identify new acquisition opportunities which meet the Group's strategic objectives. The Company has adopted a mining plan designed to increase production at its mines. The fulfilment of that plan will require the Group to secure further external funding (in addition to the Placing Proceeds) as the mines are developed and production is increased. Such funds would be needed in order to finance further capital expenditure, for example, additional longwalls and improved processing facilities as production increases.
The Directors intend to introduce continued improvements and efficiencies to current mining practices in order to enhance the cash generative activities at the Menzhinsky Mine. The Directors will focus on optimising return from the New Wash Plant over the near term and will only commence construction of the Verticalnaya longwall once they are satisfied that the wash plant is operating sustainably at a satisfactory level.
Further investment in capital expenditure for the development of additional longwalls will be made only once the Directors are satisfied sufficient funds are available. In the event that the no further funds are available then aspects of the current mining plan would be deferred until such time as cash reserves were built up from the washing operations at Waste Tip No. 4 to fund additional plant on the terms then available.
The Placing proceeds and the proceeds of the Salida loan to be satisfied with the concurrent shares for debt settlement will be utilised as follows:
-- Capital Expenditure CAD$5.9 million; -- Repayment of debenture CAD$1.5 million; -- Working capital CAD$4.8 million; and -- Transaction fees CAD$2.9 million.
Mr. Colin Stocks AMIMinE, IEng, is a Qualified Person in accordance with National Instrument 43-101 - Standards of Disclosure for Mineral Projects. Mr. Stocks has read and approved the contents of this news release.
This announcement includes "forward-looking statements" which include all statements other than statements of historical facts, including, without limitation, those regarding the Company's financial position, business strategy, plans and objectives of management for future operations, or any statements preceded by, followed by or that include the words "targets", "believes", "expects", "aims", "intends", "will", "may", "anticipates", "would, "could" or similar expressions or negatives thereof. Such forward-looking statements involve known and unknown risks, uncertainties and other important factors beyond the Company's control that could cause the actual results, performance or achievements of the Company to be materially different from future results, performance or achievements expressed or implied by such forward-looking statements. Such forward-looking statements are based on numerous assumptions regarding the Company's present and future business strategies and the environment in which the Company will operate in the future. These forward-looking statements speak only as at the date of this document. The Company expressly disclaims any obligation or undertaking to disseminate any updates or revisions to any forward-looking statements contained herein to reflect any change in the Company's expectations with regard thereto or any change in events, conditions or circumstances on which any such statements are based unless required to do so by applicable law or the AIM Rules for Companies.
Definitions "EastCoal" or the "Company" EastCoal Inc. a company incorporated in British Columbia with incorporation number BC0318912 and having its registered office at 20th floor, 250 Howe Street Vancouver, British Columbia "East Coal Company" East Coal Company LLC, a company incorporated in Ukraine "Inter-Invest" Inter-Invest Coal LLC, a company incorporated in Ukraine "Menzhinsky Mine" An underground coal mine, located in Lugansk oblast (province) on the eastern side of Ukraine, (sometimes known as the Maria Glubokaya mine) "New Wash Plant" The new wash plant installed at the Menzhinsky mine "Verticalnaya Mine" A coal mine located in the Dolzhano-Revenetskiy region of Donbass "VNP" The Verticalnaya North Project, an early production project at the Verticalnaya Mine
+1 (604) 681-8069
+1 (604) 681-8069
Cenkos Securities plc
Ken Fleming/Alan Stewart/Derrick Lee
+44 (0) 131 220 6939
Jos Simson/Emily Fenton/Mike Bartlett
+44 (0) 207 920 3150
The 3rd International Internet of @ThingsExpo, co-located with the 16th International Cloud Expo - to be held June 9-11, 2015, at the Javits Center in New York City, NY - announces that its Call for Papers is now open. The Internet of Things (IoT) is the biggest idea since the creation of the Worldwide Web more than 20 years ago.
Oct. 2, 2014 12:30 PM EDT Reads: 3,223
Noted IoT expert and researcher Joseph di Paolantonio (pictured below) has joined the @ThingsExpo faculty. Joseph, who describes himself as an “Independent Thinker” from DataArchon, will speak on the topic of “Smart Grids & Managing Big Utilities.” Over his career, Joseph di Paolantonio has worked in the energy, renewables, aerospace, telecommunications, and information technology industries. His expertise is in data analysis, system engineering, Bayesian statistics, data warehouses, business intelligence, data mining, predictive methods, and very large databases (VLDB). Prior to DataArcho...
Oct. 2, 2014 11:00 AM EDT Reads: 1,171
Cultural, regulatory, environmental, political and economic (CREPE) conditions over the past decade are creating cross-industry solution spaces that require processes and technologies from both the Internet of Things (IoT), and Data Management and Analytics (DMA). These solution spaces are evolving into Sensor Analytics Ecosystems (SAE) that represent significant new opportunities for organizations of all types. Public Utilities throughout the world, providing electricity, natural gas and water, are pursuing SmartGrid initiatives that represent one of the more mature examples of SAE. We have s...
Oct. 2, 2014 11:00 AM EDT Reads: 1,208
The Internet of Things (IoT) is going to require a new way of thinking and of developing software for speed, security and innovation. This requires IT leaders to balance business as usual while anticipating for the next market and technology trends. Cloud provides the right IT asset portfolio to help today’s IT leaders manage the old and prepare for the new. Today the cloud conversation is evolving from private and public to hybrid. This session will provide use cases and insights to reinforce the value of the network in helping organizations to maximize their company’s cloud experience.
Oct. 2, 2014 08:00 AM EDT Reads: 1,387
Disruptive macro trends in technology are impacting and dramatically changing the "art of the possible" relative to supply chain management practices through the innovative use of IoT, cloud, machine learning and Big Data to enable connected ecosystems of engagement. Enterprise informatics can now move beyond point solutions that merely monitor the past and implement integrated enterprise fabrics that enable end-to-end supply chain visibility to improve customer service delivery and optimize supplier management. Learn about enterprise architecture strategies for designing connected systems tha...
Oct. 2, 2014 08:00 AM EDT Reads: 1,237
IoT is still a vague buzzword for many people. In his session at Internet of @ThingsExpo, Mike Kavis, Vice President & Principal Cloud Architect at Cloud Technology Partners, will discuss the business value of IoT that goes far beyond the general public's perception that IoT is all about wearables and home consumer services. The presentation will also discuss how IoT is perceived by investors and how venture capitalist access this space. Other topics to discuss are barriers to success, what is new, what is old, and what the future may hold.
Oct. 1, 2014 10:00 PM EDT Reads: 1,877
Whether you're a startup or a 100 year old enterprise, the Internet of Things offers a variety of new capabilities for your business. IoT style solutions can help you get closer your customers, launch new product lines and take over an industry. Some companies are dipping their toes in, but many have already taken the plunge, all while dramatic new capabilities continue to emerge. In his session at Internet of @ThingsExpo, Reid Carlberg, Senior Director, Developer Evangelism at salesforce.com, to discuss real-world use cases, patterns and opportunities you can harness today.
Oct. 1, 2014 08:30 PM EDT Reads: 2,253
All major researchers estimate there will be tens of billions devices – computers, smartphones, tablets, and sensors – connected to the Internet by 2020. This number will continue to grow at a rapid pace for the next several decades. With major technology companies and startups seriously embracing IoT strategies, now is the perfect time to attend @ThingsExpo in Silicon Valley. Learn what is going on, contribute to the discussions, and ensure that your enterprise is as "IoT-Ready" as it can be!
Oct. 1, 2014 05:00 PM EDT Reads: 2,447
Software AG helps organizations transform into Digital Enterprises, so they can differentiate from competitors and better engage customers, partners and employees. Using the Software AG Suite, companies can close the gap between business and IT to create digital systems of differentiation that drive front-line agility. We offer four on-ramps to the Digital Enterprise: alignment through collaborative process analysis; transformation through portfolio management; agility through process automation and integration; and visibility through intelligent business operations and big data.
Sep. 30, 2014 10:30 AM EDT Reads: 1,635
There will be 50 billion Internet connected devices by 2020. Today, every manufacturer has a propriety protocol and an app. How do we securely integrate these "things" into our lives and businesses in a way that we can easily control and manage? Even better, how do we integrate these "things" so that they control and manage each other so our lives become more convenient or our businesses become more profitable and/or safe? We have heard that the best interface is no interface. In his session at Internet of @ThingsExpo, Chris Matthieu, Co-Founder & CTO at Octoblu, Inc., will discuss how thes...
Sep. 29, 2014 06:45 AM EDT Reads: 1,944
Last week, while in San Francisco, I used the Uber app and service four times. All four experiences were great, although one of the drivers stopped for 30 seconds and then left as I was walking up to the car. He must have realized I was a blogger. None the less, the next car was just a minute away and I suffered no pain. In this article, my colleague, Ved Sen, Global Head, Advisory Services Social, Mobile and Sensors at Cognizant shares his experiences and insights.
Sep. 28, 2014 09:45 AM EDT Reads: 1,587
We are reaching the end of the beginning with WebRTC and real systems using this technology have begun to appear. One challenge that faces every WebRTC deployment (in some form or another) is identity management. For example, if you have an existing service – possibly built on a variety of different PaaS/SaaS offerings – and you want to add real-time communications you are faced with a challenge relating to user management, authentication, authorization, and validation. Service providers will want to use their existing identities, but these will have credentials already that are (hopefully) ir...
Sep. 27, 2014 11:30 PM EDT Reads: 1,965
Can call centers hang up the phones for good? Intuitive Solutions did. WebRTC enabled this contact center provider to eliminate antiquated telephony and desktop phone infrastructure with a pure web-based solution, allowing them to expand beyond brick-and-mortar confines to a home-based agent model. It also ensured scalability and better service for customers, including MUY! Companies, one of the country's largest franchise restaurant companies with 232 Pizza Hut locations. This is one example of WebRTC adoption today, but the potential is limitless when powered by IoT. Attendees will learn rea...
Sep. 27, 2014 10:30 PM EDT Reads: 1,877
From telemedicine to smart cars, digital homes and industrial monitoring, the explosive growth of IoT has created exciting new business opportunities for real time calls and messaging. In his session at Internet of @ThingsExpo, Ivelin Ivanov, CEO and Co-Founder of Telestax, will share some of the new revenue sources that IoT created for Restcomm – the open source telephony platform from Telestax. Ivelin Ivanov is a technology entrepreneur who founded Mobicents, an Open Source VoIP Platform, to help create, deploy, and manage applications integrating voice, video and data. He is the co-founder ...
Sep. 27, 2014 10:30 PM EDT Reads: 2,340
The Internet of Things (IoT) promises to create new business models as significant as those that were inspired by the Internet and the smartphone 20 and 10 years ago. What business, social and practical implications will this phenomenon bring? That's the subject of "Monetizing the Internet of Things: Perspectives from the Front Lines," an e-book released today and available free of charge from Aria Systems, the leading innovator in recurring revenue management.
Sep. 27, 2014 09:45 PM EDT Reads: 2,560
The Internet of Things will put IT to its ultimate test by creating infinite new opportunities to digitize products and services, generate and analyze new data to improve customer satisfaction, and discover new ways to gain a competitive advantage across nearly every industry. In order to help corporate business units to capitalize on the rapidly evolving IoT opportunities, IT must stand up to a new set of challenges.
Sep. 27, 2014 08:45 PM EDT Reads: 2,447
There’s Big Data, then there’s really Big Data from the Internet of Things. IoT is evolving to include many data possibilities like new types of event, log and network data. The volumes are enormous, generating tens of billions of logs per day, which raise data challenges. Early IoT deployments are relying heavily on both the cloud and managed service providers to navigate these challenges. In her session at 6th Big Data Expo®, Hannah Smalltree, Director at Treasure Data, to discuss how IoT, Big Data and deployments are processing massive data volumes from wearables, utilities and other mach...
Sep. 27, 2014 01:00 PM EDT Reads: 2,108
P2P RTC will impact the landscape of communications, shifting from traditional telephony style communications models to OTT (Over-The-Top) cloud assisted & PaaS (Platform as a Service) communication services. The P2P shift will impact many areas of our lives, from mobile communication, human interactive web services, RTC and telephony infrastructure, user federation, security and privacy implications, business costs, and scalability. In his session at Internet of @ThingsExpo, Erik Lagerway, Co-founder of Hookflash, will walk through the shifting landscape of traditional telephone and voice s...
Sep. 26, 2014 11:45 PM EDT Reads: 1,637
While great strides have been made relative to the video aspects of remote collaboration, audio technology has basically stagnated. Typically all audio is mixed to a single monaural stream and emanates from a single point, such as a speakerphone or a speaker associated with a video monitor. This leads to confusion and lack of understanding among participants especially regarding who is actually speaking. Spatial teleconferencing introduces the concept of acoustic spatial separation between conference participants in three dimensional space. This has been shown to significantly improve comprehe...
Sep. 26, 2014 10:45 PM EDT Reads: 1,552
The Internet of Things is tied together with a thin strand that is known as time. Coincidentally, at the core of nearly all data analytics is a timestamp. When working with time series data there are a few core principles that everyone should consider, especially across datasets where time is the common boundary. In his session at Internet of @ThingsExpo, Jim Scott, Director of Enterprise Strategy & Architecture at MapR Technologies, will discuss single-value, geo-spatial, and log time series data. By focusing on enterprise applications and the data center, he will use OpenTSDB as an example...
Sep. 26, 2014 07:45 PM EDT Reads: 2,363