TSXV:GSI - Post Discussion
Post by
Ciao on Nov 28, 2024 5:24pm
TTC project will be over $110M
The awarded project appears to have a value of $110M
Financial Summary
Funds for this pilot project are included in the TTC’s 2024-2033 Capital Budget and Plan under Program 7.1, ITS Systems/Infrastructure Program, Corporate Camera Strategy and Delivery project, which was approved by the TTC Board on December 20, 2023, and by City Council on February 14, 2024.
The total project cost for the Corporate Camera Strategy and Delivery project is approximately $120.6 million, including costs to the end of 2023 of $4.5 million, approved cash flow funding of $6.8 million and unfunded estimates of $109.3 million in the TTC’s 2024-2033 Approved Capital Budget and Plan. Beyond the pilot for streetcar illegal passing, the Corporate Camera Strategy and Delivery project also includes projects like Body-Worn Camera and Special Constable In-Car Camera System.
I don't know what the timeline is for full deployment, but I've said it before, the TTC would likely be more comfortable choosing a vendor with a market cap of over $100M rather than one with a $60M market cap for a project this size. It would be good to have adequate cash in the bank to support larger orders. You will see that with share price spikes, micro companies take advantage of favourable market conditions to raise funds to top off their treasury. Perhaps GSI could have done so a few years ago with about 10% dilution by raising $10M at $1 per share on a 10M share / unit financing.
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