Small-Cap Conviction BUY - Adveritas (AV1) Initiation of Coverage AV1 is an early-stage technology firm which has built a best-in-class ad fraud detection and prevention software solution called TrafficGuard to address the global problem (estimated at being close to ~$100bn p.a.) of ad fraud & invalid traffic in the booming digital marketing industry. AV1 has been built for scale, and a large amount of resource has been invested into product development and design to ensure AV1 have a top-quality product. The product is built using their proprietary big data & artificial intelligence which creates a MOAT and enables them to develop and expand on their partnership with Google, the major player in the online advertising space. The Google relationship is clearly an endorsement of AV1’s product and a natural exit strategy could be a takeover of AV1 by Google – TrafficGuard’s SaaS software has been selected as the only globally certified ad verification vendor on the Google Cloud platform. Reinforcing t...