Visionstate Provides Business Update
Edmonton, Alberta, November 4, 2021 - Visionstate Corp. (TSX-V: VIS) (“Visionstate” or the “Company”) is pleased to provide an update on its business activities, sales, and new technology development. The Company continues to grow with its IoT WANDA™ product as a result of new cleaning protocols required to address the spread of COVID-19.
The interest in WANDA™ has grown substantially in the last three months, with a sales pipeline larger than ever in the history of the company. The rise in interest coincides with facilities opening to the public with Visionstate customers being diligent in their cleaning practices to ensure a safe environment. WANDA™, which tracks cleaning activities and provides detailed analytics on key performance indicators, is an essential part of the fight to control COVID-19 and other diseases, by ensuring new protocols are being met.
Visionstate is set to roll out WANDA™ tablets, IoT buttons and its WandaMOBILE product to diverse locations, including hospitals located in Europe, a large Canadian zoo, a Canadian provincial museum, four new shopping-centre locations and expansion of an existing installation with one of the largest private-equity companies in the world. The expansion includes a Class A office tower in Miami, Florida.
Existing clients are also adopting WandaMOBILE coupled with QR codes. The use of QR codes provides the opportunity to track any area or zone within a facility. The codes can be used by cleaning staff to log their presence at a location and use the app to record cleaning activities, supplies and address any existing alerts from customers. These customers can scan the QR code to provide feedback or alerts for areas that require immediate attention.
WandaMOBILE is particularly popular because of the quick deployment time and the QR code feature. Visionstate has an upcoming pilot project with a large Canadian municipality to use WandaMOBILE to track cleaning and alerts in diverse locations, including garbage receptacles on public property. Current customers of WandaMOBILE are also implementing QR codes, including a Canadian international airport, since the use of touchscreens in public settings are decreasing because of COVID-19 and the potential to spread disease.
Visionstate’s business model is based on software as a service (SaaS), with contracts typically on a three-year term. Since the Company only reports quarterly results, success of SaaS models is measured by the rate of customer acquisition. To further increase the rate of customer acquisition, Visionstate is also investing in added sales staff to augment the sales and marketing efforts through its existing global partner. These resources will be in place in the month of November 2021. Visionstate recently added a business strategist to its team, and the results of the on-going analysis of the Company’s performance will provide guidance on the sales strategy.
Visionstate also continues to invest in new features for its WANDA™ product, particularly the mobile app. New auditing features, automatic supply replenishment, and key analytical insights are currently being developed and will be deployed by the end of the calendar year.
The Company is also ramping up its development of artificial intelligence (AI) applications for retail and public locations. Visionstate, which disrupted the static directory market in 2005 with its interactive ViCCi (“Vicky”) product, is re-purposing its core technology, which includes interactive wayfinding, and integrating it with state-of-the-art AI technology. The potential applications are wide ranging and address key challenges with conventional customer service, including the cost of delivering the service, the shortage of customer-relations workers, and the growing dependence on analytics to better understand the customer journey.
Meanwhile, Visionstate’s portfolio company, Exceed Solar, is gearing up for an educational webinar scheduled for 4:00 pm EST on Thursday, November 4, 2021. Exceed Solar is a company dedicated to disrupting the construction industry by using sustainable building materials in combination with technology and renewable energy. Exceed Solar’s objective is similar to the evolution of the electric vehicle and the transition away from fossil-fuel powered cars. To register for the event please follow the link below:
About Visionstate Corp.
Visionstate Corp. (TSX-V: VIS) is a growth-oriented company that invests in the research and development of promising new technology in the realm of the Internet of Things, big data and analytics, and sustainability. Through Visionstate Inc., it helps businesses improve operational efficiencies, reduce costs and elevate customer satisfaction with its state-of-the-art devices that track and monitor guest activities and requests. The footprint of its WANDA™ smart device now extends to hospitals, airports, shopping centres and other public facilities across and beyond North America. Through building up a collection of synergistic technologies, Visionstate Corp. will continue to innovate, reduce environmental impact and transform consumer experiences. Visit the website to learn more: https://www.visionstate.com/
Issued on behalf of the Board of Directors,
“John A. Putters”
Visionstate Corp.
To learn more, please contact:
Visionstate Corp.
John Putters, CEO
jputters@visionstate.com
Tel: 780-425-9460
CHF Capital Markets
Perry Rapagna, Manager, Corporate Development
perry@chfir.com
Tel: 416-868-1079 x230
CAUTIONARY STATEMENT
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this press release.
Forward-Looking Statements
Certain information set forth in this material may contain forward-looking statements that involve substantial known and unknown risks and uncertainties. All statements other than statements of historical fact are forward-looking statements, including, without limitation, statements regarding future financial position, business strategy, use of proceeds, corporate vision, proposed acquisitions, partnerships, joint-ventures and strategic alliances and co-operations, budgets, cost and plans and objectives of or involving the Company. Such forward-looking information reflects management's current beliefs and is based on information currently available to management. Often, but not always, forward-looking statements can be identified by the use of words such as "plans", "expects", "is expected", "budget", "scheduled", "estimates", "forecasts", "predicts", "intends", "targets", "aims", "anticipates" or "believes" or variations (including negative variations) of such words and phrases or may be identified by statements to the effect that certain actions "may", "could", "should", "would", "might" or "will" be taken, occur or be achieved. A number of known and unknown risks, uncertainties and other factors may cause the actual results or performance to materially differ from any future results or performance expressed or implied by the forward-looking information. These forward-looking statements are subject to numerous risks and uncertainties, certain of which are beyond the control of the Company including, but not limited to, the impact of general economic conditions, industry conditions and dependence upon regulatory approvals. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements. The Company does not assume any obligation to update or revise its forward-looking statements, whether as a result of new information, future events, or otherwise, except as required by securities laws.
