Visionstate's IOT Software Solution for Facilities Goes Global; Adoption Accelerating due to COVID-19 Sixth Wave
EDMONTON, Alberta, April 14, 2022 - Visionstate Corp. (TSX VENTURE: VIS) (“Visionstate” or the “Company”) is pleased to provide the following update on the growth of its Internet of Things (IoT) application which is quickly gaining traction in the facility management sector under the branded name, WANDA™.
WANDA™ has quickly become an important tool in the fight against COVID-19 and other diseases as the sixth wave of the virus continues to create health concerns across Canada and beyond. WANDA™ is a mobile application, incorporating QR code functionality, that tracks cleaning and maintenance activities and measures those activities against new and more stringent protocols.
“We are very pleased with the growth of Visionstate IoT Inc.,” said Company CEO John Putters. “WANDA™ is quickly becoming the primary tool for businesses, municipalities, and governments to ensure cleaning protocols are met in order to reduce the impact of COVID-19.”
The Company provides the following updates on the global rollout of WANDA™:
The Company has entered into two significant pilot projects with Business Services Contractors (BSC) to test the performance of the WANDA™ mobile app. The successful conclusion of the pilot projects will result in further deployments throughout the portfolios of the BSCs and represents new selling partners.
The Company has deployed additional WANDA™ tablets to Class A office towers in Florida to an existing customer. The continued expansion of WANDA™ through the customer’s real estate portfolio demonstrates the value of the technology as it continues to become an integral part of the cleaning protocols.
The sales pipeline for WANDA™ continues to grow and includes seniors’ facilities, municipalities, school divisions, universities, and office towers, to name a few. The opportunities continue to be driven by Visionstate’s global partner which is a leader in the cleaning and hygiene business.
The Company has partnered with a managed phone solution provider to supply rugged phones to customers who do not currently provide employees with handsets. The managed solution provides the ability to control the use of the phones so that they are used for the purposes of WANDA™ only.
Visionstate is commencing the development of RFID technology to track the location of high-value assets in hospitals and to track the cleaning of these assets after each use. Tracking assets and the cleaning protocols that accompany these assets continue to be a challenge for hospitals in particular. The RFID application will also be sold on a software as a service model.
Visionstate launched a new website to better reflect the new functionality, features, and benefits of the WANDA™ product. The website can be viewed at www.visionstate.com.
About WANDA™
Designed to track cleaning and maintenance activities, the mobile version of WANDA™ has unlimited scalability and is applicable to diverse industry sectors, including hospitals, airports, shopping centres, community recreational facilities, schools and universities, senior’s care facilities and even large municipalities. The mobile app is also quick to deploy and is based on a subscription model to eliminate upfront costs.
Visionstate charges a monthly or annual subscription fee for each activation of the mobile application and measures success based on the rate of customer acquisition, which is a standard measure of performance for technology companies that are based on the Software as a Service (SaaS) model. Customer acquisition increases residual income over the 36-month term of each contract and carries a high margin on sales.
About Visionstate Corp.
Visionstate Corp. (TSXV: 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.
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.
