Visionstate Corp. Announces Board Changes
EDMONTON, ALBERTA – Visionstate™ Corp. (TSX VENTURE:VIS) Visionstate (or “the Company”) today announced that Perry Kinkaide has resigned from the Company's Board of Directors, effective immediately. The Company thanks Mr. Kinkaide for his service for the past few years.
John Putters, President of Visionstate, stated “On behalf of the Board and the company, I thank Perry for the contributions he has made during his tenure and wish him continued success in the future.”
The Company also announced that Mr. Kevin Gilbank has joined its Board of Directors. He has over 15 years of oil and gas and infrastructure experience with a specialization in operations, project management, clean energy project development, and team leadership. Kevin has held increasingly senior roles within Shell Canada and has been pivotal in the growth of TERIC Power. Kevin holds a professional engineering designation as well as a Biomechanical Engineering Masters of Applied Science from the University of Ottawa, a Bachelor of Mechanical Engineering Degree (Honours) through the University of Dundee in the United Kingdom and a Mechanical Engineering Technology Diploma from Durham College.
Visionstate Corp. Announces Enhancements to WANDA Smart Device
EDMONTON, ALBERTA – Visionstate™ Corp. (TSX VENTURE:VIS) Visionstate (or “the Company”) is pleased to announce that exciting new enhancements have been added to its WANDA™ IoT smart touchscreen solution, an industrial-grade smart tablet that tracks cleaning, maintenance and supply utilization in high-traffic facilities including hospitals, airports, malls and office buildings.
WANDA is elevating customer service at these facilities by providing real time, actionable data that empowers facility managers to identify and solve problems before they become complaints.
These enhancements have been completed and are currently being rolled out to current customers:
Addition of French language and bi-lingual display options.
Traffic counters, using optical sensors that communicate with the WANDA unit and track customer traffic in and out of washrooms.
Additional API support, enabling automated export of data and easier integration with other software suites.
The traffic counter upgrade provides facility managers with robust metrics to help them understand peak traffic times and enable them to adjust scheduling and staffing for maximum efficiency. The API support enhancement clears the way for WANDA to exchange data with customers’ existing systems, making it easy for customers to obtain needed data.
As software enhancements are made, they are automatically distributed to units everywhere across existing wi-fi connections. The new language option will automatically display in the WANDA dashboard, making it easy and seamless for facility managers and staff to access and activate these new enhancements for their customers. The WANDA development team has also announced their next planned enhancement: digital monitoring of inventory levels for supplies including paper towels, toilet paper and hand soap. Remote generic sensors will monitor usage of washroom supplies and provide notification when these items need to be replenished. Once development is complete, this enhancement will allow facility staff to monitor and track inventory remotely and ensure that facilities are replenished before inventory is depleted. Development will be completed later this year.
In Spring 2018, Visionstate’s WANDA technology was on display in London at the Cleaning & Support Services (CSSA) Innovation Showcase, where it beat out some of the cleaning industry’s most advanced products to win the top prize, the 2018 Innovation Award.
To learn more about WANDA IoT Smart Touchscreen technology, visit our website at www.visionstate.com.
Visionstate Corp. Releases Letter From the President
EDMONTON, Alberta, May 02, 2018 (GLOBE NEWSWIRE) -- Visionstate™ Corp. (TSX VENTURE:VIS) Visionstate (or “the Company”) is pleased to share this message from John Putters.
Dear Fellow Stockholders,
Over the past year we have witnessed dramatic growth in the adoption of new technologies in the realm of the Internet of Things (IoT). This technology is being used to facilitate safety and security, optimize building maintenance and energy usage, and is improving efficiencies all around us. It is a powerful tool that is even further amplified when paired with real-time analytics and other technologies. Visionstate is on the leading edge of this emerging technology. With expertise in IoT, AI and sustainable building technology, Visionstate is developing disruptive new products for commercial markets that are just starting to understand the business application potential for these technologies. I am excited for what the future holds!
Sales Strategy
WANDA, our IoT next generation solution device for monitoring common areas, is providing value to customers in diverse locations including airports, hospitals, shopping centers and schools. We had been limited by our sales capacity and eager to greatly expand our sales reach. This was accomplished by aligning with a multinational company that specializes in the distribution of cleaning and supplies products, Bunzl. This agreement has given Visionstate a global sales, marketing and distribution reach for WANDA and expands our sales reach even beyond North America.
Together with Bunzl significant resources have been devoted to developing training and sales materials, culminating in live training sessions earlier this year that involved every member of the Bunzl Canada sales team. This front-line team was extremely excited about WANDA and the value it could bring to many of their existing customers. As efforts are ramped up to train our partner’s sales staff in Europe and Australia, these regions will be putting into place the infrastructure to sell and distribute WANDA as well. We anticipate accelerated sales growth as these regions complete their training and fully execute on product sales.
If you haven’t heard, our WANDA technology was awarded the top innovation award by the UK’s Cleaning & Support Services Association (CSSA)! This is a huge positive for Visionstate, as WANDA beat out other top global companies in this cleaning industry showcase event. Because of this, WANDA’s visibility in the marketplace has grown and our sales team has gained a tremendous tool that will help them in selling this product.
In addition, the Visionstate team is currently executing on several new pilot projects in the US, including some of the largest healthcare jurisdictions in the country. Other pilot projects that are underway include school districts and airports in the US. These projects demonstrate a growing interest by building operators, as they understand the return on investment offered by IoT solutions such as WANDA. These projects have the potential to generate orders for hundreds of WANDA devices within the next 6-12 months.
Our Investment Strategy
Looking to the future, our board of directors created a subcommittee specifically to address investment strategies for Visionstate Inc. Based on their recommendations, the board has asked that the primary focus be on leveraging recent acquisitions to make significant enhancements to WANDA and CINDI, so that the latter can be brought to market as quickly as possible. An important part of this strategy will be leveraging the capabilities of Chatbot Incubators, by integrating their AI capabilities into our CINDI product. This strategy will serve to diversify Visionstate’s revenue streams and consolidate our position as a leader in IoT applications.
In addition, our board recommends moving forward with a smaller development investment in Exceed Solar, as it is ready to go to market. Sustainable technology is an area that I am excited about and this latest addition to Visionstate Corp. will provide an excellent gateway to enter into the residential smart home market with its intelligent sensors. This investment will take the form of a convertible debenture secured against Exceed Solar assets, to protect Visionstate Corp. shareholders.
Also, recently discussed by the board is the high risk and volatility of cryptocurrency. The board has determined that the risk and uncertainty in this technology is too high and direct benefits back to Visionstate and its products not clear. In addition, the high amount of power consumption goes against our company’s value and goal of sustainable technology. Therefore, the board is recommending against further investment in this technology.
With this direction from our board, we will remain laser focused on improving Visionstate’s core solutions and increasing market awareness and revenues across global markets for these products. Our recent capital raise provides the capacity to continue expanding functions for core products to execute on these board directives.
Product Innovation
Ongoing improvement and innovation to our core product is clearly a priority and WANDA will continue to be enhanced. A new people counter functionality was recently introduced and multi-language options are being rolled out to customers this week. Currently in beta testing phase are cleaning product monitoring sensors that measure and communicate supply levels in real time, as well as enhanced cellular connectivity with 4G technology.
The next phase of product development has begun for CINDI, which includes integrating chatbot technology into a digital concierge function that adds a new and exciting aspect to this product. With a focus on mobile functions and artificial intelligence (AI), the new and improved CINDI product will target the hospitality industry and be ready for market in the second half of this year.
Exceed Solar is on pace to unveil a beta version of the customizable, solar-powered “Sol Spaces” module next month. We anticipate much buzz for this revolutionary yet affordable product with a trial-living program that will debut this summer in an area just outside of Fairmont BC.
I imagine other possibilities across our Visionstate Corp. technologies, such as potentially integrating WANDA technology into Sol Space modules, to take advantage of synergies between sustainable housing and monitoring residential power usage.
Executive Team Additions
I’m excited to have excellent new additions to our team, adding key highly experienced associates that will be instrumental to Visionstate’s long-term success and growth:
Debra Williams, EVP in charge of Visionstate’s Global Strategy and Business Development, has been building out plans and working to expand our global sales and distribution, and is actively working on developing key strategic partnerships. Since starting with us, she has been instrumental in landing several new accounts and is working closely with institutional customers and pilot projects to expand our business in the U.S.
Christine Beuchert was brought on recently as Director of Marketing and Communications to lead Visionstate’s marketing efforts and improve sales materials. She has improved the frequency and quality of our communications with investors and is working on new initiatives that will buttress sales efforts, including a new Visionstate sales video that will explain our WANDA product, including enhanced functions, in multiple languages. She has also been given the mission of updating our branding and website and will be developing a new pitch deck and related sales materials.
Conclusion
Our goal is to build shareholder value by increasing revenues from WANDA while establishing a base of new core technologies that will diversify revenue streams and broaden our portfolio. We will stay growth-oriented and pioneer through utilization of new technologies.
Thanks to you our shareholders for supporting us on this mission of making the world a better place through disruptive and sustainable innovation!
Sincerely,
John
John Putters
President and Chief Executive Officer
Visionstate Corp.
Visionstate Corp. Appoints Debra Williams to Board of Directors
EDMONTON, ALBERTA – Visionstate™ Corp. (TSX VENTURE:VIS) Visionstate (or “the Company”) is pleased to announce the appointment of Debra Williams to the Board of Directors.
Debra is an accomplished Senior Executive and Digital Transformation Strategist with more than 30 years of success in the information technology industry. She brings with her a unique global perspective and will provide Visionstate with valuable thought leadership and credibility as we consider strategic acquisitions and bring new disruptive and sustainable products to market.
Debra founded SeaBlue Inc. in 2006, a strategic consulting firm that provides diverse industry thought leadership creating and executing complex value driven digital transformational strategies incorporating technology such as business intelligence, big data insights, predictive analytics, IoT, AI and cognitive technologies.
Known and respected for her thought leadership, high integrity, credibility and transparent approach she sits on Strategic Advisory Boards, including GlanceCSE:GET and Visionstate Corp CVE:VIS.
Debra has held strategic executive level roles at IBM, MicroStrategy, Teradata, Rogers Communications and Bell Canada. During her tenure at IBM, she led the organization’s national Business Analytics strategy practice, followed by heading up the Industry Strategy practice for the Media, Entertainment and Communication sector for North America. In those roles she created a new customer engagement model that tied together go-to market teams with IBM’s global diverse business units and products, providing valuable new data-driven solutions and value-driven outcomes. She was able to turn this into a set of relevant next generation industry solutions including strategy and execution services that drove a significant net new revenue stream for IBM.
As an Ambassador for Woman of Influence, she advocates for advancing opportunities for women in technology. She has given back to the global community through continued volunteer work it marginalized countries, building homes, an education and recreational facility and teaching sustainable skills to provide the education needed to prosper independently while supporting families and communities.
Visionstate Announces Final TSXV Acceptance for Private Placement
EDMONTON, ALBERTA – Visionstate™ Corp. (TSX VENTURE: VIS) ("Visionstate" or the "Company") is pleased to announce that further to its announcement on February 22, 2018, Visionstate has received final acceptance from the TSX Venture Exchange of the non-brokered private placement financing (“Private Placement”) of 7,000,000 units (“Units”) at a price of $0.05 per Unit for gross proceeds of $350,000. Each Unit is comprised of one (1) common share in the capital of the Company (“Common Share”) and one (1) Common Share purchase warrant (“Warrant”). Each Warrant entitles the holder to purchase one (1) additional Common Share at a price of $0.075 per Common Share for a period of two (2) years following the date of closing (the “Term”). In the event the Common Shares close at a price of greater than $0.15 per Common Share for a period of greater than twenty (20) consecutive trading days, then the Term of the Warrants shall be automatically accelerated and shortened from two (2) years to thirty (30) calendar days following the date a press release is issued by the Company announcing the reduced Term, and the issuance of the press release shall be deemed to be sufficient notice to all warrant holders of the shortened Term as a result of the acceleration. Visionstate intends to use the proceeds from the Private Placement for acquisitions, technology development and general working capital. The participation in the Private Placement by directors and executive officers of Visionstate may be considered a "related party transaction" (the “Related Party”) as defined under Multilateral Instrument 61-101 ("MI 61-101"). Visionstate has determined that exemptions from the formal valuation and minority shareholder approval requirements under MI 61-101 are available. In particular, Visionstate has determined that the exemptions set out in paragraphs (a) and (b) in section 5.5 of MI 61-101 are applicable since the aggregate consideration to be paid by the Related Party does not exceed 25% of the market capitalization of Visionstate and Visionstate is not listed on the Toronto Stock Exchange, but only on the TSX Venture Exchange. In addition, regarding the minority shareholder approval exemptions, the independent directors have determined that the exemptions set out in paragraphs (1)(a) and (b) in section 5.7 of MI 61-101 are applicable in that the aggregate consideration to be paid by the Related Party does not exceed 25% of the market capitalization of Visionstate, the distribution of the securities to the Related Party has a fair market value of not more than $2,500,000 and Visionstate is not listed on the Toronto Stock Exchange, but only on the TSX Venture Exchange. The securities issued under the Private Placement are subject to a four-month hold period from the time of closing of the Private Placement.
Visionstate Corp. Product Wins CSSA Innovation Award; Prestigious UK Cleaning Industry Award (WANDA)
EDMONTON, ALBERTA – Visionstate™ Corp. (TSX VENTURE:VIS) is pleased to share that it’s WANDA™ IoT smart touchscreen solution for managing public spaces has won a top award for innovation in the cleaning industry. The Visionstate technology beat out some of the cleaning industry’s most advanced technology that were competing for the top prize at the Cleaning & Support Services Association (CSSA) Innovation Showcase, an event celebrating the industry’s most innovative products, services and initiatives.
Prior to the Innovation Showcase event, top companies from across the UK presented their most innovative cleaning solutions to a “Dragons Den” panel of experts, vying to be part of the Innovation Showcase. The judging format gave each company 25 minutes to convince the experts from CSSA and CHSA (Cleaning & Hygiene Suppliers Association) that they had the most innovative product.
Eight companies were selected to proceed to the final award round, including Bunzl, Rubbermaid, Unger, Ice, DorsaVi and others. Judging took place at the CSSA Innovation event on March 15, 2018 in London, England, where 140 cleaning industry professionals from 21 companies across the UK gathered.
Ultimately Visionstate’s WANDA technology was recognized with the 2018 Innovation Award. Visionstate’s partner and primary distributor of WANDA, Bunzl, was on hand to accept the award. Charlotte Parr, Account Director at Bunzl, said “WANDA is a very innovative product. It is an interactive washroom tablet that allows us to make informed and educated decisions on our cleaning processes based on real time data and client perception.”
The CSSA is dedicated to driving innovation in the cleaning industry and is the only organization that singularly represents the UK contract cleaning industry. The next CSSA Innovation Showcase is expected to take place in 2020.
Visionstate Corp. Announces Hiring of Director of Marketing and Communications
EDMONTON, Alberta, March 26, 2018 (GLOBE NEWSWIRE) -- Visionstate Corp. (TSX VENTURE:VIS) is pleased to announce the addition of Christine Beuchert to its executive team, in the newly created position of Director of Marketing and Communications.
Christine brings a wealth of communications, strategic planning, digital marketing and brand development expertise to the Visionstate team. Prior to this, she had budget responsibility overseeing advertising, marketing strategy and corporate communications as Senior Director of Marketing at Marcus Hotels. Her expertise in digital development and transformation for the hospitality industry will be a valuable asset as our hospitality targeted CINDI solution with integrated artificial intelligence becomes market ready.
Her experience includes developing corporate marketing strategies and launch campaigns for new products and solutions, cultivating strategic partnerships, and leading successful product development initiatives. Christine has managed corporate media relations and PR, which will be valuable in gaining media and industry attention focused on Visionstate’s solutions.
“As the organization grows rapidly in size and scope, we require senior marketing expertise to tell our brand story and market our solutions globally,” explained John Putters, CEO of Visionstate Corp. “Christine’s background and extensive industry expertise will be invaluable to us in developing and launching new solutions and generating overall awareness of Visionstate.”
The appointment reflects the growing need for clear and comprehensive marketing and communication strategies that will generate industry awareness and support sales efforts and partnerships as Visionstate continues to add new solutions, technologies and companies to its portfolio.
Visionstate Corp. Signs Letter of Intent to Invest in Exceed Solar
Visionstate™ Corp. (TSX VENTURE:VIS) Visionstate (or “the Company”) is pleased to announce that it has entered into a letter of intent with Edmonton-based Exceed Solar Inc. (“Exceed Solar”) to acquire 30% of the business in a cash and share transaction (the “Transaction”).
The transaction demonstrates Visionstate’s commitment to expanding and diversifying its technology portfolio. “We are pleased to be partnering with Exceed Solar,” said Visionstate Corp. CEO John Putters. “They are developing new products that have huge potential to transform the economics of residential housing. This investment brings new alternative energy technology and further diversification to our portfolio. I’m also excited for potential synergies in product development with Visionstate Inc.”
Exceed Solar specializes in alternative energy applications and is poised to be a disruptive force in the housing industry. They recently unveiled plans to create modular, prefabricated living spaces that use solar-powered technology and are net-zero energy capable. These modules, called “Sol Spaces”, are customizable, affordable and can be assembled by the owner. Pre-orders are currently available and product roll out is expected later this year. Additional information about Exceed Solar can be found at www.exceedsolar.com.
“We are thrilled that Visionstate Corp. will be investing in our company,” said Exceed Solar Co-Founder and Director of Sales and Marketing, Stanton Pawchuck. “Visionstate management understands our passion for the environment and supports our approach to developing sustainable and affordable housing. Their experience with startups will help us achieve our goal of disrupting the traditional housing industry.”
Visionstate Corp.’s objective is to diversify the Company’s product portfolio by investing in high growth and synergistic opportunities in areas including artificial intelligence, blockchain and sustainability-related technologies.
For instance, Exceed Solar’s modular and bio-friendly units could be enhanced with sensors for measurement of energy generation and usage, thereby leveraging Visionstate’s existing building monitoring technologies.