VSBY:CC - VSBLTY Announces The Assumption Of Winkel Media Field Deployment and Support Contract to Drive Immediate Profitability to the Media Network
(TheNewswire)
PHILADELPHIA, PA. -- TheNewswire-- January 17, 2024 — VSBLTY GroupeTechnologies Corp. (the “Company” or “VSBLTY”) (OTC:VSBGF)(CSE:VSBY) (Fra:5VS), a leading AI software provider of security andretail analytics technology, announced today that it has reached anagreement to acquire the delivery contract for Winkel Media in LATAM.The contract, which was assumed on February 1 st, will becaptured in definitive contract in the next 45 days and includesinstallation, monitoring, as well as other monthly servicingcomponents for the network.
In an effort to expeditiously drive the network toprofitability as the revenues increase the joint venture partners haveagreed to split the services elements among them for greaterefficiency and lower costs. This restructuring of the service elementsensures that Winkel Media becomes immediately EBITDA positive. VSBLTY will assume the balance of the debt obligation for thecontract for a total of approximately $1.5M. The debt will berenegotiated with the willing assistance of the lender but is expectedto be extinguished within 28 months.
CEO Jay Hutton explained “We are hyper focused on driving VSBLTY to profitability this year. This is all about fine tuning thedelivery model and fortifying VSBLTY as a more comprehensive fullsuite provider. VSBLTY has had a team Mexico City for some time andthey will be leveraged to provide additional capabilities. Therestructuring has come about due to the re-allocation of various tasksamong the Joint Venture partners. The deal has a total contract valueof $4.6M in recurring revenue to VSBLTY. The cumulative EBITDA isapproximately $2M over the life of the contract,. In addition, thisdeal fixes operational and infrastructure costs so that further growthof the network can be accomplished without significant incrementalinfrastructure cost. “
On Behalf of the Board of VSBLTYGroupe Technologies Corp.
"Jay Hutton”
CEO & Director
Investor Relations
Harbor Access
Jonathan Paterson, 475-477-9401
Jonathan.Paterson@Harbor-Access.com
Graham Farrell, +1-416-842-9003
Graham.Farrell@Harbor -Access.com
CONTACT: Linda Rosanio,609-472-0877
AboutVSBLTY ( http://vsblty.net/ )
Headquartered in Philadelphia, VSBLTY (OTCQB: VSBGF) (CSE: VSBY)(Frankfurt: 5VS) (OTC: VSBGF) (“VSBLTY”) is the world leader inProactive Digital Display™, which transforms retail and publicspaces as well as place-based media networks with SaaS-based audiencemeasurement and security software that uses artificial intelligenceand machine learning. Its proprietary technology effectivelyintegrates with other digital retail solutions, including QR codes andmobile applications. The firm is also recognized for its leadershiprole in the growing Store as a Medium movement that enables brands toreach customers when and where buying decisions are being made whileproducing a new revenue stream for retailers. In-store retailmedia networks are foundational to VSBLTY’s “Store as a Medium”model and include a collection of digital channels including in-storeinteractive digital displays (strategically placed throughout thestore), integrating loyalty apps, websites, etc. VSBLTYsoftware enables these networks to deliver brands and retailers“first of its kind” computer driven data analytics about theircustomers.
About Winkel Media (http://Winkel-Media.com)
Winkel Media is an in-store media technology companythat is a joint venture of VSBLTY, its Latin American partnerRetailigent Media and Anheuser-Busch InBev. The technology companydeveloped the first retail DOOH network in Latin America. Winkel hasthe most advanced facial detection technology on the market,integrating machine learning through cameras and digital displays toanonymously determine demographics of customers visiting the store,including age and gender, and how long they view advertising. The firmalso generates data dashboard reports with custom KPI’s that deliverunique insights to strengthen the commercial strategy ofbrands.
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