(TheNewswire)
June 6, 2024 – TheNewswire- Toronto,Canada – SPARC AI INC. (CSE: SPAI) (OTC: EGTTF) (“SPAI” or the“Company”) is pleased to announce it is developing a newasset tracking device for monitoring high valued assets.
The small devicewill house the SPARC AI microchip and provide geospatial awareness andlocation tracking without GPS, Bluetooth or camera. The device is tobe designed with intermittent recording of location, to run on lowpower and remain covert. The SPARC AI data recordings could be sharedon scheduled time frames via P rivate, Public andMilitary communication networks. The data could also be sent to SPARCAI enabled drones to form a ground to air geospatial network.Management is also planning a series of water tests to see if SPARC AIworks in the ocean without GPS or sonar.
Existingconsumer and commercial geotagging technologies are limited to GPS andBluetooth. The SPARC AI enabled geotagging device could track anyasset it is attached to, including D efence inventory andmachinery.
The Company hascompleted extensive ground level testing that has provided confidenceto M anagement to pursue a suite of innovative geospatial products for C ommercial and M ilitary applications. SPARC AI has also been successfully integratedonto two different microchip brands.
The Company hasstarted reviewing partners to fast track the development of the assettracking device with appropriate Ingress Protection rating to workunderwater and in dusty conditions.
About SPARC AI
SPARC AI has developed and patented the S patial P redictive A pproximation and R adial C onvolution. This includes proprietaryalgorithms that uses proven mathematics to calculate the location ofdistant objects without using Satellite, GPS or the Internet. SPARC AIis developing a range of geospatial products using its core IP and isalso integrating these into a microchip to allow customers to activateSPARC AI on any of their camera device, including drones.
For more information contact:
Website: https://www.sparcai.co
Investor Presentation: Click Here
Anoosh Manzoori, CEO SPARC AI INC. Email: anoosh@sparcai.net Phone: +61.3.9666338 |
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FORWARD LOOKING INFORMATION
This news release contains forward-looking statementsand forward-looking information within the meaning of applicablesecurities laws. These statements relate to future events or futureperformance. All statements other than statements of historical factmay be forward-looking statements or information.
The Company provides forward-looking statements for thepurpose of conveying information about current expectations and plansrelating to the future and readers are cautioned that such statementsmay not be appropriate for other purposes. By its nature, thisinformation is subject to inherent risks and uncertainties that may begeneral or specific and which give rise to the possibility thatexpectations, forecasts, predictions, projections or conclusions willnot prove to be accurate, that assumptions may not be correct and thatobjectives, strategic goals and priorities will not be achieved. Theserisks and uncertainties include but are not limited those identifiedand reported in the Company’s public filings under the Company’sSEDAR profile at www.sedar.com. Although the Company has attempted toidentify important factors that could cause actual actions, events orresults to differ materially from those described in forward-lookinginformation, there may be other factors that cause actions, events orresults not to be as anticipated, estimated or intended. There can beno assurance that such information will prove to be accurate as actualresults and future events could differ materially from thoseanticipated in such statements. The Company disclaims any intention orobligation to update or revise any forward-looking information,whether as a result of new information, future events or otherwiseunless required by law.
Accordingly, readers should not place undue reliance onthe forward-looking statements, timelines and information contained inthis news release. Readers are cautioned that the foregoing list offactors, assumptions and exclusions is not exhaustive.
The forward-looking statements and informationcontained in this news release are made as of the date hereof and noundertaking is given to update publicly or revise any forward-lookingstatements or information, whether as a result of new information,future events or otherwise, unless so required by applicablesecurities laws or the Canadian Securities Exchange. Theforward-looking statements or information contained in this newsrelease are expressly qualified by this cautionary statement.
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