(TheNewswire)
Edmonton, Alberta – TheNewswire - April 5, 2024 – Visionstate Corp.(TSXV:VIS) (“Visionstate” or the“Company”), a leading provider of innovative facility managementsolutions, is pleased to provide a comprehensive business updatehighlighting recent achievements and strategic initiatives.
WANDA™ Updates
BC Campus: Visionstate is thrilled to announce that its recent installation in alarge BC university campus is expanding to its satellite campuses,marking a significant milestone in our evolution. This expansion opensnew avenues for collaboration and growth, underscoring our commitmentto supporting educational institutions in optimizing their facilitymanagement processes.
National CleaningCompany: Visionstate is delighted to confirm ourinaugural installation with a national cleaning company. Thisinstallation sets the stage for future expansion within the cleaningsector, demonstrating the value and effectiveness of our solutions inenhancing operational efficiency and customer satisfaction.
Growth in the CasinoSector: Visionstate is witnessing promisinggrowth opportunities in the casino industry for its WANDA™ product.As with any facility, tracking cleaning protocols to ensure efficiencyis paramount. In casinos, WANDA™ can not only ensure cleanliness andresponsiveness to cleaning alerts, but also receive feedback from thepublic simply by scanning the WANDA™ QR code. With plans to expandour current largest casino partner and install in a new casino nextmonth, we are strategically positioned to capitalize on the evolvingneeds of this dynamic sector. This will set the stage for theCompany’s attendance at a large facility management conference inLas Vegas in the fourth quarter of 2024.
Expansion with National BuildingServices Contractor (BSC) : Including campusesoutside of BC, our partnership with a national BSC is expanding beyondBC campuses, showcasing the scalability and effectiveness of oursolutions in diverse educational settings. This expansion underscoresour commitment to delivering tailored facility-management solutionsthat drive operational excellence.
Upcoming Installation at LargeVitamins and Supplements Manufacturer: Visionstate is gearing up for an installation at a natural remedycompany in April, further diversifying our client portfolio andextending our reach into new markets. This installation reflects thediverse applications for WANDA as we deliver cutting-edge solutionsthat meet the unique needs of our clients.
Installation at BC InteriorMall: Our upcoming installation at a BC InteriorMall highlights our continued success in the retail sector. Byproviding tailored solutions that address the specific challengesfaced by retail environments, Visionstate is empowering businesses tooptimize their operations and enhance customer experiences.
U.S. market Expansion: Visionstate is pleased to report progress in expanding intothe U.S. market. With multiple businesses in the sales funnel atvarious stages, we are encouraged by the strong interest and potentialgrowth opportunities across the border. The Company seeks to buildthat market based on the success of large installations in New Yorkand Miami for a global private-equity real estate firm.
Technology Developments
Aggressive Development ofInspection/Auditing Functionality : Developmentof our inspection and auditing functionality remains a top priority.By expanding these capabilities, we aim to better serve our clients'evolving needs and deliver enhanced value through actionable insightsand streamlined processes.
Exploring New Business Categories forWANDA™ : Visionstate is actively exploring newbusiness categories where our flagship solution, WANDA™, can addvalue. WANDA™ is a facility management tool designed to trackcleaning protocols and measure efficiency in delivering frontlinecleaning services. WANDA™ analytics provides a valuable tool forfacility managers to understand how effectively they are deliveringservices to their clients. It is a subscription-based technology thatincorporates a mobile app and WANDA™ tablets.
Developing AI Use Cases : We are enhancing our AI capabilities to maximize ourcustomers' access to actionable insights and digestible information.Through the development of AI use cases, we empower our clients tomake informed decisions that drive operational efficiency and businesssuccess.
ToF People Counters: Visionstate’s innovative Time of Flight, battery-operated,people counting sensors continue to demonstrate value. Since December2023, the Company has deployed 35 sensors and has orders for anadditional 50 sensors during the next two months. People countersprovide valuable insights into cleaning and operational efficiencies.The Company anticipates accelerating deployment as it commoditizesproduction and distribution.
ViCCi 2.0 AI-Powered CustomerService: Visionstate is nearing completion ofits new conversational AI application for customer service in physicalenvironments. Developed in partnership with Fluido.ai, ViCCi 2.0relies on AI to provide a wealth of information about the facility andits services, as well as wayfinding to multiple locations. Thetechnology includes proximity sensors that detect a customer’spresence, welcomes them to the facility, and offers whateverassistance is required. The new ViCCi 2.0 product adds a new revenuestream to Visionstate. The Company intends to market ViCCi 2.0initially through existing WANDA™ customers which include hospitals,shopping centres, Class A buildings, universities, and casinos to namea few. ViCCi 2.0 is able to speak any language.
Business Development
Expanding Global Presence in theUK: Visionstate is excited to meet withrepresentatives from our global partner who will be visiting ouroffices to discuss expansion into this large, new market. The globalpartnership is strengthening WANDA™'s presence and expanding ourreach into international markets.
Confirmed Presence at Interior BCTrade Show: We have confirmed Visionstate'spresence at a key trade show in Interior BC, focusing on the educationsector. This presents an excellent opportunity to showcase oursolutions and network with industry leaders.
Financing: Visionstate is also pleased to provide an update on its currentfinancing. The Company seeks to raise $700,000 to acceleratedevelopment and marketing of the WANDA™ product. Visionstate has sofar raised approximately $500,000 and seeks to close the entireoffering within the next 30 days.
"We are excited about the progress andachievements outlined in this business update," said ShannonMoore, President of Visionstate IoT Inc. "As we continue toexpand our reach, enhance our capabilities, and drive innovation, weremain committed to delivering unparalleled value to our clients andstakeholders."
For more information about Visionstate Corp. and itsinnovative facility management solutions, please visitwww.visionstate.com
Issued on behalf of the Board of Directors,
“John A. Putters”
Visionstate Corp.
To learn more, please contact:
Visionstate IoT Inc.
Shannon Moore, President
Email: shannon@visionstate.com
Tel: 780-425-9460
CHF Capital Markets
Kathy Chapman
Email: kc@chfir.com
Tel: 416-868-1079 x 234
Twitter:
Facebook:
LinkedIn:
Neither the TSX Venture Exchange nor its RegulationServices Provider (as that term is defined in the policies of the TSXVenture Exchange) accepts responsibility for the adequacy or accuracyof this release.
Forward-Looking Statements
Certain information set forth in this material maycontain forward-looking statements that involve substantial known andunknown risks and uncertainties. All statements other than statementsof historical fact are forward-looking statements, including, withoutlimitation, statements regarding future financial position, businessstrategy, use of proceeds, corporate vision, proposed acquisitions,partnerships, joint-ventures and strategic alliances andco-operations, budgets, cost and plans and objectives of or involvingthe Company. Such forward-looking information reflects management'scurrent beliefs and is based on information currently available tomanagement. Often, but not always, forward-looking statements can beidentified by the use of words such as "plans","expects", "is expected", "budget","scheduled", "estimates", "forecasts","predicts", "intends", "targets","aims", "anticipates" or "believes" orvariations (including negative variations) of such words and phrasesor 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 orperformance to materially differ from any future results orperformance expressed or implied by the forward-looking information.These forward-looking statements are subject to numerous risks anduncertainties, certain of which are beyond the control of the Companyincluding, but not limited to, the impact of general economicconditions, industry conditions and dependence upon regulatoryapprovals. Readers are cautioned that the assumptions used in thepreparation of such information, although considered reasonable at thetime of preparation, may prove to be imprecise and, as such, unduereliance should not be placed on forward-looking statements. TheCompany does not assume any obligation to update or revise itsforward-looking statements, whether as a resultof new information, future events, or otherwise, except as required bysecurities laws.
Copyright (c) 2024 TheNewswire - All rights reserved.