EDMONTON, Alta., April 14, 2022 (GLOBE NEWSWIRE) — Visionstate Corp. (TSXV:VIS) (“Visionstate” or the “Company”) is pleased to provide the following update on the growth of its Internet of Things (IoT) application which is rapidly gaining traction in the facilities management industry under the WANDA brand name ™.
WANDA™ has quickly become an important tool in the fight against COVID-19 and other illnesses as the sixth wave of the virus continues to create health challenges across Canada and beyond. WANDA™ is a mobile app, incorporating QR code functionality, that tracks cleaning and maintenance activities and measures these activities against new, stricter protocols.
“We are very pleased with the growth of Visionstate IoT Inc.,” said John Putters, CEO of the company. “WANDA™ is quickly becoming the primary tool for businesses, municipalities and governments to ensure cleaning protocols are followed to reduce the impact of COVID-19.”
The Company provides the following updates on the global deployment of WANDA™:
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The Company has entered into two significant pilot projects with Business Service Contractors (BSCs) to test the performance of the WANDA™ mobile application. The successful conclusion of the pilots will drive new deployments into BSC portfolios and represent new business partners.
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The company deployed additional WANDA™ tablets in Class A office towers in Florida at an existing customer. The continued expansion of WANDA™ across the client’s real estate portfolio demonstrates the value of the technology as it continues to be an integral part of cleaning protocols.
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WANDA™’s sales pipeline continues to grow and includes senior living facilities, municipalities, school divisions, universities, and office towers, to name a few. Opportunities continue to be driven by Visionstate’s global partner, which is a leader in the cleaning and hygiene industry.
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The Company has partnered with a provider of managed phone solutions to provide rugged phones to customers who do not currently provide handsets to their employees. The managed solution provides the ability to control the use of phones so that they are used only for WANDA™ purposes.
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Visionstate begins development of RFID technology to track the location of high-value assets in hospitals and to track the cleaning of those assets after each use. Asset tracking and the cleaning protocols that accompany those assets continue to be a challenge for hospitals in particular. The RFID application will also be sold on a software-as-a-service model.
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Visionstate has launched a new website to better reflect the new features, 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 various industrial sectors including hospitals, airports, shopping malls, community recreation facilities, schools and universities, aged 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 mobile app activation and measures success based on customer acquisition rate, which is a standard performance metric for technology companies based on the Software as Model. a Service (SaaS). Customer acquisition increases residual income over the 36 month term of each contract and generates 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 technologies in the areas of Internet of Things, big data and analytics, and sustainability. Through Visionstate Inc., it helps businesses improve operational efficiency, reduce costs, and increase customer satisfaction with its industry-leading devices that track and monitor customer activities and requests. The footprint of its WANDA™ smart device now extends to hospitals, airports, shopping malls and other public facilities across and beyond North America. By building a set 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.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward-looking statements
Certain information contained herein 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, but not limited to, statements regarding future financial condition, business strategy, product use, corporate vision, proposed acquisitions, partnerships, joint ventures and strategic alliances and cooperations, budgets, costs and plans and objectives of or involving the Company. This 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 planned”, “budget”, “expected”, “estimates”, “forecasts”. “, “predicts”, “intends”, “targets”, “aims”, “anticipates” or “believes” or variations (including negative variations) of these words and phrases or may be identified by statements that certain actions “may”, “could”, “should”, “would”, “might” or “will” be taken, occur or be performed. A number of known and unknown risks, uncertainties and other factors could cause actual results or performance to differ materially 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, some of which are beyond the control of the Company, including, but not limited to, the impact of general economic conditions, industry conditions and dependence on approvals. regulations. Readers are cautioned that the assumptions used in the preparation of this information, while believed to be reasonable at the time of preparation, may prove to be imprecise and, accordingly, undue reliance should not be placed on any forward-looking statements. The Company undertakes no 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.
