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    VIS   CA92836B2012

VISIONSTATE CORP.

(VIS)
Delayed Bourse de Toronto  -  01:24:15 2023-01-30 pm EST
0.0200 CAD    0.00%
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Visionstate's WANDA(TM) Expands to Equipment Tracking, Sales Queue Grows to More Than 100 Companies

10/31/2022 | 11:07am EST

(via TheNewswire)

Visionstate Corp.

Edmonton, AlbertaTheNewswire -October 31, 2022Visionstate Corp.(TSXV:VIS)(OTC:VSSSF)(“Visionstate” or the “Company”) is pleased to announce significant growth in the deployment and interest in the Company’sWANDA™technology, an IoT (Internet of Things) application designed to track cleaning and maintenance protocols in public facilities.

 

In the previous quarter, the Company installed its technology in several new locations, including shopping malls, Class “A” office buildings, casinos, and municipalities. The demand forWANDA™is steadily increasing as facility management moves toward digitalization to capture key analytics on its operations.

 

“Ever since the COVID lockdowns ended we have seen a dramatic rise in interest for theWANDA™platform,” explained Shannon Moore, Director of Sales and Marketing for Visionstate IoT Inc. “Building operators are turning to technology to track cleaning and maintenance activities to increase operational efficiencies and to provide a safer environment for the public.”

 

“Currently we are dealing with a list of more than 100 companies that are interested in implementing ourWANDA™platform,” she explained. “This includes everything from large retailers to municipalities.”

 

Part of the increase in demand is due to the expansion ofWANDA™’s capabilities. Originally,WANDA™was designed to track cleaning and maintenance in restrooms.  Using QR codes and its mobile app,WANDA™is now able to track assets and inventory in addition to cleaning and maintenance protocols.

 

Visionstate recently implementedWANDA™at a major Canadian-based hospital to track high-value assets such as wheelchairs and gurneys. Not only canWANDA™track asset usage, but also the history of the cleaning and maintenance schedules, all at a fingertip.

 

“WandaMOBILE makes it easy to track high-value assets and inventory,” Moore explained. “The additional benefit is that building managers also have access to the cleaning history, which is particularly important in the hospital environment.”

 

WANDA™is based on a subscription model, or software as a service, making it easy and affordable to implement. Visionstate charges customers an activation fee based on the number of users. As the size of the customer grows, the number of activations grows with it.

 

“Executing on our current customer list represents the potential for several million in residual, booked revenue,” said Moore. “Our goal is to acquire new customers quickly to build our residual income base.”  

    

About Visionstate Corp.

 

Visionstate Corp. (TSXV: VIS) is a growth-oriented company that invests in the research and development of promising new technology in the realm of the Internet of Things, big data and analytics, and sustainability. Through Visionstate Inc., it helps businesses improve operational efficiencies, reduce costs and elevate customer satisfaction with its state-of-the-art devices that track and monitor guest activities and requests. The footprint of itsWANDA™smart device now extends to hospitals, airports, shopping centres and other public facilities across and beyond North America. Through building up acollection 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.

 

To learn more, please contact:

Visionstate Corp.                                                                                        

CHF Capital Markets

Website: www.visionstate.com

John Putters, CEO

Perry Rapagna

Twitter:@visionstate

(780) 425-9460

(416) 868-1079 x 230

Facebook:@visionstate

jputters@visionstate.com                                                                              

perry@chfir.com

LinkedIn:@VisionstateCorp.

  

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 set forth in this material 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, without limitation, statements regarding future financial position, business strategy, use of proceeds, corporate vision, proposed acquisitions, partnerships, joint-ventures and strategic alliances and co-operations, budgets, cost and plans and objectives of or involving the Company. Such 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 expected", "budget", "scheduled", "estimates", "forecasts", "predicts", "intends", "targets", "aims", "anticipates" or "believes" or variations (including negative variations) of such words and phrases or 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 or performance to materially differ 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, certain of which are beyond the control of the Company including, but not limited to, the impact of general economic conditions, industry conditions and dependence upon regulatory approvals. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements. The Company does not assume any 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.

 

Copyright (c) 2022 TheNewswire - All rights reserved.

Copyright (c) 2022 TheNewswire - All rights reserved., source Press Releases

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Financials
Sales 2022 0,41 M 0,31 M 0,31 M
Net income 2022 -0,62 M -0,47 M -0,47 M
Net Debt 2022 0,23 M 0,17 M 0,17 M
P/E ratio 2022 -3,50x
Yield 2022 -
Capitalization 2,41 M 1,80 M 1,80 M
EV / Sales 2021 10,9x
EV / Sales 2022 5,94x
Nbr of Employees -
Free-Float 80,9%
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Managers and Directors
John A. Putters President, Chief Executive Officer & Director
Randa Kachkar Chief Financial Officer & Secretary
Alastair Medford Technical Director
James Duke Director & VP-Corporate Development
Kevin Gilbank Director
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