More Info About Visionstate & AssetsBusiness Overview Visionstate Corp. is a publicly traded company listed on the Toronto Venture Exchange (TSXV: VIS). The Company has two operating divisions which are wholly owned subsidiaries of Visionstate Corp., including Visionstate IoT Inc., which is focused on Internet of Things applications for facility management, and Next Vision IoT Inc., a company formed in 2021 to conduct development of related IoT applications, including integrating conversational artificial intelligence for customer service in brick-and-mortar environments. Visionstate Corp. has also invested in privately held companies which are synergistic with its operating divisions, including Sol Spaces Inc. (formerly Exceed Solar Inc.) and Freedom Cannabis Inc.
Visionstate IoT Inc. develops and markets technology under the brand name "Wanda" for tracking and monitoring cleaning and maintenance activities in diverse environments such as hospitals, airports, office buildings, schools, and shopping centers. Branded under the name "Wanda," the technology was originally designed to track cleaning activities in restrooms using industrial touchscreen tablets mounted on the exterior of the restroom
In fiscal year 2022, Visionstate IoT Inc. focused on market expansion for the mobile version of its Wanda technology, known as WandaMOBILE. This mobile app served as a complete facility management tool, enabling tracking of any location or item within and outside a facility. In March 2023, the WandaMOBILE app underwent a significant upgrade, expanding its functionality. With the ability to utilize QR codes or NFC tags, the software can now track a wide range of assets and items beyond cleaning protocols. This upgrade allows for enhanced tracking and monitoring capabilities, offering a versatile solution for facility managers.
Moreover, Visionstate Corp. made investments in artificial intelligence (AI) and has integrated AI capabilities into the Wanda platform. The introduction of AI enhances the functionality of Wanda, enabling advanced analytics, predictive maintenance, and intelligent insights for facility management. The integration of AI technology further strengthens Visionstate IoT Inc.'s offering and positions the company at the forefront of innovation in the facility management space.
Wanda is sold as a software-as-a-service (SaaS) solution through the company's global distribution partner. With no upfront hardware costs for WandaMOBILE, the technology can be deployed rapidly across various environments. The low deployment costs and maintenance fees contribute to a margin of approximately 90% for WandaMOBILE. The mobile app has been well-received in the market, and based on user feedback, new features have been developed, including audit capabilities, work orders, task assignments for cleaning staff, and scheduling of cleaning events.
The Wanda platform, with its upgraded mobile app and AI integration, offers a comprehensive solution for facility management needs. By utilizing QR codes or NFC tags, the software can efficiently track a wide range of assets and items, providing facility managers with granular insights and actionable data. Visionstate IoT Inc. continues to focus on expanding its market presence and meeting customer demands, offering cutting-edge technology and innovative solutions for facility management.
Next Vision IoT Inc., a wholly owned subsidiary of Visionstate Corp., specializes in research and development of products based on IoT and conversational artificial intelligence (AI). The company's flagship project is ViCCi 2.0, an interactive customer service application for physical locations. The new version incorporates motion detection and sound-sensitive microphones to enhance customer interaction. Next Vision IoT partnered with Fluido.ai Inc. to provide the conversational AI platform. The company has also developed IoT sensors for the agricultural sector, including the cannabis industry, to measure environmental conditions and optimize performance. The technology is being tested and will be deployed in greenhouses in the second quarter of 2023.
Visionstate Corp. has invested in Sol Spaces Inc. (formerly Exceed Solar Inc.) by way of interest-bearing convertible debentures. According to the terms of the debentures, Visionstate Corp. can convert the debt for 40% of the outstanding equity in Sol Spaces Inc. Sol Spaces Inc. is a company focused on smart building envelopes that incorporate sustainable building materials, solar energy, and IoT technology designed to monitor the performance of the building. In October 2021, the company launched its prototype greenhouse at the University of Alberta with a 2.4 kW/h solar kit. The university is using the greenhouse to carry out research and testing into IoT technology in measuring environmental conditions.
Visionstate Corp. owns approximately 3.5 million equity shares in Freedom Cannabis Inc., a privately held company located in Edmonton, Alberta. Freedom Cannabis is a vertically integrated business that includes licensed production, licensed retail, packaging, and extracts. The company has collaborated with Next Vision IoT, a wholly owned division of Visionstate Corp., to implement WandaMOBILE to track cleaning activities.