Gatekeeper Systems Inc V.GSI

SEPTA's Video Refreshment Program Has Started With GSI

[Steady77]

SEPTA's $21.47 Million (US) or approx $28 Million (Can) Video Systems Refreshment Program has started!!!  The program implementation years are 2023 to 2027 so starting this July (SEPTA's fiscal years are from July to June each year so the 2023 year starts July, 2022). 

Gatekeeper's work is scheduled to start in April so the SEPTA program is slightly ahead of schedule.  Either way, it shows that SEPTA is committed to this video refreshment program.  And, it's a great sign that Gatekeeper's contract has started this program.  

Gatekeeper's SEPTA contract awarded this week past for the DVR switches & configurations on the New Flyer bus fleet was the beginning of this program.  For the next portion of the program, SEPTA is now looking for bus and rail DVR upgrade kits.  

Here is the related section from the fiscal 2022 budget.  GSI installed crash hardened DVRs on the trains a couple of years ago.  It has been GSI's largest SEPTA contract to date.  Now, the buses require the crash hardened DVRs.  There will be many contracts available through this program.  It should be a steady, consistent stream of business for GSI over the next four years of the program.


Video Systems Refreshment Program

Replacement of existing Mobile Video System components and installation of equipment on SEPTA's vehicle fleets including, but not limited to inward facing cameras within Regional Rail Cars and crash hardened digital video recording devices in the bus fleet.

$21.47 M Implementation       2023 – 2027

[Ciao]

Steady, I'm looking at the budget for FY2022 and p. 100 appears to show the calendar date that this is scheduled to start, and it shows 2023? https://www.railwayage.com/wp-content/uploads/2021/06/FY2022CapitalBudget_FY2022-2033CapitalProgram_rev.pdf Video Systems Refreshment Program $21.47 M Implementation 2017 - 2023; 2026 - 2032  <<<< 2021 budget $21.47 M Implementation

[Ottawa10]

i believe the 2023 fiscal year for septa actually starts in spring/summer of 2022 so implementation could likely begin very soon.   

[Ciao]

Page 100 shows the calendar year that the program would start and it does show 2023. If GSI won the contract, it would have been announced as well. It would be a material event that must be disclosed.

[Steady77]

Instead of the calendar year, any SEPTA year is based on their fiscal year which runs from July 1st to June 30th so the "2023 year" begins July 1st, 2022.  That's why they need the "2023 year" budget approved before the end of June (before the start of their 2023 fiscal year on July 1st, 2022). The $21.47 Million US amount is not one large contract but rather a

[Steady77]

"SEPTA’s Fiscal Year covers the 12-month period from July 1 through June 30." https://railpace.com/septa-board-approves-plan-to-invest-new-federal-infrastructure-funds/

[Ciao]

I'm not debating when their fiscal year starts, as per p. 100, when the work gets implemented they show "calendar" year. 

[Steady77]

I see your point.  Either the word "calender" should be "fiscal" or they started the program early.  It's unusual to see the word "calendar" anywhere when they talk about "fiscal" year everywhere else. The preliminary budget to be released next month will tell.  Based on the description of the awarded contract to GSI & the current one

[JamesW]

Been a minute or so..... Left the site for a bit and took a break. There has not been any deal from my knowledge. The RFP was two weeks long for the recent camera program. I imagine this program required upgrading internal systems. That might be the latest septa contract approved for GSI. Tie in the recent job posting that is a GSI employee internal at Septa it could be a sign of things to come

[davewho]

JamesW member since today. FYI

[JamesW]

Davewho, Always the power on the obvious....... Same guy. Took a break. Deleted the account. So yup. New today. As stated. 2.75 million shares. Sold a large chunk from $1.35 down to 1.05 Reinvested all. Same guy. New account. Again. As stated.

[freeedom45]

Welcome back James

[fergus2]

JamesW  just curious. if you were taking a hiatus why would you delete your moniker? Its seems totally unnecessary if you planned to come back.