Gatekeeper Systems Inc V.GSI

Gatekeeper Announces Contracts with School Districts in AB

[davewho]

Gatekeeper Announces Contracts with School Districts in Alberta

Abbotsford, BC – May 17, 2022 - Gatekeeper Systems Inc. (‘Gatekeeper’ or the ‘Company’) (TSX-V:GSI) (OTC:GKPRF) a video and data solutions provider for public transportation and smart cities, announces the Company has been contracted by two school districts in Alberta to build out their school bus fleets with Gatekeeper’s product offerings to help protect school children. Both school districts are existing customers who are now completing their full-fleet build out of mobile data collectors, internal video, and on some buses, the Company’s Student Protector stop-arm camera solution. Approximately 170 school buses will be equipped under the contracts.      

“Our existing customers continue to expand our solutions throughout their fleets when they have budget to do so,” commented Doug Dyment, President and CEO. “School bus safety remains a top priority and our video and data offerings are very effective in helping to protect school children.”

Gatekeeper has installed approximately 40,000 intelligent mobile data collectors and 100,000 video devices on school buses, for over 3,500 school district customers.

[Ciao]

It's great to see that it's a repeat customer adding solutions to equip more of their fleet. There has been fear about losing customers, but perhaps repeat customers are just waiting for funding.

[Ciao]

More than likely, the dollar value of this contract was not revealed for competitive reasons. I'll hazard a guess that on average that the rev / bus would average about $4K CDN and that the value of this contract would be approx. $700K on these 170 buses.

[TopStockBuy]

That is a nice contract.  Don't forget the recurring revenue.  Sounds like all 170 busses will have mobile data collectors.  That's the gravy this company is building.  Long term steady revenue.  They can layer other services on top once they have the initial hardware installed.  

[Ciao]

In addition some have stop arm systems for some of the buses. We don't know if the revenue sharing program is still in place for ticketing fines.