news 2022-03-16 09:00 ET - News Release
EDMONTON, Alberta, March 16, 2022 (GLOBE NEWSWIRE) -- Visionstate Corp. (TSXV: VIS) ("Visionstate" or the "Company") is pleased to announce incredulous growth in sales and deployments results for its proprietary WANDA(TM) cleaning tracking technology in increasingly diverse locations.
Following strong penetration within the healthcare and academic community, the first quarter of 2023 included the addition of two senior's care facilities, four shopping centres, and a substantial university campus in Canada. Visionstate's WANDA(TM) footprint has also been integrated within a colossal US customer that is one of the largest private real estate equity firms globally.
Activations of our unique Internet of Things (IoT) have been estimated to include 130 deployments within a large Canadian university and an additional 100 within senior care facilities. Furthermore, expected expansion within a sizeable Canadian city could lead to a potential addition of 200 further activations for this cleaning, maintenance and inventory tracking technology. An expected charge range could include $15.95 to $24.95 per month of revenue over a 36-month term.
The most significant growth relates to the company's mobile app that was introduced to the market in 2021 and is an evolution of the restroom-centric touch screen tablets that formed the original WANDA(TM) IoT application. The mobile app has significantly reduced the upfront costs of implementing the solution, decreased installation related requirements, and greatly expanded the functionality of the WANDA(TM) technology.
"In early 2021 the Company was restroom-centric and tablet dependant," Putters explained. "Since COVID-related restrictions were lifted, we are seeing a significant spike in both the deployments of our technology, and the interest level in adopting WANDA(TM) into standard cleaning protocols. Today WANDA(TM) can track anything both within and outside of facilities with virtually no upfront costs. We have municipalities, for example, using WANDA(TM) mobile with QR codes to track cleaning activities while collecting valuable information from the general public on the state of cleanliness. This includes anything from publicly accessible ashtrays to garbage receptacles. It also demonstrates that if municipalities are concerned about cleanliness and public perception, WANDA(TM) is the ideal solution to meet those objectives."
The surge in WANDA(TM) sales is also attributed to the adoption of the mobile app into cleaning programs, including those offered by Visionstate's partner, which is at the forefront of cleaning and hygiene programs across the globe.
About WANDA(TM)
Designed to track cleaning and maintenance activities, the mobile version of WANDA(TM) has unlimited scalability and is applicable to diverse industry sectors, including hospitals, airports, shopping centres, community recreational facilities, schools and universities, senior's 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 activation of the mobile application and measures success based on the rate of customer acquisition, which is a standard measure of performance for technology companies that are based on the Software as a Service (SaaS) model. Customer acquisition increases residual income over the 36-month term of each contract and carries 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 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 its WANDA(TM) smart device now extends to hospitals, airports, shopping centres and other public facilities across and beyond North America. Through building up a collection 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.