EDMONTON, Alberta, May 02, 2018 (GLOBE NEWSWIRE) -- Visionstate™ Corp. (TSX VENTURE:VIS) Visionstate (or “the Company”) is
pleased to share this message from John Putters.
Dear Fellow Stockholders,
Over the past year we have witnessed dramatic growth in the adoption of new technologies in the realm of the
Internet of Things (IoT). This technology is being used to facilitate safety and security, optimize building maintenance and energy
usage, and is improving efficiencies all around us. It is a powerful tool that is even further amplified when paired with real-time
analytics and other technologies. Visionstate is on the leading edge of this emerging technology. With expertise in IoT, AI and
sustainable building technology, Visionstate is developing disruptive new products for commercial markets that are just starting to
understand the business application potential for these technologies. I am excited for what the future holds!
Sales Strategy
WANDA, our IoT next generation solution device for monitoring common areas, is providing value to customers in
diverse locations including airports, hospitals, shopping centers and schools. We had been limited by our sales capacity and eager
to greatly expand our sales reach. This was accomplished by aligning with a multinational company that specializes in the
distribution of cleaning and supplies products, Bunzl. This agreement has given Visionstate a global sales, marketing and
distribution reach for WANDA and expands our sales reach even beyond North America.
Together with Bunzl significant resources have been devoted to developing training and sales materials,
culminating in live training sessions earlier this year that involved every member of the Bunzl Canada sales team. This front-line
team was extremely excited about WANDA and the value it could bring to many of their existing customers. As efforts are ramped up
to train our partner’s sales staff in Europe and Australia, these regions will be putting into place the infrastructure to sell and
distribute WANDA as well. We anticipate accelerated sales growth as these regions complete their training and fully execute on
product sales.
If you haven’t heard, our WANDA technology was awarded the top innovation award by the UK’s Cleaning & Support
Services Association (CSSA)! This is a huge positive for Visionstate, as WANDA beat out other top global companies in this cleaning
industry showcase event. Because of this, WANDA’s visibility in the marketplace has grown and our sales team has gained a
tremendous tool that will help them in selling this product.
In addition, the Visionstate team is currently executing on several new pilot projects in the US, including some
of the largest healthcare jurisdictions in the country. Other pilot projects that are underway include school districts and
airports in the US. These projects demonstrate a growing interest by building operators, as they understand the return on
investment offered by IoT solutions such as WANDA. These projects have the potential to generate orders for hundreds of WANDA
devices within the next 6-12 months.
Our Investment Strategy
Looking to the future, our board of directors created a subcommittee specifically to address investment
strategies for Visionstate Inc. Based on their recommendations, the board has asked that the primary focus be on leveraging recent
acquisitions to make significant enhancements to WANDA and CINDI, so that the latter can be brought to market as quickly as
possible. An important part of this strategy will be leveraging the capabilities of Chatbot Incubators, by integrating their AI
capabilities into our CINDI product. This strategy will serve to diversify Visionstate’s revenue streams and consolidate our
position as a leader in IoT applications.
In addition, our board recommends moving forward with a smaller development investment in Exceed Solar, as it is
ready to go to market. Sustainable technology is an area that I am excited about and this latest addition to Visionstate Corp. will
provide an excellent gateway to enter into the residential smart home market with its intelligent sensors. This investment will
take the form of a convertible debenture secured against Exceed Solar assets, to protect Visionstate Corp. shareholders.
Also, recently discussed by the board is the high risk and volatility of cryptocurrency. The board has
determined that the risk and uncertainty in this technology is too high and direct benefits back to Visionstate and its products
not clear. In addition, the high amount of power consumption goes against our company’s value and goal of sustainable technology.
Therefore, the board is recommending against further investment in this technology.
With this direction from our board, we will remain laser focused on improving Visionstate’s core solutions and
increasing market awareness and revenues across global markets for these products. Our recent capital raise provides the capacity
to continue expanding functions for core products to execute on these board directives.
Product Innovation
Ongoing improvement and innovation to our core product is clearly a priority and WANDA will continue to be
enhanced. A new people counter functionality was recently introduced and multi-language options are being rolled out to customers
this week. Currently in beta testing phase are cleaning product monitoring sensors that measure and communicate supply levels in
real time, as well as enhanced cellular connectivity with 4G technology.
The next phase of product development has begun for CINDI, which includes integrating chatbot technology into a
digital concierge function that adds a new and exciting aspect to this product. With a focus on mobile functions and artificial
intelligence (AI), the new and improved CINDI product will target the hospitality industry and be ready for market in the second
half of this year.
Exceed Solar is on pace to unveil a beta version of the customizable, solar-powered “Sol Spaces” module next
month. We anticipate much buzz for this revolutionary yet affordable product with a trial-living program that will debut this
summer in an area just outside of Fairmont BC.
I imagine other possibilities across our Visionstate Corp. technologies, such as potentially integrating WANDA
technology into Sol Space modules, to take advantage of synergies between sustainable housing and monitoring residential power
usage.
Executive Team Additions
I’m excited to have excellent new additions to our team, adding key highly experienced associates that will be
instrumental to Visionstate’s long-term success and growth:
Debra Williams, EVP in charge of Visionstate’s Global Strategy and Business Development, has been building out
plans and working to expand our global sales and distribution, and is actively working on developing key strategic partnerships.
Since starting with us, she has been instrumental in landing several new accounts and is working closely with institutional
customers and pilot projects to expand our business in the U.S.
Christine Beuchert was brought on recently as Director of Marketing and Communications to lead Visionstate’s
marketing efforts and improve sales materials. She has improved the frequency and quality of our communications with investors and
is working on new initiatives that will buttress sales efforts, including a new Visionstate sales video that will explain our WANDA
product, including enhanced functions, in multiple languages. She has also been given the mission of updating our branding and
website and will be developing a new pitch deck and related sales materials.
Conclusion
Our goal is to build shareholder value by increasing revenues from WANDA while establishing a base of new core
technologies that will diversify revenue streams and broaden our portfolio. We will stay growth-oriented and pioneer through
utilization of new technologies.
Thanks to you our shareholders for supporting us on this mission of making the world a better place through
disruptive and sustainable innovation!
Sincerely,
John
John Putters
President and Chief Executive Officer
Visionstate Corp.
About Visionstate Corp.
Visionstate Corp (TSX VENTURE:VIS) is a growth-oriented company that invests in the research and development of
promising new technology in the realm of sustainability, analytics and the Internet of Everything. 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™ smart device now extends to hospitals, airports,
shopping centres and other public facilities across North America. An extension of that product, CINDI™, has the potential to
transform the guest service experience in the hotel industry. With the recent acquisition of Chatbot Incubator, specializing in
applications for artificial intelligence, development is underway to make CINDI into a personal concierge, offering personalized
services in every guest room. Through building up a collection of synergistic technologies, Visionstate Corp. will continue to
innovate, reduce environmental impact and transform consumer experiences.
For more information please visit www.visionstate.com
and follow @Visionstate on Twitter and Facebook.
Visionstate is listed on the TSX-V exchange under the ticker symbol "VIS”; additional investor information is available on
SEDAR.
Forward Looking Statements
This news release may include certain forward-looking statements that are based upon current expectations,
which involve risks and uncertainties associated with Visionstate’s business and the environment in which the business
operates. Any statements contained herein that are not statements of historical facts may be deemed to be forward-looking,
including those identified by the expressions "anticipate", "believe", "plan", "estimate", "expect", "intend" and similar
expressions to the extent they relate to the Company or its management. The forward-looking statements are not historical
facts, but reflect Visionstate’s current expectations regarding future results or events. These forward-looking statements
are subject to a number of risks and uncertainties that could cause actual results or events to differ materially from current
expectations. Visionstate assumes no obligation to update the forward-looking statements, or to update the reasons why actual
results could differ from those reflected in the forward-looking statements.
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.
For more information about Visionstate, please contact John Putters at (780) 425-9460 or jputters@visionstate.com.