(Image via Visionstate Corp.)
There are plenty of unique opportunities for investors out there, but few are so unique that their platform has essentially no direct competition in the marketplace ….
Headquartered in Edmonton, Alberta, Canada,
Visionstate Corp. (TSX-V: VIS) is an interactive technology Company that invests in the research and development of promising new technology, with a focus on products related to the Internet of Things (IoT), big data, analytics, and sustainability.
Its lead product is called Wanda, a device designed to replace antiquated paper-based systems for tracking public facility cleaning, resource utilization and maintenance. The device is installed at the entrance of a public facility and is used by staff and the public to log cleaning activities, inventory and incidents. The footprint of Visionstate’s Wanda smart device now extends to hospitals, airports, shopping centres and other public facilities across and beyond North America.
A growth-oriented and profitable Company with a collection of synergistic technologies, Visionstate’s IoT platform 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.
Moving on to what is under the Company’s corporate umbrella. Visionstate has just signed a letter of intent to acquire
Exceed Solar, a renewable energy company that Visionstate currently owns 40% of and will acquire its outstanding shares for a total consideration of $300,000. VIS has also entered into a non-binding Memorandum of Understanding earlier this year with Edmonton-based
Freedom Cannabis Inc. to pursue strategic opportunities in business and technology development. In February 2021, this portfolio company received its
“Processing License with Ability for Sale” from Health Canada.
The current market cap does not adequately reflect the Company’s value, revenue level and investment portfolio – Visionstate is clearly undervalued but this situation is unlikely to last much longer. The Company is gearing up for an exciting year ahead.
Stockhouse Editorial recently caught up with Visionstate’s Chief Executive Officer John Putters to learn more about how the Company will continue to innovate, reduce environmental impact and transform consumer experiences.
Thank you for joining us today, let’s start by looking at the WANDA platform, is it safe to say that there is no competition in this field and this platform is one of a kind?
That is correct, currently there are no other existing IoT solutions which track the entire cleaning process for facility managers. The Company has a diverse set of products, including tablets for restroom management and a robust mobile app that tracks cleaning and supply activities within any type of facility.
We touched a bit on how WANDA works, but for those who are new to your Company’s story, can you give us a rundown on what it can do?
Wanda is an IoT (Internet of Things) application currently applied to the facility management sector. The Wanda device collects data on cleaning activities, supplies, traffic, inventory and third-party sensors to make it a complete solution for any type or size of facility. Using the platform’s robust analytics engine, facility managers can quickly and easily flag service deficiencies, supply shortages and general operational inefficiencies. The technology also provides a digital audit trail of cleaning activities in case of liability such as slip-and-fall injuries or COVID-19 outbreaks.
How did the COVID-19 pandemic affect how WANDA is used? It seems like the perfect solution for people during this time.
The COVID-19 pandemic illustrated the need for adopting new and effective cleaning protocols in virtually every facility, private or public. In many respects cleaning is the front line in the battle against the pandemic since poorly cleaned surface areas can easily spread the virus. The demand for our solution went up dramatically since the outbreak was first announced because clean facilities have a direct bearing on people’s health and potential liability. Moreover, new cleaning protocols cannot be tracked by paper-based methods and the only solution is to adopt our technology. We have been trying to send this message long before the pandemic started.
Let’s talk finances, what profits has the Company returned recently?
Our objectives were twofold – introduce new disruptive technology to the facility management industry while also proving we can make money. In our first fiscal quarter we demonstrated that the Company is also capable of producing returns posting a $120,000 profit with a sales margin of almost 90%. Our focus now is on customer acquisition which we are growing through our software-as-a-service (SaaS) model. The residual income simply grows monthly as we add new customers.
The Company has seen impressive growth, earning a 162% increase in stock performance year-to-date, to what do you attribute this growth in value?
We believe that IoT is an emerging technology that is starting to impact all facets of our society, including facility management. Visionstate IoT Inc. was well ahead of the curve, introducing our product several years ago and now getting significant traction in the marketplace. Like all new technologies of this nature, the opportunities are enormous, and that is starting to materialize for our Company. Investors understand the life cycle of disruptive technology and are seeing the potential for Visionstate Corp. based on its industry-leading technology and growing customer list.
(Visionstate Corp. stock chart – Nov 2020 to April 2021. Click to enlarge.)
Digging into your subsidiaries, the recent Exceed Solar acquisition seems to bring a lot to the table, what can you tell us about how this will boost your overall business?
The acquisition of Exceed Solar was mainly done for three reasons. First, it adds to the overall mission of Visionstate Corp. that it is a company dedicated to positive change, particularly as it relates to sustainability and our environment. Secondly, Exceed Solar is focused on providing high-tech building structures, which provides an opportunity for Visionstate IoT Inc. to explore opportunities in bringing its facility management platform into the residential market. Third, Exceed will provide new revenue streams to Visionstate Corp., thus enhancing the appeal of investing in the Company.
What attracted you to Freedom Cannabis, and now that it has a retail sales licence, what do you project for its future?
Visionstate Corp. invested in Freedom Cannabis for several reasons. First, the company is producing world-class products and operates a state-of-the-art facility, which incidentally is partially powered by solar energy. Secondly, Visionstate is looking for a foothold into the cannabis sector of its IoT technology, which provides significant opportunities for revenue growth and product diversification. Now that the cannabis sector is focused on operational efficiencies and producing positive returns, IoT applications become more and more important.
Sustainability is a core principle of your foundation, why is this so important to your business?
I am a staunch adherent to the principles of shared value, which is a new form of capitalism that advocates becoming profitable by addressing social issues in our communities. Wanda, for example, is essentially focused on improving the health of the community by providing technology that will enhance cleaning practices. Similarly, Exceed Solar is focused on high-tech, sustainable building envelopes to reduce the impact of climate change which affects all of us. I believe this is the future and follows the trend toward measuring a company’s environmental impact, sustainability, and good governance. I practise what I preach in my private life too.
How challenging is it to grow your worldwide presence while keeping an eye on sustainability?
Visionstate IoT Inc. has a very strong global partnership which covers sales, marketing and distribution of the Wanda platform. This enables Visionstate to maintain a ‘lean’ staff that is primarily focused on deployments and product enhancement. So our sales growth is tied to a global salesforce that is quickly understanding the power behind our solution and taking it to the market in countries around the world. Visionstate is also focused on making it easy for the sales staff to sell the Wanda platform, which has also been significantly enhanced with the deployment of our mobile app called Wanda MOBILE. The mobile app tracks cleaning protocols throughout any facility and measures staff performance against the protocols. This is a very easy sell for the global salesforce.
What can you tell us about your plans to expand in the UK?
We are currently working with sales teams in both the UK and the rest of Europe to introduce Wanda to the market. We are able to do this easily though our global distribution partner which has sales staff in all corners of the globe. We are close to securing our first significant foothold in that market which we believe will lead to even more sales in the UK.
Looking further down the line in your corporate development, is there any possible news coming out later this year that investors should watch out for?
The Company continues to land major partners and increase sales as it relates to Wanda, so certainly watch for exciting news related to recognizable names in our sector as well as large customers. We are also continuously working on further advancing our technology and will be providing updates on how it is progressing and how it relates to customer acquisition and advancing Visionstate’s intellectual property.
Thank you again for the opportunity to learn more about your Company, subsidiaries, and the Wanda platform.
Thank you!
For more on this Company, visit
visionstate.com and wandasolution.com.
FULL DISCLOSURE: This is a paid article produced by Stockhouse Publishing.