EDMONTON, Alberta — Visionstate Corp. (TSXV: VIS) (“Visionstate” or the “Company”) Since the launch of Visionstate’s WandaMOBILE application in 2021, the potential applications for the technology have grown dramatically and has opened opportunities for the Company to track the cleaning of virtually any location, from municipal ashtrays to cannabis grow rooms.
Visionstate is currently engaged in a pilot project with a Canadian capital city to track publicly accessible ashtrays in high-traffic locations. In total, the municipality is tracking 40 different locations using WandaMOBILE with the potential to track up to 14,000, including bus shelters, recreation centres, and other city-owned facilities that require scheduled cleanings and maintenance.
“This pilot project demonstrates the versatility and scalability of WandaMOBILE,” explained Visionstate CEO John Putters. “Whereas at one time our technology was restroom-centric, today we can track virtually anything that requires regular cleaning and maintenance, including public ashtrays and cannabis grow rooms.”
WandaMOBILE is a mobile app that tracks cleaning activities, supply replenishment and provides detailed analytics on cleaning performance and more importantly, it gives management information on whether new protocols introduced as a result of COVID-19 are actually being met.
“WandaMOBILE is an essential tool for frontline workers to track their cleaning activities and whether or not they have met the new standards introduced as a result of the global pandemic,” Putters explained. “For facility managers, it’s a very easy but, more importantly, affordable tool to implement, and provides detailed data and analytics to measure performance.”
The opportunity for Visionstate technology to be adopted by municipalities is substantial. In Canada alone there are 3,700 municipalities, each of which can track the cleaning of thousands of different locations or physical assets. In the US there is an estimated 89,000 municipalities facing the same challenges.
A market share of just ten (10) percent of this market represents thousands of activations for the Company’s mobile application. Visionstate’s business model is based on software as a service (SaaS), not only making the app affordable, but significantly building the Company’s residual income as it acquires additional customers. The SaaS model earns Visionstate monthly residuals on a scaled basis from $24.95 per month to $14.95 per month for a 36-month term depending on the number of activations. For municipalities, the potential number of activations is over 300,000 across North America that readily translates to millions of dollars of potential revenue.
Visionstate also completed a project to track the cleaning of cannabis grow rooms for a leading producer and packager in Canada, a process that is mandated by federal government regulations. The implementation of the app in this sector significantly reduces paperwork while providing managers with detailed analytics to ensure regulations are being met.
“The implementation of WandaMOBILE for the cannabis sector proves the versatility of our technology and creates another opportunity for WANDA™,” Putters added.
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™ 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”
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.
Certain information set forth in this material may contain forward-looking statements that involve substantial known and unknown risks and uncertainties. All statements other than statements of historical fact are forward-looking statements, including, without limitation, statements regarding future financial position, business strategy, use of proceeds, corporate vision, proposed acquisitions, partnerships, joint-ventures and strategic alliances and co-operations, budgets, cost and plans and objectives of or involving the Company. Such forward-looking information reflects management’s current beliefs and is based on information currently available to management. Often, but not always, forward-looking statements can be identified by the use of words such as “plans”, “expects”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “predicts”, “intends”, “targets”, “aims”, “anticipates” or “believes” or variations (including negative variations) of such words and phrases or may be identified by statements to the effect that certain actions “may”, “could”, “should”, “would”, “might” or “will” be taken, occur or be achieved. A number of known and unknown risks, uncertainties and other factors may cause the actual results or performance to materially differ from any future results or performance expressed or implied by the forward-looking information. These forward-looking statements are subject to numerous risks and uncertainties, certain of which are beyond the control of the Company including, but not limited to, the impact of general economic conditions, industry conditions and dependence upon regulatory approvals. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements. The Company does not assume any obligation to update or revise its forward-looking statements, whether as a result of new information, future events, or otherwise, except as required by securities laws.
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