January 05, 2023 (Source) – Visionstate Corp. (TSXV:VIS) is pleased to unveil its 2023 business objectives for its wholly owned subsidiary, Visionstate IoT Inc. (“Visionstate” or the “Company”), which provides proprietary software to the facilities management industry to track and monitor cleaning and maintenance activities.
Company President to host virtual information session on corporate plans
Among the objectives for 2023 is the introduction of a new pricing model under the software as a service model (SaaS), which will generate additional revenues as Visionstate moves toward value pricing.
“Visionstate has demonstrated the value of its software in tracking and monitoring cleaning activities, essential for disease prevention,” explained Shannon Moore, President of Visionstate IoT Inc. “With demand for our software increasing, the Company believes this is the right time to adjust our license fees to meet the demand for our product.”
Currently, WANDA™ is installed in diverse industry verticals across Canada, the US and more recently, Europe. The Company’s mobile app is easy to install, quick to deploy, and provides advanced analytics for facility managers to ensure cleaning protocols are being met. The focus on effective cleaning has dramatically increased because of COVID 19 and its many variants that continue to challenge healthcare practitioners globally.
“WANDA™ is an essential part of the new cleaning protocols that have been introduced over the past two years,” explained Moore. “Archaic paper-based methods of tracking this information are no longer effective and are being replaced by applications that can provide the analytics and reporting required to ensure a clean and safe facility.”
Along with license fee adjustments, the Company is also focused on expansion into new markets outside of Canada. Visionstate already has a foothold in the US market through a large reference client but will be focused on expanding the Company’s presence in key geographical locations. In 2022, Visionstate secured a foothold in Europe as well, with installations in a hospital network in Belgium, providing a reference customer for expansion throughout Europe as well.
Meanwhile, the Company continues to build new functionality into its WANDA™ software to further expand the potential applications for the software. The new features include upgraded analytics dashboards, easier set ups and scalability to accommodate large facilities such as universities, stadiums and school divisions.
“With the added functionality we can further expand our market penetration,” said Moore. “We are exploring other verticals such as home health care to further scale the technology to track patient care.”
The Company is holding a virtual information session on Thursday, January 12, 2023 at 2 pm MST (4 pm EST) hosted by Visionstate President Shannon Moore. Please join us for this presentation which will be followed by questions and answers. The meeting link is as follows:
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. Visionstate IoT Inc. is a wholly-owned division of Visionstate Corp. Through Visionstate IoT 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”
To learn more, please contact:
Visionstate IoT Inc.
Shannon Moore, President
CHF Capital Markets
Perry Rapagna, Manager, Corporate Development & Senior Account Manager
Tel: 416-868-1079 x230
LinkedIn: Visionstate Corp.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accept 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.