VSBLTY CEO PROVIDES CORPORATE UPDATE
VSBLTY Groupe Technologies Corp. (CSE: VSBY) (OTC: VSBGF) reports momentum building in the security and retail sectors as economies reopen post-COVID-19. CEO Jay Hutton highlighted partnerships with major kiosk manufacturers for contactless temperature screening and advanced facial recognition technology. The firm's initiatives include testing algorithms in New York's Times Square and deploying security solutions in Mexico City. Additionally, VSBLTY is creating new revenue streams through engaging digital signage in retail environments. A pilot with a national drug retailer is underway, aimed at improving ROI.
- Partnerships with major kiosk manufacturers enhance market presence.
- Engagement in Smart Cities projects supports long-term growth.
- Pilot programs in retail demonstrate potential for improved ROI.
- None.
MOMENTUM BUILDING IN SECURITY & RETAIL SECTORS AS WORLD ECONOMIES REOPEN DURING PANDEMIC
Philadelphia, PA, Oct. 13, 2020 (GLOBE NEWSWIRE) -- VSBLTY Groupe Technologies Corp. (CSE: VSBY) (Frankfurt: 5VS) (OTC: VSBGF) (“VSBLTY”), a leading retail and security software technology company, reports momentum building in both the security and retail sectors as the firm responds to COVID-19 and the re-opening of the world’s economies Co-founder & CEO Jay Hutton announced today in his Q4 2020 CEO update.
VSBLTY Technology Helps Businesses Reopen
“In this COVID-19 pandemic era, businesses are working to re-open safely by creating new security protocols, including adjunct temperature screening measures to routinely provide additional safeguards for employees, retail customers, and venue patrons entering all types of facilities,” Hutton said. “We’ve partnered our proven groundbreaking software technology with world-class companies to meet today’s needs for temperature sensing and alerting using our facial and object recognition for access control, mask detection, and occupancy, and density management for social distance monitoring,” he explained.
VSBLTY is co-partnering with major kiosk manufacturers to provide contactless, self-service technology to accurately and efficiently measure people for “at-risk” temperatures at the point of admittance, thereby reducing virus transmission potential between the operator and the person being scanned.
VSBLTY technology adds facial recognition to thermal imaging, and the firm is working with KIOSK Information Systems, a world leader in the design and manufacture of self-service automation, and Synect, a content creation agency that enables video displays of unlimited size and scale in retail stores, airports and other complex facilities throughout the country.
VSBLTY Advances Multiple “Smart Cities” Applications
“Our advanced technologies are being adopted in multiple ‘Smart Cities’ Solutions around the globe,” Hutton reported. The following "Smart Cities’ initiatives have commenced or are scheduled to begin this quarter:
- VSBLTY computer vision is benchmark testing people and traffic counting in New York’s Times Square. The company is testing algorithms to determine the best utility in “Smart Cities” applications in concert with its Fortune 50 global technology partner.
- VSBLTY, in partnership with RadarApp, a Smart Cities Solutions provider, is beginning a production deployment in late October that leverages WIFI6 wireless infrastructure to provide high performance and low-cost surveillance connectivity. The firms are installing thousands of security kits, powered by VSBLTY software, in the multi-million dollar investment Mexico City communities are making in its safety lighting and integrated security program.
- VSBLTY has been selected to lead a thematic area for a global innovation, science and technology hub. More than 100 companies will be joining with several other firms selected to run industry-specific thematic areas. VSBLTY was selected to lead the Smart Retail area.
Hutton added, “As part of our Smart Cities solution in Mexico we are developing an advanced camera integration that incorporates artificial intelligence processing directly on the camera. This will improve efficiencies and save significant dollars for network operators.”
Innovative Display Program is Producing ROI for Global Brands
Sponsored by a global brand, VSBLTY is in a Phase 1 deployment in a national drug retailer with an innovative display program to promote seasonal drug products through an internet-connected, interactive end cap solution. This sophisticated integration incorporates third party information with detailed customer and store analytics while tracking weekly sales data. Learnings from this test will help drive improved performance and increase ROI.
VSBLTY Helps Create New Media Networks for Retailers
VSBLTY’s advanced technologies are not only providing retailers with immediate and comprehensive customer information but are producing a new revenue stream by selling the stores to brands as a more engaging advertising medium. “There is no better place to enable brands to sell their products than where those products are on display and customers are ready to buy,” Hutton said. “Unlike any other media, retail digital signage can interact with and engage customers, even answering questions right at point of sale. A network of signage in chain stores is a very attractive advertising medium for product manufacturers,” he said.
To advance “The Stores as Media,” VSBLTY has an innovative pilot program with a U.S. East Coast grocery chain, a large deployment in a national fuel and convenience retailer in South Africa and the launch of a digital network in a convenience store chain with more than 9000 stores in Mexico. The first phase deployment began in September.
In addition, the company has signed a marketing service agreement with Octagon Media Corp. and granted 350,000 three-year options to the firm. The options are exercisable at .17 share CAD.
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About VSBLTY (www.vsblty.net)
Headquartered in Philadelphia, VSBLTY (CSE: VSBY) (Frankfurt: 5VS) (OTC: VSBGF) (“VSBLTY”) is the world leader in Proactive Digital Display™, which transforms retail and public spaces as well as place-based media networks with SaaS-based audience measurement and security software that uses artificial intelligence and machine learning.
FORWARD-LOOKING STATEMENT
Certain statements in this news release constitute forward-looking information within the meaning of applicable securities laws. Generally, forward-looking information can be identified by the use of forward-looking terminology such as “expects,” “believes,” “anticipates,” “budget,“ scheduled,” “estimates,” “forecasts,” “intends,” “plans,” and variations of such words and phrases, or by statements that certain actions, events or results “may,” “will,” “could,” “would,” or “might,” “be taken,” “occur,” or “be achieved.” Those forward- looking statements include a number of statements related to the outlook for future operations, including statements about VSBLTY’s business plans, booking new projects, revenue growth, and new opportunities presented by COVID-19 security solutions.
Forward-looking statements are neither historical facts nor assurances of future performance. Forward-looking information contained in this news release is based on certain assumptions regarding, among other things, expected growth, results of operations, performance, industry trends and growth opportunities. While management considers these assumptions to be reasonable, based on information available, they may prove to be incorrect. By their nature, forward-looking statements involve a number of risks, uncertainties and assumptions that could cause actual results or events to differ materially from those expressed or implied by the forward-looking statements. These risks, uncertainties and other factors include, but are not limited to: pricing for the Company’s products and services; the ability to enter into contracts and ability of third parties to honor their contractual obligations; the decisions of third parties over which the Company has no control; changes to government regulations; force majeure events; limits on the ability of the Company to implement and fulfill its business strategies; general economic conditions; adverse industry events; operating costs exceeding the Company’s expectations; loss of markets or failure to enter new markets; future legislative and regulatory
developments; inability to access sufficient capital from internal and external sources, and/or inability to access sufficient capital on favorable terms; the ability of the Company to implement its business strategies including expansion plans; and competition. The foregoing factors are not intended to be exhaustive, and readers should refer to the detailed risk factors described in VSBLTY’s Annual Information Form which is available under the Company’s profile at www.sedar.com. These risks, uncertainties and assumptions could adversely affect the outcome and financial effects of the plans and events described herein. Forward-looking statements contained in this news release regarding past trends or activities should not be taken as a representation that such trends or activities will continue in the future. The Company does not undertake any obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.
This news release includes financial outlook related to future revenue and financial performance, which is subject to the same assumptions, risk factors, limitations, and qualifications as set forth in the above paragraphs. Such financial projections contained in this news release were made by management as of the date of this news release and are provided for the purpose of providing readers with an understanding of the Company’s business plan. Readers are cautioned that the financial outlook contained in this document should not be used for purposes other than for which it is disclosed herein.
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