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Wytec International, Inc. (OTCQB: WYTC), an AI 5G company, has announced a $10 million SEC 506(c) 9.5% Convertible Secured Note Offering. The funds will be used to complete its AI Gunshot/Sensor technology and uplist to the Nasdaq Capital Market. The technology aims to protect schools from shooter violence and detect harmful drugs, with 86% accuracy for gunshots and 94% for non-gunshots in initial lab tests. Wytec is engaging multiple vendors for a pilot project involving 40 Texas ISDs. The company owns patented small cell IP and is awaiting approval for new provisional patents. Denton Law is assisting with patent applications. The offering is available to accredited investors only and secured by Wytec's patents.
Wytec International, Inc. (OTCQB:WYTC) has announced significant advancements in its threat sensing systems using distributed AI and smart sensor technology. The company's solutions, designed for schools and cities, have achieved 85% to 95% positive detection rates in real-world tests with over 200,000 samples. This performance significantly outpaces competitors' video-only gunshot detection systems.
Wytec is also developing prototype acoustic and gaseous sensors with embedded AI/ML algorithms to enhance gunshot detection and identify THC and other chemicals. These innovations will be available as indoor and outdoor units compatible with mobile wireless networks, including CBRS spectrum. The company has applied for the US Department of Homeland Security SAFETY Act designation and plans to conduct live seminars in San Antonio, Texas, in late 2024 to demonstrate its technology.
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