VSBLTY CEO ISSUES Q3 CORPORATE UPDATE
Company Reported Quarterly Bookings of $4.5 Million USD
PHILADELPHIA, PA., November 29, 2021 (GLOBE NEWSWIRE)—VSBLTY Groupe Technologies Corp. (OTCQB: VSBGF) (CSE: VSBY) (Frankfurt 5VS) (“VSBLTY”), a leading software provider of security and retail analytics technology, today issued its CEO Update to highlight Q3 financial performance as well as recent corporate milestones.
VSBLTY CEO & Co-founder Jay Hutton said, “VSBLTY is pleased to report that the third quarter bookings were a strong $4.5 million USD, resulting in a booked to revenue ratio of over 8 to 1 and providing a leading indicator of the Company’s revenue growth potential. Q3 revenue reached $522,683 USD, reflecting continued strong sales of both retail and security solutions.” Hutton added, “Further encouraging is that Q4 revenue is already considerably ahead of Q3 results and we are anticipating a strong finish to this calendar year.”
Since the end of Q3 the Company has seen a significant increase in the exercise of its previously issued Warrants, resulting in cash inflows of over $2.8 million USD. In addition, the Company’s remaining convertible debt now stands at under $500,000 USD.
We are especially excited at the vast growth and profit potential of our “Store as a Medium” program which enables us to partner with major firms, gives brands the opportunity to inform, influence and motivate consumers at point of purchase and provides a new and developing advertising revenue stream for large and small retailers. “The Store as a Medium concept is helping to re-invent brick-and-mortar retail as its power is increasingly recognized by both brands and retailers,” Hutton said.
VSBLTY Teams with Phoenix Vision to Build Major Media Network in U.S. Convenience Stores
Earlier this month VSBLTY and Phoenix Vision signed a letter of intent to collaborate on building a major media network starting with more than 600 convenience stores throughout the U.S. VSBLTY’s other global ecosystem partners will provide turnkey services including hardware acquisition through deployment of the network, analytics reporting and field maintenance. VSBLTY will work with other partners to elevate the network to scale nationally with international brand consumer product advertisers and other clients as the group adds important new endpoints in major DMA markets throughout the U.S.
VSBLTY, Four Other Firms Create New Company to Focus on Large IaaS Projects
VSBLTY is one of five founding partners of Austin GIS, a new company that will focus on large IaaS projects leveraging computer vision, machine learning and infrastructure. HCL Technologies and Tech Mahindra are also founding members. VSBLTY is the exclusive retail analytics and computer vision provider to the new entity, which is designed to take advantage of the growth opportunities in the industries of Internet of Things (IoT) and 5G RAN. The company will focus on Device as a Service, Retail Analytics as a Service, and Smart City Analytics as a Service. VSBLTY is investing $1 million USD in Series A Preferred Stock to purchase a 10 percent seed position in the new company, a move VSBLTY termed a “strategic ground floor joint venture.”
VSBLTY Signs 5-Year Contract with EOS Linx to Provide Analytics Software
VSBLTY’s DataCaptor™ analytics solution is being installed in solar-supported EOS Charge Stations in convenience and retail stores, shopping centers and hotels. With a 75-inch digital display, EOS Charge provides a digital out-of-home advertising solution that is designed to maximize brand exposure and consumer engagement. The VSBLTY technology leverages camera and sensory technology with artificial intelligence (machine learning and computer vision) to provide real time analytics and audience measurement. The initial EOS Charge Stations are being installed in Atlanta and Chattanooga, with additional deployments planned throughout the Sunbelt. Hutton said the total contract value for VSBLTY over the first 504 units deployed will be $1.16 million USD.
Mexico City Citizens Feel Safer Thanks to VSBLTY & RADARApp Security Technology
The world’s first WiFi6-based surveillance network using intelligent cameras deployed in Benito Juarez has helped the community’s citizens feel they live in the safest borough in Mexico City, and the second safest in all of Mexico. That was reported in a recently released survey by the National Institute of Statistics and Geography (INEGI). Using advanced VSBLTY and RADARApp technology, intelligent cameras are installed in public places in Benito Juarez and provide detail automated analytics to local law enforcement and safety alerts to residents on their mobile phones. For the first time, Mexico City has a better perception of security than any other city in the country.
New Generation of Vending Machines Previewed at Host Milano 2021
VSBLTY’s proprietary software for demographic triggering is an integral part of the new and innovative vending machines that Bianchi Vending introduced in October at Host Milano 2021, the international hospitality exhibition in Fiera Milano (Rho), Italy. Bianchi previewed a new generation of vending machines that combine a flexible physical structure with digital tools to improve the customer experience. VSBLTY’s AI-driven technology is used to provide valuable demographic information about vending machine customers that will help vending machine operators improve their bottom line.
Amin Shahidi Named a VSBLTY Director
Bringing more than 25 years of high-impact leadership, digital transformation consulting and consumer/retail expertise, Amin Shahidi has been elected to the VSBLTY Board of Directors, it was announced in September. He is a former senior strategic executive with Sensormatic, where as Vice President Global Strategy Transformation, Alliances and M&A, he was responsible for developing the overall business strategy, including commercial, operating and financial models.
“We are very pleased with our Q3 results and are excited to be witnessing the momentum in our business accelerate in this current quarter,” stated Hutton. “VSBLTY is proud and honored to be partnered with a series of world class companies and we look forward to expanding into several new markets on both the retail and security sides of our business in the coming months.”
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Cathy Hume, CEO, 416-868-1079, x251
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Jonathan Paterson, 203-862-0492
Graham Farell, 416-842-9003
CONTACT: Linda Rosanio, 609-472-0877
About VSBLTY (https://vsblty.net/)
Headquartered in Philadelphia, VSBLTY (OTCQB: VSBGF) (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. Its proprietary technology effectively integrates with other digital retail solutions, including QR codes and mobile applications. The firm is also recognized for its leadership role in the growing Store as a Medium movement that enables brands to reach customers when and where buying decisions are being made while producing a new revenue stream for retailers.
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.
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.