Philadelphia, PA, June 01, 2021 (GLOBE NEWSWIRE) -- VSBLTY Groupe Technologies Corp. (CSE:VSBY) (Frankfurt 5VS) (OTC: VSBGF) (“VSBLTY” or the "Company"), a leading software provider of security and retail analytics technology, today released its CEO Update to highlight a number of recent milestones and provide an outlook for the forthcoming quarters.
Financial Outlook
Jay Hutton, VSBLTY Co-founder & CEO, commented, “The company is pleased to announce that we have seen significant momentum in Q2 with bookings already exceeding $1.5M USD with a month left in this current quarter." He further stated, "2021 has been a transformative year for VSBLTY and we are anticipating that the remainder of this calendar year will show strong continued momentum.
Retail Outlook
“We are involved in many exciting programs and projects at the retail level with a wide variety of partners,” Hutton said. VSBLTY, along with Mexico’s Grupo Modelo (part of the AB InBev family of companies) and Retailigent Media, are deploying an international in-store media network of up to 50,000 Modelorama stores and independent neighborhood bodegas in Mexico, with the potential to expand to other Central and South American countries by the end of 2024. The deployment has started in more than 5,000 Modelorama stores and 15,000 neighborhood bodegas throughout Mexico, Peru, Ecuador and Colombia. In addition to beginning installations in the four initial countries, the company wishes to inform shareholders that progress toward the creation of the Joint Venture, which will include all three parties, is progressing well.
Earlier this year, Imbera, the world’s number one commercial refrigeration manufacturer, agreed to collaborate with VSBLTY to market and manufacture innovative video technology on new and existing coolers/freezers. Onyx Glass, a manufacturer of sophisticated glass for use in digital signage, began marketing the first patented, opaque/transparent/translucent to 100 percent transparent glass panels that attach to the inside of cooler and freezer doors, as well as vending machines. Imbedded video cameras and computers use VSBLTY SaaS software to display high impact motion graphics that can be customized based on the demographics of the shopper in the camera’s view. Interactive touch capability can also be integrated with the CMS and analytics software that utilizes AI and machine learning. “There is increased demand among leading consumer package goods companies to purchase the cooler/freezer door as a media vehicle, as it is among the most attractive screen formats to become a digital canvas. We have received our first orders and the first several shipments of the technology will take place this quarter,” he added.
VSBLTY recently developed content and began gathering analytics for a new, groundbreaking digital interactive endcap that WestRock, a preeminent provider of differentiated retail display solutions, created for Bayer’s Claritin products that earned three Outstanding Merchandising Achievement (OMA) awards, including Display of the Year. The WestRock Digital Endcap also received the Creative Award and Gold Award. The competition, which celebrates merchandising and design excellence at retail point-of-purchase, is presented by SHOP! Association, a global non-profit trade association dedicated to enhancing retail environments and experiences. “VSBLTY is proud of its association with WestRock, and we look forward to working with the firm as it continues its leadership role in the retail display industry,” Hutton said.
As a testament to the growing value of retail stores as a game changing new media channel (Store as Media), VSBLTY launched a 180-location deployment in May, in addition to two deployments in the grocery category, all sponsored by consumer packaged goods companies.
Security Outlook
“Security continues to be a major concern, not only in the U.S., but around the globe,” Hutton pointed out, “and VSBLTY is well positioned to help meet the increased demand for security solutions that incorporate artificial intelligence.”
VSBLTY and RADARApp, a Smart City Solutions provider, have deployed a WiFi6-based surveillance network utilizing intelligent cameras in Benito Juarez, a borough of Mexico City. Working with Intel, Ability Enterprise Co., Ltd. and Sky Packets, intelligent cameras are being installed in public spaces to provide detailed, automated analytics to local law enforcement.
The network, designed through a cooperative effort with Intel, provides information in real time that includes vehicle recognition and classification, pedestrian analytics, bicycle classification, traffic measurements, dwell times, and license plate and weapons detection. This advanced security solution has already helped reduce crime by 40 percent in some Mexico City communities. This collaborative platform links citizens, police and public institutions in a virtual community connected through WiFi6. The camera network has now been deployed in five Mexico City counties and has more than 8,000 locations installed.
“We see homeowners associations in the U.S. as a viable growth area for this proven state-of-the-art security technology,” Hutton stated. “Our latest weapons detection technology is now being tested by police departments in two major U.S. cities in light of the increasing threat of gun violence in the country,” he added.
After announcing a partnership with Sky Packets, a New York City-based developer of Wi-Fi Mesh networks, the company was pleased to launch its first network deployment in New York City in May.
Hutton concluded his remarks saying, “There has been a major inflection—not only in the core financial metrics of the company—but also in the opportunities that are being made available to us. The company is making progress toward securing partnerships that will directly address delivery and scale. We expect that this will provide the confidence to our new and prospective customers that we are ready to scale and can rapidly deploy our technology to address the growing security issues and meet the massive demand for media and measurement in the retail sector.”
Investor Relations
CHF Capital Markets
Cathy Hume, CEO, +1-416-868-1079, x251
CONTACT: Linda Rosanio, 609-472-0877
About VSBLTY (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.
The Company's securities have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the "1933 Act"), or under any state securities laws, and may not be offered or sold, directly or indirectly, or delivered within the United States or to, or for the account or benefit of, U.S. persons (as defined in Regulation S under the 1933 Act) absent registration or an applicable exemption from the registration requirements. This news release does not constitute an offer to sell or a solicitation to buy such securities in the United States.
The CSE does not accept responsibility for the adequacy or accuracy of this press release and has neither approved nor disapproved the contents of this press release.
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.
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. In particular, revenue estimates do not take into account the cost of such estimated revenue, including the cost of goods and the cost of sales. VSBLTY disclaims any intention or obligation to update or revise any FOFI contained in this AIF, whether as a result of new information, future events or otherwise, except as required pursuant to applicable law. 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.