Visionstate Q4 Management Discussion Highlights (Available On Sedar)
Accomplishments in 2023: In 2023, Visionstate Corp. achieved notable milestones:
• Signed a three-year agreement with a global partner, doubling monthly retainer revenue in Canada and expanding operations to key international locations, including the UK and Australia.
• Experienced significant business growth toward the end of the fiscal year, deploying WANDA in Canadian universities and doubling its footprint in the US, notably with its largest customer in that territory.
• Launched new Time of Flight (ToF) sensors for people counting, enhancing data insights for WANDA and proving valuable for facility operational performance analysis.
Strategy for 2024:
For 2024, Visionstate Corp. is strategically focusing on aggressive expansion in the US with WANDA. Plans include website upgrades for online subscriptions, lead generation strategies, and participation in major US conferences on cleaning and facility management. The company is also actively working on enhancing WANDA by developing new technology for equipment tracking and preventative maintenance which will be introduced to the market in the third fiscal quarter. The Company also anticipates launching ViCCi 2.0 in the second fiscal quarter which will further diversify Visionstate’s revenue streams.
Visionstate IoT Inc.:
Visionstate IoT Inc. specializes in developing technology, notably the "WANDA" product, for tracking and monitoring cleaning and maintenance activities in various environments. In fiscal 2023, Wanda evolved into a mobile version, WandaMOBILE, expanding its footprint beyond restrooms to become a complete facility management tool. The touchless and scalable nature of WandaMOBILE makes it particularly relevant in the context of COVID-19, aligning with new standards for interacting with publicly accessible technology. For fiscal 2024, Visionstate IoT Inc. is focusing on deploying WandaMOBILE, targeting large customers such as municipalities and school districts, with three-year contracts and monthly residuals based on activations per customer.
In 2023, Next Vision IoT Inc. developed IoT sensors for people counting using Time of Flight technology. People counting gives important context to facility management activities as it measures efficiency in cleaning and resource use against customer demand. The Company has since deployed 50 units to three locations in Canada including two university campuses and a large shopping centre in Calgary, Alberta.
On November 23, 2023, the Company announced that, subject to regulatory approval, it intends to complete an offering of up to 20,000,000 units of the Company (“Units”) at a price of $0.02 per Unit for gross proceeds of up to $400,000. Each Unit is comprised of one (1) common share of the Company (“Common Share”) and one (1) Common Share purchase warrant (“Warrant”) whereby each Warrant entitles the holder to purchase one (1) additional Common Share at a price of $0.05 per Common Share for a period of two (2) years following the date of closing. Between December 15 and December 21, 2023, $315,000 were received from subscribers for shares to be issued in late January 2024, which includes 5,000,000 Units issued to certain insiders of the Company.
Bullish
