Visionstate Corp.
TSX VENTURE : VIS

Visionstate Corp.

May 17, 2017 14:03 ET

Visionstate's IoT Product Installs Climb as WANDA Continues to Excite Building Services Resellers

EDMONTON, ALBERTA--(Marketwired - May 17, 2017) - Visionstate Corp. (TSX VENTURE:VIS) - Demand for "smart" technology in the Internet of Things (IoT) sector continues to grow as the value of data associated with connected devices is proven across a growing number of industry sectors.

WANDA, Visionstate's core technology, is quickly gaining traction in the building services sector as it continues to roll out to new locations. Upcoming installs include shopping centers in central and western Canada, and hospitals in central Canada and the US, including Florida and Massachusetts. With the additional locations, total deployment will increase to approximately 150 units, with North American locations climbing to over 40.

WANDA is a 10 or 15 inch smart device that monitors service and maintenance in cleaning areas such as public restrooms. It collects data from connected sensors which are then presented to building operators in an analytics dashboard. The technology enables users to compare, for example, public alerts that flag cleaning or maintenance issues with traffic sensor data to provide an overall satisfaction rating on the cleanliness of the restroom. This is without ever having to ask the patron. The technology also has disruptive implications for staff scheduling, inventory control, supply use and preventative maintenance.

Visionstate is consolidating its position within the IoT industry by building WANDA as a hub for all sensor data related to building services in large facilities such as airports, hospitals and shopping centers. The strategy of positioning WANDA as a data hub makes it a necessary application for the building services industry, and makes it independent of the sensors with which it communicates, thus broadening its applicability.

As sensors are critical to IoT applications, Visionstate is conducting research into key elements of this technology. The Company is in advanced stages of creating generic water sensors that can measure the performance of appliances such as toilets and urinals, in both the industrial and retail sectors. These sensors will measure water usage, performance and potential maintenance issues with the individual appliance, a key component to the burgeoning IoT industry.

From a sales and marketing perspective, the Company continues to leverage its relationships with large resellers and building services contractors. These companies have extensive networks within each industry, including hospitals, shopping centers, office buildings and airports to name a few. As the technology continues to be deployed it is very likely to become the standard for building services based on the analytics.

Industry analysts predict the IoT market to grow to $60 Trillion by the year 2020, and the install base of connected devices to grow from 30.7 billion devices in 2020 to 75.4 billion in 2025. The demand for IoT applications is being fuelled by optimizing operations and improving real time performance.

For more information on WANDA see, WANDA brochure.

About Visionstate Inc.

Visionstate Inc., a division of Visionstate Corp (TSX VENTURE:VIS) specializes in the Internet of Things and analytics. The Company's core product, WANDA, is a 10/15 inch smart device used to monitor restroom cleaning, supplies, and maintenance activities. WANDA is installed in locations throughout North America, including hospitals, airports, office buildings, public facilities and shopping centers.

More information can be found at visionstate.com.

Forward Looking Statements

This news release may include certain forward-looking statements that are based upon current expectations, which involve risks and uncertainties associated with Visionstate's business and the environment in which the business operates. Any statements contained herein that are not statements of historical facts may be deemed to be forward-looking, including those identified by the expressions "anticipate", "believe", "plan", "estimate", "expect", "intend" and similar expressions to the extent they relate to the Company or its management. The forward-looking statements are not historical facts, but reflect Visionstate's current expectations regarding future results or events. These forward-looking statements are subject to a number of risks and uncertainties that could cause actual results or events to differ materially from current expectations. Visionstate assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those reflected in the forward-looking statements.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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