As provided to us by WBA and approved by their shopping complex client for release where needed, the company that will be providing the leasing company for this installation is associated with IPX Communications (“IPX”), the company that will be performing the installation for this shopping complex. IPX was chosen as WBA’s installer due to their experience and expertise in a wide variety of channels, several of which WBA anticipates securing business from.
IPX completed a four-day inspection of the shopping complex on September 22, 2016. This inspection was needed in order to revise their installation schedule as required by the shopping complex to ensure that residential and commercial tenants would not suffer any undue inconvenience and that there would be no disruption of the complex’ events caused by the installation.
Funds for the payment of the initial 500 Smart Antennas and iSIGN supplied ancillary equipment is with WBA’s lawyers, with release pending upon the finalization of the installation schedule and additional hardware costs of the solar and battery back-up equipment. This equipment is a requirement of the shopping complex and their insurance company, in order to ensure continually broadcasting capabilities and deliver of the complex’ promised insurance premium reduction.
WBA reports that this is expected to be completed within one to two weeks.
The shopping complex is planning to have this world-first installation of a broadcasting network for the delivery of proximity messaging, with security and safety uses, to mobile devices, fully presented at a major press/media event once installation is completed and broadcasting is live.
Currently, our Smart Antenna technology is being tested in various locations to confirm messaging and acceptance by mobile devices.
As stated previously, this shopping complex is only one of 16 properties managed by their management company. This current installation is serving as a model for what is expected to be installations into the other 15 properties. It is anticipated by WBA, that the other 15 properties will have our Smart Antennas and technology installed in order to reduce their insurance premiums. WBA expects that each location would require roughly the same number of units, resulting in revenues to iSIGN of approximately $2.7 million Canadian per site, assuming a three-year contract term at each site and existing exchange rates.
Rich Multimedia Technologies Inc. (“RMT”)
As provided to us by RMT, they are currently finalizing several upgrades to their original Kiosk, as a result of recent initiatives such as Smart Cities; security, including possible facial recognition; and new Toshiba screens, with airport approval required for certain design features. RMT advises that this is not expected to cause additional further delays.
On September 28, 2016, RMT confirmed that 130 of their Kiosks, equipped with Smart Antennas to be delivered from our inventory will be installed in various airports in Mexico and the United States to test messaging and acceptance by mobile devices. These test locations are to be determined. Testing period is to be no longer than a month.
Once this testing period is completed, an initial retrofit of 300 Kiosks in existing North American airports will commence. In addition, an installation of a currently undetermined number of Kiosks integrated with our Smart Antennas and technology will commence in Mexican airports.
RMT and Toshiba are presently in the final stages of designing a new version of the Kiosk, fully integrated with iSIGN’s Smart Antenna as manufactured by RMT’s Kiosk manufacturer in China. These Kiosks will be sold by Toshiba into their distribution channel.
Revenues from RMT’s channel will consist of licensing revenues of $3 US per day per Kiosk. As there is no change in the number of Kiosk installation utilizing our technology, our initial revenue projections of approximately $9.4 million US or approximately $12.4 million Canadian annually from a fully installed network. Note that revenue commences from the installation and broadcasting from each Kiosk. In addition, iSIGN will generate revenue from the sales of its Smart Antenna hardware on the Kiosks retrofitted with Smart Antennas from our inventory, approximately $287,000 Cdn hardware. Projected sales of the new Toshiba Kiosks have not been made available to us. As such, we cannot provide any revenue projections from this channel.
Both WBA’s shopping complex project and RMT’s Kiosks is complex, in that both involve several different partners, each with their own requirements, needs and timetables. The involvement of different partners has added delays to our monetization of both projects.
‘Push Sensor’ Software Project
As of September 29, 2016, we have completed and are in possession of the software that we are currently calling the ‘Push Sensor’ (no process required to deliver messages to android and iPhone mobile device screens in proximity to our Smart Antennas) that was demonstrated to selected resellers in September 2015.
We have commenced the process of preparing for a patent filing and we fully expect that patent pending and eventually patent status will be granted for this new development.
About iSIGN Media
iSIGN Media, based in Toronto, is a data-focused, software-as-a-service (SaaS) company that is a pioneering leader in gathering point-of-sale data and mobile shopper preferences to generate actionable data and reveal valuable consumer insights. Creators of the Smart suite of products, a patented interactive proximity marketing technology, iSIGN enables brands to deliver targeted messaging, personalized offers and loyalty perks to consumers’ mobile devices in proximity and with real-time proof of redemption. iSIGN’s data gathering capabilities provide analytics on price points, typical purchases, in-store dwell time and other shopper metrics that identify emerging consumer behaviors. These insights enable smarter business decisions and provide increased ROI metrics for more transparent marketing. iSIGN delivers relevant, timely messages on an opt-in basis at no charge to consumers, transmitting rich media to consumer mobile devices via Bluetooth® and WiFi connectivity in complete privacy as opposed to iBeacons, apps, downloads and required surrendering of personal information. Proven to increase brand engagement and customer loyalty, iSIGN generates preference-based, predictive “clean data” without compromising consumer privacy. Partners include: IBM, Keyser Retail Solutions, Baylor University, Verizon Wireless, TELUS and AOpen America Inc. www.isignmedia.com
This news release may include certain forward-looking statements that are based upon current expectations, which involve risks and uncertainties associated with iSIGN Media’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 iSIGN Media’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. iSIGN Media 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.
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SOURCE iSIGN Media Corp