VSBLTY Groupe Technologies Corp., a leading software provider of AI-driven security and retail analytics technology, today announced it has partnered with urban technology company NGDI, whose distinctive Outdoor -Hubs connect cities, citizens, and businesses by providing connectivity, information and promotion, and security in key high-density locations such as transit centers through its unique Smart City solution platform.
All three of VSBLTY’s advanced proprietary technology solutions are included in the platform. VSBLTY technology offers improved customer retention and audience measurement using machine learning and computer vision. Industry-leading VisionCaptor™ and DataCaptor™ software combines animated graphics and interactive brand messages with state-of-the-art computer vision measurements and insights. VSBLTY’s AI-driven Vector™ software provides nanosecond-enhanced facial recognition, which is critical to bolstering today’s security needs for detecting weapons or suspects in a crowd.
Jay Hutton, Co-Founder and CEO of VSBLTY said, “We are particularly excited to partner with NGDI, who, like us, is a long-standing partner in the Intel® ecosystem. Together we are working to begin two deployments by the end of the year.” He said the deployments are planned at two international locations in Asia and the Middle East.
Hutton also pointed out that “According to Grand View Research, the global smart city market size was estimated at US$1,226.9 billion in 2022 and is projected to register a compound annual growth rate (CAGR) of 25.8% from 2023 to 2030. “
Arthur Van De Poll, CEO of NGDI added: “VSBLTY’s advanced and comprehensive technology has enhanced our unique platform, which enables us to be a smart city hub, acting as a single rich source of information and community services, needed by cities, people, and trading companies.”
NGDI’s suite of hubs, bolstered by state-of-the-art VSBLTY technology, helps fund citywide security through branded advertising on its giant screens. Security features include cameras allowing local authorities to monitor public spaces, a microphone for two-way communication with emergency services, monitoring of air quality and UV levels, and public service announcements over speakers and on its screens.
In addition to security, the aesthetically striking hubs also offer communication and mobility. The multifunctional and interactive platform hosts all physical, online, and mobile communication, including up-to-date, visual, and interactive information for citizens and visitors. 32-inch touchscreens allow users to learn more about local attractions, entertainment, and nearby shops for local purchases to be delivered. The hubs also offer maps, real-time bus schedules, weather reports, local news, school information, and even job listings. The hubs deliver intelligent applications for mobility such as parking and charging solutions, bike rental, and public transport, as well as IoT sensors to enable IoT-based applications.
The all-encompassing kiosks, utilizing VSBLTY technology, provide local businesses with advanced, real-time analytics using computer vision and audience measurement that includes dwell time, impressions, percentage of screen views, and content engagement.
VSBLTY has granted an aggregate of 5,606,000 stock options (“Options”) to certain directors, officers, consultants, and employees of the Company pursuant to the Company’s stock option plan, permitting them to purchase an equal number of common shares in the Company’s capital. All options are exercisable for a period of 5 years at a price of $0.25 CAD. The exercise price for the options corresponds to a premium of 85% over the current market price. 3,825,000 of the options vest immediately and 1,781,000 options vest at 33.3% after 12 months from the date of grant and at an additional 33.3% every 12 months thereafter. 2,820,000 $0.30 CAD options expired in February 2023. As these options are considered surrogates, the Company is also in the process of canceling options previously granted to employees.
The Company believes that equity compensation is the best way to incentivize directors, officers, employees, and consultants of the Company to increase their ownership interest in the Company, encourage them to remain associated with the Company, and provide additional incentives To provide efforts on behalf of and for the Company to conserve cash needed for the development of the Company’s business.
VSBLTY also announced today that Chief Financial Officer Mitch Codkind will be leaving the company to pursue other interests but will remain in an advisory role to ensure a seamless transition and completion of the 2022 exam. During the transition, Thomas D. Hays, III, who has served on the Board for more than five years, will assume this role.
