Ms. Shannon Moore reports

VISIONSTATE CORP. ANNOUNCES BUSINESS UPDATE: EXPANDING REACH AND ENHANCING CAPABILITIES

Visionstate Corp. has provided a comprehensive business update highlighting recent achievements and strategic initiatives.

Wanda updates

British Columbia campus: Visionstate is thrilled to announce that its recent installation in a large B.C. university campus is expanding to its satellite campuses, marking a significant milestone in the company's evolution. This expansion opens new avenues for collaboration and growth, underscoring Visionstate's commitment to supporting educational institutions in optimizing their facility management processes.

National cleaning company: Visionstate is delighted to confirm its inaugural installation with a national cleaning company. This installation sets the stage for future expansion within the cleaning sector, demonstrating the value and effectiveness of the company's solutions in enhancing operational efficiency and customer satisfaction.

Growth in the casino sector: Visionstate is witnessing promising growth opportunities in the casino industry for its Wanda product. As with any facility, tracking cleaning protocols to ensure efficiency is paramount. In casinos, Wanda can not only ensure cleanliness and responsiveness to cleaning alerts, but also receive feedback from the public simply by scanning the Wanda QR (quick response) code. With plans to expand the company's current largest casino partner and install in a new casino next month, Visionstate is strategically positioned to capitalize on the evolving needs of this dynamic sector. This will set the stage for the company's attendance at a large facility management conference in Las Vegas in the fourth quarter of 2024.

Expansion with national building services contractor (BSC): Including campuses outside of B.C., the company's partnership with a national BSC is expanding beyond B.C. campuses, showcasing the scalability and effectiveness of the company's solutions in diverse educational settings. This expansion underscores Visionstate's commitment to delivering tailored facility management solutions that drive operational excellence.

Upcoming installation at large vitamins and supplements manufacturer: Visionstate is gearing up for an installation at a natural remedy company in April, further diversifying the company's client portfolio and extending Visionstate's reach into new markets. This installation reflects the diverse applications for Wanda as the company delivers cutting-edge solutions that meet the unique needs of its clients.

Installation at B.C. Interior mall: The company's upcoming installation at a B.C. Interior mall highlights its continued success in the retail sector. By providing tailored solutions that address the specific challenges faced by retail environments, Visionstate is empowering businesses to optimize their operations and enhance customer experiences.

United States market expansion: Visionstate is pleased to report progress in expanding into the U.S. market. With multiple businesses in the sales funnel at various stages, Visionstate is encouraged by the strong interest and potential growth opportunities across the border. The company seeks to build that market based on the success of large installations in New York and Miami for a global private-equity real estate firm.

Technology developments

Aggressive development of inspection/auditing functionality: Development of the company's inspection and auditing functionality remains a top priority. By expanding these capabilities, Visionstate aims to better serve its clients' evolving needs, and deliver enhanced value through actionable insights and streamlined processes.

Exploring new business categories for Wanda: Visionstate is actively exploring new business categories where its flagship solution, Wanda, can add value. Wanda is a facility management tool designed to track cleaning protocols and measure efficiency in delivering frontline cleaning services. Wanda analytics provides a valuable tool for facility managers to understand how effectively they are delivering services to their clients. It is a subscription-based technology that incorporates a mobile app and Wanda tablets.

Developing AI (artificial intelligence) use cases: Visionstate is enhancing its AI capabilities to maximize its customers' access to actionable insights and digestible information. Through the development of AI use cases, Visionstate empowers its clients to make informed decisions that drive operational efficiency and business success.

Time of flight (ToF) people counters: Visionstate's innovative time of flight, battery-operated, people-counting sensors continue to demonstrate value. Since December, 2023, the company has deployed 35 sensors and has orders for an additional 50 sensors during the next two months. People counters provide valuable insights into cleaning and operational efficiencies. The company anticipates accelerating deployment as it commoditizes production and distribution.

ViCCi 2.0 AI-powered customer service: Visionstate is nearing completion of its new conversational AI application for customer service in physical environments. Developed in partnership with Fluido.ai, ViCCi 2.0 relies on AI to provide a wealth of information about the facility and its services, as well as wayfinding to multiple locations. The technology includes proximity sensors that detect a customer's presence, welcomes them to the facility and offers whatever assistance is required. The new ViCCi 2.0 product adds a new revenue stream to Visionstate. The company intends to market ViCCi 2.0 initially through existing Wanda customers, which include hospitals, shopping centres, Class A buildings, universities and casinos, to name a few. ViCCi 2.0 is able to speak any language.

Business development

Expanding global presence in the United Kingdom: Visionstate is excited to meet with representatives from its global partner, who will be visiting the company's offices to discuss expansion into this large, new market. The global partnership is strengthening Wanda's presence and expanding its reach into international markets.

Confirmed presence at Interior B.C. trade show: The company has confirmed its presence at a key trade show in Interior B.C., focusing on the education sector. This presents an excellent opportunity to showcase the company's solutions and network with industry leaders.

Financing: Visionstate is also pleased to provide an update on its current financing. The company seeks to raise $700,000 to accelerate development and marketing of the Wanda product. Visionstate has so far raised approximately $500,000 and seeks to close the entire offering within the next 30 days.

"We are excited about the progress and achievements outlined in this business update," said Shannon Moore, president of Visionstate IoT Inc. "As we continue to expand our reach, enhance our capabilities and drive innovation, we remain committed to delivering unparalleled value to our clients and stakeholders."

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