Good news came today from VSBLTY Groupe Technologies Corp. (CSE:VSBY) (OTCPK:VSBGF), as the company announced it closed a convertible debenture offering for $745,500 in gross proceeds.
The debenture, which is payable 24 months after the issuance of the proceeds on July 18, 2019, bears 10 percent yearly interest on an accrual basis and is payable twice a year. Together with any unpaid interest, the debenture may be converted into units of VSBLTY. If converted within the first year of the issuance, the units will be priced at $0.045 each. If converted in the second year, the units will be $0.60. Each unit is comprised of one common share and one half share purchase warrant in the company.
There is a statutory hold period for the debentures, which will end on November 19. VSBLTY has also announced that it will not proceed with the unit offering it previously announced on May 8, 2019.
VSBLTY Tech Provides Actionable Insights
VSBLTY’s goal is to transform retail spaces with its Software-as-a-Service audience measurement and security software. This software employs artificial intelligence and machine learning to continually improve and refine itself after launch.
Utilizing Edge or cloud-enabled digital display solutions, VSBLTY’s VisionCaptor Content Management System provides retailers with key information about their clients, including age, gender, identity, and even sentiment measurements. A comprehensive customer experience is created in real-time through digital assets like videos, photos, and multimedia content. These assets allow retailers to enhance that customer experience with proximity-aware, interactive brand messaging based on VisionCaptor’s insights.
In addition to retail, VSBLTY is also enhancing security through its VSBLTY Vector software module. In just milliseconds, VSBLTY Vector can identify one or hundreds of individuals by themselves or in a crowd. It can provide critical facial recognition as well as object recognition to pinpoint everything from persons of interests to the weapons they carry.
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The software accomplishes this via industry-leading computer vision and machine learning technology. It can interface with almost any IP camera on the market, and due to the fact that the technology is built into screens, it offers a much clearer and more insightful image of customers and event attendees than traditional overhead camera systems.
Both products can be implemented in a wide range of venues, including transit hubs, markets, sports, and entertainment arenas, and anywhere that retail or security solutions are needed.
VSBLTY Tech’s International Deployments
The company’s software has been deployed through partnership agreements with major Fortune 50 companies and has already begun producing revenue. In South Africa and Australia, VSBLTY’s superior computer vision tech is being added to vending machines and coolers to provide beverage companies with insight into their customers.
VSBLTY is about to deploy its tech on a massive scale in an as-of-yet unidentified Latin American country.
Last month, VSBLTY co-founder and CEO Jay Hutton reported that the company has been “working hard to lead the way in deploying software in various activations that are monumental in the effect they have on driving innovation in both the retail and security worlds.”
VSBLTY’s Future
Headquartered in Philadelphia, VSBLTY is already a world leader in proactive digital display and is poised to corner the market on facial recognition technology. The proceeds from its non-brokered private placement offering of convertible debenture will be used for both general corporate purposes and for some upcoming acquisitions.
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