NEW YORK, July 27, 2015 /PRNewswire/ -- Good Vibrations Shoes, Inc. (OTCPink: GVSI) today announced that Vindai Corporation has acquired the company. Vindai specializes in developing and supplying equipment, including body cameras, to law enforcement, military, and large private security firms in order to protect citizens from the officer brutality, and abuse of power that seems to be sweeping the nation.
Under the new business, the company will focus on the fulfillment of government and large commercial contracts to expand its market share, and more aggressively move forward with several new patentable technologies that Vindai says will completely change several industries, including law enforcement, forever. The company's new experimental technologies could represent over a dozen new patents, and the company points out that many of the new, top-secret projects have a wide variety of applications such as extending mobile device battery life to 48 hours or more, and allowing them to be charged in 30 seconds or less. In developing solutions for the problems that wearable body cameras face, the company has identified several other applications for its new technology. Once perfected, these advances can help to make Vindai Corporation a leader in several multi-billion dollar industries, including the body camera industry, which the company feels is on the verge of immense growth.
As part of the resulting restructuring, former CEO, Dr. Richard Koenig, and the rest of the Good Vibrations Board of Directors have resigned, and have been replaced by an interim CEO, who will oversee the transition of Vindai's business model to Good Vibrations Shoes. Although the transition of business and personnel could take a while to complete, it will not affect operations in the least, and Good Vibrations will immediately file for a name change to Vindai Corporation, to avoid confusion. The company's second priority will be preparing audited financials and filing a Form-10 to become fully reporting, noting that the company does not intend to stay on the Pink Sheets for very long.
The abuse of power by law enforcement has become a tremendous problem in the United States, and is plastered all over mainstream media with cases like that of Michael Brown and Eric Garner, who both died at the hands of police due to what is being referred to as police brutality. Many feel that if all officers wore cameras, those police officers breaking the law would easily be brought to justice. President Barack Obama has even put forth a proposal, that along with state funds, represents $526 million dollars, and that could be just a tiny portion of the market that exists. Vindai Corporation plans to aggressively bid on these contracts, and the company feels that by leveraging existing relationships, government resources, and newly developed proprietary technology, it can become the number one supplier of body cameras and similar technology to police, military, corrections, and private security on a global scale.
ABOUT GOOD VIBRATIONS SHOES
Good Vibrations Shoes operates a wholly owned subsidiary business called Vindai, which focuses on fulfillment of government contracts in the areas of law enforcement, military, and corrections, as well as corporate contracts in private security and other areas. The company's goal is to dominate the fast growing, wearable body camera industry expected to grow to several billion dollars per year.
This Release may contain forward-looking statements within the meaning of the Private Securities Ligation Reform Act of 1995. The Company has tried, whenever possible, to identify these forward-looking statements using words such as "anticipates," "believes," "estimates," "expects," "plans," "intends," "potential," and similar expressions. These statements reflect what the Company currently believes and are based upon information currently available. Accordingly, such forward-looking statements involve known and unknown risks, uncertainties and other factors which could cause the Company's actual results, to differ materially from those expressed in or implied by such statements. The Company undertakes no obligation to update or advise in the event of any change, addition or alteration to the information provided in this Press Release including such forward-looking statements.
SOURCE Good Vibrations Shoes, Inc.