Contract covers installation of 500 Smart Antennas into first Shopping Complex; Minimum Revenue to iSIGN of $2.7 million Canadian
TORONTO, Aug. 26, 2016 /PRNewswire/ - iSIGN Media Solutions Inc. ("iSIGN" or "Company") (TSX-V: ISD) (OTC: ISDSF), a leading provider of interactive mobile advertising solutions that serves brands, commercial locations, retailers and service providers throughout North America is pleased to announce the signing of a contract between their reseller We Build Apps, LLC ("WBA"), and a major shopping complex for 500 Smart Antennas on August 19, 2016.
The Smart Antennas are being provisioned and prepared for shipment and the ancillary cables and power injectors have been ordered. Shipment to WBA is expected to be completed within fifteen (15) days.
iSIGN revenues generated by 500 unit order consist immediately of two parts – (i) the sale of the hardware and (ii) the monthly fees charged for broadcasting and data management. The sale of the Smart Antennas and ancillary items will generate immediate revenues of approximately $390,000 Cdn, while the broadcasting and data management fees will generate monthly revenues of approximately $65,000 Cdn from date of installation for three (3) years, based on current exchange rates. Revenue to iSIGN from this installation of 500 Smart Antennas is a minimum of $2,700,000 Cdn.
The companies who will be handling the electrical and Smart Antenna installations are in place with multiple crews available to ensure that installations are handled expeditiously. WBA's anticipated date for completion of installation into the shopping complex is sometime in October 2016.
"We are very pleased to announce the closing of this contract," said Mr. Rodney Colley, Chief Executive Officer of WBA. "Our dealings were originally for the use of iSIGN's technology for advertising purposes on 100 Smart Antennas, however, once it became apparent that iSIGN's technology and Smart Antennas could deliver messaging in cases of emergencies, the shopping complex' insurance company designated iSIGN's technology and hardware as a security and safety device, resulting in a reduction in the complex' annual insurance premiums. This designation lengthened the overall approval process by adding additional levels of review to the process. It is worth noting that as the complex expands, additional Smart Antennas will be required to ensure full broadcasting coverage and continued saving on their insurance premiums."
"However, while the involvement of the complex' insurance company extended the delivery time for a signed contract, it also resulted in a larger order," added Mr. Colley. "In addition, we have gained very valuable experience from this entire process that we will be able to use with other prospective clients and we believe this will reduce the time frame for closing future sales of iSIGN's technology and hardware."
The shopping complex, one of 16 properties managed by their management company, is an approximately 78 acre complex that includes retail outlets, restaurants, outdoor concert venues, residential apartments and office buildings, with an annual visitor count of approximately 18 million people.
"Our next step will be presentations to the management company's other properties," added Mr. Colley. "With the insurance premium savings from iSIGN's system having been deemed a security and safety system, our expectation is that we will be installing into all of their properties."
Additional information concerning all partners will be released shortly.
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
About We Build Apps
We Build Apps, backed and supported by MSNET Corp, is a data-focused, SaaS company based in Cleveland, Ohio. WBA will provide a large area interactive mobile messaging and data capturing solution to foster an engaged Smartphone and mobile device network, in addition to the design of premier apps, to develop effective digital marketing strategies. www.webuildappsllc.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