Voti Detection Sees Positive Momentum in Order Flow
July 27, 2020
Recent Repeat & New Orders Important Positive Signal for Return to More Normal Levels of Order Flow MONTREAL, July 27, 2020 /CNW/ - VOTI Detection Inc. ("VOTI" or "the Company") (TSXV: VOTI), a...
Recent Repeat & New Orders Important Positive Signal for Return to More Normal Levels of Order Flow
MONTREAL, July 27, 2020 /CNW/ - VOTI Detection Inc. ("VOTI" or "the Company") (TSXV: VOTI), a leading-edge Canadian technology company that develops latest-generation X-ray security systems based on 3D Perspective™ technology, updated the market on recent new and repeat orders received. These orders represent a positive swing in the company's order flow momentum and are the first signal that the company is on track to return to more normal levels of activity over the next twelve months.
VOTI recently delivered 18 units to Port Canaveral for a repeat order from Carnival Cruise Line. The 18 units will be used for Carnival's newest and largest ship, Mardi Gras. Through VOTI's partnership with X-Ray Imaging in the U.S., VOTI has received orders from multiple county sheriff departments including a repeat order for 12 units from a single county as they push to update their entire X-Ray fleet with VOTI technology. In addition, VOTI recently delivered scanners to NRG Stadium, home of the Houston Texans. With this order, there are now twenty professional sports teams currently using VOTI X-Ray scanners at their stadiums.
"The positive momentum that we are starting to see in our order flow is obviously very welcome news," commented Rory Olson, President and CEO of VOTI Detection, "All three orders mentioned above are with important customers in critical sectors of our business model. Although the market continues to be unpredictable at this time, we hope that these orders are a sign of continued positive momentum to come. As I mentioned last month, we expect to see a steadier improvement in orders for delivery beginning in the fourth quarter of this current year, with a return to normal delivery rates into 2021."
About VOTI Detection
VOTI Detection, headquartered in Montreal, Quebec, and listed on the TSX Venture Exchange, is a leading-edge Canadian technology company that develops latest-generation X-ray security systems based on 3D Perspective™ technology. VOTI's technology produces remarkably sharp and more revealing X-ray images that are competitively superior while delivering enhanced threat detection capabilities and an improved user experience. Since its inception, VOTI has installed scanners in more than 50 countries and has consulted heavily with government agencies and security specialists worldwide to develop feature-rich and easy-to-use scanners that meet the sophisticated needs of modern security screening operations. www.votidetection.com
Notice regarding forward-looking statements:
This release includes forward-looking information within the meaning of Canadian securities laws regarding VOTI Detection and its business. Often, but not always, forward-looking information can be identified by the use of words such as "plans", "is expected", "expects", "scheduled", "intends", "contemplates", "anticipates", "believes", "proposes" or variations (including negative variations) of such words and phrases, or state that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved. Such statements are based on the current expectations of the management of VOTI Detection, and are based on assumptions and subject to risks and uncertainties. Although the management of VOTI Detection believes that the assumptions underlying these statements are reasonable, they may prove to be incorrect. The forward-looking events and circumstances discussed in this release may not occur by certain specified dates or at all and could differ materially as a result of known and unknown risk factors and uncertainties affecting the company, including risks regarding the threat detection technology industry, failure to obtain regulatory approvals, economic factors, management's ability to manage and to operate the business of VOTI Detection, the equity markets generally and risks associated with growth and competition. Although VOTI Detection has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results to differ from those anticipated, estimated or intended. Accordingly, readers should not place undue reliance on any forward-looking statements or information. No forward-looking statement can be guaranteed. Except as required by applicable securities laws, forward-looking statements speak only as of the date on which they are made and VOTI Detection does not undertake any obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events, or otherwise. In addition, the current situation and future developments with respect to the COVID-19 pandemic could cause certain of the assumptions and information set forth herein or the fact that on which such assumptions are based to differ materially from previous expectations including in respect of demand for our products, supply chain and availability of materials, mobility and shipping of materials and or products, access to debt and equity capital and other factors.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
SOURCE VOTI Detection Inc.