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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.”