Internet of Things Inc (TSXV: ITT) this morning released to the market that it has launched the pre-sale program for ThermalPass. ThermalPass is the firms AI-enabled, thermal sensor temperature screening system which is being deployed as a means of fighting the ongoing coronavirus pandemic.
With the launch of the pre-sales program, the company is able to ramp up its sales and marketing campaigns following extensive testing of the product. Commercialization follows high early demand exhibited for ThermalPass, with ITT identifying that more than one hundred unsolicited inquiries were received by the company over the last three weeks.
The company also announced that it has completed its first product sale, for a figure yet to be released. Groundwork has occurred for an initial production run of a thousand units, with deliveries expected to commence next month.
The defining sales angle for ThermalPass when compared to its competitors within the space, is that the company offers the distinct advantage of utilizing thermal sensors rather than camera-based solutions. This difference enables the company to be able to offer a privacy-focused offering to the market, without concerns related to personal privacy due to no actual images being analyzed. Thermal sensors are also more accurate, with ThermalPass’ sensors being medical grade and capable of taking 20 temp readings a second.
The global thermal scanner market, as per a report by Report Linker, is anticipated to grow to US$6.7 billion by 2025 as a result of the ongoing pandemic.
Internet of Things Inc last traded at $0.055 on the TSX Venture.
FULL DISCLOSURE: Internet of Things Inc is a client of Canacom Group, the parent company of The Deep Dive. The company has been compensated to cover Internet of Things Inc on The Deep Dive, with The Deep Dive having full editorial control. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security.
Hyperinflation: Remember, GDP = Money Supply x Velocity
When trying to wrap my head around economics, I like to simplify basic principles down...