Wytec (OTCQB:WYTC) has revealed its intention to uplist to the Nasdaq Capital Markets, a strategic move aimed at accelerating the development and deployment of its AI-based gunshot detection technology. The company’s Pilot Smart Sensor Project, designed to detect active threats such as gunshots within America’s Independent School Districts (ISDs) and cities, has demonstrated over 90% accuracy in gunshot detection based on more than 400,000 live samples and simulated environments.
The uplisting initiative includes an expansion of Wytec’s partnership with the Lemko Corporation under a Master Services Agreement. This collaboration will leverage the collective intellectual property and products of both companies to commercialize and globally offer Smart Sensor solutions. Robert Sanchez, Wytec’s CTO, emphasized the significance of this partnership, stating that Lemko Corporation’s Distributed Mobile Architecture (DMA), protected by over 50 patents, will substantially enhance Wytec’s ability to address the growing gun violence and drug epidemic affecting children and students in U.S. cities and ISD properties.
Wytec’s plans to file its Nasdaq uplisting application in November are expected to provide increased exposure to capital markets and access to a $100 million shelf registration contract with Global Emerging Markets, a $3.5 billion private alternative investment group focused on emerging markets worldwide. This financial backing could significantly boost Wytec’s capacity to develop and deploy its technology on a larger scale.
Brian Ponte, Vice President of Sales and Marketing for Lemko, expressed enthusiasm about the partnership, highlighting the potential impact of their combined efforts in delivering solutions that enhance safety and protect children throughout the United States and abroad. The collaboration between Wytec and Lemko represents a significant step towards addressing critical safety concerns in educational institutions and urban environments.
Wytec’s technology is not limited to gunshot detection. As a 5G network development company, Wytec possesses proprietary, patent and patent-pending AI/sensor technology designed to support drug sensing and distance learning solutions for schools and cities. This multifaceted approach to public safety and education technology positions Wytec at the forefront of innovative solutions for community protection and educational advancement.
The company’s move to uplist to Nasdaq and its partnership with Lemko come at a time when concerns about school safety and urban gun violence are at the forefront of national discourse. By offering advanced AI-based detection systems, Wytec aims to provide a technological solution to these pressing issues, potentially revolutionizing how schools and cities approach threat detection and response.
As Wytec prepares for its Nasdaq uplisting, the company’s focus on developing and deploying cutting-edge AI and sensor technology for public safety applications highlights the growing intersection of technology and security in addressing societal challenges. The success of this initiative could have far-reaching implications for school safety protocols, urban security measures, and the broader field of AI-driven threat detection systems.
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