TORONTO, ON / ACCESSWIRE / March 16, 2020 / Route1 Inc. (OTCQB:ROIUF) and (TSXV:ROI) (the "Company" or "Route1"), an advanced North American provider of data-centric business empowerment solutions today provided an update on the use of its MobiKEY technology during the COVID-19 outbreak.
Over the last five business days, there has been a significant spike in the demand for MobiKEY enabling devices, particularly Fusion3 devices, and MobiKEY software subscription sales and quote activity for both Department of Defense ("DoD") and certain civilian agencies of the U.S. government as well as financial services companies and banks across North America.
Last week Route1 added 209 paying MobiKEY subscribers and sold 174 MobiKEY Fusion3 devices. Based on purchase orders in hand and funds obligated to purchase, Route1 expects to add more than 500 additional paying MobiKEY subscribers and sell 3,000 additional MobiKEY Fusion3 devices over the next five to seven business days.
The Company has also delivered many additional quotes to our DoD client base. Some of these quotes were for 5 to 10 users and/or enabling devices, while others were for user counts and/or enabling devices in the thousands. The ability to execute on the larger quotes that include MobiKEY Fusion3 devices is based on the client accepting a 12 to 16-week shipping timetable for the MobiKEY Fusion3 devices. The current COVID-19 outbreak has and likely will continue to extend the shipping timetable for MobiKEY Fusion3 devices beyond the traditional 8 to 12-week period.
Route1 expects to make a further order for 5,000 MobiKEY Fusion3 devices early next week, however this number could grow based on quick responses from clients.
MobiKEY
Route1 provides a best-in-class "work from home", "mobility" or "teleworking" technology called MobiKEY (www.route1.com/mobikey/). MobiKEY is the un-VPN, it is a secure remote access solution that delivers your trusted desktop through the cloud. It is important to note that the Company has not adjusted its sales and marketing program to sell into the COVID-19 health issue on the basis of "fear" or "tragedy". Further, the most effective time to implement a work from home strategy is not during a crisis. That being said, Route1 has been very active in helping our clients, partners and communities.
Route1 Inc., also operating under the tradenames GroupMobile and PCS Mobile is an advanced North American technology company that empowers their clients with data-centric solutions necessary to drive greater profitability, improve operational efficiency and gain sustainable competitive advantages, while always emphasizing a strong cybersecurity and information assurance posture. Route1 delivers exceptional client outcomes through real-time secure delivery of actionable intelligence to decision makers, whether it be in a manufacturing plant, in-theater or in a university parking lot. Route1 is listed on the OTCQB in the United States under the symbol ROIUF and in Canada on the TSX Venture Exchange under the symbol ROI. For more information, visit: www.route1.com.
For More Information, Contact:
Tony Busseri
Chief Executive Officer
+1 416 509 1496
tony.busseri@route1.com
This news release, required by applicable Canadian laws, does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
© 2020 Route1 Inc. All rights reserved. No part of this document may be reproduced, transmitted or otherwise used in whole or in part or by any means without prior written consent of Route1 Inc. See https://www.route1.com/terms-of-use/ for notice of Route1's intellectual property.
This news release may contain statements that are not current or historical factual statements that may constitute forward-looking statements. These statements are based on certain factors and assumptions, including, price and liquidity of the common shares, expected financial performance, business prospects, technological developments, and development activities and like matters. While Route1 considers these factors and assumptions to be reasonable, based on information currently available, they may prove to be incorrect. These statements involve risks and uncertainties, including but not limited to the risk factors described in reporting documents filed by the Company. Actual results could differ materially from those projected as a result of these and other risks and should not be relied upon as a prediction of future events. The Company undertakes no obligation to update any forward-looking statement to reflect events or circumstances after the date on which such statement is made, or to reflect the occurrence of unanticipated events, except as required by law. Estimates used in this presentation are from Company sources. Past performance is not guarantee of future performance and readers should not rely on historical results as an indication of future results.
SOURCE: Route1 Inc.
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