HS3 Technologies, Inc. (OTCBB: HSTH), a worldwide provider of innovative security solutions is pleased to announce the signing of a contract for the first phase of a four-phase project with a multi-national real estate development company to install new security devices, upgrade existing security devices and to add access control points to a Florida resort with over 750 rooms. With the completion of all phases, HS3 Technologies expects to generate more than $600,000 in equipment and services revenues. In addition, we anticipate generating up to $250,000 per year in recurring video monitoring revenue. The recurring revenue will be generated through the HS3 single point integrated security solutions portal, where HS3 Technologies combines proprietary analytical software, network security, remote video monitoring, and video alarm verification products. The resort is also considering the upgrade and installation of new biometric and RFID door locks offered by HS3. This contract represents only a fraction of the overall revenue potential with this customer as well as the multi-billion dollar hospitality industry.
"This project is the culmination of 12 months of intense dialogue between the two companies. We are very excited to have the opportunity to provide our superior products to this real estate development company and to showcase many of the advances HS3 Technologies has created within the security technology industry," said Robert A. Morrison, President of HS3 Technologies, Inc.
"The signing of this project represents a team effort of the dedicated professionals committed to HS3 Technologies' vision for sustained success. We believe this is a great opportunity for HS3. Once we have demonstrated our technology at this property, we have the potential to provide our matrix of integrated products to other properties requiring security installations and monitoring opportunities that are within the development company's control," said Mark Lana, CEO.
Building from our knowledge of the systems that are lacking within the security industry, HS3 has developed proprietary products that bridge the gap between physical security and logical security. This approach has provided the unique security solution HS3 Technologies is able to offer. We offer nationally, an integrated security solutions portal that combines both physical and logical security with remote monitoring into a total service package.
About the Real Estate Development Company:
The Development Company acquires, owns and operates high quality hotels, office buildings and mixed-use properties throughout the United States and Europe. They have been involved in more than 80 properties representing over $2.5 billion of asset value comprising more than 3,300 hotel rooms and 11 million square feet of office space.
About HS3 Technologies, Inc.
HS3 Technologies, Inc. (HS3) is a national provider of innovative security solutions headquartered in Denver, Colorado. HS3 provides technologies and services through a national authorized dealer and distribution program. Utilizing independent sales professionals, national distribution and local dealers, HS3 offers custom security solutions for commercial, residential, government and military applications. These state-of-the-art products include digital video recording technology (DVR), biometric access control (door locks), personal biometric identification units, CCTV, video monitoring centers, cellular networks, wireless mesh networks units and wireless internet-linked satellite surveillance systems. HS3 Technologies is bringing together technologies, services and people to fulfill the increasing global security needs of today and tomorrow.
Forward-Looking Statement Disclaimer
This news release contains "forward-looking statements," as that term is defined in Section 27A of the United States Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Statements in this press release that are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future. Such forward-looking statements include, among other things, the completion of installation at a hotel in Florida, the amount of revenue, if any, that may be generated from any installation or any recurring monitoring revenue, or the completion of any additional phases of the project as contemplated by the contract.
Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, the inherent uncertainties associated with the development of an early stage technology company and its products and the entry into new markets for our products and services. These forward-looking statements are made as of the date of this news release, and the company assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although we believe that the beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that such beliefs, plans, expectations or intentions will prove to be accurate. Investors should consult all of the information set forth herein and should also refer to the risk factors disclosure outlined in our recent current reports on Form 8-K, our annual report on Form 10-KSB, our quarterly reports on Form 10-QSB and other periodic and current reports filed from time-to-time with the Securities and Exchange Commission.
HS3 Technologies, Inc.