HS3 Technologies, Inc. (OTCBB: HSTH), a worldwide provider of innovative security solutions, announces the company has signed a new contract with a Florida resort hotel. This second contract is for the upgrade and installation of new RFID door locks throughout the hotel. HS3 Technologies anticipates generating up to $500,000 in hardware related revenue. This new contract is in addition to the most recent security upgrade project of $600,000 with this customer. These two contracts, in addition to the $250,000 per year we expect to generate in recurring video monitoring revenue, will represent a multi-million dollar revenue opportunity with our real estate development customer.
"We are very excited with this additional opportunity. The signing of this contract helps solidify the growth potential with this customer to HS3 Technologies for a long-term relationship," said Robert A. Morrison, President.
"With our continued quality of product and service, we believe this contract will help push HS3 to the next level of revenue opportunities. As we move forward, this project will help represent to the industry our ability to introduce HS3's state-of-the-art integrated product line to other properties," said Mark Lana, CEO.
HS3 has developed proprietary products along with an integrated security solutions portal that bridges the gap between physical security and logical security. This approach has provided a unique security solution that meets the needs of many applications in various industries.
About the Real-Estate Development Company:
The Real-Estate Development Company acquires, owns and operates high-quality hotels, office buildings and mixed-use properties throughout the United States and Europe. They have assisted in the development of more than 80 properties representing over $2.5 billion of asset value compromising 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 any 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.