Wytec Announces Response to RFP With the North Texas Council of Governments in Providing Gunshot Detection for 1,207 Texas ISDs

Rhea-AI Summary

Wytec (OTCQB:WYTC) has responded to a Request for Proposal from the North Texas Council of Governments (NCTCOG) to provide gunshot detection solutions. The company proposed its patent-pending AI Gunshot Detection System, which has demonstrated over 90% accuracy across 500,000 samples. The system includes advanced drug sensor technology for detecting dangerous chemicals, including Fentanyl. Wytec is filing an S-1 Registration for Nasdaq uplisting, securing $7M in immediate capital and access to $100M in future funding through Global Emerging Markets. The company has partnered with Lemko , leveraging their combined 50+ patents in software-defined architectures.

Positive

• Secured acceptance of RFP response from NCTCOG for 1,207 Texas ISDs
• System demonstrates >90% gunshot detection accuracy across 500,000 samples
• Secured $7M immediate capital and access to $100M future funding
• Strategic partnership with Lemko adding 50+ patents
• Planned uplisting to Nasdaq Capital Markets

Negative

• Potential shareholder dilution from $100M Stock Subscription Facility
• Pending S-1 Registration approval creates regulatory uncertainty

News Market Reaction – WYTC

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-8.57% News Effect

On the day this news was published, WYTC declined 8.57%, reflecting a notable negative market reaction.

Data tracked by StockTitan Argus on the day of publication.

SAN ANTONIO, Nov. 12, 2024 (GLOBE NEWSWIRE) -- Wytec (OTCQB:WYTC) has announced today that it has submitted a response (with acceptance) to a Request for Proposal (RFP) from the North Texas Council of Governments (NCTCOG) seeking experienced and qualified vendors to provide gunshot detection solutions in light of the frequency of shooter incidents.  These solutions and services will become essential to security infrastructure for schools & colleges, transit authorities, hospitals, water districts, and cities & towns. The NCTCOG announced that the solutions will be promoted via its TXShare Cooperative Purchasing Program.

In response to the RFP, Wytec proposed its patent-pending AI Gunshot Detection System which includes additional pending patents introducing advanced drug sensor technology for detecting dangerous chemicals including the most recent Fentanyl epidemic killing thousands of young people across America. Wytec’s AI-based sensor technology has produced a better than 90% gunshot detection accuracy on over 500,000 live samples and simulated environments.

Wytec is in the process of filing an S-1 Registration in conjunction with an uplisting to the Nasdaq Capital Markets. Its SEC S-1 registration includes $7M in immediate capital and access to an additional $100M in future funding via its Stock Subscription Facility (SSF) with Global Emerging Markets, a $3.5 Billion private alternative investment group focused on emerging markets around the world. The uplisting to Nasdaq includes  Wytec’s expanding partnership with the Lemko Corporation under a Master Services Agreement utilizing their collective intellectual property of more than 50 patents related to software-defined architectures.  “The Lemko Corporation will dramatically enhance Wytec’s wireless expansion objective to assist in solving America’s growing gun violence and drug epidemic injuring our children and students within U.S. cities and on ISD properties,” states Wytec’s CTO, Robert Sanchez.

“We are honored and extremely excited to be partnering with Wytec to deliver such an important capability for our schools and communities,” explained Brian Ponte, Vice President – Sales and Marketing for Lemko. “Our combined efforts will deliver a solution that significantly improves safety and protects our children throughout the U.S. and abroad.”

About Wytec

Wytec is a 5G network development company with proprietary, patent, and patent-pending AI/sensor technology designed to support gunshot detection, drug sensing technology for public safety, and distance learning solutions for schools and cities. For further information about Wytec International (OTCQB:WYTC), please visit www.wytecintl.com or follow us on social media via X (Twitter) or LinkedIn.

About Lemko

Lemko Corporation’s patented Distributed Mobile Architecture (DMA) provides the world’s leading fully-edged, capable mobile network platform. Our mission is to provide simple and resilient 4G/5G wireless networks for use in Industrial IoT applications, private 4G/5G networks, wireless rural broadband systems, and military and public safety deployments. Lemko’s DMA systems are designed to be more reliable, survivable, and portable than conventional 4G/5G systems. Lemko is based in Schaumburg, Illinois. To learn more about Lemko, visit www.lemkocorp.com or follow us at www.linkedin.com/company/lemko

Contact:
Erica Perez
eperez@wytecintl.com

FAQ

What accuracy rate does Wytec's (WYTC) AI Gunshot Detection System achieve?

Wytec's AI-based sensor technology has demonstrated better than 90% gunshot detection accuracy based on over 500,000 live samples and simulated environments.

How much funding has Wytec (WYTC) secured through Global Emerging Markets?

Wytec has secured $7M in immediate capital and access to an additional $100M in future funding through a Stock Subscription Facility with Global Emerging Markets.

How many Texas ISDs are covered in Wytec's (WYTC) NCTCOG proposal?

Wytec's proposal to the North Texas Council of Governments (NCTCOG) covers 1,207 Texas Independent School Districts (ISDs).

What additional detection capabilities does Wytec's (WYTC) system include?

Wytec's system includes advanced drug sensor technology for detecting dangerous chemicals, including Fentanyl.