omniQ Receives Order for AI-Based “Visual Cortex” Software for Safe City, Transportation Management and Data Collection

  • The “Visual Cortex”¹ Software Imitates the Human Eyes and Brain and is Capable of Detecting, Analyzing and Recognizing Patterns
  • Order Marks omniQ’s Entrance into Brazil
  • Recurring Annual Orders are Expected to Follow

EUGENE, Ore., November 15, 2018 (GLOBE NEWSWIRE) — omniQ, Inc. (omniQ) (“Quest” or “the Company”) a provider of Supply Chain and Artificial Intelligence (AI)-based solutions, today announced it has received an order for its AI-based “Visual Cortex” software package, developed to support traffic management, law enforcement, citations and monitoring.

The $220,000 order will initially supply hundreds of software packages for use by a leading integrator in Brazil.  omniQ anticipates recurring annual follow-on orders for the next 10 years.

Shai Lustgarten, CEO of omniQ, commented: “We are delighted to announce our “Visual Cortex” software package with unique capabilities that we believe will enable us to drive sales and increase margins with minimum expense. The algorithm for this software, developed by scientists of our recently acquired subsidiary, is recognized worldwide for its accuracy and reliability. As we’ve mentioned previously, we are focused on increasing our software and services sales in order to generate revenue growth and higher margins, and we believe that during 2019 we will see significant contributions from this part of the business.”

Mr. Lustgarten added: “Brazil, with its more than 200 million citizens, is the fifth largest country in the world and the largest South American Economy, representing a promising new market for omniQ. We already work with a top local integrator and look forward to increasing our sales and generating recurring orders.”

“We plan to leverage our unique technologies and strong Fortune 500 customer base to grow our market share by offering innovative solutions integrating our AI technology with omniQ legacy products,” Mr. Lustgarten concluded.

About omniQ

omniQ is a Specialty Systems Integrator focused on Field and Supply Chain Mobility. We are also a manufacturer and distributor of consumables (labels, tags, and ribbons), RFID solutions, and barcoding printers. Founded in 1994, omniQ is headquartered in Eugene, Oregon, with offices in the United States.

Rated in the Top 1% of global solution providers, omniQ specializes in the design, deployment and management of enterprise mobility solutions including Automatic Identification and Data Capture (AIDC), Mobile Cloud Analytics, RFID (Radio Frequency Identification), and proprietary Mobility software. Our mobility products and services offering is designed to identify, track, trace, share and connect data to enterprise systems such as CRM or ERP solutions. Our customers are leading Fortune 500 companies from several sectors including manufacturing, retail, distribution, food / beverage, transportation and logistics, health care and chemicals / gas / oil.

Information about Forward-Looking Statements

“Safe Harbor” Statement under the Private Securities Litigation Reform Act of 1995. Statements in this press release relating to plans, strategies, economic performance and trends, projections of results of specific activities or investments, and other statements that are not descriptions of historical facts may be forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. This release contains “forward-looking statements” that include information relating to future events and future financial and operating performance. The words “may,” “would,” “will,” “expect,” “estimate,” “can,” “believe,” “potential” and similar expressions and variations thereof are intended to identify forward-looking statements. Forward-looking statements should not be read as a guarantee of future performance or results, and will not necessarily be accurate indications of the times at, or by, which that performance or those results will be achieved. Forward-looking statements are based on information available at the time they are made and/or management’s good faith belief as of that time with respect to future events, and are subject to risks and uncertainties that could cause actual performance or results to differ materially from those expressed in or suggested by the forward-looking statements. Important factors that could cause these differences include, but are not limited to: fluctuations in demand for omniQ, Inc.’s products, the introduction of new products, the Company’s ability to maintain customer and strategic business relationships, the impact of competitive products and pricing, growth in targeted markets, the adequacy of the Company’s liquidity and financial strength to support its growth, the Company’s ability to manage credit and debt structures from vendors, debt holders and secured lenders, the Company’s ability to successfully integrate its acquisitions, risks related to the sale of omniQ Inc. to Viascan Group Inc. and other information that may be detailed from time-to-time in omniQ Inc.’s filings with the United States Securities and Exchange Commission. Examples of such forward looking statements in this release include, among others, statements regarding revenue growth, driving sales, operational and financial initiatives, cost reduction and profitability, and simplification of operations. For a more detailed description of the risk factors and uncertainties affecting omniQ, Inc. please refer to the Company’s recent Securities and Exchange Commission filings, which are available at omniQ, Inc. undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, unless otherwise required by law.

  • Visual Cortex: The visual cortex of the brain is a part of the cerebral cortex that processes visual information

Investor Contact:
John Nesbett/Jen Belodeau
IMS Investor Relations

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