Wytec International Announces $10M Private Offering to Fund AI Gunshot Detection Technology and Nasdaq Uplisting
TL;DR
Investors can gain advantage from Wytec's AI Gunshot/Sensor technology in support of public safety and school security.
Wytec's AI/Sensor technology uses patented small cell IP and AI/ML software solutions to detect gunshots and harmful drugs.
Wytec's technology aims to protect America's children from increased shooter violence and detect harmful drugs infiltrating U.S. schools.
Wytec's AI Gunshot/Sensor technology has produced an 86% true positive accuracy for gunshots and a 94% true negative accuracy for non-gunshots.
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Wytec International, Inc. (OTCQB: WYTC) has announced the launch of a $10 million private offering to fund its AI-based gunshot and sensor detection technology. The 9.5% Convertible Secured Note Offering, filed under SEC 506(c), aims to finalize the development of technology designed to protect school children from shooter violence and to detect harmful drugs in Independent School Districts (ISDs) across the U.S. and internationally.
The technology has shown promising initial lab results, with an 86% true positive accuracy for gunshot detection and a 94% true negative accuracy for non-gunshot detection in real-world environments. This high level of accuracy underscores the potential effectiveness of the technology in enhancing school safety.
Wytec owns patented small cell intellectual property that incorporates smart sensors and AI/ML software solutions. These technologies are part of new provisional patents awaiting approval from the United States Patent & Trademark Office (USPTO). The company has engaged Denton Law to complete its patent applications, further solidifying its technological and legal standing.
The funds from the 9.5% Note Program will also support Wytec's efforts to uplist to the Nasdaq Capital Markets, signaling a significant step in the company’s growth and credibility. The offering is available exclusively to accredited investors and can be viewed on the Wytec Secure Note Offering page.
This announcement is crucial as it highlights Wytec's innovative approach to addressing pressing issues like school safety and drug detection. The successful implementation of this technology could set new standards for safety in educational institutions, both in the U.S. and internationally. Additionally, the move to uplist to the Nasdaq Capital Markets could provide Wytec with increased visibility and access to capital, further driving its growth and development efforts.
Curated from NewMediaWire
