DALLAS, Sept. 12, 2016 /PRNewswire/ -- COPsync, Inc. (NASDAQ: COYN), provides the following corporate update and strategy discussion, which will be included in its presentation at the 18th Annual Rodman & Renshaw Global Investment Conference, on Tuesday, September 13, 2016, the details of which appear below. The COPsync Network™ has been used to rescue kidnapped children, protect school children and their teachers from imminent danger, and save the lives of law enforcement officers and help them keep the public safer.
Company Business Update and Strategy
CEO Comments
Mr. Ronald A. Woessner, CEO of COPsync commented, "One of the most significant accomplishments for the Company thus far this year is having two of the largest Texas law enforcement agencies agree to evaluate the Company's life-saving COPsync Network. As we move into the last month of Q3, our team is working aggressively to add new agencies to the COPsync Network and schools and other facilities to the COPsync911 threat-alert system platform. These customers over time are expected to create an ever-increasing stream of recurring cash flow and recurring revenues."
He continued, "In 2016 we have made substantial cash investments in our people infrastructure and our technical infrastructure for the purpose of supporting our ever-increasing customer base, which now numbers approximately 1,050 unique customers. We thus anticipate supporting the future growth in our customer base with a relatively flat overall expense structure. Given this and the anticipated cash from renewing customers coupled with cash from accelerating new sales bookings, we continue to believe the Company will become cash flow positive from operations sometime in 2017."
18th Annual Rodman & Renshaw Global Investment Conference Information
At the upcoming conference, Mr. Woessner will provide an overview of the Company's business and business strategy during the live presentation and will be available to participate in one-on-one meetings with investors who are registered to attend the conference.
Date: September 13, 2016
Time: 3:25-3:50 PM EDT
Location: Rutherford, 4th Floor; Lotte New York Palace Hotel in New York City
Registration: www.rodmanevents.com
About COPsync, Inc.
COPsync, Inc. (NASDAQ: COYN) is a technology company that connects law enforcement officers across the nation, so they can communicate and share mission-critical information in real-time. This saves officers' lives and keeps the public safer; helps law enforcement officers catch common criminals and stop child kidnappings, vehicle thefts, bank robberies and other crimes in progress; and arms the nation's law enforcement officers with needed information so they can help defend against terrorism. For more information, go to www.copsync.com.
Safe Harbor Statement
Statements in this release that are not purely historical facts or that depend upon future events, including statements about forecasts of earnings, revenue, product development, sales or other statements about anticipations, beliefs, expectations, intentions, plans or strategies for the future, may be forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended. For example, statements containing words like "expect," "believe," "confident," "estimated," "future," "plan," "planning," "projected," "strategy," "pursuing," "objective" and other similar terms, express management's current views concerning future events, trends, contingencies or results, which may be considered forward-looking statements. Specifically, the statements "The evaluations by these agencies, comprised of more than 3,000 law enforcement officers, are expected to be completed in the Fall of 2016; The Company believes that signing one or more large law enforcement agencies, such as the Bexar County Sheriff Office and the San Antonio Police Department, will encourage other large, metropolitan Texas law enforcement agencies to join the Network; The Company believes this will create a "tipping point" effect in the State; This then is expected to create momentum to establish the COPsync Network as a mission-critical tool for Texas law enforcement and ultimately bring the bulk of the estimated 100,000 Texas law enforcement officers, comprising approximately 8% of the law enforcement officers in the US, onto the COPsync Network; The Company plans to replicate its growth strategy in Texas in other key states across the US; The Company plans to focus its efforts to aggressively grow the COPsync Network and COPsync911 subscriber base in 3 – 5 target states; This growth is expected to be driven by the sales efforts of its direct sales force and its resellers/distributors and complemented by the political assistance and legislative initiatives by governors, mayors, and others with political influence and grant assistance from foundations; These customers over time are expected to create an ever-increasing stream of recurring cash flow and recurring revenues; Given this and the anticipated cash from renewing customers coupled with cash from accelerating new sales bookings, we continue to believe the Company will become cash flow positive from operations sometime in 2017." These and other statements are all highly dependent on a variety of factors, including the Company's ability to successfully execute its business strategy and sales expansion plan in other jurisdictions. Readers are cautioned not to place undue reliance on forward-looking statements. All forward-looking statements are based on information available to the Company on the date this release was issued. The Company undertakes no obligation to update publicly or revise any forward-looking statements, whether as a result of new information, future events or otherwise. Any forward-looking statements involve risks and uncertainties that could cause actual events or results to differ materially from the events or results described in the forward-looking statements, including risks or uncertainties related to the Company's ability to obtain and retain customers and development, implementation and acceptance of its products and services. Certain statements in this press release are highly dependent on the Company's ability to successfully execute its strategy in Texas and other geographic areas; the Company's ability to successfully book new orders for its products and services and renew its existing customers at anticipated renewal rates. The Company may not succeed in adequately addressing and managing these and other risks. Further information regarding factors that could affect the Company's financial, operating and other results can be found in the risk factors section of the Company's Annual Report on Form 10-K for the year ended December 31, 2015, filed with the Securities and Exchange Commission.
Contact:
For COPsync:
Ronald A. Woessner
Chief Executive Officer
9728656192
invest@copsync.com
Media:
Cynthia Vetter
Director of Media
and Investor Relations
cvetter@copsync.com
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SOURCE COPsync, Inc.