Business
Gatekeeper Systems Provides Corporate Update for Second Fiscal Quarter
(via Thenewswire.ca) - Achieved record backorder of $2.7 million CDN in 2 nd Quart...
About this update from Gatekeeper Systems, Inc.
[{"type":"text","content":"Gatekeeper Systems Provides Corporate Update for Second Fiscal Quarter(via Thenewswire.ca)\n \n \n\n\n-Achieved record backorder of $2.7 million CDN in 2nd Quarter\n\n\n\n-Finalized launch plans of revenue sharing project in Jones County, GA\n\n\n\n-Increased total number of cameras shipped by 126% \n\n\n\n-Increased total number of mobile digital recorders shipped by 65%\n\n\n\n-Stop-arm camera evaluation sites increased to 16\n\n\n\n-Completed engineering of new high-definition airborne recorder\n\n\n\n-Released high-definition in-car camera for law enforcement\n\n\n\n \n \nAbbotsford, BC April 5th, 2016 / TheNewswire / Gatekeeper Systems Inc. (\"Gatekeeper\" or the \"Company\") (TSX.V: GSI; OTC: GKPRF; FSE: 1GK) is pleased to provide an update to shareholders regarding recent developments within the Company's second fiscal quarter ended February 29, 2016 (\"Q2\"). \n\n \n \nThe Company's base business continued to drive sales in Q2 with a record backorder climbing to approximately $2.7 million CDN. The backorder is primarily due to an increase in camera sales and mobile digital recorders of 126% and 65%, respectively, as compared to the same period in fiscal 2015.\n\n \n \nStop-arm camera evaluation sites increased from fourteen to sixteen over the last quarter, representing 1,083 buses owned by various school districts. Gatekeeper is in the process of working with school districts, law enforcement, and judicial systems in an effort to close evaluation sites, moving to shared revenue contracts. \n\n \n \nThe Company is in the final stages of executing on its first five-year revenue sharing contract (the \"Contract\") in the stop-arm camera business with Jones County School District in Georgia. Equipment is scheduled to be installed April 16th and 17th, 2016 with a Press Day scheduled for April 27th, 2016. Pursuant to the Contract, Gatekeeper will receive 50% of the revenue from each citation issued with 25% shared with the school district and 25% shared with Jones County. Stop-arm violation fines in Georgia are $350 USD for first time offence, $750 USD for second time offence and $1,000 USD for third time offence. The Company anticipates receiving proceeds from ticket citations prior to the end of the current fiscal year. \n\n \n \nThere is an estimated 13 to 15 million stop-arm violations in the United States with legislatio...