Business
Update: Route1's MobiKEY Technology Playing an Important Role in Supporting the U.S. Government's Work from Home Plan During the COVID-19 Outbreak
Route1 is Part of the Solution TORONTO, CANADA / ACCESSWIRE / March 23, 2020 / Route1 ...
About this update from Route1 Inc.
[{"type":"text","content":"Update: Route1’s MobiKEY Technology Playing an Important Role in Supporting the U.S. Government’s Work from Home Plan During the COVID-19 OutbreakRoute1 is Part of the SolutionTORONTO, CANADA / ACCESSWIRE / March 23, 2020 / Route1 Inc. (OTCQB:ROIUF) and (TSXV:ROI) (the \"Company\" or \"Route1\"), an advanced North American provider of data-centric business empowerment solutions today provided an update to its March 16, 2020 news release in regards to the use of its MobiKEY technology during the COVID-19 outbreak.There has been a significant spike in the demand for the Route1 MobiKEY technology - which includes the MobiKEY software and MobiKEY enabling devices, particularly the MobiKEY Fusion3 device. Sale and quote activity for both Department of Defense (\"DoD\") and certain civilian agencies of the U.S. government as well as Corporate America and Canada has dramatically increased as the working implications of COVID-19, particularly the requirement to work from home, have been mandated by most levels of government and business.Last week Route1 added 654 paying MobiKEY subscribers and sold 3,157 MobiKEY Fusion3 and MobiKEY Classic 3 devices. MobiKEY SubscriptionsEnabling Devices: MobiKEY Fusion3 or MC3Week ended Mar 13, 2020209218Week ended Mar 20, 20206543,157Further, based on purchase orders in hand and funds obligated to purchase, Route1 expects to add more than 540 additional paying MobiKEY subscribers and sell MobiKEY Fusion3 devices over the next five to seven business days.Last week Route1 placed an order for 6,000 MobiKEY Fusion3 devices. The Company currently has a purchase order backlog in excess of 4,000 MobiKEY Fusion3 devices, with the majority of the backlog for clients with an enterprise license agreement - thus there is not a 1:1 relationship between device sales and new subscriptions.The Company has also delivered many additional quotes. Some of these quotes were for a small number of users and/or enabling devices, while others were for user counts and/or enabling devices in the thousands.The ability to execute on the larger quotes that include MobiKEY Fusion3 devices is based on our clients accepting a 12 to 16-week shipping timetable for the devices. The current COVID-19 outbreak has and likely will continue to extend the shipping timetable for MobiKEY Fusion3 devices beyond the traditional 8 to...