Tailwinds’ Take: while Cyber Timez doesn’t have the name recognition of a tier 1 vendor, this program is potentially huge. Over 175,000 potential units and a purchase order in place from the Wounded Warrior Program. Best Vuzix news to date.
ROCHESTER, N.Y., Aug. 14, 2017 /PRNewswire/ — Vuzix® Corporation (NASDAQ: VUZI), (“Vuzix” or, “the Company”), a leading supplier of Smart Glasses, Augmented Reality (AR) and Virtual Reality (VR) technologies and products for the consumer and enterprise markets, is pleased to announce that Cyber Timez, a Vuzix VIP partner has received a purchase authorization in partnership with the Wounded Warrior Program to deliver Cyber Eyez, a smart glasses based visual aid software to assist American veterans with low vision and blindness, wounded warriors and veterans. The Wounded Warrior Program, an approved Ability One vendor, is an organization with the mission to assist our nation’s wounded warriors, both men and women who have sustained permanent injury as a result of their tour in combat in their recovery efforts, which often includes employment assistance.
The project is expected to span 4 to 5 years and is targeted towards 175,000 American veterans and wounded warriors with low vision and blindness. All 42 Wounded Warrior Battalions and 40 Army Medical Centers will begin introducing Cyber Eyez on the Vuzix M300 to American veterans and their families as well offering assessment, training and technical support services.
Cyber Eyez leverages advanced AI engines to enable users with low vision and blindness to be more independent in a sighted world. Users can experience their world and get things done efficiently and independently. By using a high definition camera and an optical character recognition engine, Cyber Eyez provides highly accurate text recognition and provides the ability for virtually any text or signage read to the end-user in real time with no internet connection while still maintaining privacy. Cyber Eyez on the Vuzix M300 Smart Glasses enables many American veterans with low vision and blindness to magnify anything in their environment up to 15 times, read any text in over 100 languages, identify over 16 billion objects, recognize over a thousand colors, scan barcodes to identify products and even detect moods on faces.
“This is a tremendous opportunity for Vuzix to leverage our smart glasses and augmented reality technology to help American veterans, including our nation’s veterans and wounded warriors impacted by low vision and blindness improve their overall quality of life,” said Paul Travers, President and Chief Executive Officer at Vuzix.
“We are very excited to help our nation’s greatest warriors impacted by low vision and blindness to maintain and regain their independence,” commented Sean Tibbetts, Chief Executive Officer and Co-Founder of CyberTimez. “With Cyber Eyez, the Vuzix M300 is enhancing our nation’s American veterans and wounded warriors lives and enabling them to resume their daily tasks, find jobs and regain their independence.”
“Our goal with this project at the Wounded Warrior Program is to outfit thousands of American veterans and wounded warriors impacted by low vision and blindness, both men and women with smart glasses to help them find jobs, improve their quality of life and give them financial independence,” commented Dr. David Godbold, National Director of the Wounded Warrior Program.
About Vuzix Corporation
Vuzix is a leading supplier of Smart-Glasses, Augmented Reality (AR) and Virtual Reality (VR) technologies and products for the consumer and enterprise markets. The Company’s products include personal display and wearable computing devices that offer users a portable high quality viewing experience, provide solutions for mobility, wearable displays and virtual and augmented reality. Vuzix holds 51 patents and 39 additional patents pending and numerous IP licenses in the Video Eyewear field. The Company has won Consumer Electronics Show (or CES) awards for innovation for the years 2005 to 2017 and several wireless technology innovation awards among others. Founded in 1997, Vuzix is a public company (NASDAQ: VUZI) with offices in Rochester, NY, Oxford, UK and Tokyo, Japan.
CyberTimez (http://www.cybertimez.com/) is an award-winning business focused on making a difference in real people’s lives through technology. We are firm believers in and driven by our motto “Always in the service of others.” CyberTimez is focused on automating the Internet of Things using wearable devices like smart glasses and watches. Our driving force is to develop products that make a real difference in real peoples’ lives. Most of our products start their life in the Accessibility space solving problems for those with the most challenges in everyday life and quickly find other commercial market verticals.
About Wounded Warrior Program
The Wounded Warrior Program (https://www.wounded-warrior-programs.com/ ) is an organization with a mission to generate revenue supporting those Veterans who have sustained service-related injuries and/or health conditions, whether physical, mental and/or emotional, that are registered with the Wounded Warrior Program, by and through the distribution and sale of a wide variety of office supplies and other office supply related products. The primary goal and function of the Wounded Warrior Program is to create meaningful employment opportunities for our nation’s veterans who have sustained permanent injury as a result of their tour in combat.
Forward-Looking Statements Disclaimer
Certain statements contained in this news release are “forward-looking statements” within the meaning of the Securities Litigation Reform Act of 1995 and applicable Canadian securities laws. Forward looking statements contained in this release relate to the performance and value of the Vuzix M300 Smart Glasses and their success with the Wounded Warrior Program, as well as the Company’s leadership in the Video Eyewear, VR and AR display industry. They are generally identified by words such as “believes,” “may,” “expects,” “anticipates,” “should” and similar expressions. Readers should not place undue reliance on such forward-looking statements, which are based upon the Company’s beliefs and assumptions as of the date of this release. The Company’s actual results could differ materially due to risk factors and other items described in more detail in the “Risk Factors” section of the Company’s Annual Reports and MD&A filed with the United States Securities and Exchange Commission and applicable Canadian securities regulators (copies of which may be obtained at www.sedar.com or www.sec.gov). Subsequent events and developments may cause these forward-looking statements to change. The Company specifically disclaims any obligation or intention to update or revise these forward-looking statements as a result of changed events or circumstances that occur after the date of this release, except as required by applicable law.
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SOURCE Vuzix Corporation
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