TraceSafe inc. wears it well
TraceSafe inc. (CNSX:TSF) is a technology company that has rapidly become a market leader in wearable devices for health & safety, with natural applications into general workforce management. Demand has benefited from the global effort to combat COVID-19 and TraceSafe has established a proven capability to achieve large scale deployment in an urgent time frame.
The company won its first major order in the first quarter (Q1) of 2020, for a quarantine compliance product for the city of Hong Kong. This programme has been successful and remains ongoing, with a follow-on order for 120,000 wearables secured in September 2020.
TraceSafe inc. achieved its market listing in May 2020 (an outline of the company’s formation is on p6) and has subsequently expanded its product offering. The quarantine products, under the brand name ‘imSafe’ are now in use in four countries, including a new letter of authorisation (LOA) announced September 23rd that also includes the TraceSafe LTE-enabled gateway and cloud management system. Also, TraceSafe has expanded its addressable market to include enterprise customers, with a range of contact-tracing products under the ‘AllSafe’ brand. We are forecasting strong revenue growth for Q3 and Q4 2020 driven by new corporate customers as well as ongoing programmes for governments.
Quick facts: TraceSafe Inc.
Price: 0.355 CAD
Market Cap: $12.58 m
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