SEATTLE--(BUSINESS WIRE)--Mar. 8, 2017--
Visualant, Inc. (OTCQB: VSUL) – a provider of chromatic-based
identification, authentication and diagnostic solutions, with its
ChromaID™ technology, released today a letter from its Founder and Chief
Executive Officer providing an overview of the Company’s technology and
an update on recent activities of the Company.
I am pleased to update you on Visualant and its recent activities. I am
very excited about the prospects for our Company in 2017 and beyond. As
many of you know, last year was a challenging year at Visualant. After
much effort and hard work, we have moved the Company forward, although
our stock price is not a reflection of the true value of the Company and
its technology. Considering our advanced technology, our IP portfolio
and ChromaID’s nearly unlimited opportunities as a platform technology
applicable to so many industries, the value of our Company and its stock
has not yet been recognized by the marketplace.
I would like to begin by reviewing the basics of Visualant’s
award-winning technology and highlighting some of its compelling
attributes and broad applications.
Almost everything in nature has a unique chromatic signature.
Visualant’s award-winning technology, ChromaID, uses light to
authenticate, identify and diagnose a wide variety of matter with
accuracies at the wavelength of a photon. Traditional methods require
the use of specialized and bulky equipment such as spectrophotometers
and complex laboratory analysis which adds cost and time.
ChromaID is a platform technology that simplifies this process with its
pioneering method of using structured light, a disruptive breakthrough
in photonics, harnessing the power of the spectrophotometer into a
handheld device at a competitive price.
Using a patented technology that includes a series of frequency-specific
light-emitting diodes (LEDs), ChromaID creates a unique chromatic
signature with thousands of data points providing a high degree of
accuracy in a fraction of a second. This allows for instantaneous
identification and analysis; saving time and increasing productivity.
ChromaID is available for licensing in collaboration with strategic
partners for a variety of proprietary applications and commercial
ChromaID is a sensor technology which has broad applications in the
world of the Internet of Things (IoT).
ChromaID technology can potentially be integrated in to many Original
Equipment Manufacturer (OEM) products, including mobile and tablet
ChromaID devices are portable and field-deployable and enable
ChromaID devices are low-cost, scalable systems that can be offered at
lower prices than all known current competing technologies.
ChromaID Signature Reference Library™ databases are easy to build and
can be stored locally or accessed via cloud-based applications. Over
time, these Reference Library databases can become a significant asset
of the Company.
The Company currently has 10 issued patents and 20 patents pending on
our current technology and its applications. As we have previously
announced, we have patents pending relating to everything from food
safety, to diamond grading, to ascertaining blood glucose levels.
ChromaID technology can be used to authenticate anything from
manufactured goods, driver’s licenses and access cards, pharmaceuticals
and beyond. ChromaID can identify e-Coli on meat, explosive residue on a
terrorist’s hand and counterfeit currency.
ChromaID, as mentioned above, is also a sensor technology which exists
in the environment known as the Internet of Things or IoT. We envision a
time when literally millions or billions of our sensors can be doing
identification, authentication and diagnostics remotely connected to the
Internet. Critical infrastructure and national security are two
significant areas of potential application for the sensor IoT focus of
There are other potential developments underway which we will be able to
announce over time as we seek development partners to expand the reach
and markets for our ChromaID technology
The Company’s commercialization plan includes three priorities for 2017:
continue to mature the technology, expand our work in security
applications and add commercialization partners. The Company plans to
produce a next generation ChromaID system that will build on the success
of the previous model while incorporating the feedback we have received
from potential customers. Potential customers have asked for
enhancements that will better demonstrate how the ChromaID will work in
their applications. The Company believes it can incorporate these
enhancements at a relatively low cost and that these enhancements will
speed the path to commercialization.
Events impacting the growth of our business over the past year and
beyond include our Joint Development Agreements with Intellicheck
Mobilisa and BIOMEDX. Intellicheck, a leader in authentication is
focused on utilizing ChromaID for the authentication of identification
cards including driver’s licenses and access control cards. BIOMEDX is a
software company on the forefront of deploying new holographic
technology with a myriad of applications in health care specifically for
plastic and reconstructive surgery. The BIOMEDX agreement proposes to
utilize ChromaID technology to enhance the natural color, contour and
elasticity of skin to closely match the patient’s and provide the
patient an enhanced post-surgical preview of their appearance.
Intellicheck and BIOMEDX are two relationships providing opportunities
for Visualant to access very large markets for its ChromaID technology.
These are both multi-billion dollar global markets. Penetrating a small
portion of these markets can provide Visualant significant initial
revenue within the next twelve months and long term revenue streams from
continuing deployment of our ChromaID technology in these and many other
Our team was also enhanced late this past year with the additions of
Jeff Wilson and Randy Sprague:
Jeff Wilson joined us as our Chief Financial Officer and
Secretary/Treasurer in September. Jeff has extensive background as a CFO
of technology companies including six years as CFO of MicroVision, the
developer of the virtual retinal display technology.
Randy Sprague is a new addition to our Scientific Advisory Board. Randy
was formerly Chief Engineer at MicroVision and has deep experience
bringing new technology to the market. We are thrilled to have both on
the Visualant team.
We are appreciative of the support from those of you who are long term
shareholders. We want you to know that we are committed to the long-term
success of Visualant and focused on a positive outcome for all our
Thank you for your support of the Company. Please do not hesitate to be
in touch with me. I would love to hear from you.
Founder and CEO
About Visualant, Inc.
Visualant™ is a public company whose shares trade under the stock symbol
“VSUL.” The Visualant Spectral Pattern Matching™ (SPM) technology
directs structured light onto a substance or material, through a liquid
or gas, or off a surface, to capture a unique ChromaID™. A ChromaID can
be used to identify, detect, or diagnosis markers invisible to the human
eye. ChromaID scanner modules can be integrated into a variety of mobile
or fixed-mount form factors. The patented, award-winning technology is
disruptive, making it possible to effectively conduct analyses in the
field that could only previously be performed by large and expensive
lab-based tests. For more information on Visualant, visit the company’s
website at www.visualant.net.
Safe Harbor Statement
"Safe Harbor" Statement under the Private Securities Litigation Reform
Act of 1995: This press release contains forward-looking statements
(within the meaning of Section 27a of the Securities Act of 1933 and
Section 21e of the Securities Exchange Act of 1934) regarding us and our
business, financial condition, results of operations and prospects.
Forward-looking statements in this press release reflect the good faith
judgment of our management and are based on facts and factors currently
known to us. Forward-looking statements are subject to risks and
uncertainties, and actual results and outcomes may differ materially
from the results and outcomes discussed in the forward-looking
statements as a result of either the matters set forth or incorporated
in this press release generally or certain economic and business
factors, some of which may be unknown to and/or beyond the control of
Visualant, Inc. Specifically, we are exposed to various risks related to
our need for additional financing to support our technology development,
the sale of a significant number of our shares of common stock could
depress the price of our common stock, acquiring or investing in new
businesses and ongoing operations, we may incur losses in the future and
the market price of our common stock may be volatile,. Readers are urged
not to place undue reliance on these forward-looking statements, which
speak only as of the date of this press release. We do not undertake,
and we expressly disclaim, any obligation to revise or update any
forward-looking statements in order to reflect any event or circumstance
that may arise after the date of the press release.
View source version on businesswire.com: http://www.businesswire.com/news/home/20170308005351/en/
Source: Visualant, Inc.
Redwood Investment Group
Div of: Pillar
Marketing Group, Inc
Tom Hemingway, 714-978-4425