Reinforcing its Commitment to Increasing Revenues and Subscribers
LOS ANGELES, CALIFORNIA, Sept. 13, 2023 (GLOBE NEWSWIRE) -- MetAlert, Inc. (OTC: MLRT) (“the Company”), a pioneer in GPS wearable technology and global provider in the field of human and asset tracking and recovery systems, announced it has closed a merger agreement with Level 2 Security, LLC, a Delaware corporation (“Level 2”), pursuant to which Level 2 merged into Level 2 Security Products, Inc., a 100% wholly-owned subsidiary of MetAlert, Inc. This is a formidable step in solidifying the financial and operational position of the Company and encapsulates a vision to amplify recurring revenue streams while scaling the Company’s life-saving technology and IP portfolio.
After several months of negotiations both companies completed the merger transaction which was formally announced last week in an 8-K filing. Beyond the immediate tapestry of tangible assets acquired from Level 2, including bank balances, Intellectual Property, approximately 3,800 units of ready to ship product inventory, digital collateral, an online store, an Amazon account, smartphone apps, and ongoing R&D operations, the confluence of these assets; the strategic synergy from the merger also holds the promise to expand the target market far beyond those of humans with cognitive disorders, and thus elevating product sales and annual future subscription revenues. Level 2’s proprietary technology can safeguard an extensive range of mobile assets, and by integrating this with MetAlert’s infrastructure, the Company envisions a P&L and Balance Sheet improvement this fiscal year, along with an uptick in subscriptions starting in 2024.
Level 2 Security which was founded by lifelong gun owners provides tracking technology to detect unauthorized movement or use of firearms and other valuable moving assets, such as motorcycles, electric bikes, ATV’s, boats, and a host of other mobile assets that require real time oversight. Two of the Level 2 executives have also agreed to provide support during the transition period and help the Company with its go-to-market strategy for these new products and markets.
Rob Adams, Level 2 Security LLC President, commented “Our team put years of work and over a million dollars into the development of this technology, and this merger will help both companies expand the business much more quickly, fill a need in the marketplace and create value for the MetAlert shareholders. I believe the businesses are very complementary and poised for significant growth.”
Patrick Bertagna, MetAlert CEO, conveyed that “Level 2's patented technology specializes in monitoring unauthorized use and movement of firearms and other valuable mobile assets and is poised to broaden our market reach significantly. While we expand our footprint in asset tracking, our mission remains unchanged: delivering unparalleled safety-oriented solutions. The potential here is monumental. Imagine a world where gun owners receive instant notifications of unauthorized use or movement of their firearm; this is a transformative step in gun safety. We are really excited about all the different channels and opportunities this could open up for us, as there are millions of guns and valuable mobile assets that constantly need to be monitored.”
The acquisition will broadly expand MetAlert’s reach into the arena of valuable asset tracking and provides the Company an entirely new and larger audience to market products to. This technology is designed to immediately let you know through an app notification if your asset has been touched, moved, or stolen. With none of the data ever being stored on a server, allowing for maximum privacy. This could be a game changer for gun safety.
Tom Lehn, co-founder, and inventor at Level 2 Security LLC, commented “We are excited to become part of a company that will provide the infrastructure, sales and distribution expertise needed to rapidly grow this business.”
Concluding, Patrick Bertagna emphasized, "By tapping into a vast new market, this acquisition signifies a strategic investment in bolstering our short and long-term growth strategy and will broadly expand our reach into the arena of non-human asset tracking. This transaction represents a convergence of our core mission of delivering life-saving technology with a sharp focus on sustainable, long-term subscription-based revenue growth."
The Company plans to start an immediate marketing and product awareness campaign to gun activist groups, gun safety groups, police departments, child safety advocate groups, gun stores and ranges, and plans to expand its marketing into other channels such as the growing electric bike market.
Explore our offerings at www.mygunalert.com and www.ifitmoves.com. We are primed to kickstart an extensive marketing campaign across multiple domains. For partnerships or purchases, reach out to contactus@level2sec.com or info@metalert.com.
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General information, investor relations, wholesale licensing, consumer purchase:
Tel: 213.489.3019 Email: info@metalert.com or ir@metalert.com website www.metalert.com
MetAlert
United Kingdom, London
Nelson Skip Riddle
Tel: +44 7785 364100
Email: nsriddle@metalert.com
About MetAlert, Inc.:
MetAlert (OTC: MLRT) and its subsidiaries are engaged in designing, developing, manufacturing, distributing, selling, and licensing products, services, and intellectual property in the GPS/BLE wearable technology, personal location, wandering assistive technology, and health data collection and monitoring. With over 20 years of experience and an extensive patent portfolio, MetAlert is a leading solution provider for consumers/patients afflicted with Alzheimer, dementia, and autism. This market represents approximately 2.9% of the world’s population. The company offers global end-to-end hardware, software, and connectivity solutions, in addition to developing two-way tracking technologies, which seamlessly integrate with consumer products, enterprise and government agency applications. Utilizing the latest in miniaturized, low power consumption GPS, Cellular, RF, NFC, and BLE technologies, enabling caregivers to track and monitor patients in real time. Known for its game-changing and award-winning patented GPS SmartSole® -- think Dr. Scholl’s meets LoJack, the world’s first invisible wearable technology tracking device created for those at risk of wandering due to Alzheimer’s, dementia, autism, and traumatic brain injury. MetAlert’s subscription-based business model is built around technology innovation with intellectual property protection. The company has international distributors servicing customers across the globe with subscribers in over 40 countries and is a U.S. Military Government contractor. Other customers include public health authorities, municipalities, emergency and law enforcement, private schools, assisted living facilities, NGOs, small business enterprises, senior care homes, and consumers. www.MetAlert.com
Forward-Looking Statements
This news release contains forward-looking statements. The terms and phrases “expects,” “would,” “will,” “believes,” and similar terms and phrases are intended to identify these forward-looking statements. Forward-looking statements are based on estimates and assumptions made by MetAlert considering its experience and perception of current conditions and expected future developments, as well as other factors that MetAlert believes are appropriate in the circumstances. Many factors could cause MetAlert’s actual results, performance, or achievements to differ materially from those expressed or implied by the forward-looking statements. Certain risk factors that may cause actual results to differ are outlined in MetAlert’s Annual Report on Form 10-K filed with the U.S. Securities and Exchange Commission (which may be obtained on the SEC Website). These factors should be considered carefully, and readers should not rely on MetAlert’s forward-looking statements. MetAlert has no intention and undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required.
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