Q&A with President and CEO of Viscount Systems Inc (OTCQB: VSYS): Update on Microsoft, the U.S. Department of Immigration and Insider Buying
New York, NY - July 14, 2014 (www.investorideas.com newswire) Investorideas.com, a global news source covering leading sectors including security and defense, issues an exclusive Q&A interview with Mr Dennis Raefield, President and CEO of Viscount Systems Inc (OTCQB:VSYS) . Mr. Raefield shares insight into his company's security and access control system technology and how it is being deployed by U.S. Governments and leading corporations including Microsoft.
For investors that are not familiar with your company's Freedom Access Control technology, can you give an overview of its uniqueness in being deployed for both physical security and cyber security?
A: Mr Dennis Raefield, President and CEO of Viscount Systems Inc
Our Freedom technology is a completely new way to control physical access into buildings, schools, and government agencies. While using the same cards and readers, we have driven the solution to be virtually all software and IP based, therefore eliminating much of the control panel hardware associated with tradtional systems. This makes our solution not only much more cost effective, but also much more secure since our software sits behind the client's firewall. At the same time, we allow users to combine physical access (controlling doors) with logical access (controlling who gets onto networks, databases, etc.) into a single system.
This combination, and lack of huge, expensive control panels, gives us the advantage of an all-software solution, extreme flexibility, lower total costs, AND heightened security against cyber threats. Rarely can one system offer so many advantages.
One of the corporations using the Freedom technology is Microsoft, as noted in their recent blog:
Can you tell us how that partnership evolved and the significance for your Freedom technology moving forward?
A: Mr. Dennis Raefield, President and CEO of Viscount Systems Inc
Microsoft realized early-on that Viscount's Freedom technology was a game changer because we combine physical and IT security in a single platform, and because our technology is integrated into the Microsoft IT stack. They even awarded us their prestigious “Be What's Next” award a few years ago. Microsoft uses our Freedom access control security solution to secure the main entrance into their Global Security Operations Center on the Microsoft campus in Redmond, WA. Microsoft also uses our mobile security solution whereby a Microsoft employee can download our “FreeAccess”® cell phone app and their Windows phone as their access card to enter the building.
Microsoft is now considering how to use this next generation solution elsewhere on their campus, in some innovative and new ways. We have a close partnership in solving their complex security issues.
On June 16 th you filed a Form 4 to disclose insider buying by yourself and other Board members. Can you comment on this and the determining factors to make this investment at this time?
A: Mr. Dennis Raefield, President and CEO of Viscount Systems Inc
Even before I became CEO, I made regular small purchases of the stock in the public market. Recently our Board members commenced buying, and even after investing $50,000 of my own money in the last private placement, I continue to buy regularly. Investors should continue see regular insider buying at various times. Because we are insiders, we are restricted to short open windows when we can purchase, so we take advantage of those windows whenever we can. I am obviously bullish on the stock, not because of any short term reasons, but because the stock is significantly undervalued in my opinion, the products are fantastic, and our future looks bright.
In closing, you recently announced that Viscount has been awarded contracts to secure U.S. Federal Government facilities in New York, Montana and Indiana, and you disclosed for the very first time that the government client is the U.S. Department of Homeland Security, Citizenship and Immigration Services. What does it say about Viscount that a large agency like the Department of Citizenship and Immigration, an agency within the U.S. Department of Homeland Security that is so visible in the news these days, is using your technology to secure its sites?
A: Mr. Dennis Raefield, President and CEO of Viscount Systems Inc.
Very simply, I think it comes down to the fact that our technology solves the key security and cost challenges facing governments and commercial enterprises across the globe.
Freedom is considerably lower in cost, both at initial installation, and when looking at total cost of ownership. With the tight budgets of both government and commercial clients, we allow our clients to save money for use on other security needs.
Because we are an all-software solution, we can adapt quickly to special needs and changing security threats. This is the #1 reason the Department of Homeland Security, Citizenship and Immigration Services group, is using Viscount's Freedom software. As their needs change, we will adapt our software to them.
Our inherent design philosophy, which replaces costly and cumbersome control panels with tiny IP “bridges”, our Freedom Bridge, enhances security by moving decision making back to the agency's or company's existing IT network and server stack. The Freedom system is much harder to hack and penetrate, since we make NO decisions in the field, but only behind the existing, heavily-fortified firewalls and infrastructure of our clients' own IT systems. When clients ask, “How secure is Freedom?”, our answer is always: “Unlike some competitors, we are never the weak spot in your cyber-defenses. We are as secure as your own IT network.”
Those are very powerful messages and have resulted in our continued growth and acceptance, especially in the Federal Government.
Viscount Systems, Inc. brings cyber security protection to physical security and building automation systems. Its software solutions are sold and installed only by certified security integrators. Viscount's industry awards include the Microsoft "Be What's Next" Award, Security Industry Association Convergence Solution of the Year and Homeland Security Platinum Award for Emergency Response and Gold Award for Access Control at GOVSEC
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