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SeeThruEquity Issues Update Note on COPsync Highlighting Financials and New Hampshire Rollout

Wednesday, 17 December 2014 09:00 AM

SeeThruEquity

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New York, NY / ACCESSWIRE / December 17, 2014 / SeeThruEquity, a leading New York City based independent equity research and corporate access firm focused on smallcap and microcap public companies, today announced that it has issued a company note on COPsync, Inc. (OTCQB: COYN), a company that operates the largest law enforcement mobile data information system and interoperability network in the U.S. and sells a unique real-time threat alert system for schools and other at-risk facilities that connects facilities under threat to the nearest law enforcement patrol units and the local dispatch center in seconds.

The note is available here: COYN Company Note - December 2014. SeeThruEquity is an approved equity research contributor on Thomson First Call, CapitalIQ, FactSet, and Zack's. The report will also be available on these platforms.

"COPsync has a very unique product with no true competitors. We are very encouraged by the dual announcements by the State of New Hampshire and view them as a precursor of things to come for the company. These high visibility, large scale deployments of the COPsync Network and the COPsync911 Threat Alert System will expand COPsync's geographic footprint and should get the attention of other municipalities looking for tools to increase officer efficiency and effectiveness," commented Ajay Tandon, CEO of SeeThruEquity. "We are maintaining our price target of $0.57 per share."
 
Highlights of note are as follows:

Software drives growth, gross margin expansion

COPsync reported revenues of $1.3mn in 3Q14, up 7% compared to $1.2mn in 3Q13. This growth was driven by strength in Software subscription revenues, which were up 44% compared to 3Q13. Hardware, installation and other revenues decreased year-over-year by 17% to $601k in 3Q14, compared to $725k for 3Q13. COPsync reports that the decrease in the quarterly revenue was due principally to a few contracts not being completed in 3Q14 because of delays in receiving third party and proprietary hardware. The completion of these contracts and the related revenues and costs are expected to be recognized in 4Q14. The changing revenue mix led to a large gross margin increase for the company, as gross margins of 49.7% in 3Q14 were up from 20.6% in 2Q13 and were also up sequentially from 34% in 2Q14.

New Hampshire rollout continues
Subsequent to the end of 3Q14, on November 20, 2014, COPsync announced that the New Hampshire State Police has become the first state highway patrol to adopt the COPsync system. The state's highway patrol has subscribed to use the "responder" module of the COPsync system, which will enable the agency's hundreds of patrol officers to respond to emergency alerts from schools and other at-risk facilities equipped with the company's COPsync911 threat alert system. This comes on the heels of a September 29, 2014, announcement by the company that the State of New Hampshire has launched a new statewide school safety initiative, with the COPsync911 threat alert system, to enhance school emergency notification systems throughout the State of New Hampshire. These are both tremendous positives for COPsync, as it looks to deploy its software and services on a wide-scale basis across the US. These actions by the State of New Hampshire could accelerate COPsync's geographic expansion, as other states follow suit.  

Please review important disclosures on our website at www.seethruequity.com

About COPsync, Inc.

COPsync, Inc. operates the largest law enforcement mobile data information system and interoperability network in the U.S. The COPsync Network enables officers to report and share actionable, mission-critical data and communicate in real-time and collect for outstanding misdemeanor warrants in real-time at the point of incident. Officers are also able to obtain instant access to local, state and federal law enforcement databases. The Network's companion COPsync911 system enables campuses, government buildings, energy, telecommunications and other potentially at-risk facilities to automatically and silently send threat alerts directly to local law enforcement officers in their patrol cars and local dispatch in the event of crisis, thereby protecting schools, school children and others. The COPsync Network also eliminates manual processes and increases officer productivity by enabling officers to electronically write tickets, accident reports, DUI forms, arrest forms and incident and offense reports. The COPsync Network saves lives, reduces unsolved crimes and assists in apprehending criminals and interdicting criminal behavior -- through such features as a nationwide officer safety alert system, GPS/auto vehicle location and distance-based alerts for crimes in progress, such as school crisis situations, child abductions, bank robberies and police pursuits. The company also sells VidTac(R), an in-vehicle, software-driven video system for law enforcement.

For more information, visit www.copsync.com and www.copsync911.com.

About SeeThruEquity

SeeThruEquity is an equity research and corporate access firm focused on companies with less than $1 billion in market capitalization. The research is not paid for and unbiased. We do not conduct any investment banking or commission based business. We are approved to contribute our research to Thomson Reuters One (First Call), CapitalIQ, FactSet, Zacks and distribute our research to our database of opt-in investors. We also contribute our estimates to Thomson Estimates, the leading estimates platform on Wall Street.
For more information visit www.seethruequity.com.

Contact:

Ajay Tandon
SeeThruEquity
[email protected]

 

SOURCE: SeeThruEquity

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