GSI - Troup County ... Good to see that they finally got around to confirming what was already known but it does add some detail (10 buses) and a different set of incident stats.
Gatekeeper Signs New Revenue Sharing Contract For Stop-Arm Cameras On School Buses
(via TheNewswire)
Abbotsford, BC / TheNewswire / February 7 th , 2017 - Gatekeeper Systems Inc. ("Gatekeeper" or the "Company") (TSX.V: GSI; OTC: GKPRF; FSE: 1GK) is pleased to announce that it has entered into a five-year revenue sharing contract (the " Contract ") with Troup County School District, located in Georgia, USA (the " District "). Pursuant to the Contract, the Company will commence an initial installation of ten systems consisting of Gatekeeper's Student Protector TM multi-lane stop-arm video enforcement cameras, and TIM TM (Traffic Infraction Management) technology (the " System ").
Troup County School District, with 19 schools and 160 school buses, completed a one-day stop-arm violation count in May 2016 that identified 78 violations on its 124 bus routes. Gatekeeper will begin installations on buses servicing areas identified as high-risk for stop-arm offenses. The District intends to increase the number of Systems during the five-year Contract.
Doug Dyment, President and CEO of Gatekeeper, commented, "We are thrilled that Troup County chose Gatekeeper for this project to deter stop-arm violators and promote safety for its 8,000 students transported daily. This is the third revenue sharing contract we have landed in Georgia and we are confident that positive results and user experiences will continue to fuel Gatekeeper's recurring revenue business model as a leading end-to-end solution provider for our industry."
Under this Contract, Gatekeeper is responsible for administrating the project and will manage the process end-to-end, from violation through to citation payment. The Troup County Sheriff's Office will use TIM(TM) to review recorded violations and approve or reject the issuance of citations. The revenue generated from citations funds the program and will be split amongst the District, the County, and Gatekeeper.
In Georgia, USA, stop-arm violation tickets begin at USD $300 for the first offence; USD $750 for the second offense; and USD $1,000 for subsequent offences within a five-year period. The Contract is for an initial five-year term, beginning on the day which the first citation is issued, and automatically renews for an additional five-year term, unless the District or Gatekeeper provides written notice of its intention not to renew the Contract.
During the past 12 months Gatekeeper has been in discussions with multiple school districts, representing over 5,000 school buses, to install complete and fully functioning stop-arm camera systems for a specified period (the " Evaluation Phase "). The Evaluation Phase enables school districts to verify the quality of Gatekeeper's Student Protector TM technology and monitor the number of stop-arm violations occurring in their districts prior to entering into a contract.
The Company currently has twenty-four school districts throughout the United States in the Evaluation Phase, representing 1,862 school buses, and is hopeful that it will be awarded additional contracts following the completion of these Evaluation Phases.
The National Association of State Directors of Pupil Transportation study for 2016 indicates approximately 13 million stop-arm violations occurred in a single day across 34 States. With an average of 180 days in a school year, the number of stop-arm violations could surpass 2 million within the State of Georgia .
Ownership of Student Protector TM equipment, and TIM TM , a proprietary software application, remains the property of Gatekeeper, thereby providing a zero capital cost solution to school districts while enabling them to share in stop-arm violation ticket revenue. |
