QUES stock (OTCQB: QUES) has formed a complex bottom over the last few months as sales revenue increases.
Quest Solution’s HTS Image Processing subsidiary is a leading provider of computer vision image processing-based solutions using patented and proprietary AI technology to provide real-time surveillance and monitoring for homeland security, traffic & parking management, law enforcement and access control applications as well as supply chain management.
On October 29, 2019, Quest Solution announced that its recently launched Artificial Intelligence based, patented SeeCube™ solution has been selected to upgrade a major safe district security system in a highly sensitive region. The SeeCube™ Visual Cortex algorithm was selected because it enables a vehicle recognition system that combines vehicle make and color recognition capabilities with license plate number recognition technology.
As part of the selection process, the SeeCube™ solution underwent several months of intensive testing by one of the most advanced homeland security agencies in the world for this retrofit application. SeeCube™ surpassed performance expectations, delivering industry leading accuracy in real-time license plate, make and model identification. This large-scale safe district application utilizes hundreds of deployed cameras.
Shai Lustgarten, CEO of Quest stated, “This is a technological breakthrough for public safety and crime prevention. License plates can be easily altered or removed from vehicles altogether, but with SeeCube’s™ ability to capture and record all of a vehicle’s characteristics, including make, model, year and color, the system enables law enforcement and homeland security forces to quickly and accurately identify and prevent dangerous and life threatening situations.
“We are very pleased that the test results of our solution surpassed the performance expectations. While there can be no assurance, we anticipate significant follow-on orders from this agency and expect to see additional demand worldwide. Our safety systems provide crucial real-time information to law enforcement and homeland security organizations based on the most sophisticated AI and machine learning technology, and we’re proud of our growing role in ensuring the safety of communities as well as school campuses and religious facilities. We look forward to capitalizing on the growing opportunities we’re seeing around the world for our solution.”
On November 6, 2019, Quest Solution announced the appointment of John F. Whiteman as Director of Sales. In his new role, Mr. Whiteman will oversee the sales organization with a focus on accelerating the closing of existing sales opportunities, and meeting and exceeding sales budgets while growing the sales pipeline. Mr. Whiteman plans to leverage his experience with the strength of the Company’s sales professionals and the support of the marketing team to drive sales growth of all of Quest’s offerings.
Shai Lustgarten, CEO of Quest stated, “John is an accomplished and seasoned executive with a long track record of establishing and growing both start-ups and multi-million dollar businesses. Many at our organization have previously worked with John given he was formerly a senior executive at HTS, the Company we acquired to add our proprietary computer vision technology. John is a respected leader in this industry with an intimate knowledge of the technology and deep relationships across the end markets. We welcome him on board and look forward to his contribution.”
John Whiteman, newly appointed Director of Sales stated, “I am thrilled to return to the Quest & HTS family. Having spent 10 years in the AI and Computer Vision space, it is great to return to a global leader working with many colleagues from my prior experience with HTS. With the Company’s enhanced and renewed infrastructure for sales, support and development, I look forward to the opportunities to optimize partnerships and drive growth with existing customers, and to developing many new and exciting relationships within several transformational new markets.”
Most recently, Mr. Whiteman partnered with several Israeli technology companies to develop go-to-market strategies, sales channels, value-added reseller partnerships and end customers throughout the Americas, most notably in the commercial parking, airport, transportation and safe city applications.
Mr. Whiteman served as Executive Vice President of Sales for TIBA Parking Systems in the Americas from January 2017 to July 2019, the Chief Executive Officer of HTS Americas from May 2011 to December 2016, Chief Sales Officer of HTS, LTD from August 2014 to December 2016 and as President of HTS, LTD from January 2016 to December 2016 where he was responsible for revenue generation, product alignment and business profitability for the global organization. Prior to HTS, Mr. Whiteman served as President of ioimage Americas for two years and subsequently the Vice President of Strategic Programs at DVTel after their acquisition of ioimage. Previously, Mr. Whiteman served in several executive level sales and marketing roles in North America including CyberFlex Software, Axsys Technologies, Vicon Industries and Sentry Technology.
Mr. Whiteman holds a degree in Law Enforcement Administration from Western Illinois University.
We are not adding QUES stock to the long-term GST Portfolio at this time. We would prefer to see more diversified products beyond the ingenious license plate/car make and model AI video cams. We would also like to see greater demand for this technology with many more million dollar contracts coming in before we decide to jump on this stock. Still, this company is one you want to keep your eyes on. I have mixed feelings about it not making the GST Portfolio cut as it was a very close decision. I sure wouldn’t argue with anyone who wanted to invest in this stock now as a extremely high risk gambit on the new VP of sales guy.
Disclosure: We do not hold any position in QUES stock at this time.