U.S. Markets closed
  • S&P Futures

    3,785.75
    -17.50 (-0.46%)
     
  • Dow Futures

    30,228.00
    -137.00 (-0.45%)
     
  • Nasdaq Futures

    11,584.25
    -56.50 (-0.49%)
     
  • Russell 2000 Futures

    1,768.90
    -12.60 (-0.71%)
     
  • Crude Oil

    86.17
    -0.35 (-0.40%)
     
  • Gold

    1,728.40
    -2.10 (-0.12%)
     
  • Silver

    20.89
    -0.21 (-0.99%)
     
  • EUR/USD

    0.9973
    -0.0013 (-0.1296%)
     
  • 10-Yr Bond

    3.6170
    -0.0340 (-0.93%)
     
  • Vix

    29.07
    -1.03 (-3.42%)
     
  • GBP/USD

    1.1436
    -0.0039 (-0.3362%)
     
  • USD/JPY

    144.1200
    -0.0790 (-0.0548%)
     
  • BTC-USD

    20,199.23
    +595.69 (+3.04%)
     
  • CMC Crypto 200

    458.19
    +12.75 (+2.86%)
     
  • FTSE 100

    7,086.46
    +177.70 (+2.57%)
     
  • Nikkei 225

    27,085.97
    +93.76 (+0.35%)
     

OTC: ILUS, ILUS International Announces the Development of Revolutionary Wearable Technology for the Defense and Emergency Response Sectors and Provides an Acquisition Update

·7 min read
ILUS International Inc.
ILUS International Inc.

NEW YORK, NY, Aug. 10, 2022 (GLOBE NEWSWIRE) -- via NewMediaWire -- ILUS International Inc (OTC: ILUS) (Ilustrato Pictures International Inc) is a Mergers and Acquisitions company focused on acquiring and developing public safety technology-based companies across the globe. The company recently joined forces with the world’s leading haptic suit manufacturer to produce the ILUS Suit for defense and emergency response training and monitoring. Following record second quarter revenue announced yesterday, ILUS is also in the final stages of due diligence for five further acquisitions, adding additional manufacturing capability, patented technology, and substantial revenue to the group. 

At the ILUS Annual Shareholder Meeting held earlier this year, the company spoke of its vision for wearable technology to be used in firefighting and emergency response. Following through on this vision, ILUS has officially launched its wearable technology project with the goal of utilizing big data and the latest in artificial intelligence to train and protect first responders and warfighters. The company is entering into a Joint Venture with what it believes is the world's leading haptic suit manufacturer and will be launching the ILUS Suit.

The software technology for the specific scenarios in which the suit will be used is currently being developed by the existing ILUS acquisition, KurveXR.  The company is initially focusing on software development for the defense and firefighting sectors. In training scenarios, the haptic suits provide real world feedback and monitoring capability. In a virtual reality training scenario using the suit, the trainee can feel heat, cold, rain and realistic real-life stimuli as well as haptic feedback that realistically mimics weapon recoil or the kick from a firefighting nozzle. The suit’s sensors capture and record motion for performance monitoring which is so vital in defense and emergency response settings. It also monitors the user’s physical state through its biometry system. The cardiorespiratory system is monitored to give feedback on the user’s oxygen saturation levels, heart rate and pulse rate variability. Although this is only a snapshot of the suit’s capability, the data it provides enables KurveXR to develop personalized Virtual and Augmented Reality content for military and firefighting training, as well as related applications. In addition to training, the solution is also being developed for use during live missions or incidents to monitor performance, collect and analyze data, as well as provide dynamic situational information to its users.

When deployed properly, the training of warfighters and first responders in a virtual, simulated environment means that trainees can complete training at multiple locations simultaneously. Simulation is also safer and more cost effective. This does not mean that virtual reality training should replace live training exercises and the ideal solution can be found in the deployment of both virtual and live environment training. Therefore, the ILUS suit is being designed for use in both virtual and live environments.

The virtual reality training market for defense alone is expected to exceed $5 billion by 2026. Several companies and organizations are already interested in the ILUS suit for their specific applications. Plans are in place to conduct specific prototype testing with the interested parties towards the end of 2022. ILUS then plans to demonstrate the ILUS suit’s capability at the Intersec Exhibition in Dubai from 17-19 January 2023.

Regarding acquisitions, ILUS and its subsidiaries are in the final stages of due diligence for five acquisitions where Letters of Intent have been signed and the company hopes to close at least two of these acquisitions soon. Final stages of due diligence are underway for the acquisition of two wildfire equipment manufacturers, a US based fire protection installation company, and two defense technology manufacturers, one of which includes a drone division with existing product and revenues. In total, ILUS is currently at various stages of negotiation with thirteen potential acquisitions and is confident that it will achieve its 2022 and 2023 revenue goals.

ILUS Managing Director, John-Paul Backwell, commented: “Having recently had the opportunity to test what will become the ILUS suit, I was absolutely stunned by how immersive and realistic the technology is. I am pleased that we are working closely with the world’s leading haptic suit manufacturer which holds several technology patents and I believe we are ahead of the curve regarding what we are developing for the defense and firefighting sectors. On the acquisition front, we are moving forward as planned towards exciting announcements. Added to that, we now also have several much larger acquisitions in negotiation.”

For further information on the companies, please see their communication channels:

Website: https://ilus-group.com
Twitter: @ILUS_INTL

Contact:

Email: IR@Ilus-Group.com

Source: ILUS

Related Links

https://ilus-group.com

Forward-Looking Statement
Certain information set forth in this press release contains "forward-looking information", including "future-oriented financial information" and "financial outlook", under applicable securities laws (collectively referred to herein as forward-looking statements). Except for statements of historical fact, the information contained herein constitutes forward-looking statements and includes, but is not limited to, the (i) projected financial performance of the Company; (ii) completion of, and the use of proceeds from, the sale of the shares being offered hereunder; (iii) the expected development of the Company's business, projects, and joint ventures; (iv) execution of the Company's vision and growth strategy, including with respect to future M&A activity and global growth; (v) sources and availability of third-party financing for the Company's projects; (vi) completion of the Company's projects that are currently underway, in development or otherwise under consideration; (vi) renewal of the Company's current customer, supplier and other material agreements; and (vii) future liquidity, working capital, and capital requirements. Forward-looking statements are provided to allow potential investors the opportunity to understand management's beliefs and opinions in respect of the future so that they may use such beliefs and opinions as one factor in evaluating an investment. These statements are not guarantees of future performance and undue reliance should not be placed on them. Such forward-looking statements necessarily involve known and unknown risks and uncertainties, which may cause actual performance and financial results in future periods to differ materially from any projections of future performance or result expressed or implied by such forward-looking statements. Although forward-looking statements contained in this presentation are based upon what management of the Company believes are reasonable assumptions, there can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. The Company undertakes no obligation to update forward-looking statements if circumstances or management's estimates or opinions should change except as required by applicable securities laws. The reader is cautioned not to place undue reliance on forward-looking statements. The Securities and Exchange Commission ("SEC") has provided guidance to issuers regarding the use of social media to disclose material non-public information. In this regard, investors and others should note that we announce material financial information via official Press Releases, in addition to SEC filings, press releases, Questions & Answers sessions, public conference calls and webcastsalso may take time from time to time. We use these channels as well as social media to communicate with the public about our company, our services, and other issues. It is possible that the information we post on social media could be deemed to be material information. Therefore, considering the SEC's guidance, we encourage investors, the media, and others interested in our company to review the information we post on the following social &media channels:
website: https://ilus-group.com     Twitter: OTC_ILUS

Note: ILUS Coin does not sit within ILUS International Inc (Ilustrato Pictures International Inc), so the public are recommended to follow the correct Media Channels relating to the public company OTC: ILUS.