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Saturday, Jun 25, 2022

GZ6G Opens West Coast Command Center in Irvine

Handles Information for Stadiums, Airports & More

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GZ6G Technologies Corp., an upstart company whose products help display real-time information electronically in airports, cities, stadiums, universities, and other large venues, has chosen Irvine for what it calls its new West Coast command center.

The Las Vegas-based company (OTCQB: GZIC), which went public via a reverse merger in 2018 and counted a roughly $14 million market value as of last week, is leasing about 6,500 square feet of space at 1 Technology Drive for the facility. It already had an operational presence in the city.

The company—the GZ stands for Green Zebra—calls itself “an enterprise smart solutions provider” for large venues.

“There are lots of different technologies that we use to get to the stadiums and airports so that they can communicate with their fans, their visitors, their travelers, their students,” Chief Executive Coleman Smith said on May 16.

“On the front end, we’re really an entertainment technology company that creates user engagement at stadiums and airports” and other places, Smith said. The company’s technology includes Internet-transmitted IPTV and Wi-Fi for mobile and laptops.

“We can put up announcements. It could be a PSA message. It could be a graphic, tickets for next week’s games.

“They’re going to be able to see messaging that’s relevant to their venue,” Smith said.
He says the range of topics that can be distributed is vast—a free hot dog or meeting with players at a sports stadium pushed across Wi-Fi—or just a flight delayed at an airport.

He said the method is the same for airports, cities, universities and the hospitality industry, just with different messages.

“Maybe there is a clinic for COVID at their university at a particular location. We could run that across all of the TV sets.”

Smith, who is based in Irvine, became the company’s majority stockholder after the 2018 reverse merger.

Cash Crunch

GZ6G counts 25 local employees at the West Coast base in Irvine, according to Smith.

“We’re here in Southern California. Everything is here,” Smith said. “Our products straddle innovation and practicality,” according to Smith. “We aren’t just providing quick fixes, but are focusing on ever evolving and emerging technology that pushes venue entertainment into the future.”

He expects revenue to “really start coming in” later this year, adding “we’ll probably expand into another building” as the staff grows.

In order to finance that growth, the company needs to raise more money.

According to the GZ6G’s latest quarterly earnings report, it counted an accumulated deficit of $19 million with only a minimal amount of cash on hand.

The company “anticipates a need for a further $5,000,000 in fiscal 2022 to meet its upgraded infrastructure requirements and has filed two registration statements on Form S-1 to facilitate this requirement which allow for total funding of up to $15,000,000,” regulatory filings said.

The company’s current cash position raises “substantial doubt about the company’s ability to continue as a going concern,” the company’s last earnings report said.

The company said in a statement in March that is has “an aspiration—albeit an aggressive one—of achieving the $100 million revenue milestone within the next five years.” Acquisitions are a larger part of that growth strategy.

Kevin Costelloe
Kevin Costelloe
Tech reporter at Orange County Business Journal

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