Wytec International, Inc. Announces Private Offering in Preparation for Completion of Its Proprietary Gunshot Detection and Sensor Technology While Listed on the Nasdaq Capital Market Under the Symbol “WYTC” – WYTEC INTL INC by WYTEC INTERNATIONAL INC (OTC:WYTC)

SAN ANTONIO, TX, Sept. 5, 2024 (GLOBE NEWSWIRE) — Wytec International, Inc. WYTCWytec, a 5G artificial intelligence (AI) company, today announced the commencement of its offering of $10,000,000 9.5% SEC 506(c) secured convertible notes (secured by its patents), used to complete the financing of its AI sensor and shooting technology in support of protecting American children from rising shooter violence and detecting harmful drugs infiltrating US independent school districts (ISDs) across the United States and internationally. The AI/Sensor technology includes participation from several domestic and international vendors participating in the Company’s pilot project in support of 40 Texas ISDs applying to participate in Wytec’s pilot program. “The company's initial lab results (over 300,000 samples) yielded a true positive accuracy of 86% for triggers and a true negative accuracy of 94% for non-triggers in real-life environments,” said Robert Sanchez, CTO at Wytec.

Wytec currently owns proprietary intellectual property for small cells designed to incorporate smart sensors and AI/ML software solutions. These solutions will be included in its most recent provisional patents, which are awaiting final approval by the United States Patent and Trademark Office (USPTO). Wytec has retained Denton Law, one of the largest domestic and international law firms in the world, to complete its patent applications.

Wytec's 9.5% bond program will be used to complete its AI sensor/shooting technology and complete its final requirements for listing on Nasdaq Capital Markets and can be viewed at Wytec Secure Notes OfferThe Notes Program is registered under SEC 506(c) and is available only to accredited investors.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About Wytec International, Inc.

Wytec is a 5G network development company that offers artificial intelligence and sensor technology designed to bring public safety and remote learning solutions to schools and cities. Wytec currently owns a patented small cell technology and has several provisional patents in development.

For more information about Wytec International, WYTCPlease visit www.wytecintl.com or follow us on social media via X (Twitter)either LinkedIn.

Forward-looking statements

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Wytec intends that such forward-looking statements be covered by the safe harbor provisions for forward-looking statements contained in Section 21E of the Exchange Act. These forward-looking statements may relate to future events, including statements about Wytec's intentions, objectives, plans, expectations, assumptions and beliefs about future events, including Wytec's expectations regarding the financial and operating performance of its business, its capital position and future growth. The words “anticipate,” “believe,” “expect,” “project,” “predict,” “will,” “forecast,” “estimate,” “likely,” “intend,” “outlook,” “should,” “could,” “may,” “target,” “plan” and other similar expressions may be used generally to identify forward-looking statements. Indications and guidance or outlooks regarding future earnings or financial position or performance are also forward-looking statements. Forward-looking statements contained in this press release are based on management's current expectations of future events and are subject to a number of risks and uncertainties that could cause actual results to differ materially and adversely from those stated or implied by such forward-looking statements. Risks that contribute to the uncertain nature of forward-looking statements include those risks and uncertainties set forth in Wytec's Annual Report on Form 10-K for the year ended December 31, 2023, filed with the United States Securities and Exchange Commission (the “SEC”) and in its subsequent filings with the SEC. All forward-looking statements contained in this press release speak only as of the date on which they are made. Wytec undertakes no obligation to update such statements to reflect events that occur or circumstances that exist after the date on which they are made.

Media:
Erica Perez
Head of Investor Relations and Communications
Company: Wytec International, Inc.
eperez@wytecintl.com
888-284-4531