Genasys announced it recently received $1.4M in new public safety mass notification orders from the southern California cities of Laguna Beach and Newport Beach. Under the orders, the Company's unified platform of LRAD voice broadcast systems integrated with Critical Communications as a Service, or CCaaS, software will be installed at several locations within the cities.
Genasys said it, s"trongly encouraged California lawmakers and Governor Newsom to move forward with the passage of legislation that could help to fill dangerous gaps in public safety notification technology throughout California." "California is subject to frequent and severe emergencies, like the tragic fire in Paradise last year and again this month with several wildfires currently burning in the state," said CEO Richard Danforth. "State leaders know that California is highly susceptible to many types of disasters, including fires, floods, earthquakes and more. Unfortunately, there are large gaps and inconsistencies in the aging siren warning systems in many areas in the state." According to Core Logic's 2019 Wildfire Risk Report, nine of the 15 metropolitan areas most at risk for wildfires are in California, with Los Angeles, Riverside, San Diego and Sacramento at the top of the list. Streetlight Data's national analysis shows California has 14 of the 100 most evacuation-challenged communities with populations under 40,000. Even when operational, most of the siren systems installed throughout the state are incapable of providing specific warnings, notifications and instructions about the actions the public should take during an emergency. Advanced technologies that deliver wide area public notification and life safety information are available and should be implemented to help protect people dealing with wildfires and other crisis situations. Some emergency management officials and elected leaders in California are implementing the latest emergency warning technologies in their cities. Mill Valley in Marin County and Laguna Beach in Orange County have installed advanced public safety notification systems that include voice sirens, mobile mass notifications, satellite connectivity and battery backup. These modern systems deliver real-time voice notifications and siren tones over large areas. Mill Valley's system cost less than a single fire engine. Click HERE to view a video of Mill Valley's new emergency warning installations. Many areas in the state are not financially equipped to self-fund the installation of modern emergency notification systems. In the State Legislature, SB130 seeks to establish a $10M grant program. The bill includes language noting "fire warning sirens," though it did not come to fruition in the last legislative session. There's also a new bond initiative in Sacramento to provide grants to municipalities for emergency warning systems. The draft language refers to "evacuation systems, emergency notification systems" and "fire and disaster response communication and infrastructure." If the initiative is instituted, the California Office of Emergency Services would manage the program and distribute the funds in 2021 - 22.
New option listings for October 23rd include Allegiance Bancshares (ABTX), LRAD Corporation (GNSS), and SilverCrest Metals Inc (SILV). Option delistings effective October 23rd include Alder BioPharmaceuticals Inc (ALDR) and LRAD Corporation (LRAD).
LRAD Corporation announced it is rebranding as Genasys, "aligning the company's identity with its leading, connected critical communications systems that empower all levels of domestic and international government and business to effectively manage critical situations and help save lives." The company's ticker symbol will change to "GNSS" effective market open.