Force Protection Video (OTCMKTS:FPVD) started the New Year off on a positive note by attending the Consumer Electronics Show in Las Vegas. The CES show is attended by law enforcement officials from around the world. CEO Paul Feldman planned to meet with audio and video manufacturers to discuss the latest technology and applications.FPVD has a lot of potential in today's world. Both law enforcement and the public are demanding accountability of what takes place when police are out in the field. FPVD supplies police with on the body high-definition video cameras. The Force Protection Video LE150 camera is a rugged HD design which incorporates Ambarella made chips that allow cameras and other devices to record high definition video. It is the same chip supplier of the popular GoPro sports cameras.Last month, FPVD announced its plan to sell a new state of the art law enforcement camera along with management software and total security onsite storage. Shipments should begin in the first quarter of 2016. The Force protection LE50 camera is a 1080HD camera system with the ability to operate 12 hours continually.The need for a camera that will operate an entire shift without charging has been a major request from law enforcement. The LE50 is designed using the Ambarella chip to provide the highest quality video. This along with one button record and a voice announcement when the camera begins to record with an officer ID fulfills these needs.FPVD also offers the Citadel management software with secure onsite audio and video recording storage. The Citadel audio/video management software and storage solution fills another request and need from law enforcement to provide an affordable solution to manage and store audio and video recordings securely on site without long term contracts and excessive storage fees.
Currently over 100 agencies are using or evaluating the Force Protection LE10 camera system. Over 40 agencies have expressed interest in the new LE50 camera and the Force Protection Citadel software management and onsite secure storage solutions solution.
Last year, FPVD announced that the LE10 on the body camera had been chosen over several other manufacturers in a 30 day test and evaluation by a Northern California Police Department. The key positive feedback comments from the department were size, video quality and pricing. Force Protection has also received multiple reorders from police departments in Tennessee and District Attorneys’ Offices in Louisiana.Driving this demand is when you compare FPVD's cameras with the competition. The LE10 is a small bodyworn high definition (HD) camera which is half the size and half the price ($195.00) of most law enforcement cameras currently available. The LE10 is rich with features such as still picture ability 8MP, WIFI, 4x zoom and audio recording. The LE10 does not require special software or expensive storage contracts. The video files can quickly be downloaded into a standard law enforcement case file and the micro SD cards are sealed in the provided static evidence bags and then securely stored in the department’s evidence locker.Helping FPVD is a number of tailwinds. The wearable technology industry is expected to grow to $20 billion by 2018. The popularity of GoPro makes the space even more exciting. For law enforcement and FPVD, the events in Ferguson, Missouri created a worldwide uproar demanding accountability. President Obama is proposing a three-year, $263 million spending package to increase use of body-worn cameras, expand training for law enforcement and add more resources for police department reform. The package includes $75 million to help pay for 50,000 of the small, lapel-mounted cameras to record police on the job, with state and local governments paying half the cost.
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FPVD is an exciting play in a growing industry. The stock has gotten quite active on the OTC markets with a recent large increase in trading volume and price. Currently, FPVD has minimal assets and revenues. The company needs to deliver to justify its $23 million market cap. Stay tuned for the latest on FVPD by signing up for our newsletter below!
Disclosure: We have no position in FPVD either long or short. We have not been compensated for this article.
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