Company Engages Product Design Experts
CHEYENNE, WY / ACCESSWIRE / July 31, 2020 / Strategic Asset Leasing Inc. (OTC PINK:LEAS), the Company, is pleased to announce they have signed a development agreement with Product Design Experts, Inc. (PDE) to begin development of an Internet of things (IOT) product in the consumer security and safety market.
To help further deploy technology assets the Company has recruited Vincent Risalvato, CEO of PENNEXX Foods Inc. (OTC PINK:PNNX), to act as a technical advisor to the Company. Mr. Risavalto is stated as saying: "I am very excited because IOT safety and security is a booming sector of the consumer market and I believe this is the beginning of a series of products that I believe will improve consumers lives."
The parties are also in talks to advance an opportunity in the future to partner PNNX with LEAS to connect IOT products with PNNX's merchants and users furthering the YourSocialOffers.com rewarding experience.
Part of the Company's strategy is to develop tool kits that are pre-build designs that small companies can use to create products quickly and efficiently that interface with the Internet, dashboards, portals as well as existing devices like Amazon Alexa, Siri and Google home assistant devices. This strategy is based on the direction the industry has been heading.
Gartner has predicted, "the worldwide number of IoT-connected devices is projected to increase to 43 billion by 2023." In fact, Gartner has made a business of helping enterprises create an IoT strategy.
According to MordorIntellegence.com, the IoT chip market, the core component of IoT devices is expected to register a CAGR of 17.25% during the forecast period of 2020-2025. They say, "5G Network, artificial intelligence, machine learning, smart homes, smart cities, as well as an increase in the IoT connected devices in electronics and automotive segments are expected to drive market growth."
McKinsey.com says, "As frequent investors in midsize companies, private equity (PE) funds should re-evaluate the IoT as a sector that can help create significant value." They make this recommendation based on their assertion that while enterprise customers have long had IoT initiatives, smaller and mid-size businesses are now getting a chance to become involved with these technologies.
Industry leaders have typically been the largest enterprises, and now there has been a number of smaller success stories. Strategic Asset Leasing will license tools to increase the availability for business to create IoT versions of their products quickly and easily.
PDE is the developer who created PENNEX's YourSocialOffers.com online merchant social media marketing portal as well as is developing its Global Digital Forensics Cyber Security dashboard and other confidential projects.
The Company, with the help of PDE, will be applying for patents with the United States Patent and Trademark Office to protect its intellectual property (IP) as well as international ITC Patents.
The Company is excited to explore opportunities to use PNNX's social media technology to merge IOT and social media. This is something that could yield exciting breakthroughs.
With this new contract the Company will be receiving software and hardware IP that it will be able to license out to its clients thereby creating a residual value. It also gives the Company a product that they can sell directly to consumers or through online e-commerce sites like Amazon via licensing or manufacturing agreements with OEMs.
The assets under development will include source code, electronic design files, 3D computer-aided design and manufacturing files. They will have applicability not just to the specific launch product which is as yet undisclosed due to the ongoing patent process but will also be applicable to many IOT products giving the IP's ongoing value to license to other companies looking to enter the IOT marketplace.
Jason R Tucker, CEO of Strategic Asset Leasing, stated: "As the new CEO of LEAS I take great pride in the fact that leaders such as Vincent have faith in our team and our product ideas. It's with these great partnerships and great vision that we will bring the Company success and shareholder value."
About Strategic Asset Leasing Inc.
LEAS is focused on leveraging technology assets with an initial focus on the Fintech industry and the Internet of Things (IOT). The "Internet of Things", simply put, are devices and objects that also have an online connection such as personal voice assistants, smart home systems, video doorbells etc. These are rapidly growing sectors and LEAS will be developing and licensing technologies that will help companies penetrate these markets, thereby increasing shareholder value.
About Vincent Risalvato
Mr. Risalvato, CEO of PENNEXX Foods Inc., is a Computer Scientist and entrepreneur. He has been key to creating and selling companies worth more than 20 million and products of Mr. Risalvato's design ship internationally. He is an electrical engineer, programmer and mechanical designer. His expertise is in bridging the gap between business and technology. He has also been accepted by the courts as an expert in the field of computer science and his testimony has been relied upon to determine the outcome of billion dollar cases.
Product Design Experts is as a technology development firm which focuses on creating products for its clients. Their main benefit is how widely experienced and capable they are. With this diverse experience set we are able to come at problems and solutions in a way unique to our industry. They have experience helping to develop new products and services deliverables for emerging, startup and also mature companies. www.productdesignexperts.com
About Pennexx Foods Inc. (OTC PINK:PNNX). Pennexx, through its wholly-owned subsidiaries, is a holding company within the Software/Internet Industry focused on social media, prepaid debit cards, BitGift™, artificial intelligence, targeted marketing and consumer rewards.
This press release contains forward-looking statements. The words "believe," "may," "estimate," "continue," "anticipate," "intend," "should," "plan," "could," "target," "potential," "is likely," "will," "expect" and similar expressions, as they relate to us, are intended to identify forward-looking statements. The Company has based these forward-looking statements largely on our current expectations and projections about future events and financial trends that we believe may affect our financial condition, results of operations, business strategy and financial needs. Some or all of the results anticipated by these forward-looking statements may not be achieved. Any forward-looking statement made by us herein speaks only as of the date on which it is made. Factors or events that could cause our actual results to differ may emerge from time to time, and it is not possible for us to predict all of them. The Company undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future developments or otherwise, except as may be required by law.
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SOURCE: Strategic Asset Leasing Inc.