New York, New York--(Newsfile Corp. - May 26, 2021) - Life On Earth, Inc. (OTC Pink: LFER) (the "Company"), has released its latest Letter to Shareholders from its Chief Executive Officer. Below are some of the highlights from the letter:
Excerpt from the CEO's Letter to Life On Earth, Inc. (LFER) shareholders discloses the following:
"In brief, we are looking at global market of approximately $1.3 Trillion by 2026 with deployment of IoT devices in the range of 5-6 billion annually within the foreseeable next few years.
View full shareholder letter HERE.
So, you may be asking, what are our advantages and how we will position ourselves to capitalize on this opportunity and realize our ultimate goals? Let me share some insights and our strategy to capture a significant part of the emerging market in the following.
The Problem:
First, let me briefly describe the problem the world economies engaged in the global economic activities are faced with. The single biggest problem is cyber security, or more accurately, the lack of it. The cyber security vulnerabilities in the IoT based solutions are unbelievable! Of the 30 billion + IoT devices currently in deployment globally, about 25 billion are vulnerable to cyber hacks, according to ARMIS Inc. 2020 Report. Only a few billion devices are adequately secured. Moreover, this matter is getting worse as more and more IoT devices are being deployed at a fast rate as reported above. The highest vulnerabilities are in the edge devices - the sensors, gateways, controllers, and communication devices that can push and pull billions of transactions every second. The "man in the middle" (machines and/or individuals) is the global internet looking for opportunities to disrupt businesses around the world (just for fun, pirate IP, data, or hack in and pull/or inject false data, etc.). Some attacks, when successful in penetrating the mission critical business applications, have caused serious and sometimes irrecoverable damage to the businesses often causing millions of US dollars per incidents as reported by Nicole Eagan, CEO of Darktrace, "The attackers used the smart thermometer in a fish tank to get a foothold in the network. They then found the high-roller database and then pulled that back across the network, out the thermostat, and up to the cloud." Scott Ferguson, Bank Info Security reported, "attackers were able to access Target … from a third-party HVAC vendor…$292 million in breach-related expenses" and Kim Zetter, of Wired reported, "Hackers struck a German steel mill by manipulating and disrupting control systems to such a degree that a blast furnace could not be properly shut down, resulting in 'massive' damage." Some have even successfully demanded millions of dollars (aka the recent pipeline case in the USA). Unfortunately, you can be sure, there are more such attacks to come causing major disruptions to our economy and national security. Yes, this problem is elevated to that level and requires major overhaul of our national infrastructure. A sobering thought!
The Solution:
This brings me to our solutions and how they solve our customers' vulnerabilities by bullet proofing their IoT business environment with patented IoT technologies. SmartAxiom has developed complete end-to-end solution for multiple industries with Supply Chain Management, Warehouse and Asset Management, and Industrial IoT solutions. These solutions are 'spot on' to serve the fastest-growing IoT base edge computing, mobility (tracking and visualizing distributed assets) and manufacturing Industry IoT solution markets. We shall be accelerating and driving these solutions to penetrate this high growth area of the industry. Let me briefly describe the technologies and solutions we are focused on.
SmartAxiom's Patented Technologies: SmartAxiom has been granted four major patents:
First, Pub. No.: US 2019/0036906 Al, Pub. Date: Jan. 31, 2019.
Second, Pub. No.: US 2019/0253434 Al, Pub. Date: Aug. 15, 2019.
Third, Pub. No.: US 2019/0273623 Al, Pub. Date: Sep. 5, 2019.
Fourth, Patent No.: US 10,924,466 B2, Pub. Date of Patent: Feb.16,2021
These patents are the core software technologies that form the basis of 'bullet proofing' IoT solution to secure our customer's enterprise solutions to enable: (a) an architecture for a security framework based on Blockchain specifications; b) a method and system for managing and securing distributed ledger for a decentralized peer-to-peer (p2p) network; c) a system for a shared and synchronous time series identification that matches a hardware clock-generating signal of a blockchain identified node device, with a generated data event time stamp and shared by all computing nodes participating in a complete system based on a blockchain design pattern and protocol; d) a method and system for enabling IoT security using a decentralized IoT security platform that leverages the advanced communication and blockchain security thread model to protect IoT eco-systems. With these unique core capabilities, a system with IoT solutions with these characteristics can be safely characterized as 'hack proof' in the cloud based distributed business environment. Moreover, it has been proven by our customers based on our platform technology partner, Renesas (TSE: 6723) and IBM."
For more information, please read the 8K filed with the SEC on March 26, 2021 or download the Shareholders' Update Letter at https://www.lifeonearthinc.com.
About Life On Earth, Inc.
Life On Earth, Inc. ("LFER") is a Cloud Enterprise software developer and a provider that enables rapid innovation that keeps the Cloud enterprise operations safe, compliant and manageable. The products were designed to help organizations innovate and modernize legacy systems while minimizing cost and risk of business disruptions and ensure regulatory compliance. For more information, please visit our corporate website - www.lifeonearthinc.com.
Investors and corporate inquiries, please contact: info@lifeonearthinc.com | (646) 844- 9897
About SmartAxiom, Inc.
SmartAxiom's software manages and secures IoT devices through patented, lite blockchain technology running among those devices at the edge of the Internet - enabling them to defend themselves. Our peer-to-peer distributed ledgers improve security, latency, reliability, and manageability. We uniquely create the first true endpoint-to-cloud blockchain solution, while our IoT Smart Contracts push intelligence to the edge. SmartAxiom technology is proving valuable in many verticals such as smart buildings, manufacturing lines, in vehicles and shipment tracking. It interoperates with enterprise systems such as IBM Blockchain and Microsoft Azure and is proven on many ARM and Intel based microcontrollers such as those from Intel, NXP, Renesas, Marvell, and Broadcom. www.smartaxiom.com
Safe Harbor Act
Forward-Looking Statements: This release contains statements that constitute forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These statements appear in a number of places in this release and include all statements that are not statements of historical fact regarding the intent, belief or current expectations of Life on Earth, Inc. its directors or its officers with respect to, among other things: (i) financing plans; (ii) trends affecting its financial condition or results of operations; (iii) growth strategy and operating strategy. The words "may," "would," "will," "expect," "estimate," "can," "believe," "potential" and similar expressions and variations thereof are intended to identify forward-looking statements. Investors are cautioned that any such forward-looking statements, including those relating to the Company's financing being adequate for the Company to develop and market its software products, and to launch its growth and expansion plans, among others, are not guarantees of future performance and involve risks and uncertainties, many of which are beyond Life on Earth, Inc.'s ability to control, and actual results may differ materially from those projected in the forward-looking statements as a result of various factors. No information in this press release should be construed in any way whatsoever as an indication of Life on Earth, Inc.'s future revenues, financial performance or stock price. More information about the potential factors that could affect the business and financial results is and will be included in Life on Earth, Inc.'s filings with the Securities and Exchange Commission at www.sec.gov.
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