BYND Cannasoft Announces Successful Completion of Laboratory Testing Phase for EZ-G Device Optimization
July 10 2023 - 8:30AM
BYND Cannasoft Enterprises Inc. (Nasdaq:
BCAN)
(CSE:
BYND) (“
BYND Cannasoft” or
the “
Company”) announced today the successful
completion of the laboratory testing phase aimed at optimizing the
various sensors in its innovative EZ-G device. The EZ-G device, a
therapeutic solution utilizing AI and machine learning, has shown
promise in releasing low concentrations of CBD oils, including hemp
seed oil and other natural oils, to potentially address specific
women's health issues.
Throughout the laboratory testing phase, the Company conducted
comprehensive experiments as part of the prototype development of
the EZ-G device. The focus was on assessing the functionality and
performance of the assembled sensors within the device, capable of
detecting indicators such as temperature, heart rate, contractions,
and fluids. By collecting and transferring data to the accompanying
software, the information derived from these indicators was
processed to optimize the device's usage for the user through
machine learning technology.
This crucial milestone in the EZ-G device's
development demonstrates the successful functionality of its
capacitive sensor, the primary sensor within the device. The sensor
has proven its capability to accurately detect the presence or
absence of liquid within the device, specifically identifying
changes in the fluid volume within the vagina. Consequently, the
device can regulate the flow of oil or lubricating fluid during
operation without requiring manual intervention from the user.
With the positive outcomes achieved during the
trial, BYND Cannasoft is now committed to finalizing the EZ-G
prototype model and progressing to the next phase of development:
human trials involving focus groups of women of different age
groups.
"We are thrilled with the successful completion
of the laboratory testing phase for the EZ-G device," said Yftah
Ben Yaackov, CEO and Director of BYND Cannasoft. "This
accomplishment validates our dedication to harnessing advanced
technology to improve women's health. We are excited to move
forward with human trials, as we believe the EZ-G device has the
potential to revolutionize therapeutic approaches for women's
health issues."
The Company remains committed to ensuring the
EZ-G device meets the highest safety, efficacy, and usability
standards. Through continued research and development efforts, BYND
Cannasoft aims to contribute to the well-being of women by
providing an innovative solution for targeted health concerns.
About BYND Cannasoft Enterprises
Inc.
BYND Cannasoft Enterprises is an Israeli-based integrated
software and cannabis company. BYND Cannasoft owns and markets
"Benefit CRM," a proprietary customer relationship management (CRM)
software product enabling small and medium‐sized businesses to
optimize their day‐to‐day business activities such as sales
management, personnel management, marketing, call center
activities, and asset management. Building on our 20 years of
experience in CRM software, BYND Cannasoft is developing an
innovative new CRM platform to serve the needs of the medical
cannabis industry by making it a more organized, accessible, and
price-transparent market. The Cannabis CRM System will include a
Job Management (BENEFIT) and a module system (CANNASOFT) for
managing farms and greenhouses with varied crops. BYND Cannasoft
owns the patent-pending intellectual property for the EZ-G device.
This therapeutic device uses proprietary software to regulate the
flow of low concentrations of CBD oil, hemp seed oil, and other
natural oils into the soft tissues of the female reproductive
system to potentially treat a wide variety of women's health
issues. The EZ-G device includes technological advancements as a
sex toy with a more realistic experience and the prototype utilizes
sensors to determine what enhances the users' pleasure. The user
can control the device through a Bluetooth app installed on a
smartphone or other portable device. The data will be transmitted
and received from the device to and from the secure cloud using
artificial intelligence (AI). The data is combined with other
antonymic user preferences to improve its operation by increasing
sexual satisfaction.
For Further Information please refer to
information available on the Company’s website:
www.cannasoft-crm.com, the CSE’s website:
www.thecse.com/en/listings/life-sciences/bynd-cannasoft-enterprises-inc
and on SEDAR: www.sedar.com.
Gabi KabazoChief Financial
OfficerTel: (604) 833-6820e‐mail: ir@cannasoft-crm.com
For Media and Investor Relations, please contact:
David L. Kugelman(866) 692-6847 Toll Free - U.S. &
Canada(404) 281-8556 Mobile and WhatsAppdk@atlcp.comSkype:
kugsusa
Cautionary Note Regarding
Forward-Looking Statements
This press release includes certain statements that may be
deemed “forward-looking statements” including statements regarding
the filing of a final Prospectus. All statements in this release,
other than statements of historical facts, that address future
events or developments that the Company expects, are
forward-looking statements. Although the Company believes the
expectations expressed in such forward-looking statements are based
on reasonable assumptions, such statements are not guarantees of
future performance, and actual events or developments may differ
materially from those in forward-looking statements. Such
forward-looking statements necessarily involve known and unknown
risks and uncertainties, which may cause the Company’s actual
performance and financial results in future periods to differ
materially from any projections of future performance or results
expressed or implied by such forward-looking statements. Such
statements reflect the Company's current views with respect to
future events and are subject to such risks and uncertainties. Many
factors could cause actual results to differ materially from the
statements made, including unanticipated regulatory requests and
delays, final patents approval, and those factors discussed in
filings made by the company with the Canadian securities regulatory
authorities, including (without limitation) in the company's
management's discussion and analysis for the year ended December
31, 2022 and annual information form dated March 31, 2023, which
are available under the company's profile at www.sedar.com, and in
filings made with the U.S. Securities and Exchange Commission.
Should one or more of these factors occur, or should assumptions
underlying the forward-looking statements prove incorrect, actual
results may vary materially from those described herein as
intended, planned, anticipated, or expected. We do not intend and
do not assume any obligation to update these forward‐looking
statements, except as required by law. Any such forward-looking
statements represent management's estimates as of the date of this
press release. While we may elect to update such forward-looking
statements at some point in the future, we disclaim any obligation
to do so, even if subsequent events cause our views to change.
Shareholders are cautioned not to put undue reliance on such
forward‐looking statements.
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