VANCOUVER, British Columbia,
April 16, 2019 /PRNewswire/ --
Trackloop Analytics Corp. ("Trackloop" or the "Company")
(Canadian Securities Exchange: TOOL) (FRANKFURT: B2IP) (OTCQB:
TLOOF).
Dear Shareholders,
Thank you for your continued support of Trackloop. The last six
months have been full of exciting developments and growth for the
Company. In an effort to keep our shareholders well-informed, going
forward Trackloop will be publishing a quarterly newsletter
highlighting operational activities and corporate developments.
Trackloop was founded as a diversified technology company with
the goal of integrating hardware and software to create an all in
one solution which solves inefficiencies in the supply chain. In
the past six months the Company has achieved several key milestones
which validate our value proposition and competitive advantage in
the industry. Trackloop has strategically positioned itself as one
of the best-in-class software solutions for monitoring the quality
and traceability of food, cannabis, and other temperature sensitive
products delivery.
Our Business Model
Trackloop is an analytics software company that provides an
integrated software & hardware technology solution for tracking
and monitoring of the supply chain across multiple industries. The
Company's turnkey real-time tracking solutions offer the very
latest in IoT and AI, providing valuable data and business
intelligence to some of the world's leading brands. Trackloop has
strategic partnerships with distributors, vehicle upfitters, and
end users of the software.
The Company has a both B2B and B2C approach, selling through
distribution channels and partners, as well as directly to the end
customer. Revenue is generated through multiple streams including
end-to-end software and hardware integration, service contracts,
and a SaaS based subscription model. For the SaaS stream, users pay
for the modules they use, allowing tailored packages based on the
customer's individual requirements. Trackloop's solutions are
developed to be completely agnostic of vehicle, supply chain
operations and industry, allowing versatility, and designed with
the variance in regulations of different jurisdictions &
industries needs in mind.
The company is currently focused on applying its solution to
temperature-controlled Cannabis delivery as well as urban delivery
of fresh and frozen products.
US Regulatory Requirements
Nevada Licencing
Licenced Producers and Cultivators require regulatory approval
and licensing for their operations to be deemed legal and to
commence business. In the state of Nevada, the final approval process requires
all applicants to purchase a delivery vehicle equipped with the
appropriate tracking software and for this vehicle to be inspected.
Trackloop's partnership with companies like Volta Air Technology
and Thermobile outlined below, give the company a strategic
advantage through state mandated requirement for traceability
solutions which Trackloop provides.
California METRC Approval
Trackloop is a verified California METRC software vendor with
its fully functional API integrated with the State mandated
compliance platform. Trackloop is the first company with a cold
chain tracking solution approved by METRC in California. The Company's platform enables the
instant and automated recording of all transactions, quality
control, deliveries, pick-ups & drop-offs, and movement of
shipments. In addition, Trackloop's solution offers native
scheduling and API integration with other scheduling platforms,
alongside its flagship temperature-controlled and location
tracking module. No other METRC approved vendor in
California has these capabilities
in a single, integrated solution.
Trackloop's track & trace technology and documentation
module is developed to be fully compliant with the METRC and BCC
(Bureau of Cannabis California) requirements for transportation and
distribution of Cannabis in the state of California. METRC represents a new standard
for cannabis traceability, requiring cannabis producers and
transportation companies to hold 90-day records of all product
movement. Similar requirements are expected to be enforced in other
jurisdictions in North America.
Trackloop's extended dealer network in California provides a strategic advantage for
customer acquisition putting the Company at the forefront of the
SaaS providers for the cannabis industry.
Supply Chain Mapping and Analytics
Trackloop has just launched our supply chain mapping platform,
which analyzes the entire product supply chain from source to
destination, providing real-time visibility of product movement
along the supply chain. The platform allows our customers to move
away from paper-based records, high-priced administration work, and
complex enterprise software packages. Several collaboration
agreements are underway to deploy this platform for regulators, LPs
and testing labs in the Cannabis industry.
This solution provides robust, real time visibility of the
supply chain, and all key enterprises involved in the production
and distribution of product. The fully interactive analytics map
allows a very granular and detailed view of all enterprises and
their involvement in the supply chain. In the event of
contamination & recall, Trackloop's solution can identify the
point of failure accurately and efficiently, dramatically reducing
the time required to pinpoint and contain the product affected. The
platform also allows for pre-emptive containment through the use of
advanced protocols and data analytics from previous events. View
the Supply Chain Mapping and Analytics solution Here, and Try a
Demo.
This tool has been used by regulators and municipalities for
transportation, health-tech and clean-tech, and will be used in the
cannabis supply chain in California & Canada.
Recent Customer Success
Multi-Year Distribution Agreement
Trackloop has signed a multi-year distribution agreement with
Volta Air Technology and Thermobile, a Southern California based delivery vehicle
retrofitter, focusing on refrigerated delivery vans for multiple
use cases and industries, including Cannabis and Food. The
agreement will open a strategic sales channel in California, enabling the Company to scale the
delivery of logistics and cold chain tracking technology in a key
target market.
Thermobile specializes in insulated and refrigerated delivery
vehicle systems for General Motors Company (NYSE: GM), Ford Motor
Company (NYSE: F) and Nissan Motor Co Ltd (TYO: 7201). Volta Air
Technology builds full electric & zero emission refrigeration
units made for sustainable urban delivery vehicles used by SPUD.ca
which is currently managing Walmart's (NYSE: WMT) home delivery in
Canada via its subsidiary
FOOD-X.
California Cannabis Traction
California is the biggest
Cannabis market in North America,
set to reach $7 Billion by 2022.
Analysts at Cowen & Co. believe the nation's legal cannabis
industry could reach $50 billion by
2026, with California accounting
for about $25 billion of that market,
according to CFN Media. Trackloop has a significant expanding
footprint in California partnering
with some of the largest cannabis urban delivery providers in the
state. Through these partnerships, Trackloop tracking technology is
installed on delivery vehicles used by major processors and
distributors within the Cannabis value chain. Trackloop's turnkey
solution ensures quality and freshness of product as well as real
time tracking for customers and regulators.
Broader Industry
Distributors
The Company has key distributors in California, who provide Trackloop's products
to the end user through their sales channels. Nor-Cal Vans is a
certified Ford Qualified Vehicle Modifier, that upfits vehicles for
transportation and logistics. Nor-Cal Vans use Trackloop's module
as the tracking unit for refrigerated transport vehicles upfitted
for their customers. Through these channels, the Company is able to
scale its footprint and grow with lower marketing efforts and
costs. Trackloop also has agreements with smaller distributors in
California.
Trackloop Software used in BYD's All Electric Refrigeration
Vehicle
In collaboration with Volta Air Technologies and BYD Company Ltd
(SHE: 002594, OTC: BYDDF), Trackloop's proprietary temperature
monitoring software was deployed in one of the first all-electric
refrigeration delivery vehicles, demonstrated for commercial use in
North America. BYD Motors is the
largest electric vehicle manufacturer in the world, with plans to
offer all-electric refrigeration delivery vehicles throughout
North America - Berkshire Hathaway
Inc. (NYSE: BRK.A) is one of its largest shareholders. The
demonstration vehicles use Volta Air's latest transport
refrigeration unit equipped with Trackloop's real-time cold-chain
monitoring and tracking software to create zero-emissions
refrigerated delivery vehicles.
This collaboration represents a disruptive solution which will
be alternative to conventional refrigeration units for urban
delivery vehicles. Most delivery vehicles used commercially are
either gas-powered or diesel-powered and consume a significant
amount of fuel. Trackloop's software allows users to monitor and
control all systems related to operation of the refrigeration unit,
used for urban delivery of fresh and frozen products, as well as
scheduling, inventory management, door opening, drop-off / pick-up
and real-time location tracking. A commercial demonstration is
currently underway with two vehicles by Baldor Specialty Foods in
New York, and Raley's Supermarkets
& D&D Produce in California.
I once again thank you for your continued support. I hope that
this provides you with increased clarity on the Company's efforts
and confidence that Trackloop is well on the way to positioning
itself as the leading SaaS tracking platform for the logistics
industry.
Regards,
Zayn Kalyan
CTO
About TrackLoop Analytics Inc.
TrackLoop Analytics (TOOL) is an analytics software company that
is leveraging digital asset technology to transform and modernize
multiple industries. TrackLoop is taking a diversified approach to
the analytics and technology space, delivering practical solutions
in the finance, logistics, cannabis, and pharmaceutical industries.
The Company's turnkey real-time tracking solutions offer the very
latest in IoT and AI, providing valuable data and business
intelligence to some of the world's leading brands.
TrackLoop is a publicly-traded company listed on the Canadian
Securities Exchange (CSE); trading symbol TOOL (C.TOOL or TOOL.cn).
For more information about the company please contact us at
+1-778-938-3367.
Forward-Looking Information
Forward-Looking Information This news release contains
forward-looking information based on current expectations.
Statements about the Company's plans and intentions, signing
contracts, potential revenues, expansion into the U.S. market,
other potential transactions, product development, events, courses
of action, and the potential of the Company's technology and
operations, among others, are all forward-looking information.
Forward-looking statements consist of statements that are not
purely historical, including any statements regarding beliefs,
plans, expectations or intentions regarding the future. Such
information can generally be identified by the use of forwarding
looking wording such as "may", "expect", "estimate", "anticipate",
"intend", "believe" and "continue" or the negative thereof or
similar variations. The reader is cautioned that assumptions used
in the preparation of any forward-looking information may prove to
be incorrect. Events or circumstances may cause actual results to
differ materially from those predicted, as a result of numerous
known and unknown risks, uncertainties, and other factors, many of
which are beyond the control of the Company, including but not
limited to, business, economic and capital market conditions; the
ability to manage operating expenses, which may adversely affect
the Company's financial condition; the ability to remain
competitive as other better financed competitors develop and
release competitive products; regulatory uncertainties; market
conditions and the demand and pricing for products; security
threats; relationships with its customers, distributors and
business partners; the ability to successfully define, design and
release new products in a timely manner that meet customers' needs;
the ability to attract, retain and motivate qualified personnel;
competition in the industry; the impact of technology changes on
the products and industry; failure to develop new and innovative
products; the ability to successfully maintain and enforce our
intellectual property rights and defend third-party claims of
infringement of their intellectual property rights; the impact of
intellectual property litigation that could materially and
adversely affect the business; the ability to manage working
capital; and the dependence on key personnel. TrackLoop may not
actually achieve its plans, projections, or expectations. Such
statements and information are based on numerous assumptions
regarding present and future business strategies and the
environment in which the Company will operate in the future,
including the demand for its products, the ability to successfully
develop software, that there will be no regulation or law that will
prevent the Company from operating its business, anticipated costs,
the ability to achieve goals. Given these risks, uncertainties and
assumptions, you should not place undue reliance on these forward
looking statements.
Factors that could cause the actual results to differ materially
from those in forward-looking statements include, failure to obtain
regulatory approval, the continued availability of capital and
financing, the impact of technology changes on the industry,
competition, security threats, consumer sentiment towards
TrackLoop's products, services and blockchain technology generally,
failure to develop new and innovative products, litigation,
increase in operating costs, lack of demand for TrackLoop's
products and services, increase in labor costs, failure of
counterparties to perform their contractual obligations, government
regulations, loss of key employees and consultants, and general
economic, market or business conditions. Forward-looking statements
contained in this news release are expressly qualified by this
cautionary statement. The reader is cautioned not to place undue
reliance on any forward-looking information.
The forward-looking statements contained in this news release
are made as of the date of this news release. Except as required by
law, the Company disclaims any intention and assumes no obligation
to update or revise any forward looking statements, whether as a
result of new information, future events or otherwise.
Additionally, the Company undertakes no obligation to comment on
the expectations of, or statements made by, third parties in
respect of the matters discussed above.
The CSE has not reviewed, approved or disapproved the content of
this news release.
This news release does not constitute an offer to sell or a
solicitation of an offer to buy any of the securities in
the United States. The securities
have not been and will not be registered under the United States
Securities Act of 1933, as amended (the "U.S. Securities Act") or
any state securities laws and may not be offered or sold within
the United States unless
registered under the U.S. Securities Act and applicable state
securities laws or an exemption from such registration is
available.
For more information about the company please contact us at
Zayn Kalyan
Chief Technology Officer
+1-778-938-3367
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