Life on Earth, Inc. Signs
Binding Letter of Intent to Acquire SmartAxiom,
Inc.
NEW YORK, NY
-- March 3, 2021 -- InvestorsHub NewsWire
-- Life
on Earth, Inc. (OTC
Pink: LFER) (the
"Company"), announces today that it has signed a binding Letter of
Intent (as disclosed in Form 8-K) to purchase 100% of the issued
and outstanding shares in SmartAxiom, Inc. ("SmartAxiom"),
including all intellectual property, existing software
infrastructure, and current customers. SmartAxiom is a California
based IoT cybersecurity software company founded by Amit Biyani,
who with his team have decades of experience in embedded system
engineering, security, blockchain, data analytics, technology
marketing and solution sales, contributing to the success of
industry leaders such as Broadcom, Intel, ARM and
NXP.
Smart's
Axiom's software manages and secures IoT systems through patented,
lite blockchain technology, running among those devices at the edge
of the Internet – enabling them to defend themselves. Upon closing
the SmartAxiom acquisition, SmartAxiom will operate as a wholly
owned subsidiary of Life on
Earth.
Statement
from Mr. Mahmood Khan, Chief Executive Officer of Life
on Earth, Inc.:
"I am pleased to announce that as
my first task as the Company's new CEO, I have evaluated potential
acquisitions to enter into the Cloud Enterprise software,
technology based
security and IoT Solution space.
Having spent decades in the industry, I am very familiar with
enterprise cloud applications, and the people necessary to make
things happen quickly. Based on what we saw with SmartAxiom and
what Amit Biyani, and his team, have been able to achieve in the
past few years, I recommended to the board that we acquire
SmartAxiom. This acquisition is to jumpstart our entry into the
software and technology industry. SmartAxiom has already garnered
customer interests and is developing businesses and revenues. We
believe that this is the right direction for us versus simply
acquiring assets from third parties, that would require additional
productization expenses for the Company, in order to generate the
first revenue sources. We truly believe that an acquisition of
SmartAxiom speeds up our plans by almost a full year. We're excited
about this opportunity for our investors and stakeholders. I will
be updating our shareholders with a new corporate deck as well as
doing some pod cast interviews, where I will lay out the details of
our plans going forward."
Statement
from SmartAxiom Inc founder, Amit Biyani:
"I
am very excited to be working with the LFER team. This acquisition
will be used to accelerate the productization and deployment of
vertical solutions based on our patented blockchain and core
technologies – enabling us to better satisfy a broader range of
customers and partners more quickly. This will also enable us to
realize our vision to be the de facto standard for securing the
Internet-of-Things through decentralized blockchain technologies,
thus making it all safer, faster and more
efficient."
The SmartAxiom acquisition is
subject to a definitive agreement and LFER's due diligence, the
terms, new executive team, and company description of which will be
disclosed in Form 8-K upon closing of the
transaction.
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.