Life
On Earth (LFER) Provides Shareholder Update and 2022
Outlook
New York, NY -- January
26, 2022 -- InvestorsHub NewsWire -- Life On Earth Inc, (OTC
Pink: LFER) ("LFER" or "The Company"), a software and
technology company, announced today a Shareholder Update and 2022
Outlook provided from Mahmood Khan,
CEO.
Dear Fellow
Shareholders:
With all the challenges we
have faced in 2021 (from dealing with COVID-19, the Delta and now
Omicron variations, causing health, safety, and employee-related
challenges; supply chain issues; inflation and other uncertainties
in our economy), I am pleased to tell you that we have continued to
make significant progress since my last update to you, which will
be highlighted in this shareholders letter.
The Company will, going
forward, update our shareholders more frequently not only through
these shareholders letters, but also with business development
announcements resulting from the initiatives we took in late
2021.
First, we have made very
significant improvements during the last two quarters to our
balance sheet compared to the previous several quarters. Second, we
completed the initial closing of the acquisition of the CareClix
group of companies, comprised of four subsidiaries. This
acquisition puts us smack in the middle of a revolution that is
taking place in the Digital Healthcare industry. This industry has
taken on a life of its own during the past few years as a result of
the Corona Virus Pandemic. Third, we are on track to grow our Cloud
based offerings to expand our business model, with the ultimate
goal of up-listing the Company.
The Balance Sheet
Improvements:
Over the last twelve
months, we have made significant improvements to our balance sheet
by substantially reducing debt, while raising funds (via the Series
C) in a non-toxic manner.
As reported in our Second
Quarter, Fiscal Year 2022, 10-Q filing for the period ending
November 30, 2021, our Liabilities have been reduced from
$9,881,135 in May 31, 2021 to $5,492,229 at November 30, 2021I,s a
reduction of $4,388,906, or more than 44%.
The Company's
Shareholders' Deficiency also was reduced by an impressive 84% from
a negative $4,661,791 to only negative $752, 691 at November 30.
2021, an improvement of over $3.9 Million.
For Details see The Life On Earth, Inc. Form 10Q
for The Quarter Period Ended November 30,
2021
The Current
Status:
We are a technology and
software company. Every business today requires software to stay
alive. Software is the key driver for automation, higher
productivity and higher margins. As a software company we have
always looked to leverage our core strengths in cloud-based
software and uncover opportunities in this space. When CareClix,
with its Digital Healthcare platform and a portfolio of offerings,
was presented to us as an acquisition opportunity, we carefully
evaluated the software and its future potential. After careful due
diligence, we decided to go ahead with the deal on terms that we
felt were mutually beneficial for shareholders of both companies.
We saw that we could add significant synergies and value in
combining the two teams and open potential future businesses. We
can already see tangible improvements in our operational talents
and strengths.
As we move forward with
the full consolidation and integration of the CareClix operations,
as wholly owned subsidiaries of LFER, we are pleased with the
significant progress that CareClix made since its last published
financials back in 2019. When we are able to release the financial
statement of our new subsidiaries on completion of the pending
audits,, we believe that our shareholders will be pleasantly
surprised at the revenues that we will have added to our combined
company. We feel confident that our current pace of revenues (on a
consolidated basis with CareClix) will have surpassed the revenues
that LFER was achieving back in 2018 when it was operating as a CPG
company in a much less attractive industry from a valuation
standpoint. This is a major achievement.
The Significance
of CareClix Acquisition:
The significance of this
acquisition is in our quest for rapid growth. Telemedicine and
Digital Healthcare platform solutions and services are growing
rapidly. According to CB Insights State of the Digital Health, Global
2021 report, the global Digital Health industry is growing
at a healthy clip of 20% YoY and is approaching $45 billion
worldwide. There are many new startups but only three Telemedicine
providers represent more than 77% of the market. There is also a
frenzy of M&A in this space. There are many key
requirements and improvements sighted in The risks and Benefits of Telehealth in The
Future of Healthcare report by The Doctors Company (see
www.thedoctors.com). The key areas of growth and elimination of
pain points are: Functionality (i.e. use cases with features and
functions); Integration (with many services and support providers
and medical services specialists); Payments and Methods (this is a
particularly complex area ready for technological reform); and
Compliance, as the top four, with a few more to consider as niches.
For us, these are all reachable opportunities and spell growth.
CareClix' portfolio includes a cloud-based platform and portfolio
of services targeted at specific growing markets. In all the
markets, the Software and the
teams are the keys for scalability, innovation and
rapid growth. In the next few months, we plan to take full
advantage of our new capabilities and accelerate growth by
leveraging our strength in the Cloud Based software technologies,
and the combined operational capabilities of our
teams.
Telemedicine and
Virtual Health: What is it?
The New Yorker magazine in
the June 29, 2020 edition, described "In a narrow sense, the word
"telemedicine" can mean the type of hardwired hospital-to-clinic
setup that allows workers in a large hub hospital to assist in
complex emergency procedures in distant spokes." Sources: The Promise and Peril of Virtual
Healthcare
Virtual healthcare or
Digital Healthcare is comprised of interactions between individual
doctors and patients via a HIPAA compliant, secure audio-visual
technology. This model of healthcare is not new, but rather has
been perfected to serve a broader market than had previously not
been served effectively. Digital Healthcare is comprised of virtual
interactions between doctor and patient where the patient and
doctor use audio-visual technology to interact instead of an
in-person visit.
Digital Healthcare
consists of live remote visits with a clinician, as opposed to
Telehealthcare, which is a broader term encompassing Telemedicine
plus remote monitoring, asynchronous data collection, and a variety
of other incorporations of technology into nonclinical patient and
professional health related areas.
CareClix group addresses
the full spectrum of Digital Healthcare. Let me briefly describe
the CareClix businesses which are now subsidiaries of
LFER:
- CareClix,
Inc:
CareClix, Inc is a digital
healthcare development company centered around the CareClix®
virtual telehealth platform. The CareClix Anywhere™ platform was
originally created in 2012 by physicians for physicians and,
throughout its 10-year history, development has been led by
licensed and practicing physicians—making CareClix® a unique
virtual healthcare delivery platform. Currently the CareClix®
virtual telehealth platform is recognized worldwide as one of the
most complete telehealth platforms for medical service
providers.
- CareClix Services
Inc:
CareClix Services Inc is a
leading telemedicine solutions firm which combines software
applications and a multispecialty medical network for a wide
variety of health care services stakeholders. By combining the
software platform with medical services, CareClix is
revolutionizing the way hospitals, doctors, and clinical care
providers can interact with an increasing number of patients with
increasing amounts of data. CareClix' suite of services is trusted
by some of the best names in healthcare with more than 20 million
individuals in the U.S. and 35 other countries currently having
access to CareClix' telehealth platform or
services.
- MyCareClix,
Inc:
MyCareClix is a
direct-to-consumer family health and wellness company. Starting in
early 2022, MyCareClix will be offering the suite of CareClix
services directly to consumers. For a small monthly subscription
fee, both individual and family consumers in the US will have
access to the CareClix Network of primary care and specialty
doctors, as well as access to testing, prescriptions, and
ship-to-home medical products
- CareClix RPM,
Inc:
CareClix RPM will
distribute and monitor FDA approved healthcare devices for remote
patient monitoring and chronic care management utilizing the
CareClix Anywhere™ platform to track and report monitored patient
data. CareClix RPM, Inc will create turnkey solutions for providers
seeking to start or expand their remote patient monitoring, remote
therapeutic monitoring or chronic care management programs.
Beginning in 2022, CareClix RPM will procure and distribute devices
and offer a multi-lingual patient engagement team with qualified
medical oversight and thorough reporting for billing and care plan
administration.
The Next three
quarters and Our Ultimate Goal:
Our ultimate goal is to be
the company known for Cloud based software and technology and
enable secure solutions for the world Telehealth platform of
services in Digital healthcare and
Telemonitoring.
As we finalize the
CareClix acquisition we are taking the last steps of fully
consolidating our companies which include filing an S4
registration, electing new board members, integration of the
management teams, enhancing the software, portfolio of services and
expanding our market position worldwide. Our plans will be focused
on our Telehealth platform, digital healthcare, remote patient
monitoring, personal consultative medical services firmly grounded
on our software technology platform with PaaS and SaaS offerings.
In this vein, we are engaging outside parties to help scale the
CareClix businesses, both organically and possibly through further
M&A. This will allow LFER to engage with the right sponsor(s)
in order to help LFER up list the company this
year.
When I joined the Company
in February 2021, my goal, and the reason why I got involved with
my own personal investment, was to clear the path to up-list the
Company to either the NASDAQ or the
NYSE. As we continue with this strategy, we will
make periodic announcements about our progress.
With the help of our
previous stakeholders as well as our new partners and with the
necessary resources, we continue on the journey of transition. We
are on our way to our aspirational goal of becoming the Cloud-based
solution for the Telehealth platform, Digital Healthcare,
and Telemonitoring. We plan to add additional
industry specific solutions with automation, AI/ML and other
industry innovations. We intend to grow both organically as well as
inorganically in the fast-moving, high growth, global Digital
Healthcare market place. We are in the process of rapidly expanding
our solution globally, acquiring new customers, suppliers and
deliver partners.
I and the extended LFER
Team are committed to the above goals.
Thank you for being a
shareholder and I look forward to sharing the upcoming
announcements regarding the Company's future
developments.
Best
regards,
Mahmood
Khan
Chief Executive
Officer
Life On Earth,
Inc.
www.lifeonearthinc.com
www.smartaxiom.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.
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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