This document corrects and updates the quote in the third paragraph for the press release issued earlier today. No material changes were required in the body of the release.
New York, New York--(Newsfile Corp. - March 3, 2021) - 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 podcast interviews, where I will lay out the details of our plans going forward."