New York, New York--(Newsfile Corp. - May 26, 2021) - Life On Earth, Inc. (OTC Pink: LFER) (the "Company"), has released its latest Letter to Shareholders from its Chief Executive Officer. Below are some of the highlights from the letter:
Excerpt from the CEO's Letter to Life On Earth, Inc. (LFER) shareholders discloses the following:
"In brief, we are looking at global market of approximately $1.3 Trillion by 2026 with deployment of IoT devices in the range of 5-6 billion annually within the foreseeable next few years.
So, you may be asking, what are our advantages and how we will position ourselves to capitalize on this opportunity and realize our ultimate goals? Let me share some insights and our strategy to capture a significant part of the emerging market in the following.
First, let me briefly describe the problem the world economies engaged in the global economic activities are faced with. The single biggest problem is cyber security, or more accurately, the lack of it. The cyber security vulnerabilities in the IoT based solutions are unbelievable! Of the 30 billion + IoT devices currently in deployment globally, about 25 billion are vulnerable to cyber hacks, according to ARMIS Inc. 2020 Report. Only a few billion devices are adequately secured. Moreover, this matter is getting worse as more and more IoT devices are being deployed at a fast rate as reported above. The highest vulnerabilities are in the edge devices - the sensors, gateways, controllers, and communication devices that can push and pull billions of transactions every second. The "man in the middle" (machines and/or individuals) is the global internet looking for opportunities to disrupt businesses around the world (just for fun, pirate IP, data, or hack in and pull/or inject false data, etc.). Some attacks, when successful in penetrating the mission critical business applications, have caused serious and sometimes irrecoverable damage to the businesses often causing millions of US dollars per incidents as reported by Nicole Eagan, CEO of Darktrace, "The attackers used the smart thermometer in a fish tank to get a foothold in the network. They then found the high-roller database and then pulled that back across the network, out the thermostat, and up to the cloud." Scott Ferguson, Bank Info Security reported, "attackers were able to access Target … from a third-party HVAC vendor…$292 million in breach-related expenses" and Kim Zetter, of Wired reported, "Hackers struck a German steel mill by manipulating and disrupting control systems to such a degree that a blast furnace could not be properly shut down, resulting in 'massive' damage." Some have even successfully demanded millions of dollars (aka the recent pipeline case in the USA). Unfortunately, you can be sure, there are more such attacks to come causing major disruptions to our economy and national security. Yes, this problem is elevated to that level and requires major overhaul of our national infrastructure. A sobering thought!'