LiteLink Technologies Issues Letter to Shareholders
VANCOUVER, British Columbia, Dec. 02, 2019 (GLOBE NEWSWIRE) -- LiteLink Technologies Inc. (“LiteLink”) (CSE:LLT) (OTC:LLNKF) (FRA:C0B), a key player in logistics platforms and payment solutions, is pleased to provide the following letter to shareholders from LiteLink Chief Executive Officer Ashik Karim.
It is my honor to write my first letter to you as chief executive of LiteLink Technologies Inc. (LiteLink), following a year of innovation, market expansion and exciting growth. We are staying true to our mission and core values that we have built at LiteLink over the past 18 months. 2019 was a building period both from a products and customer trust perspective, with many intentional and impactful moves. We navigated through two major industries experiencing profound disruption in business behavior.
1SHIFT in 2019 — Learning, Development, & Deployment
We continue to see trucking and carrier fleets shut down faster than any year before. Yet in the face of such headwinds, we continue to gain momentum and global interest in our logistics platform. With global costs of logistics getting squeezed down to maintain survival, the LiteLink 1SHIFT logistics brand continues to resonate with trial and commercial customers.
Fiscal 2019 also was an inflection point in our journey to discover on product development, product market fit, and our ability to extend our product offering across Canada, U.S. and Latin America. We have recently made acquisitions that have filled significant market holes in the logistics sector that we discovered during our journey this year, and we are excited to accelerate and move from market fit analysis to growth in the coming year. There is no question that our future growth plans focus on disruption in IOT hardware and sensors, technology, market value, and market differentiators.
With the 1SHIFT Logistics platform commercialization being our core focus at LiteLink, we have learned from the market, understood pricing fit, and trialed with real customers across North America with success. We are now rolling out the final stages of a subscription model that will allow customers to enter credit card information and activate their account all in a self service, streamlined model that will require little to no customer support from our end. In anticipation of growth in 2020, we have also enabled a full remote customer support tech support solution, that allows us to take control of any device to troubleshoot any customer from the comfort of our BC-based office.
1SHIFT in 2020 — Expansion & Growth
Our focus in 2020 is to increase revenue, market adoption, and integration into market leading logistics platforms that already have major customer bases to accelerate our growth. With uBUCK (to be discussed further down), our focus is country by country roll-out of our technology to gain mass adoption one customer at a time.
We have made critical announcements in 2019 to support our growth into 2020 that include the rollout of our core market offerings in logistics within the nursery, produce and route optimization areas. Following those roll-outs, LiteLink secured a partnership with Pommes-Ma-Gic, a 100 year old produce company out of Quebec not only as a customer, but a strategic growth partner to support our Canadian market penetration. Moreover, we have also secured Brookdale Nurseries, one of Canada’s largest nurseries that supplies Costco, Home Depot and other large retailers with Christmas trees and other live-tree products. We have expanded our sales team from 0 to 4 core members responsible for geographical territories, which has generated leads, trials and customers that will be an integral part of our growth in 2020. In the IoT connected devices industry, we have also made headway of finalizing two of our own hardware device types that will add real-time visibility to the logistics industry that will be rolling out early 2020 with its own subscription model.
uBUCK — Leveraging a Growth Market
With our majority owned subsidiary uBUCK Technologies SEZC, we solidified both our mission and product fit, and most importantly our strategic service providers and rates to ensure our market launch remains market competitive in the digital remittance and debit card issuance business. We focused on building out our digital mobile wallet with simplicity, adaptability and profitability. With geographical analysis, regulation and compliance fit, this journey did take more time than we anticipated, however, rest assured, our intention is to launch uBUCK this year having mitigated risks inherent to a highly regulated business sector. One of our critical growth factors announced this year was our strategic commercial agreement with Deltec Bank that solidified our first commercialization, validating our unique offering that financial institutions can see value in. We announced $400,000 USD in private funding for the entity that owns uBUCK, at a $25 million valuation, which LiteLink will continue to own a majority stake in. We will continue to push commercializing uBUCK payments for the rest of 2019 in order to pave the way for accelerated growth in 2020.
With extensive research and development completed to move the uBUCK Digital Wallet and the 1SHIFT Logistics platform from vision to commercialization, we strongly believe we are now ripe for market differentiation and growth.
LiteLink Open House
We intend to host an open-house early January at the LiteLink headquarters in Burnaby, British Columbia to provide full demonstrations of both of our products, celebrate a pivotal launch, and showcase customer testimonials. In addition, our entire leadership team will be available for Q&A.
Thank you for being loyal shareholders at LiteLink. You are the reason we stand here today, and have enabled LiteLink to become a major industry disruptor for 2020.
Yours truly,Ashik KarimCEOLiteLink Technologies Inc.
About LiteLink Technologies Inc. LiteLink Technologies Inc. (CSE:LLT) (OTC:LLNKF) (FRA:C0B:FF) is a major player in developing world-class enterprise platforms that utilize artificial intelligence, blockchain, and predictive analytics to solve fragmented and outdated technology problems in the logistics and digital payment industries. Our flagship 1SHIFT logistics platform offers real-time transparency and tracking which allows brokers, shippers, and carriers to track shipments and settle payments in real-time.
For further information, contact Yana Bobrovskaya at 604-307-2553 or email email@example.com.
The Canadian Securities Exchange, nor its Regulation Services Provider, has not reviewed or approved the contents of this letter.
Cautionary Statement Regarding Forward-Looking StatementsThis news release may contain certain forward-looking statements and information (together, “forward-looking statements”) within the meaning of the United States Private Securities Litigation Reform Act of 1995 and applicable Canadian securities laws. When used in this news release, the words “will”, “anticipate”, “believe”, “estimate”, “expect”, “target”, “plan”, “forecast”, “may”, “schedule” and other similar words or expressions identify forward-looking statements or information. These forward-looking statements or information may relate to the nature of the business of LiteLink, intended plans and anticipated success in the year 2020 and beyond and other factors or information. Such statements represent LiteLink’s current views with respect to future events and are necessarily based upon a number of assumptions and estimate that, while considered reasonable by LiteLink, are inherently subject to significant business, economic, competitive, political and social risks, contingencies and uncertainties. Many factors, both known and unknown, could cause results, performance or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward-looking statements. LiteLink does not intend and does not assume any obligation to update these forward-looking statements or information to reflect changes in assumptions or changes in circumstances or any other events affections such statements and information other than as required by applicable laws, rules and regulations.