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Pennexx Foods, Inc. (OTC: PNNX) is a technology company within the Software /
Internet and Fintech industries. Products capitalize on the multibillion-dollar
social media market by enabling merchants to use social media to acquire,
retain and grow their customer base. YSO users scan a QR code or click a post
online, register and share that reward with their friends.
PNNX is developing prepaid debit cards which link to
its YSO program so rewards can be automatically added. YSO will also leverage
artificial intelligence (AI) to optimize and create targeted marketing
campaigns. PNNX has acquired BitGift, a company that is creating a
unique pre-paid debit card. PNNX utilizes patent pending technology and
will be submitting additional patents for example, "A system for
monetizing social influence." PNNX earns money through subscription
fees, per use charges, transactional fees and contracts with its customers.
PNNX is currently poised to reach millions of users
through its viral social media approach. PNNX helps businesses grow more
efficiently than traditional marketing campaigns. This approach decreases the
acquisition cost of acquiring new customers. Customers login through the
merchant portal to control their campaigns and view reports on the status of
their success. YSO has shown a 96% adoption rate among businesses.
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On
November 12th PNNX issued a shareholder update. PNNX
is building a strong foundation and part of that is building a strong
board of directors. CEO Vincent Risalvato is proposing two candidates who have
agreed to take a board seat if elected; they are Joseph Caruso and Phillip
Welch.
Joseph
Caruso has a history of startup business success and is a recognized
industry leader in the fields of cyber security, computer forensics and
eDiscovery. He has been featured as a technology expert regarding high profile
cases on CNN Headline News, CBS Evening News with Katie Couric, FOX Business’s
Varney and Company.
Phillip
Welch is a Certified Microsoft Systems Expert, was director of IT for a
national broadcast television network and has for nearly 20 years provided
managed IT services for hundreds of customers as President and CEO. His
background in both technology and the operational aspects of many multi-million-dollar
businesses makes him well suited to help guide PNNX to success.
PNNX
Additionally,
PNNX is proposing to change its name by removing the word
“Foods” from the name and possibly adding “Technologies”. This name change is
in accordance with the fact that PNNX is currently hosting multiple
technology projects.
PNNX has been having great success with its ongoing
development partnership projects including the development of the Cyber
Security Dashboard (CSD). The CSD will
begin collecting subscription revenue in
the fourth quarter and that profit is shared
between PNNX and Global Digital Forensics. Progress on the partnership with
Zicix has also been developing well.
PNNX management has indicated that fourth quarter
financials will start to show revenue generated through its development
partnerships. Since PNNX has just recently launched its new
dashboard which opens up a number of revenue generating e-commerce offerings, a
small amount of that revenue will also begin in the fourth
quarter. The company should begin to
show real quarter over quarter growth from here on into 2021. Additionally, PNNX
is still forging forward with its YSO debit card program.
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On
August 25th PNNX commented on the launch of its branded prepaid debit
card program. The company has been fully approved and finalizing the deployment,
such as the graphics for its customized prepaid debit card. These debit cards
will allow PNNX (YSO) to credit rewards directly into their users'
prepaid debit cards, enabling utilization online or in-store. YSO can then
propel into its Social Media Influencer program.
With
these new prepaid debit cards, the PNNX YSO will offer users a unique
and innovative method of being rewarded. YSO can continue to cultivate more
clients, as this will open the possibility of real cash rewards for sharing
offers on Facebook, Pinterest, Twitter, and other social media platforms. The
prepaid debit card will also supercharge YSO's growth through the use of social
media influencers. For the first time, social media influencers will be able to
'send' influence directly, post, and share on social media and then immediately
receive the payment to their prepaid debit card in a seamless manner.
The
FinTech market is a rapidly growing industry. According to recent research the
global market for prepaid debit cards estimated at the US $2 Trillion in the
year 2020, is projected to reach a revised size of US $.1 Trillion by
2027.
Social
media influencers reach billions of people; therefore, PNNX believes it
will rapidly reach millions of users. PNNX has been developing a range of
new features in the latest version of its Your Social Offers merchant dashboard
and user portal. The new merchant dashboard will enable users to create a
variety of new types of rewards.
For
more information on Pennexx Foods, Inc. (OTC: PNNX) visit: http://www.pennexx.net
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