BYND:CC - CEO Periodic Update for 2024 and Review on the Market of the Growing FemTech industry
(TheNewswire)
Vancouver, British Columbia – TheNewswire - July 10, 2024 - BYNDCannasoft Enterprises Inc. (Nasdaq: BCAN ) (“ BYND ” or the “ Company ”), anintegrated software company, provided its CEO’s periodic update forthe year 2024.
With the Company's entry into the last stretch beforethe expected start of sales of the EZ-G device, it has worked over thepast year to consolidate its strategic activity in the field of femalewellness, particularly in the FemTech field .
The global FemTech market size is valued at USD 45.75 billion in 2022. It isestimated to reach USD 139.51 billion by 2031, growing at a CAGR of13.12% during the forecast period (2023–2031).” Indirectly, womensignificantly impact the expansion of the healthcare industry. Womenconstitute fifty percent of healthcare consumers worldwide.Approximately ninety percent of women are the primary healthcaredecision-makers in their homes. Additionally, women are 75% morelikely than males to utilize digital healthcare tools. 80% ofhealthcare providers are female, with the preponderance being nurses.Women's participation in various sectors promoting healthcare canimpact the adoption of FemTech solutions. *
With such an exponentially evolving field in mind, weare constantly working to bring the Company's flagship product tomarket in the coming months as well as develop additional productsbased on the Company's patented technology- the smart release technology system.
As part of the change and deepening its strategy in thefield, the Company is planning changes during 2024, include changes inthe corporate field as well as in the field of visibility andbranding.
At the same time, the Company intends to showcase itstechnology and products in a number tradeshows in the US in the fieldof women's wellness and technology.
Innovative Product Line-Up
BYND strives to redefine skincare with its smartcosmetic face device, utilizing smart release technology alongsideinterchangeable serum capsules. This innovation allows users toseamlessly transition between treatments, catering to a variety ofskin needs. The integration of LED light therapy and gentle vibrationsensures optimal serum absorption, making every skincare routine asmart and personalized experience.
In the hair wellness arena, BYND’s proprietarytechnology has given rise to an innovative hair growth brush, designedto optimize hair treatment. By combining LED light therapy, gentlevibrations, and essential nutrient capsules, this brush aims to fosteran ideal environment for hair growth, ensuring comprehensive care forevery hair follicle.
Venturing into women’s sports, BYND development of amuscle pain relief regulator illustrates the company’s dedication toenhancing athletic performance and recovery. This wearable technologymerges heat therapy, vibration, and gel application in a user-friendlydesign, offering targeted relief and muscle recovery support.
Expanding and deepening the company'spatent protection
In recent months, the company has filed national patentapplications in the US and the European Union and in about ten otherdifferent countries.
The protection includes extensive protection of theEZ-G device and the capsule model compatible with the device, as wellas several other devices
Market penetration stages
In the coming weeks, the company will conduct anextensive user survey among women of different ages through one of theleading user experience survey companies in the US.
In this user survey, the company will seek to determinethe precise results of using the EZ-G device and create a quality userexperience.
We expect the results of the review to be positive andprove the device's effectiveness and the quality user experience itprovides.
Following the conclusion of the review, the companyintends to approve initial production of approximately 10,000 initialunits of the EZ-G device.
The devices will be sold on the company'ssoon-to-be-launched new and improved website and other digitalplatforms.
The company is in negotiations for the sale ofthousands of product units under an exclusive franchise in the US andexpects to use the franchise channel as a platform for distributingthe device in order to realize the company's strategy based on razorsand a knife in which all device users regularly purchase the uniqueoil capsules from the company as long-term subscribers of thecompany.
About BYND Cannasoft Enterprises Inc.
BYND Cannasoft stands as a pioneering force in femininetechnology. The company’s aim is to serve as a beacon oftransformative change in the sphere of female health and wellness.Through proprietary Smart Release Technology and a dedication tocreating smart, women-centric products, BYND is establishing newbenchmarks in the wellness industry.
BYND is an Israeli-basedintegrated software company. BYND owns and markets "Benefit CRM", a proprietarycustomer relationship management (CRM) software product enabling smalland medium?sized businesses to optimize their day?to?daybusiness activities such as sales management, personnel management,marketing, call center activities, and asset management.
BYND owns the patent-pendingintellectual property for the EZ-G device. This therapeutic deviceuses proprietary software to regulate the flow of low concentrationsof CBD oil, hemp seed oil, and other natural oils into the softtissues of the female reproductive system to potentially treat a widevariety of women's health issues. The EZ-G device includestechnological advancements as a sex toy with a more realisticexperience and the prototype utilizes sensors to determine whatenhances the users' pleasure. The user can control the device througha Bluetooth app installed on a smartphone or other portable device.The data will be transmitted and received from the device to and fromthe secure cloud using artificial intelligence (AI). The data iscombined with other antonymic user preferences to improve itsoperation by increasing sexual satisfaction. Commercialization of theEZ-G device is subject to receipt of regulatory approvals.
The devices described in this news release are conceptdevices that are in the first stage of development and will be subject to extensive testingand regulatory approvals and therefore there is no certainty that theywill eventually be marketed.
For further information please refer to the Company’swebsite: www.cannasoft-crm.com , and on SEDAR+: www.sedarplus.ca .
Gabi Kabazo
Chief Financial Officer
Tel: (604) 833-6820
e?mail: ir@cannasoft-crm.com
Cautionary NoteRegarding Forward-Looking Statements
This press release includes certain statements that maybe deemed “forward-looking statements” within the meaning ofSection 27A of the U.S. Securities Act of 1933, as amended, andSection 21E of the U.S. Securities Exchange Act of 1934, as amendedand under Canadian securities laws. When used in this press release,the words “may”, “would”, “could”, “will”,“intend”, “plan”, “anticipate”, “believe”,“estimate”, “expect” and similar expressions are intended toidentify forward?looking statements. Such statements are subject tocertain risks and uncertainties, and actual circumstances, events orresults may differ materially from those projected in suchforward-looking statements.
Although the Company believes the expectationsexpressed in such forward-looking statements are based on reasonableassumptions, such statements are not guarantees of future performance,and actual events or developments may differ materially from those inforward-looking statements. Such forward-looking statementsnecessarily involve known and unknown risks and uncertainties, whichmay cause the Company’s actual performance and financial results infuture periods to differ materially from any projections of futureperformance or results expressed or implied by such forward-lookingstatements. Such statements reflect the Company's current views withrespect to future events and are subject to such risks anduncertainties. Many factors could cause actual results to differmaterially from the statements made, including future financialperformance, unanticipated regulatory requests and delays, finalpatents approval, and those factors discussed in filings made by thecompany with the Canadian securities regulatory authorities, including(without limitation) in the company's management's discussion andanalysis for the year ended December 31, 2023 and annual informationform dated April 2, 2024, which are available under the company'sprofile at www.sedarplus.ca, and in the Company’s Annual Report onForm 20-F for the year then ended that was filed with the U.S.Securities and Exchange Commission on April 3, 2024. Should one ormore of these factors occur, or should assumptions underlying theforward-looking statements prove incorrect, actual results may varymaterially from those described herein as intended, planned,anticipated, or expected. We do not intend and do not assume anyobligation to update these forward?looking statements, except asrequired by law. Any such forward-looking statements representmanagement's estimates as of the date of this press release. While wemay elect to update such forward-looking statements at some point inthe future, we disclaim any obligation to do so, even if subsequentevents cause our views to change. Shareholders are cautioned not toput undue reliance on such forward?looking statements.
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