Business
Emerging Markets Report: Right on Traq
Emerging Markets Report: Right on Traq.
About this update from Spyr, Inc.
[{"type":"text","content":"\n An Emerging Markets Sponsored Commentary ORLANDO, Fla., June 08, 2022 (GLOBE NEWSWIRE) -- Some of the recent press releases we’ve covered on behalf of SPYR Technologies (OTCQB:SPYR) have been along the lines of what we’ve affectionately called ‘thinking-out-loud’ notes regarding the Company’s hopes and expectations. And while they have presented an interesting view on the desires of the Company, the sort of thing more common at a board or shareholder meeting, they were, are, indeed less tangible than news they just dropped about a material definitive agreement to acquire an interesting technology company with a significantly different product offering in the Internet of Things (IOT.) Per the release, SPYR has entered into a material definitive agreement to acquire GeoTraq, Inc. from NASDAQ traded JanOne Inc. (NASDAQ: JAN). Here’s the quick rundown on GeoTraq: GeoTraq develops and entirely self-contained and ultra-small Mobile IoT (Internet of Things) modules for asset tracking, location-based services, and sensor modules for remote monitoring. The modules are plug-and-play and include turnkey connectivity to cloud services via GeoTraq's proprietary cloud-based “WebTraq” platform. GeoTraq's mission is to provide “Simple IoT” at a low cost, with ease of deployment, ease of use, and plug-and-play functionality with no product development required of the customer. The last line… “with no product development required of the customer” is important as the customer, for instance, a large construction company, can quickly roll-out, from a relative standpoint, the GeoTraq tech for inventory control, gas, water and electric metering, equipment monitoring, supply chain and logistics oversight. This appears to be potentially a significant advantage and allows GeoTraq to quickly enhance operations for large scale industries once deployed. We believe the ability to apply the technology so quickly and impactfully is potentially a major selling point. Yes, at this point GeoTraq is pre-revenue. It’s not lost on us that this acquisition would give SPYR significant holdings in two lucrative arenas. It is now adding GeoTraq, which focuses on helping businesses get better, to a roster that includes Applied Magix, which is looking to help everyone with an iPhon...