At the end of every year I try to assess my year. I look for measures of happiness that include goals set and accomplished in both my personal life and professional life. As I go through the list for 2017, I have definitely have had some challenges. However, no year is without challenges and hardships. Instead of rehashing the hardships, I try to focus on the positive side of the equation. In the positive columns this year are many good things. Without boring you with too many details of personal life, this year I have gotten a little closer to my sisters, learned patience when sharing care for my elderly mother, developed a better understanding with my brother and made the bond with my wife even stronger. I have learned a few more techniques on how to barbecue an amazing steak, sous vide a cowboy-cut ribeye, slow and low roast a brisket and developed a very healthy falafel recipe.
On the professional side of things I am deeply grateful and gratified. Innovo Technology has developed and grown. The company has accomplished many of the goals we set out for ourselves. We have successfully merged all parts of the company into a single entity and interconnected much of the technologies. We continued to improve existing products and designed new ones. We continued to innovate on the software front by developing Artificial Intelligence algorithms that can be utilized cross-platform.
What have we done?
From my letter to shareholders earlier this year I set the following goals for the year.
- “Before year end we plan to complete a unified platform for all of our technologies. “
We have done this. All of our products now have a common platform and we have started to use that platform to drive new products forward like the Knoton and the next generation of Morpheus.
- “Our marketing efforts will also intensify as we begin launching the Morpheus brand in the USA. “
We have already attended CEDIA and did some follow up campaigns in the USA. This is by no means the end of this work but just the start. While the leads and business opportunities were a bit slower to come in than I anticipated they are still ongoing and results are adding up.
- “We will also grow the market of the great social notification platform of TruckIT and develop new markets for the product such as restaurants, venues and the growing pop-up market.”
The TruckIt platform has been a bit slower to develop than I originally planned. This was largely due to a strategic change in development. Rather than develop the TruckIt app then develop it’s physical component, the engineering team along with the advisors determined that it’s better to develop both in tandem and fold the physical component into the Knoton. We also decided to make the TruckIt platform malleable by design to other use-cases so that we can bring products to market much faster in the coming year.
- “The goal is to transform Innovo Technology into a single hardware platform that can be morphed into any number of devices. Then, continue to write powerful software that can also be transformed into apps with ease using our proprietary libraries along with our vast knowledge of open source packages available to us.”
For the most part we have accomplished this goal during the year. We brought on board knowledgeable and experienced team members to continue developing our technological competitive advantage. We continued to develop our software and design new products.
What is in store for 2018?
We are a technology company first and foremost and that will always be a central focus. We will continue to innovate and develop our products further.
On the development roadmap for 2018 is the release of the Knoton. In the next few weeks we will be releasing the final design for the Knoton along with the use-cases and the marketing plan. The Knoton is a promising device that will take advantage of the ever-growing IoT market. The Knoton will also be designed to be a secure blockchain IoT device that can be weaved into a complete IoT system. Such device when deployed in the thousands or millions of units can then form a complete system that can have profound uses in the crypto-currency and distributed-computation market segment. The IoT market is still in its infancy and developing fast. The Knoton is designed to take advantage of this large market.
We will also be revamping our Morpheus line to maintain a cutting edge advantage in the media delivery market. A few of the upgrades that are planned are an upgrade to the entire line to 4K and the introduction of a Morpheus device designed for the consumer market rather than just the professional market.
The TruckIT app will be finalized in the first quarter of 2018 and ready for release. We are currently finalizing the IOS version.
We also are planning several marketing campaigns to increase brand awareness and drive sales of Morpheus, TruckIT and the Knoton. The goal is to increase wide adoption of the Morpheus Line and have a successful launch for the Knoton along with TruckIT.
What do we need to get there?
Resources. Resources. Resources.
I see 2017 as the year that merged the companies and laid the groundwork for growth and value. We also secured some financial resources that will be required to continue our growth. So far a small group of private investors and the sales from Morpheus have financed our company. However in order to grow fast and develop substantial shareholder value we need to secure further resources to fuel our growth. To that effect we have worked with several financing partners and have secured some of vehicles in the form of private investment and the Reg A filing that we plan to complete in the first half of 2018. Sure the math doesn’t add up at this point to take advantage of the full value of the agreement, however as we drive share value higher through our growth and innovation we will be in a good place to take advantage of the offering in order to secure the required resources to continue growing the company and increasing shareholder value.
I strongly believe in our company and our products. I am very excited about what’s to come and looking forward to an amazing 2018.
To our investors, partners and hard working team members I wish you a happy and fruitful new year.
Inas Azzam
CEO
Innovo Technology