Utah Selects Akerna to Run Its Seed-To-Sale Tracking Plan

[ad_1]

PRESS RELEASE

State will use subsequent generation Leaf Information Systems, setting new normal for government regulation

DENVER, August 14, 2019 — Akerna Corp. (Nasdaq: KERN), a top seed-to-sale regulatory compliance technologies provider and developer of the cannabis industry’s very first enterprise resource preparing (ERP) software program technologies – MJ Platform®, announced right now it has been awarded a new contract from the Utah Division of Wellness and Division of Agriculture to implement its seed-to-sale tracking platform, Leaf Information Systems® (Leaf Information) for Utah’s new health-related cannabis system. Akerna also announced the launch of the subsequent generation Leaf Information to combine a closed-loop platform with sophisticated tagging technologies that evolves the category of government track-and-trace items, which very first launches in Utah.

To make a closed-loop method, MJ Platform technologies is the core of subsequent generation Leaf Information and will be made use of by all Utah licensees as their major cannabis tracking method at retail, wholesale, cultivation and manufacturing. MJ Platform, the cannabis industry’s very first ERP, tracks cannabis at the gram and item level, as nicely as by-items and waste—from seed to item to shelf to patient/customer—through the comprehensive provide chain. Leaf Information gives licensees initial exposure to MJ Platform and creates possibilities for additional integration of MJ Platform’s richer functionality as enterprise requirements evolve.

To advance tagging technologies, Leaf Information and solo sciences, inc, have partnered to launch solo*TAG&#x2122, the world’s very first cryptographically-safe, cannabis item authentication method, exclusively for governments and only out there with Leaf Information. This option to RFID tags is less expensive, a lot more safe and a lot more versatile for diverse packaging application.

“We are excited to launch our subsequent generation of Leaf Information Systems in Utah. Closing the information loop and elevating tagging technologies sets a new normal for government regulation with higher transparency and accountability, when supplying cannabis licensees an economical, safe and intuitive provide chain compliance framework,” stated Akerna Chief Executive Officer Jessica Billingsley.

“The inventory manage and electronic verification systems are certainly important to the results of Utah’s health-related cannabis system. Leaf Information gives the transparency and safety to effectively launch Utah’s very first system in cannabis,” commented Wealthy Oborn, Director of the Center for Healthcare Cannabis at the Utah Division of Wellness. “We appear forward to implementing the sophisticated method for the security of all Utah residents.”

Evolved Leaf Information Systems differentiators contain:

  • More quickly to implement – Leaf Information gives governments their requested information points and implements a functioning method promptly with out lengthy and resource-intensive customization. As the only viable industrial-off-the-shelf (COTS) option for cannabis traceability, Leaf Information can very easily accommodate what are right now big variances in the information points governments request for collection.
  • Additional transparency and accountability – The evolved Leaf Information item closes the loop among governments and licensees to eradicate alternate information collection sources, which reduces error, improves safety and increases accountability. Information is also out there inside 15 minutes for true-time compliance. 
  • Much less expense to licensees – Present traceability tagging technologies is pricey and outdated. Solo science’s patented technologies delivers an sophisticated solo*TAG as a exclusive digital fingerprint that eliminates the will need for high-priced technologies like holograms and RFID. The solo*TAG can also expense a fraction of the expense of existing tagging technologies, decreasing some of the compliance expense burden for cannabis licensees.
  • Branding for export markets – As a government traceability item, solo*TAG has the exclusive potential to stay a safe digital fingerprint, when also authenticating a country’s item in a very customizable, branded graphic. As opposed to other authentication technologies, the solo*TAG can be applied to pre-current items with out the will need for packaging redesign.
  • Mobile App – solo*TAG is mobile-app enabled, and Leaf Information is now the very first mobile-enabled, seed-to-sale government traceability platform for cannabis corporations and for regulatory bodies.

“By partnering with Akerna, Utah will now have a very first-of-its-type, closed-loop intelligent authentication method to make customer trust, and empower governments and brands with a 360° seed-to-self&#x2122 ecosystem to fulfill regulatory and compliance requirements,” mentioned Ashesh (Alex) Shah, CEO and founder of solo sciences.  

The Utah option also involves a partnership with MicroPact, provider of adaptive, COTS options to the public sector, to procedure patient and caregiver applications, renewals and payments when making certain effective registration and enforcement.

The evolved Leaf Information item provides governments a option that is quicker to implement with decreased operating fees and much less expense burden for licensees, when enhancing traceability and accountability. Globally, MJ Platform has adapted to 14 nations and the method operates in 4 languages and numerous currencies. Leaf Information presently supports state cannabis system operations that create $722-million in taxes. Akerna presently has two bids pending for Leaf Information with development chance into 3 further states and 10-20 nations in the subsequent two years.

About Akerna Corp.
Akerna is a regulatory compliance technologies organization in the cannabis space. The cornerstones of Akerna’s service offerings are MJ Platform® and Leaf Information Systems®, which are very-versatile platforms that offer consumers and government entities with a central information management method for tracking regulated cannabis products—from seed to item to shelf to customer—through the comprehensive provide chain. Due to the fact establishment in 2010, the organization has tracked a lot more than $15 billion in cannabis sales across 14 nations and has served consumers in 29 states across the U.S. As portion of its enterprise technique, Akerna intends to develop by means of targeted, strategic acquisitions that are complementary to its existing enterprise and organically by accelerating its item improvement efforts. Akerna is primarily based in Denver. Additional info is out there on the net at www.akerna.com.

About solo sciences

Boston-primarily based solo sciences gives instantaneous item authenticity reports by way of solo*, its proprietary technologies providing, comprised of a safe tag, mobile app and backend method. The solo sciences mission is to make self-assurance and establish trust amongst shoppers, when enabling retailers and distributors to close the loop with their suppliers. For a lot more info, go to solosciences.com.

Forward-Seeking Statements

Particular statements created in this release are “forward searching statements” inside the which means of the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995. When made use of in this press release, the words “estimates,” “projected,” “expects,” “anticipates,” “forecasts,” “plans,” “intends,” “believes,” “seeks,” “may,” “will,” “should,” “future,” “propose” and variations of these words or equivalent expressions (or the damaging versions of such words or expressions) are intended to recognize forward-searching statements. These forward-searching statements are not guarantees of future overall performance, situations or outcomes, and involve a quantity of identified and unknown dangers, uncertainties, assumptions and other significant aspects, a lot of of which are outdoors Akerna’s manage, that could bring about actual outcomes or outcomes to differ materially from these discussed in the forward-searching statements. Essential aspects, amongst other folks, that may possibly impact actual outcomes or outcomes contain Akerna’s potential to recognize the anticipated advantages of the enterprise mixture, which may possibly be impacted by, amongst other points, competitors, the potential of the combined organization to develop and handle development profitably, retain relationships with prospects and suppliers and retain its management and essential personnel fees connected to the enterprise mixture alterations in applicable laws or regulations the possibility that Akerna may possibly be adversely impacted by other financial, enterprise, and/or competitive aspects Akerna’s potential to recognize and integrate acquisitions and realize anticipated synergies and operating efficiencies in connection with acquired corporations and other dangers and uncertainties indicated from time to time in the final prospectus of Akerna, which includes these below “Risk Factors” therein, and other documents filed or to be filed with the Securities and Exchange Commission (“SEC”) by Akerna.  Actual outcomes, overall performance or achievements may possibly differ materially, and potentially adversely, from any projections and forward-searching statements and the assumptions on which these differ from forward-searching statements are primarily based. There can be no assurance that the information contained herein is reflective of future overall performance to any degree. You are cautioned not to spot undue reliance on forward-searching statements as a predictor of future overall performance as projected economic info, expense savings, synergies and other info are primarily based on estimates and assumptions that are inherently topic to different important dangers, uncertainties and other aspects, a lot of of which are beyond our manage. All info herein speaks only as of the date hereof, in the case of info about Akerna, or the date of such info, in the case of info from persons other than Akerna. Akerna undertakes no duty to update or revise the info contained herein. Forecasts and estimates with regards to Akerna’s business and finish markets are primarily based on sources we think to be trusted, even so there can be no assurance these forecasts and estimates will prove correct in complete or in portion. 

Akerna Media Get in touch with

Jon Goldberg / McKenna Miller

KCSA Strategic Communications

[email protected] / [email protected]

(212) 896-1282 / (347) 487-6197

Investor Get in touch with

Phil Carlson / Scott Eckstein

KCSA Strategic Communications

[email protected] / [email protected]

(212) 896-1233 / (212) 896-1210

solo sciences Media Get in touch with

Kayla Abbassi

VSC on behalf of solo sciences

[email protected]

Investor Get in touch with

Vinay Shah

[email protected]

(917) 885-2363

 



[ad_2]

Latest posts