LiteLink Moves into Untapped Waste Management Industry

LiteLink

LiteLink Technologies Inc. (CSE:LLT) (OTCPK:LLNKF) announced Tuesday that it has acquired Internet of Things (IoT) sensor technologies to target the massive and largely untouched waste and container management industry.

According to the acquisition agreement, the company will purchase all of the assets from a partnership of individuals called 3030 IoT, including sensor technologies, intellectual property rights, equipment, hardware, inventory, customer contracts, and prospect lists.

The asset bundle will also include an IoT device and software that has been commercialized and is operating with a large bin waste management company in British Columbia, Canada.

“We are very excited about the market-differentiating IoT sensor technology, which will allow us to provide the waste management industry with a much-needed solution,” said LiteLink Technologies CEO Ashik Karim“We are confident that anyone that has interest or charges based on how ‘full a bin, container, or space is’ will want this technology. From grain to oil to clothing bins that require pick-ups or attention when they are full or empty, this integrated solution will solve this problem automatically without manual inspection.”

LiteLink Technologies Targets Untapped Waste Management Industry

Experts believe that the waste management industry will grow significantly in the coming years, as the global population continues to increase steadily. With more people comes more garbage and recycling, which puts additional pressure on the waste management industry and offers companies like LiteLink Technologies a massive opportunity.

Experts believe that the US waste management market will reach $80.7 billion by 2023. However, there are many problems still plaguing the industry, such as overfills, which lead to manual cleanup. Another big issue is the industry’s efficiency, or lack thereof. The current inefficiency of the industry is causing containers that are only half-full to be picked up while other containers miss pick-ups until they are overfilled. Extra pick-ups, as well as missing pick-ups, drives up fines and overhead costs. On top of that, safety has become an issue, with several containers and bins having been connected with deaths during pick-up.

>> Else Nutrition Receives Patent Extension on Formula for US Adult Market

The smart waste management market is becoming a popular option and experts believe that it will begin to grow at a compound annual growth rate of 25.68% to reach $5.19 billion by 2024.

This transaction brings LiteLink Technologies one step closer to commercializing a turnkey hardware and software platform for widespread use and adoption.

Terms of the Acquisition Agreement

LiteLink Technologies paid a $50,000 cash deposit and has agreed to pay $60,000 in cash and $140,000 in common shares of the company following the completion of a subsequent financing.

The agreement also includes a maximum royalty payment of US$1.2 million, which is only payable upon revenue being derived from the commercialization of the assets. LiteLink has also agreed to pay a continued royalty of 15% of revenue for three years after closing.

Despite the exciting news, LiteLink Technologies’ share price was down 9.09% by end of day Tuesday at C$0.05. According to Morningstar, a fair value for LiteLink stock is C$0.11, meaning it is undervalued and trading at a 54% discount.

Investors who are interested in the innovative technology space will want to keep an eye on LiteLink Technologies and how the company progresses in the waste management industry in the coming months.

>> Read More Tech News

Featured Image: LiteLink Technologies

Please See Disclaimer


Disclosure:

1) The author of the Article, or members of the author’s immediate household or family, do not own any securities of the companies set forth in this Article. The author determined which companies would be included in this article based on my research and understanding of the sector.

2) The Article was issued on behalf of LiteLink Technologies Inc. The Article and its dissemination were paid for by LiteLink Technologies Inc. Market Jar Media Inc. has or expects to receive payment from LiteLink Technologies Inc’s Digital Marketing Agency of Record (Native Ads Inc) in the amount of CAD $657,784 for 366 campaign days (251 business days). Neither Native Ads, Inc. nor Market Jar Media Inc., hold any securities of LiteLink Technologies Inc., or any other company mentioned in this article. Principals and employees of Native Ads, Inc. and Market Jar Media Inc. do own securities of LiteLink Technologies Inc., and may own (or may in the future acquire) securities of other companies mentioned in this article.

3) Statements and opinions expressed are the opinions of the author and not Market Jar Media Inc., its directors or officers. The author is wholly responsible for the validity of the statements. The author was not paid by Market Jar Media Inc. for this Article. Market Jar Media Inc. was not paid by the author to publish or syndicate this Article. The information provided above is for informational purposes only and is not a recommendation to buy or sell any security. Market Jar Media Inc. requires contributing authors to disclose any shareholdings in, or economic relationships with, companies that they write about. Market Jar Media Inc. relies upon the authors to accurately provide this information and Market Jar Media Inc. has no means of verifying its accuracy.

4) The Article does not constitute investment advice. Each reader is encouraged to consult with his or her individual financial professional and any action a reader takes as a result of information presented here is his or her own responsibility. By opening this page, each reader accepts and agrees to Market Jar Media Inc.'s terms of use and full legal disclaimer as set forth here. This Article is not a solicitation for investment. Market Jar Media Inc. does not render general or specific investment advice and the information on Microsmallcap.com should not be considered a recommendation to buy or sell any security. Market Jar Media Inc. does not endorse or recommend the business, products, services or securities of any company mentioned on Microsmallcap.com.