The Conversation (0)
Lomiko Metals Inc. (TSXV:LMR,OTCQX:LMRMF,FSE:DH8B) announced that is has signed a Letter of Intent with engineering partner MegaHertz Power Systems, Ltd., private company, to launch a new company focused on “Internet of Things” devices.
Lomiko Metals Inc. (TSXV:LMR,OTCQX:LMRMF,FSE:DH8B) announced that is has signed a Letter of Intent with engineering partner MegaHertz Power Systems, Ltd., private company, to launch a new company focused on “Internet of Things” devices. SHD Smart Home Devices Ltd. will develop, contract manufacture, distribute and sell Spider Chargers and related devices.
As quoted in the press release:
There are currently 130 million established households in North America and a healthy seasonally adjusted annualized rate of 1.3 million housing starts. In addition, offices, hotels and coffee shops are also potential markets for USB charging devices. If only one or two USB charging devices are installed in new homes and retro-fitted into current homes undergoing renovations, there will be a healthy demand for these IOT products.
Previously, Lomiko Technologies was the exclusive licensee of three devices designed by MegaHertz Power Systems, Ltd. based on an October 27, 2014 news release. Now, MegaHertz Power Systems, Ltd. has amalgamated a number of new concept designs, technology licenses, patent applications, and intellectual property into Smart Home Systems in order to penetrate the smart home market for Internet of Things (IOT) and seek out revenue streams. Lomiko will contribute the trademark and jointly developed Spider Charger and become a shareholder of Smart Home. In addition, Smart Home Ltd. plans to enter into negotiations to sell the Spider Charger and other related devices in North American markets with IOT distributors and builders.
Lomiko Technologies will no longer be the exclusive licensee in North America but will retain its North America license for the Spider Charger, the OEM 120VAC 60W LED Driver and the 90+ 60W LED Driver. Further, it will have the opportunity to license new products from Smart Home Devices Ltd. that are developed.
Lomiko Metals CEO, A. Paul Gill. stated:
With the launch of Smart Home Devices Ltd., Lomiko has an opportunity to garner a profitable sales channel for the Spider Charger. Major companies such as Leviton, Legrand, Pass & Seymour and others have recognized this new market and have launched similar devices.
Connect with Lomiko Metals Inc. (TSXV:LMR,OTCQX:LMRMF,FSE:DH8B) to receive an Investor Presentation.