Carl Data to acquire crypto hardware from Connected
CARL DATA Solutions Inc. has entered into a letter of intent to acquire cryptocurrency-mining hardware from Connected Fintech Inc. and partner with Connected with respect to the joint development of a first-of-its-kind IIoT (industrial Internet of things) blockchain technology for integration into the Carl Data’s machine-learning, predictive analytics and operational metrics for cryptocurrency-mining hardware.
Greg Johnston, Carl Data president and chief executive off i c er, stated: “Consistent with our business plan to acquire new complementary products and services, our partnership with Connected Fintech Inc. will allow us to develop the first IIoT blockchain. The technology will allow us to build in accountability, transparency and security into the transactions of data from various measurement devices. We are very excited to introduce this new technology into the IIoT space and know it will be of tremendous value for our customers and all consumers of environmental monitoring data.”
Jiang (Jay) Yu, Connected Fintech Inc. president and chief executive officer, stated: “I am excited to partner with Carl Data Solutions to build out the infrastructure for their cryptocurrency-mining facility. We also plan on developing IIoT blockchain technology for Carl, a vertical within the cryptocurrency and blockchain space that not many are focusing on. Having a partner like Carl, a big data company that has the infrastructure and ability to make sense of this fast-growing sector within fintech.”
In connection with the company’s proposed acquisition of cryptocurrency-mining
hardware, the company has agreed to pay Connected $250,000 and issue to Connected up to two million common shares in the capital of the company, such subject to the following milestones: (i) one million shares to be released upon signing of a definitive agreement; (ii) 500,000 shares to be released upon the company’s facility and infrastructure being made fully compatible with cryptocurrency data miners; and (iii) 500,000 shares to be released upon final installation of Connected’s cryptocurrency-mining hardware. In connection with the proposed technology development partnership between the company and Connected, the company has agreed to pay Connected a retainer of $4,000 per month and will grant a 15-per-cent royalty on the company’s gross revenue generated from cryptocurrency-mining activities for an initial term of one year.
The letter of intent contemplates that a definitive agreement will be entered into on or before Jan. 2, 2018.
About Carl Data Solutions Inc.
Carl Data Solutions is an industrial IoT (IIoT) company focused on providing next-generation information collection, storage and analytics solutions for data-centric companies. Building on its recent acquisitions, Carl helps its clients analyze and understand all forms of environmental data through a powerful platform of data collection, monitoring, reporting and predictive analysis tools.
Carl Data continues to develop applications to work with new cloud-based mass storage services and analytics tools (big-data-as-a-service (BDaaS)) to provide scalability for municipalities, utilities and other industrial verticals. These data collection and storage methods allow the company to build smart software-as-a-ser-vice-(SaaS)-based applications that can collect data from many diverse sources and provide deep insight for decision-making purposes.
We seek Safe Harbor.
Chris Johnston, D Gregory Johnston, Rick Sanderson, Bryan Segal
(CRL) Shares: 55,211,656