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ShiftPixy Secures Virus-Killing Genesis One Technology to Make Restaurants Safer
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Rhea-AI Summary
ShiftPixy, Inc. (NASDAQ: PIXY) has formed an agreement in principle with Quelliv, Inc. to distribute the Genesis One laser device, enhancing safety for restaurants and retailers amidst COVID-19. This technology has been independently tested for its effectiveness in killing viruses in realistic settings. ShiftPixy aims to offer the system as part of its services to clients, with a major rollout planned for 2022. This partnership is a strategic move to support clients in maintaining cleaner environments as pandemic concerns linger.
Positive
Exclusive distribution rights for Genesis One anti-virus laser systems secured.
Technology tested and confirmed to effectively kill viruses under realistic conditions.
Planned major rollout of anti-viral system for clients in 2022.
Negative
Risks associated with Genesis One technology efficacy in non-laboratory conditions.
Dependence on Quelliv, Inc. to fulfill obligations under the agreement.
The ongoing impact of the COVID-19 pandemic on business operations and client demand.
Brings cutting edge innovation to the restaurant and retail markets
MIAMI--(BUSINESS WIRE)--
ShiftPixy, Inc. (NASDAQ: PIXY), a national staffing enterprise that designs, manages, and sells access to a disruptive, revolutionary platform, today announced an agreement in principle with Quelliv, Inc., the exclusive manufacturer and distributor of the anti-viral, bio-technology Genesis One laser device, to better support restaurants and retailers in keeping their businesses and customers safe.
Designed to meet the unique environmental and health issues for people in space, ShiftPixy has secured the exclusive distribution rights for the Genesis One anti-virus laser systems for use in restaurants and retail.
“We were introduced to the Genesis One technology late last year and saw an opportunity to help our restaurant clients keep their dining rooms cleaner and safer in the face of COVID,” said ShiftPixy CEO and Founder Scott Absher. “An independent lab has tested the Genesis One equipment and confirmed the technology’s viral killing capability under realistic conditions.”
ShiftPixy currently intends to offer the anti-viral system as an extension of its services to current clients initially with a major rollout planned for calendar 2022.
ShiftPixy (PIXY) provides a disruptive human capital management platform, revolutionizing employment in the Gig Economy by delivering a next-gen mobile engagement technology to help businesses with shift-based employees navigate regulatory mandates, minimize administrative burdens and better connect with a ready-for-hire workforce. With expertise rooted in management’s nearly 25 years of workers’ compensation and compliance programs experience, ShiftPixy adds a needed layer for addressing compliance and continued demands for equitable employment practices in the growing Gig Economy.
Forward-Looking Statements
Any statements contained in this press release that do not describe historical facts may constitute forward-looking statements. Although such forward-looking statements are based upon what management of the Company believes are reasonable assumptions, there can be no assurance that forward-looking statements will prove to be accurate. The risks and uncertainties include, but are not limited to, risks associated with the efficacy of the Genesis One technology in non-laboratory conditions with respect to both existing pathogens and those that may emerge in the future; the ability of the Company to meet client demand for the Genesis One technology; entry into a definitive agreement with Quelliv, Inc. that provides exclusive access to the Genesis One technology for the Company’s clients, and the ability of Quelliv, Inc. to fulfill its obligations under any such definitive agreement; nature of the Company’s business model; the Company’s ability to execute its vision and growth strategy; the Company’s ability to attract and retain clients; the Company’s ability to assess and manage risks; changes in the law that affect the Company’s business and its ability to respond to such changes and incorporate them into its business model, as necessary; the Company’s ability to insure against and otherwise effectively manage risks that affect its business; risks arising from the COVID-19 pandemic or any other events that could cause wide-scale business disruptions; competition; reliance on third-party systems and software; the Company’s ability to protect and maintain its intellectual property; and general developments in the economy and financial markets. Many of these and other risks are discussed in the Company’s filings with the SEC, including, without limitation, its Annual Report on Form 10-K, filed on November 30, 2020, as amended on January 12, 2021, and its periodic and current reports on Form 10-Q and Form 8-K. The Company undertakes no obligation to update forward-looking statements if circumstances or management's estimates or opinions should change, except as required by applicable securities laws. The information in this press release shall not be deemed to be "filed" for the purpose of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of that section, and will not be deemed an admission as to the materiality of any information that is required to be disclosed solely by Regulation FD. Further information on these and other factors that could affect the financial results of the Company, is included in the filings we make with the SEC from time to time. These documents are available on the "SEC Filings" subsection of the "Investor Information" section of the Company’s website at https://ir.shiftpixy.com/financial-information/sec-filings, or directly from the SEC’s website at https://www.sec.gov.
Consistent with the SEC’s April 2013 guidance on using social media outlets like Facebook and Twitter to make corporate disclosures and announce key information in compliance with Regulation FD, the Company is alerting investors and other members of the general public that the Company will provide updates on operations and progress required to be disclosed under Regulation FD through its social media on Facebook, Twitter, LinkedIn and YouTube. Investors, potential investors, shareholders and individuals interested in the Company are encouraged to keep informed by following us on Facebook, Twitter, LinkedIn and YouTube.
