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Pennexx Foods Inc. (PNNX) is a food production company located in Philadelphia, Pennsylvania, United States. The company focuses on social media, prepaid debit cards, artificial intelligence, targeted marketing, and consumer rewards through its wholly owned subsidiaries. Recently, Pennexx has introduced an innovative licensing model based on zip codes, allowing third party marketing firms to use the company's technology to support merchants' growth. This new model offers a unique revenue split, benefiting both the company and licensees. With the launch of a licensing model website and the upcoming release of the YSO smartphone app, Pennexx is aiming for rapid growth and increased consumer engagement.
Pennexx (OTC PINK:PNNX) has launched branded debit cards through its subsidiary YSO, allowing users to earn rewards on transactions made with the card. This innovation is expected to generate revenue for the company from transaction fees, providing flexibility for both users and merchants. The debit card can be integrated with YSO's patent-pending technology for targeted marketing, enhancing user data analysis. Pennexx aims to capitalize on the popularity of debit cards among consumers, offering a first-of-its-kind reward system linked to social media coupons.
Pennexx Foods (OTC PINK: PNNX) has partnered with Cyber Team U.S. to provide enhanced cybersecurity services for its users and merchants. Each user will receive PC Matic antivirus and VPN software as part of their subscription. This collaboration aims to protect consumers and businesses from cyber threats while offering additional services like identity protection and cybersecurity checkups. The initiative is expected to boost Pennexx's growth and market reach.
Pennexx Foods (OTC PINK:PNNX) announced a partnership with Relationship 2.0 to provide cash-back rewards to 30,000 of its active members through its Your Social Offers (YSO) platform. This program allows users to earn cash-back from over 4,000 retailers without changing their existing shopping behaviors. It also offers the option to convert cash rewards into cryptocurrency. The initiative is expected to generate annual revenues of approximately $15 million for YSO, enhancing consumer savings and rewards.
Pennexx Foods (OTC PINK:PNNX) is set to launch a new cryptocurrency coin, YSO, on December 3rd, aimed at providing merchants and retailers with a tool to incentivize consumer purchases. By rewarding customers with cryptocurrency, merchants can lower advertising costs while encouraging repeat visits. The YSO coin allows for greater flexibility compared to traditional reward systems, offering consumers the ability to use rewards across various retailers, thus removing barriers typically associated with closed-loop systems. More details will be released ahead of the launch.
Pennexx Foods (OTC PINK: PNNX) announced its plans to file a 10-K and request a return to fully reporting status with the SEC. This move is intended to enhance transparency and align with its goal to uplist to OTC:QB. The company believes this will benefit shareholders by increasing awareness. CEO Vincent Risalvato emphasized the commitment to high disclosure standards and outlined that the process may take several months. Currently, there are no plans to increase share structure or undertake dilutive events, aiming for organic growth.
Pennexx Foods (OTC PINK:PNNX) has launched a new feature on its YourSocialOffers.com platform, allowing consumers to earn Bitcoin (BTC) rewards for redeeming offers. This initiative positions the company to capture value in the booming cryptocurrency market, which recently exceeded a $2 trillion market cap. Merchants can sign up to reward customers using cryptocurrency, providing a unique incentive that could enhance customer engagement. CEO Vincent Risalvato expressed excitement about the potential of integrating cryptocurrency into consumer rewards.
Pennexx Foods (OTC PINK:PNNX) is advancing its application for OTCQB status, which signifies compliance with governance and audit standards. This up listing differentiates Pennexx from other over-the-counter stocks by establishing a stronger governance framework. CEO Vincent Risalvato commended the team for achieving the necessary audit completion and compliance measures. The application will be visible on OTCMarkets.com, and the company plans to keep investors informed throughout the process. For more details, visit www.Pennexx.net.
Pennexx Foods (OTC:PNNX) has successfully completed its inaugural PCAOB audit for the year 2020, marking a significant milestone in its ambition to expand within the social media marketing sector. Conducted by Assurance Dimensions, the audit confirms the reliability of Pennexx's financial statements in alignment with U.S. GAAP standards. The company aims to leverage this audit to bolster shareholder confidence and facilitate its application for OTC QB status, a step that could enhance its market visibility.
Pennexx Foods (PNNX) has formed a dynamic advisory board to enhance the growth of YourSocialOffers.com (YSO). The board comprises industry veterans like Tom Coba and Jeff Moody, who bring extensive experience from major brands such as Subway and Dunkin' Donuts. Coba expressed enthusiasm about YSO’s potential to scale rapidly, benefiting both consumers and merchants. The advisory team aims to provide strategic guidance to strengthen YSO's market position. President Joe Candito emphasized the importance of choosing the right advisors for sustainable growth.
Pennexx Foods (OTC PINK:PNNX) recently shared updates via an interview with CEO Vincent Risalvato. The company reported its second consecutive quarter of profitability and is on track to complete its audit for OTC:QB listing. Risalvato emphasized the focus on organic growth through revenue rather than dilution from investments. He also expressed optimism about positioning YourSocialOffers.com as a leading deal site, competing with established platforms. Pennexx aims to deliver solutions benefiting both merchants and consumers, capitalizing on the growing demand for digital offers.
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