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Pennexx Update to Shareholders Regarding the Company’s Strategy, Upcoming Financials and Proposed Changes to the Company’s Board and Guidance for Questions, News and Updates About the Company

Written by on November 12, 2020

Philadelphia, PA, Nov. 12, 2020 (GLOBE NEWSWIRE) — via NewMediaWire –Pennexx has launched extra particulars about Pennexx’s rising income and merchandise.

Pennexx is constructing a powerful basis for its firm and a part of that’s constructing a powerful board of administrators. Vincent Risalvato is proposing two candidates who’ve agreed to take a board seat if elected; they’re Joseph Caruso and Phillip Welch.

Joseph Caruso https://evestigate.com/joseph-caruso has a protracted historical past of startup enterprise success and is a acknowledged trade chief within the fields of cyber safety, laptop forensics and eDiscovery. He has been featured as a know-how skilled relating to excessive profile circumstances on CNN Headline Information, CBS Night Information with Katie Couric, FOX Enterprise’s Varney and Firm.

Phillip Welch is a Licensed Microsoft Techniques Knowledgeable, was director of IT for a nationwide broadcast tv community and has for practically 20 years supplied managed IT companies for tons of of consumers as President and CEO of https://welchandcompany.net. His background in each know-how and the operational elements of many multi-million greenback companies makes him effectively suited to assist information Pennexx to success.

Each gents have labored intently with Vincent Risalvato over a few years and are excited to presumably be part of the board, bringing nice worth to $PNNX.

Any nominations for board members will be emailed to data@pennexx.web for evaluation. Pennexx is contemplating including two different new candidates to the board for a complete of 5 board administrators.

Vincent Risalvato mentioned, “By rising a powerful board of administrators with thrilling candidates we take the following step within the evolution of Pennexx. They’ll information the corporate to success in addition to open many doorways.”

Pennexx shall be importing to OTC Markets a formal marketing strategy which embrace the general going ahead technique of the corporate and income estimates for the primary time. The corporate will additionally be outlining its technique for changing into absolutely audited.

Vincent Risalvato mentioned, “Turning into an audited firm was a aim that I had early on, one which slipped from our sights as growth progressed and because the COVID pandemic set in.”

Vincent continued, “Transparency and accountability to the shareholders is a key tenet that I’ve for my conduct and the conduct of the corporate. I want to information the corporate to realize the aim of getting an audited standing. It is a vital step to getting the corporate to a totally reporting SEC standing and is likely one of the essential steps to up itemizing the corporate.”

Pennexx is proposing to change its identify by eradicating the phrase “Meals” from the identify and presumably including “Applied sciences”. The naming course of change would require approval from the suitable regulators.

This identify change is in accordance with the truth that Pennexx is at the moment internet hosting a number of know-how tasks.

The corporate has been having nice success with its ongoing growth partnership tasks. 

They had beforehand introduced the event of the Cyber Safety Dashboard (CSD) https://www.globenewswire.com/news-release/2020/06/11/2047010/0/en/Pennexx-Partners-With-Global-Digital-Forensics-to-Create-a-Cloud-Based-Forensic-Dashboard.html. The CSD will start accumulating subscription income within the fourth quarter and that revenue is shared between Pennexx and World Digital Forensics https://www.evestigate.com.

Progress on the event partnership with https://zicixgroup.com was additionally introduced not too long ago by Zicix https://finance.yahoo.com/news/zicix-launches-website-smartphone-app-140000861.html.

Vincent Risalvato had mentioned beforehand, “By partnering on these growth tasks, we now have began to ship on my need to develop the enterprise organically (from cash collected from our services) as an alternative of relying solely on funding {dollars}. I consider greatest companies develop via income since they turn out to be a business success as they develop as an alternative of getting to determine the commercialism of their product after a big funding. This technique can lower potential dilution to the shareholders and will increase shareholder worth.”

The corporate goes to be reporting its third quarter financials shortly. Pennexx’s financials will nonetheless present a small revenue because of the truth that the main target has been on product growth and its companies income was solely in its infancy.

Vincent Risalvato has indicated that the fourth quarter financials will begin to present income generated via its growth partnerships. Since Pennexx has simply not too long ago launched its new dashboard which opens up quite a few income producing e-commerce choices, a small quantity of that income will additionally start within the fourth quarter.

Vincent mentioned, “Come this fourth quarter and first quarter 2021, I consider we’ll start to see actual quarter over quarter progress and the belief of my aim for the natural progress of the corporate.”

Moreover, the corporate continues to be forging ahead with its YSO debit card program. Vincent Risalvato mentioned, “I’m sorry that this course of has been so delayed; a part of it was the onset of Covid and one other a part of it was simply not likely understanding the entire authorized and technical challenges that had been laid forward. This can be a program that I really feel strongly about and I stay assured that it will likely be a serious a part of the YSO/YSI program. We’ve a graphic design for the cardboard and pending the approval of the cardboard issuer we’ll launch the mockup publicly.”  

Pennexx acknowledges that these updates will unlock quite a few questions and feedback they usually say, “We’ll do our greatest by way of social media to reply questions as they’re posted.” They advise that the very best place to ask questions is overtly on twitter @pennexx. This manner they will reply them overtly and publicly. They proceed by saying, “We might not reply all questions, however we make our greatest effort to reply all questions posted constructively.”

Questions might also be posted at data@pennexx.web; many shareholders do get responses from the CEO immediately when questions are emailed in. A few of them put up these responses throughout the investor neighborhood.

It is usually beneficial that individuals comply with Mr. Risalvato on Twitter at https://twitter.com/vrisalvato as he intends to start out utilizing this account for way more frequent updates.

Vincent Risalvato mentioned, “Pennexx is at a pivotal level now in its progress the place funding of time and money can now begin producing income. It’s an thrilling time and I’m grateful to everybody who has and continues to assist the corporate and our success.”

About Pennexx Meals Inc.

About Pennexx Meals Inc. (PNNX: OTCMKTS US). Pennexx, via its wholly-owned subsidiaries, is a holding firm throughout the Software program/Web Business centered on social media, pay as you go debit playing cards, BitGift™, synthetic intelligence, focused advertising, and client rewards.

Protected Harbor Act: This launch might include “forward-looking statements” throughout the that means of Part 27A of the Securities Act of 1933, as amended, and Part 21E the Securities Alternate Act of 1934, as amended and such forward-looking statements are made pursuant to the secure harbor provisions of the Personal Securities Litigation Reform Act of 1995. “Ahead-looking statements” describe future expectations, plans, outcomes, or methods and are usually preceded by phrases reminiscent of “might,” “future,” “plan” or “deliberate,” “will” or “ought to,” “anticipated,” “anticipates,” “draft,” “ultimately” or “projected.” You might be cautioned that such statements are topic to a large number of dangers and uncertainties that would trigger future circumstances, occasions, or outcomes to vary materially from these projected within the forward-looking statements, together with the dangers that precise outcomes might differ materially from these projected within the forward-looking statements on account of varied elements, and different dangers recognized in an organization’s annual report.

For extra info, go to our web site at https://yoursocialoffers.com or https://pennexx.net or name 866-928-6409. Please comply with us on Twitter @Pennexx.



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