Israeli Technology Company BYND Cannasoft Enterprises Files US Provisional Patent Application and Full Scale PCT Application for Its EZ-G Device
ASHKELON, Israel and VANCOUVER, British Columbia, July 31, 2023 (GLOBE NEWSWIRE) -- BYND Cannasoft Enterprises Inc. (Nasdaq: BCAN) (CSE: BYND) ("BYND Cannasoft" or the "Company") announced today Zigi Carmel Initiatives & Investments LTD, a wholly owned subsidiary of BYND Cannasoft, has filed a patent application for its AI based EZ-G device with the World Intellectual Property Office, also known as WIPO. The patent application listed as Publication Number WO/2023/13195 was published on the World Intellectual Property Organization's global database for intellectual property on July 13, 2023. The WIPO application specifically relates to adult toys utilizing one or more sensors for controllable operation and liquid administering mechanism. The next steps include substantive examination, followed by granting or refusing legal protection to the invention. According to its website, the World Intellectual Property Organization is the global forum for intellectual property (IP) services, policy, information and cooperation. It is a self-funding agency of the United Nations, with 193 member states.
"Filing our latest patent with the World Intellectual Property Organization is a testament to our unwavering commitment to innovation and technological advancement in the field of artificial intelligence and machine learning," stated Yftah Ben Yaackov, CEO and Director of BYND Cannasoft. "The technology behind our EZ-G device showcases our commitment to shaping the future of machine learning, as well as reflects the dedication and expertise of our talented team. We are excited about its potential impact on women's health worldwide."
In addition to potentially treating certain issues in the female reproductive system, the EZ-G device incorporates technological advancements as a sex toy, providing a more realistic experience. Equipped with sensors such as a pressure sensor, temperature sensor, conductivity sensor, and heart rate sensor, the EZ-G device prototype aims to identify specific factors that enhance users' pleasure. Through the use of artificial intelligence (AI), the device transmits and receives data from these sensors, capturing information about the conditions of the user's sexual organs, including moisture levels and muscle contractions' pressure variations.
Furthermore, the EZ-G prototype is designed with a Bluetooth component, enabling users to control the adult device via an app installed on a smartphone or other portable device. This app allows for the collection of user information on preferences, generating custom programs tailored to individual needs. The data collected from the sensors is securely uploaded to the cloud, where it is combined with preferences from other users. Factors such as the actual duration of operation of the adult device, lubrication level, and ideal vibration intensity are analyzed to optimize the device's performance and enhance sexual satisfaction.
The EZ-G device continuously uses the securely gathered data to learn and improve its operation, aiming to provide the utmost sexual satisfaction to users.
The burgeoning field of wearable technology has witnessed remarkable growth in recent years. While most people associate wearables with fitness trackers and smartwatches, there is an emerging trend in wearable sex toys. The allure of discreet public stimulation combined with the pleasure of a sex toy has contributed to the rise of this trend. BYND Cannasoft, recognizing the potential in the sextech market, intends to capitalize on this growth. Industry experts project the sextech market to reach $62.32 billion by 2030, and companies, including BYND Cannasoft, are actively innovating products with intelligent responses for sexual activities to meet the demands of this expanding market, as reported by Forbes.
About BYND Cannasoft Enterprises Inc.
BYND Cannasoft Enterprises is an Israeli-based integrated software and cannabis company. BYND Cannasoft owns and markets "Benefit CRM," a proprietary customer relationship management (CRM) software product enabling small and medium‐sized businesses to optimize their day‐to‐day business activities such as sales management, personnel management, marketing, call center activities, and asset management. Building on our 20 years of experience in CRM software, BYND Cannasoft is developing an innovative new CRM platform to serve the needs of the medical cannabis industry by making it a more organized, accessible, and price-transparent market. The Cannabis CRM System will include a Job Management (BENEFIT) and a module system (CANNASOFT) for managing farms and greenhouses with varied crops. BYND Cannasoft owns the patent-pending intellectual property for the EZ-G device. This therapeutic device uses proprietary software to regulate the flow of low concentrations of CBD oil, hemp seed oil, and other natural oils into the soft tissues of the female reproductive system to potentially treat a wide variety of women's health issues. The EZ-G device includes technological advancements as a sex toy with a more realistic experience and the prototype utilizes sensors to determine what enhances the users' pleasure. The user can control the device through a Bluetooth app installed on a smartphone or other portable device. The data will be transmitted and received from the device to and from the secure cloud using artificial intelligence (AI). The data is combined with other antonymic user preferences to improve its operation by increasing sexual satisfaction.
For Further Information please refer to information available on the Company's website: www.cannasoft-crm.com, the CSE's website: www.thecse.com/en/listings/life-sciences/bynd-cannasoft-enterprises-inc and on SEDAR: www.sedar.com.
Gabi Kabazo
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Cautionary Note Regarding Forward-Looking Statements
This press release includes certain statements that may be deemed "forward-looking statements" including statements regarding the filing of a final Prospectus. All statements in this release, other than statements of historical facts, that address future events or developments that the Company expects, are forward-looking statements including but not limited to intended business objectives and the expected timelines to accomplish those objectives. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance, and actual events or developments may differ materially from those in forward-looking statements. Such forward-looking statements necessarily involve known and unknown risks and uncertainties, which may cause the Company's actual performance and financial results in future periods to differ materially from any projections of future performance or results expressed or implied by such forward-looking statements. Such statements reflect the Company's current views with respect to future events and are subject to such risks and uncertainties. Many factors could cause actual results to differ materially from the statements made, including unanticipated regulatory requests and delays, final patents approval, and those factors discussed in filings made by the company with the Canadian securities regulatory authorities, including (without limitation) in the company's management's discussion and analysis for the year ended December 31, 2022 and annual information form dated March 31, 2023, which are available under the company's profile at www.sedar.com, and in the Company's Annual Report on Form 20-F for the year then ended that was filed with the U.S. Securities and Exchange Commission on April 27, 2023. Should one or more of these factors occur, or should assumptions underlying the forward-looking statements prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, or expected. We do not intend and do not assume any obligation to update these forward‐looking statements, except as required by law. Any such forward-looking statements represent management's estimates as of the date of this press release. While we may elect to update such forward-looking statements at some point in the future, we disclaim any obligation to do so, even if subsequent events cause our views to change. Shareholders are cautioned not to put undue reliance on such forward‐looking statements.
