BOCA RATON, FL, Feb. 25, 2020 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE -- Smart Decision, Inc. (OTCMKTS: SDEC) ("Smart Decision" or the "Company"), a next-generation consumer-based LED & CBD algorithm innovator, is excited to announce that the Company has begun advanced talks with multiple top-tier national quality testing labs in the cannabis and hemp-based products space. Smart Decision is committed to positioning itself as a leader in quality assurance and consumer protection in the CBD-based products marketplace.
“The CBD market is like any other ‘young’ market undergoing rapid mainstream adoption: products vary widely in quality and consumers really don’t have any idea what they’re going to get,” remarked Adam Green, Smart Decision CEO. “Public sector resources are completely non-existent at this point, and private sector solutions basically encompass a loose network of highly variable testing labs. Many of these labs are highly suspect, while some are blue chip, with outstanding personnel, first-rate equipment, and a long list of achievements, and will become powerful factors in driving consumer decision-making as the industry evolves.”
Smart Decision has committed itself to being on the vanguard in helping to establish a quality-based hierarchy of consumer confidence, and has begun the process of selecting a primary partner that the Company believes will emerge as the gold standard in the CBD market, much as UL and ETL have become the established gold standards in certifying quality assurance in the electronics industry.
Green continued, “When consumers see that ‘UL’ label, they know it’s going to do what it says on the package. They have confidence. In the CBD World, there are several hundred testing labs, and testing labs are not created equal. Not at all. No industry, no matter how established and regulated, is going to produce 100% quality assurance, but we believe CBD can hit a target of 80-90% if consumers skew toward the best-tested products, knocking the garbage off the market, and if companies provide transparency in test results and batch records, and beef up information access where necessary. This is an inevitable process as this industry evolves. Consumers will hold producers accountable. We aim to expedite that process as much as possible.”
Management believes that the Company can align itself with top testing labs and produce value for consumers while producing value for its shareholders: as the Smart Decision brand becomes associated with the gold standard in quality assurance, more top CBD products brands will want to be associated with Smart Decision.
At this point, the Company is already in advanced-stage talks toward some form of binding partnership with at least one of the industry’s top-tier testing labs.
Green concluded, “Unfortunately, I would guess that we're still a couple of years away from true and potent consumer protection through established quality assurance processes and transparency in the CBD space. And it may take public-sector regulatory measures at the state or federal level to enforce that type of transparency. In our own in-house research, we found that probably 40% or fewer of current CBD companies were really being transparent in their practices and reporting. Without top-down guardrails, it’s easy for the shady players to stay in the game. But this game always plays out the same way: consumers start to figure out who to trust, and the market skews heavily in that direction. We want to get in early on that next chapter and help to shape it, and align the Smart Decision brand with that theme.”
About Smart Decision Inc.
Smart Decision Inc. has researched and is developing algorithms for the consumer and business LED Lighting and CBD markets. With their patent-pending “Smart Decision” algorithms, the confusion of selecting the right product(s), whether for LED or CBD, will be significantly reduced. Ultimately, Smart Decision Inc. believes that selecting the right product the first time, dramatically cuts down on product returns and creates a positive purchasing experience for the consumer.
Forward-Looking Statements
This press release may contain "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Such statements include, but are not limited to, any statements relating to access to capital, liquidity, increased visibility, our growth strategy and product development, updates on the CRADA, and any other statements that are not historical facts. Forward-looking statements are based on management's current expectations and are subject to risks and uncertainties that could negatively affect our business, operating results, financial condition and stock price. Factors that could cause actual results to differ materially from those currently anticipated are: risks related to our growth strategy; risks relating to the results of research and development activities; our ability to obtain, perform under and maintain financing and strategic agreements and relationships; our dependence on third-party suppliers and partners; our ability to attract, integrate, and retain key personnel; the early stage of products under development; our need for substantial additional funds; government regulation; patent and intellectual property matters; competition; as well as other risks described in our SEC filings. Important factors that may cause the actual results to differ from those expressed within may include, but are not limited to: the success or failure of Smart Decision’s efforts to successfully market its camera; systems, other products and services as scheduled; Smart Decision’s ability to attract and retain quality employees; the effect of changing economic conditions; increased competition; the ability of Smart Decision to obtain adequate debt or equity financing. We expressly disclaim any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in our expectations or any changes in events, conditions or circumstances on which any such statement is based, except as required by law.
For more information, please contact:
Adam Green, CEO
Number: +1-(877)-26-SMART
Email: adam@smartdecisioninc.com
Corporate Website: http://smartdecisioninc.com
Consumer Website: https://cbdsmartdecision.com