COLORADO SPRINGS, Colo., Nov. 18, 2022 (GLOBE NEWSWIRE) -- This is the BCNN Board of Directors letter to shareholders.
To our Shareholders
This is the first letter to our shareholders, and we are excited to share with you our vision for the Company after our merger with Tekumo LLC in June.
Tekumo means “Tech Cloud” in Japanese. In a world of smart, connected devices, there remains a “last-mile” issue of installing, monitoring, and managing such systems. Product and service companies all need a new service model. Tekumo is reinventing that process by deploying an intelligent service delivery platform that provides the “human link” in the installation and maintenance of technology systems, as well as providing a “smart interface” for the monitoring and management of connected devices.
Opportunity
We are entering an industrial revolution in which the application of the “internet of things” (IoT) across industries like housing, retail, energy, and healthcare represents a trillion-dollar opportunity.
The number of connected devices is exploding, and digital transformation is everywhere. This is expected to impact a wide variety of business areas:
- Retail and Quick Service Restaurants face elevated client expectations with multiple new digital channels: order anywhere/anytime; dynamic digital signage; new POS technology; access controls; and kiosks.
- Smart Buildings: Smart apartments and office buildings offer property managers more control, more insight and better ROI through smart locks to control access, smart thermostats to control costs, switches and outlets to allow for remote control, and water loss and conservation.
- Healthcare & Assisted Living: “Seniors are ready to embrace safety and smart monitoring technology and adopt active aging technology in order to live more independently” (Digital Trends).
- Utility Companies: are looking to leverage their customers’ home energy usage data to bolster their respective connected home and smart technologies. Utilities need to own the home with Amazon, Google and Tesla entering the power and utility business.
- Hospitality and Education: enhanced guest services and engagement through a variety of self-service technologies will change the Hotel industry. Digital tools and devices will change the 21st century classroom and improve campus control.
- Insurance and Risk Mitigation: Bundling modern insurance coverage with data driven connected smart devices is the core foundation of the rapidly growing InsureTech industry. The immediate opportunities for water loss and water damage mitigation with multi-family clients are extremely exciting.
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Our Foundation
A key factor in every Company’s success is its people. We have brought together a team with shared vision and shared history. Our previous ventures in the software, managed services, organic material manufacturing, retail and automotive verticals are currently generating over $300M in annual revenue.
- Strings D.E. Kozisek, CEO. Strings has over 25 years executive technology experience in Asia and the US. He founded Media Access Group in Japan, Hong Kong and Singapore, providing audio/visual design for Fortune 100 companies across Asia, which he successfully sold before founding Sequenza Inc in Colorado. At Sequenza, he pioneered a full-service delivery desk atop a contingent labor platform, Field Nation, to prove the Tekumo thesis of an end-to-end full-service platform.
- Phillip Dignan, President and Chief Financial Officer. Phillip is a senior corporate, finance and investment professional with “C level” experience in the technology, retail and energy segments. He was head of finance and corporate development at Field Nation. Phillip has completed numerous M&A and financing transactions, and was a founding partner of a Venture Capital firm and Vice President at Salomon Brothers International.
- Chris J. Nichols, Chief Strategist and Business Development. Chris is an experienced senior level executive and entrepreneur with a demonstrated history of success. Chris is responsible for strategic direction and business development. He was previously the Chief Sales Officer at Field Nation, one of our key labor resource partners. Chris has previous public market experience with Fisher Investments and General Electric Private Asset Management. He began his career at Dean Witter Reynolds.
- Jacob Beasley, Chief Software Architect. Jacob leads Tekumo’s engineering team, supporting operational needs as well as customer and vendor integrations. He is a digital entrepreneur with a focus on software innovation and process simplification. Jacob has 15+ years of experience in the supply chain industry and has directed engineering teams at Fortune-50 companies as well as multiple startups including Field Nation.
- Graham King, Chief Operating Officer. Graham brings over four decades of leadership in the services industry, having held C level and board positions in service companies, OEM’s and distributors including Tech Data, Avnet, and StorageTek. His passion and strategic creativity in the service industry is highly recognized, including programs he created in partnership with IBM.
- The Service Delivery desk and Development team have a depth of service industry and software experience, and include members from Field Nation – completing our next generation platform team.
Our Products
Tekumo helps product and service companies easily install, monitor and manage connected devices – 24/7. We offer three main solutions:
- TekumoPRO connects enterprises, retailers, and OEM’s with local skilled resources to install and maintain technology systems. It delivers a smarter dynamic workforce, intelligent automation, real-time visibility, comprehensive workflow management and full integration into client service management systems.
- TekumoSMART completes your service chain for smart connected devices. It installs, monitors and manages sensors, devices gateways, hubs, and data for multiple verticals including Multiple Dwelling Units (MDU’s), Quick Service Restaurants (QSR’s), Assisted Living, Retail, Hospitality, Utilities, Builders, Insurance, and Healthcare – all with 24/7 onsite support.
- TekumoIQ provides real-time risk management and process management data from all connected assets and service event outcomes, accessible via Tekumo dashboards or directly delivered into any end user ecosystem.
Simply put, Tekumo delivers our customers product service needs.
Our History
We started Tekumo in August 2019. It was formed as a Colorado limited liability company. We acquired all the assets, contracts and intellectual property of Sequenza Inc. in January 2020. Sequenza dates back to 2013 as a managed service provider for IT and telecommunication services having completed projects for such companies as:
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We acquired the service contracts of Sequenza and began to develop the TekumoPRO service platform to intelligently automate the service delivery process. That platform has now successfully delivered over 25,000 work orders, and is fully integrated into the leading technician marketplaces – Field Nation and WorkMarket.
The TekumoPRO platform simplifies the way Project Managers engage and manage service delivery using an external non-employee technician workforce that works in conjunction with an internal ‘W2’ field force. We term this a “Dynamic Workforce Management System.”
The benefits of such a system are that it provides a “single pane of glass” to view and manage all service delivery activity; it “standardizes workflow” and processes across an organization, enabling better consistency and quality of service outcomes; it “reduces” the number of individuals involved in service tracking & administration as well as reducing cost through process automation; and addresses “margin-stacking” by directly passing through the lowest technician cost. All of this is delivered as a “pay- as-you-go” service model that can be “fully integrated” into a customer’s management systems.
Recognizing that connected devices are increasingly “smart” we began in 2022 to develop our System Monitoring And Reporting Technology, TekumoSMART. There remains a “last-mile” issue of installing, monitoring, and managing such systems – whether that be a point of sale (POS) device, a digital menu board, or any of the billions of sensors that form the “Internet-of-Things”.
Tekumo now offers a “whole solution” in that it manages the “human link” in the installation and maintenance of such systems, as well as providing a “smart interface” for the monitoring and management of those connected devices.
The Expansion Stage
In June 2022, Tekumo entered into a Contribution Agreement with Balincan in which it became the fully owned operating subsidiary of the Company.
Being a public company is a key element in our growth strategy, in that it will provide us with greater access to capital to launch our full product offering, enhance our ability to attract additional talent to our management team, and allow us to use our public equity to execute on a future acquisition strategy.
An important element of the Exchange Agreement was that we were able to reach agreement with debt holders and prior stockholders to recapitalize the Company by eliminating all outstanding debt and Preferred Stock in exchange for common shares. We were also able to complete an initial financing of $1.495 million in convertible notes. This Agreement significantly improved our capital structure and balance sheet.
The Exchange Agreement: For more details related to the Exchange, please see the Company’s Current Disclosure filed with OTC Markets on November 14, 2022.
It is our stated goal of uplisting to a senior exchange. We feel this will catapult us onto a new level in terms of access to institutional investors, helping to finance accelerated growth, and creating long-term shareholder value.
In summary, we have accomplished a great deal in the two plus years of our development phase, and we are even more excited about the next expansion stage. We are thankful to our customers for their business and trust, to each other for our passion and commitment to something bigger than ourselves, and to our shareholders for your continued support and encouragement.
Sincerely,
Strings, Phillip and Chris
Founders and Directors of the Board
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Safe Harbor:
Forward-Looking Statements
Any statements made in this press release which are not historical facts contain certain forward-looking statements, as such term is defined in the Private Security Litigation Reform Act of 1995, concerning potential developments affecting the business, prospects, financial condition and other aspects of the company to which this release pertains. The actual results of the specific items described in this release, and the Company’s operations generally, may differ materially from what is projected in such forward-looking statements. Although such statements are based upon the best judgments of management of the Company as of the date of this release, significant deviations in magnitude, timing and other factors may result from business risks and uncertainties including, without limitation, the Company’s dependence on third parties, general market and economic conditions, technical factors, the availability of outside capital, receipt of revenues and other factors, many of which are beyond the control of the company. The Company disclaims any obligation to update the information contained in any forward-looking statement. This press release shall not be deemed a general solicitation.
Contact: Christopher Nichols, Investor Relations 719-900-4535
