Epazz, Inc. (OTC Pink: EPAZ) is a cloud-based software company that specializes in providing customized cloud applications to businesses and higher education institutions. Shares surged 48.67% on Wednesday, January 30, 2019. Over the past month, Epazz has seen an average daily volume of 218,988 shares. However, on Wednesday, 1,018,674 shares traded hands, equating to $22,700 in dollar volume.
Shares surged on Wednesday after Epazz announced the formation of Farm Drone, Inc. as a wholly owned subsidiary. Farm Drone will “develop automated drone tracking solutions to eliminate routine tasks” for the hemp industry. The tasks include tracking the growth rate of hemp by capturing images via drones and analyzing the data using machine learning software. Shaun Passley, Ph.D., CEO of Epazz, commented, “We are utilizing world class technologies in order to create value added solutions which will dramatically enhance the capabilities of our software in order for businesses and governments to lower their costs.” Here is the full press release detailing Epazz’s new subsidiary, Farm Drone, Inc.:
Epazz, Inc. Press Release:
CHICAGO, Jan. 30, 2019 (GLOBE NEWSWIRE) — via NEWMEDIAWIRE — Epazz, Inc. (OTC: EPAZ) is pleased to announce it has formed Farm Drone, Inc. as a wholly-owned subsidiary for the company’s drone tracking solutions for the hemp industry that has now been legalized.
Farm Drone, Inc. will develop automated drone tracking solutions to eliminate routine tasks for the growing $10.6 billion hemp industry by 2025. Drone technologies have lowered the cost of air-based tasks that previously required pilots but now can be performed by drone and machine learning. Farm Drone will use drone and machine learning to track the rate of growth in hemp. Drones will be used to take daily and hourly images in a pattern determined by the artificial intelligence. The machine learning software will learn on hemp grow and predict the growth rate.
Epazz’s CEO, Shaun Passley, Ph.D., said, “We are utilizing world class technologies in order to create value added solutions which will dramatically enhance the capabilities of our software in order for businesses and governments to lower their costs. Farm Drone, Inc. will use drone technology and machine learning to provide valuable data to potential customers and may be spun off as an IPO.”
About Epazz, Inc. (www.epazz.com)
Epazz, Inc., is a leading cloud-based software company that specializes in providing customized cloud applications to the corporate world, higher education institutions and the public sector. Epazz BoxesOS™ v3.0 is the complete business web-based software package for small to midsize businesses, Fortune 500 enterprises, government agencies and higher education institutions. BoxesOS provides many of the web-based applications organizations would otherwise need to purchase separately. Epazz’s other products are DeskFlex™ (hoteling software) and Provitrac™ (an applicant-tracking system).
This is the “Safe Harbor” statement under the Private Securities Litigation Reform Act of 1995: Certain statements contained in this press release are “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements can generally be identified by the use of forward-looking statements such as “may,” “expect,” “intend,” “estimate,” “anticipate,” “believe” and “continue” (or the negative thereof) or similar terminology. Such forward-looking statements are subject to risks, uncertainties and other factors that could cause actual results to differ materially from future results or those implied by such forward-looking statements. Investors are cautioned that any forward-looking statements are not guarantees of future performance and that actual results may differ materially from those contemplated by such forward-looking statements. Epazz, Inc. assumes no obligation and has no intention of updating these forward-looking statements, and it has no obligation to update or correct information prepared by third parties that is not paid for by Epazz, Inc. Investors are encouraged to review Epazz, Inc.’s public filings on SEC.gov and otcmarkets.com, including its unaudited and audited financial statements and its OTC markets filings, which contain general business information about the company’s operations, results of operations and risks associated with the company and its operations.
Article By: Andrew Rego