Progaming Platforms CEO Erez Zino today published the following letter to shareholders.
As CEO of Progaming Platforms Corp. I am excited to inform all of our shareholders at our recent development reported in our Form 8-K filed with the SEC on August 19, 2013. We announced the signing of an agreement with BreedIT Ltd., an Israeli company ("BreedIT"), pursuant to which we will acquire an equity interest in BreedIT of 66.67% in consideration for providing certain thresh-hold financing for BreedIT.
BreedIT recently entered into a binding MOU with the Institute of Plant Science and Genetics of one of the leading universities of Israel, granting BreedIT an exclusive, world-wide license for a unique and highly sophisticated Intelligent Decision Support System (the "IDSS Software"), which was developed by a team consisting of among the world's leading breeding specialists for optimizing the breeding processes.
BreedIT's IDSS software provides advanced solutions for plant or animal breeders and researchers, generating and disseminating knowledge in breeding information technologies, aiming at assisting breeders to plan, manage and analyze their breeding data and to perform research activities quickly and effectively
We believe that the "IDSS Software, "that was developed and is being used by the BreedIT team of scientists and agronomists located at one of the leading academic agricultural institutes in the world, will dramatically change and improve both the world of agriculture breeding in general and the booming world of medical marijuana in particular.
The BreedIT IDSS Software addresses all activities related to plant or animal breeding by supporting breeders at every stage of the breeding process and facilitating communication between all parties involved, including those dealing with phytopathology, molecular biology, agronomy and field or laboratory trials. We believe that the IDSS System will significantly improve the planning, execution and management of the trial as well as the growing process.
Under the auspices of the Israeli university, which has access to the most advanced research laboratories and academic know-how, BreedIT will be at the leading edge of plant breeding R&D as a result of decades of accumulated knowledge and experience, making the IDSS Software unique, state-of-the- art breeding process and solution.
Since the IDSS Software is capable of substantially improving and optimizing virtually all breeding procedures, it will provide breeders with a highly-advanced and efficient means of increasing quantities, improving quality and producing more dedicated plants and animals, with better resistance to disease and environmental stress, as a result of the fact that the IDSS Software involves non-GMO and environmental friendly processes.
By using our proven IDSS technology to improve Cannabis strains and to breed new hybrids of Cannabis, we believe that BreedIT will be able to very well address the growing world need for better and more efficient commercial varieties of the plant. Our goal is to become the world leader of Cannabis breeding.
While BreedIT's IDSS Software represents the state-of-the-art technology for breeding, it requires strategic assistance in order to develop a billing and cloud support system. This know-how, technology and "GER" algorithm has already been developed by and is the provenance of Progaming Platforms Corp. Our Company will provide BreedIT an essential element for making the IDSS Software a definitive commercial product.
Dr. Oded Sagee, CEO and founder for BreedIT, has expressed his desire to integrate our technical expertise and capabilities into BreedIT's IDSS Software.
We will continue to inform our dedicated shareholders with additional updates in the coming weeks and months.
Erez Zino, CEO, Progaming Platforms Corp.
For more information, visit progamingcorp.com
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