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Letter to Shareholders

From Inas Azzam, CEO and President of Signature Devices

I am thrilled to be a part of Innovo Technology.  This is an exciting time for us and I see a bright future for the company, its team, and shareholders.  Innovo is the culmination of years of work of its founders and team members.  It continues to exist today because of the financial support of its shareholders and for that we are very thankful.

 

Innovo Technology is the result of the aggregation of four innovative companies combined under one unified vision.  Our goal is to evolve these company’s into a platform that is a blend of hardware and software that can be leveraged to market highly desirable products in growing segments like digital media distribution, social media based advertising, and Internet of Things.

 

Each of the four companies contributes a fundamental component to a symbiotic organization that is poised to be a leader in its respective markets.  

 

MorpheusAV is the company that I co-founded along with a few professional colleagues in 2012.  The original mission of the company was to produce the best media server and player ecosystem that can be easily integrated into any home automation project.  We sought to differentiate ourselves from the rest of the market by making a product that is high quality and flawlessly reliable; a plug-it and forget-it approach.  By building quality into every product, we aim to make our customer experience nothing less than pure delight, that the defective rate is negligible, and after-sale support cost is kept in check.  

 

MorpheusAV offers robust Linux development knowledge, solid hardware manufacturing relationships, hardware design, driver software, media playback and server platforms, an extensive international distribution network, and a seasoned management team.

 

Tazerwear and Knoton bring Internet of Things experience, micro development environment, Artificial Intelligence algorithms and a strong R&D.  

 

TruckIt’s contribution is in design, deployment, cloud platform, mobile apps knowledge and a promising use case for the Knoton; our Internet of Things device.  TruckIT is not just a food truck platform.  It is a powerful social notification platform.

 

Each one of these companies is an essential cog in the Innovo Technology wheel that will deliver shareholder value.

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What have we done so far

The last few months have been very busy indeed. We have managed to complete the merger of the four companies to form Innovo. We have also started to consolidate the technology under one platform. We continue to bring on board a very strong management team, development team and advisors from both the technical and business realms to help us stay on task and stay focused. We have also continued to innovate, produce and release new products. The results so far are very promising. Shareholder value is up by four fold.

Where do we go from here

The next six months are already shaping up to be very eventful as well. Before year end we plan to complete a unified platform for all of our technologies. This will help us achieve better margins on our products by lowering the costs of manufacturing and software development. This will also enable to us to successfully engage and address new markets by allowing us to become even more innovative as we become more focused.

Our marketing efforts will also increase as we begin launching the Morpheus brand in the USA. So far Morpheus has only been sold internationally. The US market obviously presents a large opportunity that we want to take full advantage of.

We will also work towards growing the market of the great social notification platform of TruckIT and develop new markets for the product such as restaurants, event venues and the growing pop-up market.

We are hard at work on the technology front. The goal is to transform Innovo Technology into a single hardware platform that can be morphed into any number of devices. This means that we will continue to write powerful software that can also be seamlessly transformed into apps using our proprietary libraries along with our vast knowledge in leveraging the open source packages available to us.

We have already started the work on this important element and have completed the initial design of the Knoton Device with a goal of hardware prototyping before the end of 2017. We have also begun incorporating Artificial Intelligence into our platform. Without giving away our competitive advantage, all of our products will have an Artificial Intelligence component by year’s end.

Team Effort

Innovo Technology is more than hardware boards and software code. It’s the synergistic sum of all of its innovators visions. Everyone at Innovo is committed to its success. We are all emotionally, intellectually and professionally invested in it and dedicated to its success. I will do my level best to continue encouraging and nurturing our team’s engagement and commitment in order to drive the company and subsequently shareholder value higher. All members of team Innovo are entrepreneurs at heart and we are encoding that into the culture of the company. We all started developing our products because we identified problems to solve and market needs to address. Ours is a market driven approach that will continue to drive us.

The next few months are exciting and crucial for us. I am looking forward to executing on our strategy to continue growth, consolidate resources, develop new markets and increase shareholder value.

I also value the support of all our shareholders and will continue to update you on a regular basis about our progress.

Regards,

Inas Azzam

CEO

Innovo Technology

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