Sugarmade
Begins
Development of Artificial Intelligence Based Hemp Cultivation
Monitoring Systems
MONROVIA, CA -- May 14, 2019 -- InvestorsHub NewsWire
-- Sugarmade,
Inc. (OTCQB:
SGMD), a major supplier to the growing hydroponic cultivation
sector, today announces a
new corporate initiative to develop cultivation monitoring systems
for hemp and other agricultural
commodities. The
Artificial Intelligence (AI)
driven devices will be placed
at various locations within
hemp fields
to gather vital information about soil moisture, temperature,
humidity, etc.
and will be
data linked back to central control systems.
This monitoring system will allow hemp cultivators to actively
monitor conditions in real time. Sugarmade has entered into a joint
venture with an engineering group to develop and commercialize
the technology.
"Hemp is becoming one of the
world's most valuable crops.
Cultivators and investors are actively
seeking ways to monitor the health of the crop to ensure
maximum
yields. This platform, which will be
based on AI software from some of the world's leading technology
companies. will not only provide real time tracking of field
conditions, but will also make active recommendation to mitigate
issues. We have launched this
initiative to meet the pressing needs for
cultivation monitoring of this valuable
agricultural commodity," commented Jimmy Chan, CEO
of Sugarmade.
The new cultivation
monitoring technology will be based on narrowband Internet of
Things technology, often referred to as NB-IoT, which is a cellular
communications technology that provides wide-area coverage to
gather and disseminate information. The main advantages of
this technology are the long battery life of the data collection
devices, low complexity of the network and the significant coverage
extending well beyond existing cellular
technologies. For these reasons,
NB-IoT is practically well suited for use as a
networking technology for hemp cultivation
monitoring systems. Sugarmade believes this will be the
first system to be developed for this unique
application.
With hundreds of million of
dollars of investment pouring into hemp cultivation,
Sugarmade's
management sees
strong potential demand for cultivation monitoring
systems. According to a January
2019 report
issued by Arcview Market Research, the
worldwide consumer market for cannabis during 2018 was valued at
approximately $12.8 billion, up significantly from the 2017
estimated value of $9.5 billion. The market is expected
to to grow at approximately 27%
compounded annually through the year 2022.
About
Sugarmade,
Inc.
Sugarmade,
Inc. (OTCQB:
SGMD): Sugarmade,
Inc. is a product and brand marketing company investing in products
and brands with disruptive potential. Sugarmade's
brands include
Zenhydro.com, AthenaUnited.com, CarryOutSupplies.com, and
BudLife
Cannabis
Storage Solutions. For more information on the Company's products
visit http://www.Sugarmade.com.
FORWARD-LOOKING
STATEMENTS: This release contains "forward-looking statements"
within the meaning of the safe harbor provisions of the U.S.
Private Securities Litigation Reform Act of 1995. Forward-looking
statements also may be included in other publicly available
documents issued by the Company and in oral statements made by our
officers and representatives from time to time. These
forward-looking statements are intended to provide management's
current expectations or plans for our future operating and
financial performance, based on assumptions currently believed to
be valid. They can be identified by the use of words such as
"anticipate," "intend," "plan," "goal," "seek," "believe,"
"project," "estimate," "expect," "strategy," "future," "likely,"
"may," "should," "would," "could," "will" and other words of
similar meaning in connection with a discussion of future operating
or financial performance. Examples of forward-looking statements
include, among others, statements relating to future sales,
earnings, cash flows, results of operations, uses of cash and other
measures of financial performance. Because forward-looking
statements relate to the future, they are subject to inherent
risks, uncertainties and other factors that may cause the Company's
actual results and financial condition to differ materially from
those expressed or implied in the forward-looking statements. Such
risks, uncertainties and other factors include, among others such
as, but not limited to economic conditions, changes in the laws or
regulations, demand for products and services of the company, the
effects of competition and other factors that could cause actual
results to differ materially from those projected or represented in
the forward-looking statements. Any forward-looking information
provided in this release should be considered with these factors in
mind. We assume no obligation to update any forward-looking
statements contained in this report.
For inquiries
please contact Jimmy Chan at (888) 982-1628 or info@Sugarmade.com.
SOURCE
Sugarmade,
Inc.