VANCOUVER, British Columbia--(BUSINESS WIRE)--Ynvisible Interactive Inc. (the "Company" or "Ynvisible") (TSX-V:YNV, FSE:1XNA, OTCQB:YNVYF), a fast-growing firm in the Internet of Things market, today announced the expansion of its sales team, in response to the Company's growth in income from clients, and further aligning the 2025 Vision of expansion and worldwide sales.
Richard Ellinger, a 25-year sales executive, joins Ynvisible Interactive as its United States Sales representative. Keith Morton, CTO and founder of Display Logic, a leading designer and manufacturer of display-based products and solutions, joins Ynvisible's Advisory Board.
Ynvisible is a manufacturer of standard and customized ultra-low-power and easy-to-use electronic displays and indicators for everyday smart objects, Internet of Things ("IoT") devices, and ambient intelligence (intelligent surfaces). The Company sells prototyping, development, pilot production, volume production of electrochromic displays, and tailored IoT product solutions. Ynvisible's short-term revenues come from a mix of customer-funded developments that precede pilot and full-scale manufacturing.
Historically, Ynvisible's sales team is in Europe; Richard Ellinger extends Ynvisible's physical sales footprint to North America.
"Ynvisible is poised for growth in North America as Fortune 500 companies are based in the United States and feel we can deliver to them with a dedicated, US-based sales presence. We are continuing to see steady growth of client developments in the Fast Moving Consumer Goods, Medical Packaging and Logistics segments. The United States has rebounded significantly from the Covid-19 pandemic; our clients are seizing this opportunity to improve their supply chains and provide new, breakthrough products. We are thrilled to welcome Richard to join our team at the right time and in the right place," says Michael Robinson, CEO of Ynvisible Interactive.
"Richard Ellinger brings deep strategic business development expertise within the technology, cold-chain logistics, medical and packaging sectors. Ynvisible is now more accessible to our growing market. Richard is an expert at realizing holistic product solutions, and he accelerates our customers' path to commercialization," continues Tommy Hoglund, VP Sales & Marketing, Ynvisible Interactive.
Richard Ellinger joins Ynvisible Interactive Inc. as its US Sales representative, covering the United States. Before joining the Company, Ellinger was VP Sales and Marketing of American Semiconductor, where he led Sales and investment efforts. In addition, he spent four years at Packsense / Emerson as Chief Operating Officer and then Vice President of Operations, respectively. Before growing Packsense sales by 75%, Mr. Ellinger managed Temperature Assurance Group, providing solutions to Pharmaceutical and Biotechnology Cold Chain issues. Richard was CEO of Intelligent Thermal Solutions before his role at Temperature Assurance Group. Before that, he was the Director of Sales and Marketing for Tegrant Corporation, a leading provider of highly engineered protective, temperature-assured, and retail security packaging solutions. Before Tegrant Corporation, Richard worked in various Sales and Marketing leadership roles driving sales growth. Rich holds an MBA from the University of Notre Dame and a BA from St. Louis University and has studied French, German, and Russian.
Ynvisible's Advisory Board members infuse further Consumer, Technology, and Business insights into Ynvisible. These inspiring professionals work collaboratively with like-minded experts and organizations to cultivate relationships with industry, academia, government, and financial partners. Ultimately, this infusion of new perspectives will transform the entire Ynvisible value chain.
Keith Morton joins Ynvisible's Advisory Board as the current Chief Technology Officer and Founder of Display Logic, located in Hauppauge, New York. Display Logic offers various display products and solutions (LCD, OLED, touch-screen, and display enhancing technologies). Since its formation, Display Logic has consistently innovated in the areas of display performance and interfacing.
"We now have an Advisor that brings deep commercial display development and sales experience across the North American display market. Keith has strong Asian business relations, and he knows what it takes for Ynvisible to compete," starts Michael Robinson.
"Keith found Ynvisible and immediately engaged us on how to grow – this is a testament to Keith's energy and enthusiasm around new technologies and growing businesses. We are honored that Keith accepted to join our Advisory Board; we are already discovering our clear product differentiation and new business opportunities," Mr. Robinson concludes.
Before founding Display Logic in 2007, Keith Morton was Director of Marketing of the Display Division at Bell Microproducts, where he managed all display sales and marketing activities, supplier management, and integration. Before Bell Microproducts, Keith was Marketing Manager at ARROW Electronics. Keith also holds a patent in display optical improvement.
Ynvisible has granted incentive stock options to acquire an aggregate of 2,465,000 common shares in the capital of the Company at an exercise price of $0.75 (the "Stock Options") in accordance with its 10% rolling incentive stock option plan.
A total of 450,000 of these Stock Options were granted to an officer of the Company. All Stock Options are exercisable for a five-year term expiring July 1, 2026, and are subject to certain vesting provisions with 1/3 of the Options vesting on the date that is nine months from the date of grant, 1/3 vesting on the date that is 21 months from the date of grant, and the final 1/3 vesting on the date that is 33 months from the date of grant.
In addition, incentive stock options to acquire an aggregate of 350,000 common shares in the capital of the Company were granted with an exercise price of $0.63 on June 3, 2021 (the "Options"). A total of 100,000 of these Options were granted to a director of the Company. All Options are exercisable for a five-year term expiring June 3, 2026, and are subject to certain vesting provisions. The Stock Options granted to the director vest 1/3 on the date that is four months from the date of grant, 1/3 on the date that is eight months from the date of grant, and the final 1/3 vest on the date that is 12 months from the date of grant. The remaining 250,000 stock options vest 1/3 on the date that is nine months from the date of grant, 1/3 on the date that is 21 months from the date of grant, and the final 1/3 on the date that is 33 months from the date of grant.
About Ynvisible Interactive Inc.
Ynvisible is a leading company in the emerging printed and flexible electronics sector. Given the cost and power-consumption advantages over conventional electronics, printed electronics are a key enabler of mass adoption of the Internet of Things ("IoT") and smart objects. Ynvisible has the experience, know-how and intellectual property in electrochromic materials, inks, and systems. Ynvisible's interactive printed graphics solutions solve the need for ultra-low power, mass deployable, & easy-to-use electronic displays and indicators for everyday smart objects, IoT devices, and ambient intelligence (intelligent surfaces). Ynvisible offers a mix of services, materials and technology to brand owners developing smart objects and IoT products. Additional information on Ynvisible is available at www.ynvisible.com.
ON BEHALF OF THE BOARD OF DIRECTORS
"Michael Robinson," CEO, Ynvisible Interactive Inc.
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This news release contains forward-looking statements. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. All statements, other than statements of historical fact, that address activities, events or developments the Company believes, expects or anticipates will or may occur in the future, including, without limitation, statements about the Company's Q3 forecast of sales, cost of sales, operating expenses and income from other sources; the Company's business strategy, plans and outlooks; the future financial or operating performance of the Company; and future marketing and operating plans are forward-looking statements. Forward-looking statements are subject to a number of risks and uncertainties that may cause the actual results of the Company to differ materially from those discussed in the forward-looking statements and, even if such actual results are realized or substantially realized, there can be no assurance that they will have the expected consequences to, or effects on, the Company. Factors that could cause actual results or events to differ materially from current expectations include, among other things: the impact of COVID-19; risks and uncertainties related to additional costs being subsequently identified and the allocation of costs between reporting periods; and the possibility that the actual financial results will not be consistent with the Company's expectations. Actual results may differ materially from those currently anticipated in such statements. Readers are encouraged to refer to the Company's public disclosure documents for a more detailed discussion of factors that may impact expected future results. The Company undertakes no obligation to publicly update or revise any forward-looking statements, unless required pursuant to applicable laws.