DENVER – Akerna (Nasdaq: KERN), a leading enterprise software and compliance technology provider and developer of the cannabis industry’s first seed-to-sale enterprise resource planning (ERP) software technology (MJ Platform), has exercised its option to acquire the remaining 20% of solo sciences inc., upon closing of the option Akerna will own 100% of solo sciences inc. Akerna received shareholder approval to exercise the option in a shareholder vote last month.
“Akerna and solo sciences share a vision to protect consumers from dangerous counterfeit products,” said Jessica Billingsley, chief executive officer, Akerna. “Today, more than one million solo*CODEs have been sold, a major milestone, and another step in our commitment to create the pre-eminent global technology platform, addressing the entire supply chain and its regulatory bodies through accountability and transparency.”
solo sciences technology surpasses legacy authentication tools by closing the loop between the user and the manufacturer. Each solo*CODE has a unique fingerprint, a solo*TAG, for every package, augmented by the solo* app, which confirms if a product is real or fake. The technology is complementary to Akerna’s MJ Platform ERP system and is driving consumer safety through its anti-counterfeiting technology and alert functionality. Manufacturers that use a solo*CODE proprietary graphic trust mark on their product packaging enable consumers to scan products with the solo* phone app and learn if a product is real or fake and get real-time notifications. Additionally, solo*TAG is an alternative tagging technology to RFID for state tracking systems, where solo*TAG is used by Akerna’s government track and trace software, Leaf Data Systems, to service its contract with the state of Utah.
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Closing of the option is expected to occur on or about July 31, 2020, and is subject to final regulatory approvals and customary closing documentation.
Akerna is a global regulatory compliance technology company. Akerna’s service offerings include MJ Platform, Leaf Data Systems, solo sciences tech platform and Ample Organics. Since its establishment in 2010, Akerna has tracked more than $18 billion in cannabis sales. Akerna is based in Denver. For more information, please visit www.akerna.com