Leonite Capital Acquires Axios Mobile Assets in Receivership Sale

April 16, 2018

Axios Mobile Assets Corp., formerly traded on the TSX Venture exchange (AXA:CN, AXA.H: APH, and OTCQB: AXBSF), entered into receivership in February. In September 2017 Leonite Capital acquired the assets of Axios Mobile Assets Corp., and its Subsidiaries. 

Avi Geller, Leonite’s Chief Investment Officer, and Axios’s Executive Chairman said: 

“We believe that Axios had proven out their business model when approaching both scale and density in their target markets. Impressively, they had achieved it with very limited access to committed, long term capital. In particular, the IP that was developed around, advanced material pallets, the sensor technology, and carbon credit protocol are truly unique, innovative and scalable. We see enormous potential in each of them separately, and even more so when combined as a complete end to end solution.”

Leonite intends to relaunch the only true Safe Quality Food (SQF)™ certified pallet pooling business with a focus on cold chain, pharma and other high value supply chains. Management has spent the last few months consolidating the pallet assets, pallet wash machines, manufacturing equipment and robots in the US, and will be re-establishing pallet pooling operations.

The company has been restructured into three new operating groups:

  1. Axios Pallets Ltd. which will manage the pooling business, and provide FM Global, SQF certified, sanitized after each use, lightweight, premium pallets
  2. ChainVu Ltd. through which the company provides low cost, network managed, smart sensors, and site by site as well as supply chain wide live services, to improve product traceability and safety to deliver better products, with less supply chain waste, at lower cost.
  3. Crbnn Ltd. which is specifically set up to take advantage of the VCS Carbon Protocol Axios developed and had approved. Crbnn will be focused on blockchain applications for the aggregation of carbon tonnage in transportation and storage of goods and will seek other carbon friendly applications that can make use of the Crbnn distributed ledger and token for their verified carbon applications.

The group of companies will each seek customers, strategic partners, and potentially, independent capital as they expand. The companies seek to pool their existing pallets, build new pallets, develop and market ChainVu products and services to the Food, Cold Chain and Pharma verticals, and further the blockchain development in carbon reduction through Crbnn Ltd..

Each company, in its own right, offers powerful value-added products and services to its stakeholders. However, when combined, the product and services suite offered is a world class integrated logistics and product visibility solution embedded into supply chain operations. The system provides substantial cost savings while improving product security, safety, and overall sustainability while reducing spoilage and damage, within the supply chains it serves.

Since the acquisition by Leonite, significant improvements have been implemented across the board. 

  • A new FM compliant Axios pallet coating that improves asset durability and extends its duty cycle longevity, including a repair process to previously damaged pallets 
  • Reengineering of a next generation ChainVu sensor with significantly lower power consumption along with improvements to temperature accuracy and latency, shock, and vibration functions. These changes ensure that ChainVu’s sensor is truly world class in operations grade, live performance. 
  • Crbnn is currently verifying the first ton of carbon credits in what will be the world’s first carbon credit issued for weight-based reduction of carbon emissions in the supply chain.

Avi Geller said this of the re-launch: “We are extremely excited to bring a new and improved Axios back to the market. There is a real need for supply chain enhancement with a seamless end to end interface. We are confident that we are adding value to supply chains with our advanced re-usable smart pallets. In addition, we are pushing the envelope in the operations embedded coordinated applications of Internet of Things (IoT), smart connected goods, and blockchain based services for product security and safety, and automated transactions. We can accomplish all this while improving profitability and sustainability for all it’s stakeholders.”

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