Miami, FL – October 6,2022 – ShiftPixy, Inc. (Nasdaq: PIXY) (“ShiftPixy” or “the Company”), a Florida-based national staffing enterprise which designs, manages, and sells access to a disruptive, revolutionary platform that facilitates employment in the rapidly growing Gig Economy, today discusses the Quelliv incubation process at ShiftPixy and ShiftPixy Labs. As announced on October 4, 2022, through ShiftPixy Labs which is designed to take a unique business idea from concept through to mass commercialization, the Company completed the successful incubation launch of Quelliv Inc. low level laser centers.
The incubation process at ShiftPixy Labs starts with a deep dive into commercial market potential. The teams then pull together extensive research and financial analysis to build out the business plan. The plan becomes the foundation for framing the investor case for the new business for which the teams compile all the documents and work flows to bring in investor participation.
The result is a near term public offering to bring the business to the capital markets for continued growth capital formation. The Quelliv project is being position for a capital markets entry in early 2023. They are targeting 500 stores for rollout within the next 24 months. Major influencers like Tony Robbins, and professional athletic trainers have commented on their positive experience using the Quelliv laser technology.
In ShiftPixy Labs’ operation we work through the consumer engagement process and build the mobile technology for the specific demographic target, delivering the value of the product or service. The team builds a very sticky connection through the mobile customer application that is designed to elevate customer engagement and sharpen remarketing opportunities.
“Quelliv will be another great use case for the ShiftPixy Labs. This is the first in a number of opportunities we are evaluating to apply our unique business tools. Our ultimate goal is to elevate great ideas and maximize monetization,” said ShiftPixy Co-Founder and CEO, Scott Absher. “We expect to create a number of opportunities for equity interests in these types of engagements that will flow to ShiftPixy shareholders as dividends”.
Quelliv was designed to introduce a proprietary, high value and high efficacy photobiomodulation technology trained to address a number of biological applications in the wellness market’s highest demand subsectors. Quelliv’s trained laser technology is uniquely applied to anti-aging, weight management, pain management and scalp rejuvenation. The Company has launched its initial four south Florida locations with two additional locations coming online in Q4 2022. The Company plans to launch a national rollout to major metro markets in Q1 of 2023 with a goal of 500 company owned locations throughout the US longer term.
The company sells its Genesis One photobiomodulation equipment to professional and collegiate sports teams for rapid athlete recovery.
ShiftPixy is a disruptive human capital services enterprise, revolutionizing employment in the Gig Economy by delivering a next-gen platform for workforce management that helps businesses with shift-based employees navigate regulatory mandates, minimize administrative burdens and better connect with a ready-for-hire workforce. With expertise rooted in management’s nearly 26 years of workers’ compensation and compliance programs experience, ShiftPixy adds a needed layer for addressing compliance and continued demands for equitable employment practices in the growing Gig Economy.
Any statements contained in this press release that do not describe historical facts may constitute forward-looking statements. These forward-looking statements include, among other things, statements regarding the anticipated use of proceeds from the private placement, the anticipated closing date of the private placement and the anticipated filing and effectiveness date for a registration statement related to the resale of the common shares and common shares underlying warrants from the private placement. Although such forward-looking statements are based upon what management of the Company believes are reasonable assumptions, there can be no assurance that forward-looking statements will prove to be accurate. If any of the risks or uncertainties, including those set forth below, materialize or if any of the assumptions proves incorrect, the results of the Company, could differ materially from the results expressed or implied by the forward-looking statements we make. The risks and uncertainties include, but are not limited to, risks associated with the nature of the Company’s business model; the Company’s ability to execute its vision and growth strategy; the Company’s ability to attract and retain clients; the Company’s ability to assess and manage risks; changes in the law that affect the Company’s business and its ability to respond to such changes and incorporate them into its business model, as necessary; the Company’s ability to insure against and otherwise effectively manage risks that affect its business; competition; reliance on third-party systems and software; the Company’s ability to protect and maintain its intellectual property; and general developments in the economy and financial markets. These and other risks are discussed in the Company’s filings with the SEC, including, without limitation, its Annual Report on Form 10-K, and its periodic and current reports on Form 10-Q and Form 8-K. The Company undertakes no obligation to update forward-looking statements if circumstances or management’s estimates or opinions should change, except as required by applicable securities laws. The information in this press release shall not be deemed to be “filed” for the purpose of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of that section, and will not be deemed an admission as to the materiality of any information that is required to be disclosed solely by Regulation FD. Further information on these and other factors that could affect the financial results of the Company, is included in the filings we make with the SEC from time to time. These documents are available on the “SEC Filings” subsection of the “Investor Information” section of the Company’s website at https://ir.shiftpixy.com/financial-information/sec-filings, or directly from the SEC’s website at https://www.sec.gov.
Consistent with the SEC’s April 2013 guidance on using social media outlets like Facebook and Twitter to make corporate disclosures and announce key information in compliance with Regulation FD, the Company is alerting investors and other members of the general public that the Company will provide updates on operations and progress required to be disclosed under Regulation FD through its social media on Facebook, Twitter, LinkedIn and YouTube. Investors, potential investors, shareholders and individuals interested in the Company are encouraged to keep informed by following us on Facebook, Twitter, LinkedIn and YouTube.
Source: ShiftPixy, Inc.
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