PHOENIX, AZ / ACCESSWIRE / August 23, 2023 / The Stock Day Podcast welcomed LogicMark, Inc. (NASDAQ:LGMK) (the "Company"), creator of innovative personal safety and security technology for the care economy. CEO of the Company, Ms. Chia-Lin Simmons, joined Stock Day host Kevin Davis.
Davis began the interview by asking about the Company's background and current projects. "We have been working to build a lot of change not just in the company, but in the PERS industry itself," said Simmons. "We recently announced the launch of a new hardware product, which actually represents the launch of three products on a cloud-based system," she shared. "This is very exciting for us as a hardware company that is now entering the staff and comfort space."
"How has the PERS industry evolved over the years and how does your company fit into that industry?", asked Davis. "LogicMark has always been at the forefront of the PERS industry, we were one of the first to do a non-monitor product," explained Simmons. "The industry continues to evolve," she added. "We are working to create a suite of products that are transformative, while looking at the industry differently," said Simmons. "We are trying to bring some difference to the industry in terms of how we look at what it means to bring connective technology to those who need to live independently."
"By 2040, 1 in 4 Americans will be 65 years old and over," continued Simmons. "Of that market, 1 in 4 will fall," she added, noting that this represents the biggest age shift in decades. "That has significant health effects and increases the likelihood of a second fall," said Simmons. "Meanwhile, we are losing people in the care economy, leading to a shortage," she added. "90% of people 55 and over would like to live independently, so it's about allowing those individuals to do that while their loved ones and caretakers have peace of mind."
"What is on the horizon for LogicMark?", asked Davis. "We are excited to be in this industry to try to fundamentally shift how people think about this technology," said Simmons. "We believe there is a real necessity in the market to be flexible, which means when new features come onboard you shouldn't be stuck with a device that doesn't have the latest technology," she explained, noting how the cellphone industry achieves this through updates. "This wasn't occurring in the PERS industry, until now."
"With the launch of Freedom Alert Plus, we are launching a proprietary system," said Simmons, noting that the devices will update the hardware of older devices to allow access to new features. "We will achieve this with a level of Over-The-Air (OTA) updates," she shared. "This fundamentally shifts how the industry should be and we hope what this does is spark the imaginations of the rest of this industry and how we look at caretaking."
To close the interview, Simmons encouraged listeners and shareholders to keep up-to-date on the Company's current and upcoming projects as they continue to revolutionize the PERS and care industry.
To hear the entire interview with Ms. Chia-Lin Simmons, follow the link to the podcast here:
About LogicMark, Inc.
LogicMark, Inc. (Nasdaq:LGMK) is on a mission to let people of all ages lead a life with dignity, independence and the joy of possibility. LogicMark provides personal emergency response systems (PERS), health communications devices, personal safety apps, services and technologies to create a Connected Care Platform. Made up of a team of leading technologists with a deep understanding of IoT, AI and machine learning and a passionate focus on understanding consumer needs, LogicMark is dedicated to building a ‘Care Village' with proprietary technology and creating innovative solutions for the care economy. The Company's medical alert pendants revolutionized the PERS industry by incorporating two-way voice communication technology directly into its medical alert pendant, providing this life-saving technology at a price point everyday consumers can afford and the ability to receive care at home and confidence to age in place via direct-to-consumer channels. The Company's PERS technologies are sold through the United States Veterans Health Administration and dealers and distributors. LogicMark has been awarded a contract by the U.S. General Services Administration that enables the Company to distribute its products to federal, state, and local governments. To learn more, visit logicmark.com.
Cautionary Statement Regarding Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements reflect management's current expectations, as of the date of this press release, and involve certain risks and uncertainties. Forward-looking statements include statements herein with respect to the successful execution of the Company's business strategy. The Company's actual results could differ materially from those anticipated in these forward-looking statements because of various factors. Such risks and uncertainties include, among other things, our ability to establish and maintain the proprietary nature of our technology through the patent process, as well as our ability to possibly license from others patents and patent applications necessary to develop products; the availability of financing; the Company's ability to implement its long range business plan for various applications of its technology, including the anticipated product launches of Aster, CPaaS and Freedom Alert Plus; the Company's ability to enter into agreements with any necessary marketing and/or distribution partners; the impact of competition, the obtaining and maintenance of any necessary regulatory clearances applicable to applications of the Company's technology; the Company's ability to maintain its Nasdaq listing for its common stock; and management of growth and other risks and uncertainties that may be detailed from time to time in the Company's reports filed with the SEC.
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