On January 17, 2023, BYND Cannasoft Enterprises Inc. (Nasdaq: BCAN) announced that in addition to the US Provisional Patent Application with serial number 63/297,009 that was filed on January 6, 2022, covering the monitoring and controlling aspects of its EZ-G device, the company filed a full-scale PCT application on January 5, 2023, under serial number PCT/IL2023/050016.
The PCT application is based on BYND Cannasoft’s prototype of the EZ-G device that is currently under development and its operational aspects as a learning adult device. The PCT application further claims priority from the US Provisional application and covers an adult device with a structure and one or more moving and vibrating elements.
In addition to potentially treating annoying phenomena in the female reproductive system, the EZ-G device includes technological advancements as a sex toy with a more realistic experience. The EZ-G device prototype uses sensors like a pressure sensor, temperature sensor, conductivity sensor, and heart rate sensor to determine what specifically enhances the users’ pleasure.
The EZ-G device uses artificial intelligence (AI) to transmit and receive data from the device’s sensors on conditions of the user’s sexual organs, such as moisture levels and pressure variations due to muscle contraction. The EZ-G prototype includes a Bluetooth component for controlling the adult device via an app installed on a smartphone or other portable device to collect user information about preferences and generate custom programs.
The data collected from the sensors is uploaded to the secured cloud, where it is combined with other antonymic user preferences, including the actual duration of operation of the adult device, lubrication level, and the ideal vibration level.
This information optimizes the operation of the device to satisfy the user sexually. The EZ-G device uses the collected secure data to learn the users’ responses and improve its operation to bring the user sexual satisfaction.
Wearable tech has seen tremendous growth in recent years. When most people think of wearables, they think of fitness trackers and smartwatches, but there is also an emerging trend in wearable sex toys.
The excitement of a sex toy and the thrill of clandestine public stimulation have contributed to this trend. Cannasoft intends to take advantage of the growth in the sextech market, which is expected to reach $62.32Bn by 2030.
According to Forbes, companies are working to innovate products that have an intelligent response to sexual activity to take advantage of this expected growth.
Yftah Ben Yaackov, CEO and Director of BYND Cannasoft said:
"The EZ-G device has evolved to provide treatment relief from sexual and mental problems, including the ability to have intercourse as it relates to anxiety and physical pain. The device is capable of enhancing sexual pleasure and reducing sexual pain by dispensing low concentrations of C-B-D oil lubricant in a controlled manner. It could be configured to use disposable capsules that include the C-B-D lubricant, which could be dispensed in accordance with data collected by the sensors. The sale of the disposable capsules containing the C-B-D lubricant would provide BYND Cannasoft with a revenue model much like the razor and the razor blade."
Find more key company details here.
And right now, BCAN has several potential catalysts to soak in right now. Check them out:
No. 1 BCAN Potential Catalyst - Low Float Volatility Could Approach Quickly In A Blink
According to the Yahoo Finance website, BCAN has a tiny low float.
The website reports this profile to have approximately 1.13Mn shares in its float.
Why is that important? It's important on one crucial level. Volatility.
Could more positive company news in 2023 provide a near term spark?
No. 2 BCAN Potential Catalyst - But What About The Men? Another U.S. Patent Filed
U.S. Patent filed by BYND Cannasoft to Expand its Artificial Intelligence and Machine Learning Algorithm to a Male Treatment Device
ASHKELON, Israel and VANCOUVER, British Columbia, April 27, 2023 (GLOBE NEWSWIRE) -- BYND Cannasoft Enterprises Inc. (Nasdaq: BCAN) (CSE: BYND) ("BYND Cannasoft" or the "Company") announced today that its Zigi Carmel Initiatives & In-vest-ments LTD. subsidiary filed U.S. Provisional Patent Application 63461609 on April 25, 2023, covering the mechanical structure, operation, and controlling aspects of a male treatment device for external use capable of gathering information and creating custom programs according to the collected data from the sensors and uploading the data to the cloud. This U.S. Provisional Patent Application marks BYND Cannasoft's third potential candidate that could introduce new advanced haptic experiences to the fast-growing sexual wellness and sextech market.
The male treatment device utilizes artificial intelligence and machine learning algorithms to control its operational parameters based on the user's physiological parameters. The user, or a partner, can control the device with a smartphone app. Data collected by the device's sensors can be uploaded to the cloud where it will be stored to remember user preferences to create a custom experience for the user.
Yftah Ben Yaackov, CEO and Director of BYND Cannasoft, said, "As the multi-Bn-dollar sexual wellness and sextech market continues to grow, the industry is undergoing tremendous changes in consumer preferences as devices are increasingly connected online and enabled with interactive content. In this market, A.I., machine learning, and haptic technology have the potential to personalize the operational parameters of sexual wellness devices based on the physiological parameters of the user." Mr. Ben Yaackov continued, "As a corporate lawyer, I recognize the value of licensing our potential A.I. and machine learning patent portfolio to customers in the sexual wellness market and producing innovative new products. The Board of BYND Cannasoft is committed to protecting the company's I.P. covering this potentially lucrative market and bringing this innovative technology to market."
Read the full article here.
No. 3 BCAN Potential Catalyst - If Positive Opinion Leads To Patent, It Could Be Game-Changing
The Patent Cooperation Treaty (PCT) Provides Positive Opinion on BYND Cannasoft’s AI-Based Female Treatment Device
ASHKELON, Israel and VANCOUVER, British Columbia, April 25, 2023 (GLOBE NEWSWIRE) -- BYND Cannasoft Enterprises Inc. (Nasdaq: BCAN) (CSE: BYND) ("BYND Cannasoft" or the "Company") announced today it has received a positive opinion from the Patent Cooperation Treaty (PCT) for its Artificial Intelligence (AI) Sex Tech-based Female Treatment Device. Along with its EZ-G device, the company plans to develop its groundbreaking AI-based adult device that incorporates machine learning algorithms based on user response to stimulation. The device will provide users with a personalized experience that meets various needs related to sexual pleasure, pain management, and medical conditions. BYND Cannasoft plans to move quickly toward monetizing any patents awarded to take advantage of the burgeoning trend in the global AI market, which is estimated to expand at a compound annual growth rate (CAGR) of 39.4 percent to reach USD 422.37Bn by 2028.
The Smart Adult Device utilizes one or more sensors to monitor the user's response to stimulation and overall state. By collecting data from its sensors, the device will adjust stimulation patterns and determine the lubricant dispensing rate, thereby facilitating sexual climax. User data is stored and analyzed to improve the device's operation to the user's preference.
To protect this innovative technology, Zigi Carmel Initiatives & In-vest-ments LTD, a subsidiary of BYND Cannasoft, has filed a US Provisional Patent Application and a full-scale PCT application covering the monitoring and controlling aspects of the adult device. The PCT application covers the device's structure, moving/vibrating elements, sensors (such as pressure, temperature, conductivity, and heart rate sensors), and a controller that receives sensor data and user preferences to determine operation.
The device also includes a communication component that provides a simple user interface, gathering information and creating custom programs according to the collected data from the sensors and uploading the data to the cloud.
The International Search Report and Written Opinion (ISR&WO) issued by the Israeli patent office acting as International Search and Examination Authority indicates the allowability of claims relating to certain features of the device. The allowable features relate to determining the device's location within a body cavity, determining data on body fluids and lubricant, obtaining heart rate data by the device, adjusting device operation to different lubricant and active materials, variation of device operation pattern to selected operation time and user satisfaction, and determining the level of user satisfaction based on physiological parameters.
Should BYND Cannasoft receive a patent from the PCT, it can benefit in several ways:
- Global Protection: A PCT patent application protects in all PCT member countries. This makes it easier and more cost-effective for a company to obtain patent protection in multiple countries.
- Time to Decide: The PCT process provides a company additional time to decide in which countries to pursue patent protection. The company has up to 30 months from the priority date to file national patent applications in individual countries.
- Enhanced Patentability: The PCT process can provide additional information on the invention's patentability through the International Search Report and Written Opinion. This information can help the company determine the potential scope of protection for its invention.
- Licensing Opportunities: A PCT patent application can be licensed to other companies, generating revenue through royalties. Additionally, the patent can increase the value of the company.
Read the full article here.
No. 4 BCAN Potential Catalyst - BCAN Plans To Use “Unique” License From Israel’s Ministry Of Health (Potential Revenue Driver)
Multinational BYND Cannsoft to Utilize Israeli License for Its EZ-G Smart Cartridges Using Artificial intelligence (AI) Software to Individualize Each Dose
Plans to formulate proprietary C-B-D ("CB") oil and brand through a licensed grower in Israel for distribution outside of Israel in its AI based device and EZ-G device
VANCOUVER, British Columbia and ASHKELON, Israel, March 14, 2023 (GLOBE NEWSWIRE) -- BYND Cannasoft Enterprises Inc. (NASDAQ: BCAN) (CSE: BYND) ("BYND Cannasoft" or the "Company") today announced plans to formulate a proprietary CB oil and brand through a licensed grower in Israel for distribution outside of Israel for its new artificial intelligence (AI) based device and its EZ-G device. BYND Cannasoft will utilize the knowledge and technology associated with its recent patent application to create various products, some of which will be combined with CB oils at low concentrations or other non-drug oils to increase pleasure in intimate relationships. BYND Cannasoft plans to market these products for its new AI-based device and its EZ-G device, like that of the razor/razor blade model. By selling the durable base product at a low-pro-fit margin, the Company can sell the associated proprietary consumable goods at a higher pro-fit margin to generate recurring revenues. The Company intends to utilize the full license its Cannasoft Pharma subsidiary received from the Medical Cann-a-bis Unit at the Ministry of Health of the State of Israel to engage in medical cann-a-bis without direct contact with the substance to develop its proprietary CB oils for its new AI-based device and its EZ-G device.
BYND Cannasoft also plans to utilize its license to market additional cann-a-bis products in Israel. In 2022 Israel imported more than 33,000 kg of medical cann-a-bis, in comparison to a total of 22,000 kg in 2021, mainly from Canada, Portugal, South Africa and Lesotho, making Israel the largest importer of medical cann-a-bis products in the world.i Researchers in Israel have studied the medical applications of cann-a-bis since the 1960s. Raphael Mechoulam and Yechiel Gaoni of the Hebrew University of Jerusalem made significant discoveries in the field when they isolated T-H-C from cann-a-bis in 1964. A 2017 survey showed that 27% of Israelis between 18 and 65 had used cann-a-bis in the last year, a sharp increase from 8.8% in 2009.ii The standardization of the medical cann-a-bis field in Israel is among the first in the world. This standardization results from the Medical Cann-a-bis Unit at the Ministry of Health of the State of Israel setting strict criteria to make the service and procurement of cann-a-bis products accessible to patients.
Yftah Ben Yaackov, CEO and Director of BYND, said, "The Israeli cann-a-bis market is a significantly growing market, and the field of medical cann-a-bis generates hundreds of Mn's of dollars a year. Our Cannasoft Pharma subsidiary receiving a license from the Medical Cann-a-bis Unit at the Ministry of Health of the State of Israel to engage in medical cann-a-bis without direct contact with the substance is a key point in our business plan." Mr. Yaackov continued, "The products we plan to bring to market may provide additional treatment options and respond to the unmet medical needs of patients. We will continue to pursue these unmet needs in this growth-oriented market and our AI-based products."
Israel has emerged as one of the leading countries for the consumption of medical cann-a-bis in the world. According to Israel's Health Ministry, more than 100,000 Israeli citizens have medical cann-a-bis permits, which is a 1,600 percent increase over the past decade. Israel's Health Ministry estimated that medical cann-a-bis consumption increased to 43 metric tons in 2021 from 28.5 million in 2020. According to Prohibition Partners, an industry analysis firm, Israel's medicinal cann-a-bis market had an approximate value of $264Mn in 2021, roughly $7Mn less than all of Europe's.iii The medical cann-a-bis products market in Israel has approximately $500Mn in annual sales volume. BYND Cannasoft intends to capture approximately 3% of this market, potentially generating $15Mn in sales.
Read the full article here.
BCAN Recap - The Top 4 Potential Breakout Catalysts To Know Right Now
No. 1 - Low Float Volatility Could Approach Quickly In A Blink
No. 2 - But What About The Men? Another U.S. Patent Filed
No. 3 - If Positive Opinion Leads To Patent, It Could Be Game-Changing
No. 4 - BCAN Plans To Use “Unique” License From Israel’s Ministry Of Health (Potential Revenue Driver)
Coverage is officially initiated on BCAN. When time permits, do this: