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Investors Scene: Spotlite360 (CSE:SPTL) Management Interview

Hey, everyone. I’m Jeremy Szafron. Welcome back to INVESTORS SCENE. Now, I’m excited to be talking to our next guest, Jim Greenwell. He’s the president of a company that’s really exciting. It’s a company that’s newly traded on the CSE. The company is called Spotlite360. Jim, thanks for being on the show.

– Thanks for having me.

– I tease briefly about my excitement about this. And the reason it is because we have an enterprise software company here, which is what you are. And you’re going into a supply chain, which is, essentially, you’re going to create more efficiency. There’s a ton of things here. Give a little bit of a lay of the land to the audience, if you will, a little bit about Spotlite360.

– Well, we enhance our customers’ digital supply chain. We’re a SaaS-based enterprise software company that leverages the Internet of things, IoT, blockchain, sensors to collect data-driven, real-time event information. So we’re capturing data.

And then we search and sort, and provide dashboards for the customer to see a lot more efficiency in the supply chain, and have this end-to-end, farm-to-table, seed-to-shelf mentality of we track all the event-driven data throughout the supply chain. And from a consumer perspective, they can have transparency of the entire tracing and tracking of the whole supply chain.

– It’s an interesting one because you talk about tracing, and tracking, and this transparency that consumers want. It was already a trend prior to COVID. I would imagine now there’s more emphasis on it. You really have an opportunity here to come into the market because there’s not many others that are doing it at this sophisticated level. Let’s talk a little bit about some of the different industries that you can plug and play this software into.

– Well, we’re really targeting pharmaceutical, health care, and agriculture, which is very broad food products, cannabis, across the board of agriculture. And we know, our research shows, that 90% of consumers want to have a relationship with the brand. And a very large majority of consumers will make purchasing decisions based on where it comes from, or what that transparency is.

They want to know, and they want to trust, the proof of the supply chain, proof of sustainability, proof of label claims. So what’s ever on the label, prove it to me. If you’re organic, show me an organic certification. And I can click on a QR code. I can enter a batch number. And I can see all the data and the history of this, literally, across the months and miles around the globe, what happened to this product.

So you have to think about the ecosystem of the suppliers that are involved in every product in these target markets. Pharmaceutical, for example, it could be made all over the world. And you have no visibility into a lot of information, not just the geography of GPS of where it was but the status of it. Was the temperature exceeded? Was it ever dropped?

All these sensors can track all this information. And our company leverages these off-the-shelf, industry-standard sensors, captures the data in real time, uploads it all into the cloud. So from a company perspective, you have total visibility. And from a consumer perspective, you have total visibility.

– I would imagine anywhere where compliance is an issue, just having that type of transparency, seeing it there, is such a value add too. I’m curious here. Going forward, I know that this is– you guys are collecting a ton of data. You know that this is what consumers want, meaning, businesses are going this direction too. What are some of the conversations you’re having? I mean, these are exciting times for you guys.

– Well, it’s clear that the regulatory demand is only increasing in these markets. The FDA is changing an enormous number of demands around food and cannabis. The Drug Supply Chain Securities Act mandates that pharmaceuticals are tracked, every pill, every bottle. And that only increases over the next few years.

So many of these companies are going to be forced to comply with these demands of regulation now and into the next few years in order to even stay in business. And then from a consumer perspective, they just want to know. If you have nothing to hide in your supply chain, then let me surf and data mine that. Let me see what it is, and let me see the status around all that. So as curious as I may be around some claim, let me go look at all that.

And now with the climate change, and ESG, and sustainability, companies have to prove that the products were sustainably harvested. They were sustainably transported. There was carbon offsets for whatever carbon footprint was created in the supply chain. Well, you can’t do offsets if you don’t know what the original footprint was. So many companies are just learning now that they don’t have a lot of the data that they need to provide to the consumers and to make the claims. And frankly, a lot of companies that are following the sustainability path are seeing a market premium for their publicly-traded shares.

– Yeah, that’s the thing here is I think it’s important to note the fact that this isn’t only a trend, but it continues to be more significant every single day. And there’s a conversation that’s happening in a ton of boardrooms, really putting a ton of investment into this type of technology infrastructure for their own companies. Give me a little bit of the lay of the land here, Jim. What are we going to see from the company over the next, say, six months?

– Well, we are very excited about our pipeline because we know that a QR code, predominantly because of COVID, but not only because of COVID, but QR codes are a way of life. People have been trained to use their mobile device, any mobile device, iPhone, Android, to scan a QR code. And the QR code will take you to a website, which is a treasure trove of information.

And every customer, every prospect that we show this to, gets very excited because they want to have a relationship with their end customers. And in many cases, in supply chain distribution, you may be one or two steps removed from that end purchaser. And now you can communicate directly with them. So over the next six months, we’re going to continue to build our team. We’re going to continue to improve on our dashboards, make it more consumer friendly, and we’re going to grow our customer base globally.

You don’t need to dig into this much to really understand. It is a trillion-dollar opportunity. I mean, there is enormous waste and fraud, and all of these things are controlled when you know exactly what it is. So blockchain really timestamps everything. You know date and time of where it was, smart contracts. Everything is captured. And so all of the mystery goes out of the supply chain. It’s fantastic.

– Yeah, and significantly, I know that you all are hitting the ground running right as we speak.

– Yeah, it’s millions of dollars of revenue in the pipeline and well beyond that in ROI and savings for our clients.

– Yeah, such a fantastic opportunity, and again newly trading. So continued success to you. Best of luck. Jim Greenwell, the president of Spotlite360 joining us now. I’m excited to have you on the show again. As further news goes out, we can talk to the investment community.

– Terrific. Well, thank you very much.

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