Board of Directors Authorizes Business Model Pivot

Between August 2020 and April 2023, EllansaLabs Inc. generated $1.3 million in jewelry manufacturing sales, well below management expectations.\r\n\r\nThe EllansaLabs management team proposed a significant business model pivot away from jewelry manufacturing and towards using its Qrystal NFT blockchain diamonds as product authentication asset tags.\r\n\r\nThe BoD approves the pivot and sets October 1st as the deadline for winding down jewelry manufacturing operations and relaunching the company as a product authentication company.