IDVV plans to acquire AI company and enter the smart device arena.
LOS ANGELES, CA / ACCESSWIRE / June 9, 2023 / International Endeavors Corporation "IEC" (OTC PINK:IDVV) announced that it has entered into an LOI to Acquire Scribs Ventures, a private entity holding artificial intelligence technology. This acquisition will add revenues and expand IDVV's presence in the artificial intelligence (AI) sector.
Scribs currently has operations in Southern California and Florida. It has developed several AI based technologies utilizing speech recognition and text generation. These technologies are currently being used by Scribs to generate revenue with existing clients.
Jeremy Smith of IDVV stated "We see a way of incorporating these technologies into our existing products to increase our capabilities. This will also enable us to enter the smart phone / smart device segment of AI or artificial intelligence. We plan on staying ahead of the industry, and this will enable us to begin working with devices such as iPhone, Android, Amazon Alexa, Apple Siri, etc. We will be clarifying the uses in several updates over the next couple weeks, and are launching a website dedicated to our AI developments by July 1st."
Terms of the agreement call for the following:
- Closing date of on or before September 1st 2023
- Review of technology and potential patents by IDVV Counsel
- Restructuring "Elimination" of corporate debt.
- Zero debt will be issued for this transaction
IDVV Company Vice President Bill Martin stated "Utilizing a combination of the approximately $600,000 in revenues that have come in since the acquisition and issuing RESTRICTED equity we will be able to secure this acquisition and reduce our corporate debt."
Restructuring Corporate Debts Clarification
We have been working with holders of corporate debt and have successfully reached an agreement to settle our debts with a combination of cash, and stock that is restricted and/or issued with up to 2 year lock up agreements.
We believe these steps will increase shareholder value and bring us closer to being able to up list to OTCQB. Please feel free to email and questions.
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About Us
International Endeavors Corporation ("IEC") is a technology holdings company focused on Clean Energy, Crypto and A.I.
Specializing in solar technology, battery storage, as well as clean energy crypto mining options for both on & off grid.
We're currently implementing EV2G / Bi-directional charging options, thus allowing you to use your electric vehicle as a means of a backup battery, or to sell power back to the grid.
In 2022 IDVV started to offer its clients a Clean Energy Crypto mining solution. Our Plug-n-Play mining rigs can be installed in existing or current systems and allows the option to sell power back to the grid or mine crypto currency with any power surplus.
In 2023 We acquired WITech as part of an expansion into the AI Sector. We are incorporating AI technology into our crypto offerings, and developing a platform for AI Content Marketing.
The Company currently is reporting its financial information on OTCMarkets.
Our filings can be seen at https://www.otcmarkets.com
Disclaimer
Forward-Looking Statements are included within the meaning of Section 27A of the Securities Act of 1933, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements regarding our expected future financial position, results of operations, cash flows, financing plans, business strategy, products and services, competitive positions, growth opportunities, plans and objectives of management for future operations, including words such as "anticipate," "if," "believe," "plan," "estimate," "expect," "intend," "may," "could," "should," "will," and other similar expressions are forward-looking statements and involve risks, uncertainties and contingencies, many of which are beyond our control, which may cause actual results, performance, or achievements to differ materially from anticipated results, performance, or achievements. International Endeavors Corporation (IDVV) is under no obligation to (and expressly disclaim any such obligation to) update or alter our forward-looking statements, whether as a result of new information, future events, or otherwise.
Contact:
Bill Martin, Vice President
Phone: 1-619-343-3199
Email: billmartin@idvvcorp.com
SOURCE: International Endeavors Corporation, Inc.
View source version on accesswire.com:
https://www.accesswire.com/760291/IDVV-Enters-LOI-to-Acquire-Artificial-Intelligence-AI-Sector-Technology-Company
