Pascal currently has a multi-billion dollar company as a major client. In addition, it is in discussions with and expects to secure another large international company as a client in the near future.
Under the terms of the agreement, UA has the rights to acquire 30% of Pascal Common shares with 15% priced at early stage valuation and 15% priced at the current valuation.
The Company plans to finance the acquisition via two year convertible notes. It has received a verbal commitment for a partial amount and expects to secure the total amount in the next few months.
Pending favorable outcomes,
Due to the recent downturn in the crypto sector, the Company has put further development of its own products on hold. It will continue to offer development of blockchain and digital asset applications as a service. In addition, the Company will leverage Pascal’s expertise to provide AI and software technical services.
“Recent introduction of ChatGPT by OpenAI and Stable Diffusion by Stability AI has revealed the huge potential of artificial intelligence and how it could disrupt the way people live and work in the near future,” commented Michael Lajtay, CEO of
This release contains forward-looking statements within the meaning of Section 27a of the Securities Act of 1933, as amended and section 21e of the Securities and Exchange Act of 1934, as amended. Those statements include the intent, belief or current expectations of the Company and its management team. Some or all of the events or results anticipated by these forward-looking statements may not occur. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and that actual results may differ materially from those projected in the forward-looking statements as a result of various factors. Accomplishing the strategy described herein is significantly dependent upon numerous factors, many that are not in management’s control.
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