Active Health Foods, Inc. (OTC: AHFD) expected acquisition of CoinChamp, Inc.
On October 13, 2021, Active Health Foods (AHFD) announced its planned acquisition of CoinChamp, a prediction platform for various events, including crypto markets and sports. CoinChamp offers distinctive live prediction rounds and picks contests, aimed at enhancing user engagement and monetization through in-app purchases. CEO Glen Bonilla expressed optimism about the acquisition, highlighting its potential to increase shareholder value and generate growth opportunities. The company is also seeking licenses to facilitate crypto transactions directly on the platform.
- Acquisition of CoinChamp expected to enhance shareholder value.
- Opens doors to new growth opportunities in the prediction market.
- Unique market offering not available on other platforms.
- None.
LOS ANGELES, Oct. 13, 2021 /PRNewswire/ -- CoinChamp is a platform for predictions on current events and markets. Ranging from predicting the Crypto Market, Weather, Stock Market, Live Sporting events and endless other outcomes. These predictions are made in two ways, Live Rounds and Picks Contests.
1. Live Rounds: During live real-world events by answering binary (Yes/No) questions in real-time during "Rounds". The "Rounds" are free to participate in and each comes with the potential of a payout if each of your live predictions is correct. You remain active in the "Round" until you predict incorrectly, at which point you can use a "Coin", or life, to stay in the "Round". "Coins" are obtained as an in-app purchase of
2. Picks: For upcoming real-world events by answering binary (Yes/No) questions before the event taking place during "Picks". These "Picks" are also free to participate in and come with the potential of a payout if you predict each question correctly. You make your "Picks" before the event takes place and can use your "Coin" to erase up to three questions, increasing your chances of predicting the whole round correctly. Before the real-world event happening live, any active user participating in "Picks" can communicate through chat with other users from around the world, thus creating an environment of community and encouraging a little friendly competition.
CoinChamp offers unique markets to predict on which other platforms don't offer. We are opening up the world of predictions to individuals with all different backgrounds allowing users to not only utilize their knowledge to make predictions but to also challenge other users to earn money for being correct.
CoinChamp is looking to gain licenses which will allow it to purchase crypto directly on the platform, allowing users the ability to use crypto on the app for contests and investments. Education, Ease of Access, and security are a main focus for CoinChamp's vision. CoinChamp is looking to gamify crypto to attract and educate the new generation of tech lovers and enthusiasts.
AHFD is in the final stages of preparing the definitive merger documents and due diligence pertaining to the proposed acquisition.
Regarding the expected transaction, CEO Glen Bonilla stated, "we are excited with the prospect of putting this developed app and operational business in Active Health Foods. We feel that this acquisition will enhance shareholder value and open the door to several potential growth opportunities."
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SOURCE CoinChamp, Inc.
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