Smartt, Inc. FKA Carsmartt, Inc. Acquires $47.6 Million Revenue Generating Asset Immobilfin S.P.A.

Rhea-AI Summary

Smartt Inc. (CRSM) has announced the acquisition of Immobilfin S.P.A., a real estate company valued at $47.6 million and generating approximately $1.5 million annually. The deal includes a commercial building in Naples, Italy, leased to the government. Smartt will issue 50 million restricted shares valued at roughly $1.5 million as part of the transaction. CEO Roy Capasso emphasized plans for growth in real estate and technology sectors globally. He indicated a commitment to leveraging investment networks to expand the company’s presence.

Positive

• Acquisition of Immobilfin S.P.A. valued at $47.6 million.
• Annual revenue of $1.5 million from the acquired property.
• Strategic growth plans in real estate across Europe, LATAM, and the U.S.
• Expansion into technology sectors, including fintech and crypto.

Negative

• The acquisition involves 50 million restricted shares, potentially leading to shareholder dilution.
• Performance-based payment structure raises uncertainty regarding future financial commitments.

Miami, FL, Aug. 06, 2021 (GLOBE NEWSWIRE) -- Smartt Inc., (OTC Pink: CRSM), is pleased to announce the acquisition of Immobilfin S.P.A., a Real Estate company with an asset value of $47.6 Million and generates approximately $1.5 Million per year in revenues. Mr. Roy Capasso, CEO of Smartt, Inc., commented “Smartt, Inc. has signed an agreement for the acquisition of 100% of the shares of Immobilfin S.P.A., Inc.  The company owns a commercial building in the center of Naples Italy in front of the Naples’s Harbour. The building is leased to the Italian government, who pays approximately $1.5 million a year. The property is approximately 100,000 square feet with 95 parking spaces. The transaction has closed on August 6, 2021.

The First deposit for the acquisition will be 50,000,000 restricted shares for two years that is equivalent to a value of approximately $1.5 Million. The balance due will be a determinate of the performance of share price during the next two years from future forecasted growth. Smartt, Inc. will have the option to pay in cash before the 2-year restriction has matured.

Mr. Capasso, CEO of Smartt, Inc. added “this is just the beginning for Smartt, Inc. to grow exponentially in the real estate market. We are planning to invest and dedicate more time and resources in closing on new real estate deals in Europe, LATAM and the United States. We are also working on several deals in the Technology Industry, the Fintech and Crypto sectors to be exact. " As we are now establishing a global presence, we believe this is the perfect time and opportunity to introduce our growing international network of investment professionals and investors to our exciting emerging company to the world. We look forward to continuing to grow in all sectors, with the goal of delivering value to our long-term investors.”

About Smartt, Inc.:

Smartt, Inc. is a Holding company with different subsidiaries in the fields of Technology (Fintech, Crypto, Blockchain, Software), Real Estate and Construction.

About Immobilfin S.P.A.:

Immobilfin it’s a real estate company with approximate assets of $47.6 Million and annual revenues of $1.5 Million. The physical office is located in Naples Italy.

CONTACT

Smartt, Inc.

2828 Coral Way

Miami, FL 33145

Website: http://www.smarttholdings.com

Phone: 786-409-7439

Email: info@carsmartt.com

FORWARD-LOOKING STATEMENT

Statements in this press release that are not historical fact may be deemed forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Although SMARTT, Inc. believes the expectations reflected in any forward-looking statements are based on reasonable assumptions, SMARTT, Inc. is unable to give any assurance that its expectations will be attained. Factors that could cause actual results to differ materially from expectations include the company's ability to meet the conditions necessary to, among other matters, obtain a public listing on a major national exchange.

Attachments

• $CRSM - Smartt Inc.
• $CRSM - Smartt Inc.
• $CRSM - Smartt Inc.

FAQ

What is the significance of Smartt Inc.'s acquisition of Immobilfin S.P.A.?

The acquisition enhances Smartt's asset base and annual revenue, establishing a foothold in the European real estate market.

How much is Immobilfin S.P.A. worth and what is its revenue?

Immobilfin S.P.A. is valued at $47.6 million, generating approximately $1.5 million in annual revenues.

What are Smartt Inc.'s future plans after acquiring Immobilfin S.P.A.?

Smartt plans to invest in real estate deals globally and expand into technology sectors, including fintech and crypto.

What are the potential impacts of the acquisition on Smartt Inc.'s stock?

The acquisition could lead to increased revenues and market presence for Smartt, but the issuance of restricted shares may dilute existing shareholder value.