Image Protect Announces Memorandum of Understanding for Pending New Business Acquisition

Rhea-AI Summary

Image Protect, Inc. (OTC:IMTL) has completed due diligence and reached a Memorandum of Understanding for a pending new business acquisition. The company expects to finalize the terms within the next seven business days. The acquisition is of an established B2B application software product provider with additional services in development. Image Protect, Inc. aims to maximize market penetration and compete with existing brands in its space. CEO James Ballas believes this acquisition will be a game-changer.

Positive

• Image Protect, Inc. has completed due diligence and reached a Memorandum of Understanding for a pending new business acquisition.
• The acquisition is of an established B2B application software product provider with additional services in development.
• The company aims to maximize market penetration and compete with existing brands in its space.

Negative

• None.

NEW YORK, NY, Oct. 02, 2023 (GLOBE NEWSWIRE) -- via NewMediaWire -- Image Protect, Inc. (OTC:IMTL) (Imageprotect.com) (“Image Protect” or the “Company”), is pleased to announce that it has completed its Due Diligence and reached a Memorandum of Understanding on its pending new business acquisition first mentioned on Tuesday, September 26th. The process is now moving toward an LOI (Letter of Intent) with expectations of having all terms agreed upon within the next seven business days.

The company that Image Protect, Inc. (OTC: IMTL) is seeking to acquire is an established business-to-business application software product provider with a successful core offering with development for additional services already underway.

Image Protect, Inc. expects to provide the necessary support for this newly acquired subsidiary and ensure the availability of needed resources to maximize market penetration and compete with and dominate other existing brands in its space. The company looks forward to competing at a high level and fostering the acquisition of thousands of additional potential clients in its market.

CEO James Ballas states: “We are super excited to be in the position to make this new acquisition announcement within days, and we firmly believe this will be a game-changer in the industry. Getting to this position has taken well over a year, and we are looking forward to this acquisition and announcement that we believe is the perfect fit for Image Protect, Inc.”

To learn more and stay abreast of Company developments please follow us at X (Twitter) @IMTLCorp

About Image Protect

Image Protect (IMTL) is a tech and media company with a focus on digital assets. The Company's unique digital asset library and proprietary technology was developed by company subsidiary Fotofy. The Company owns and operates www.legendNFTs.io which is an auction for NFTs of Hip Hop Artist and major Sports figures. The Company has been developing Tokentunz as a site for Music NFTs.

Safe Harbor Provision

Cautionary statement for purposes of the 'Safe Harbor' provisions of the Private Securities Litigation Reform Act of 1995: Information in this news release contains forward-looking statements that involve risks, uncertainties, and assumptions. If such risks or uncertainties materialize or such assumptions prove incorrect, the results of the Company and its consolidated subsidiaries could differ materially from those expressed or implied by such forward-looking statements and assumptions. All statements other than statements of historical fact are statements that could be deemed forward-looking statements. Risks, uncertainties, and assumptions include the execution and performance of contracts by the Company and its customers, suppliers and partners. The Company disclaims any obligation to update or revise statements contained in this news release based on new information or otherwise.

Investor Relations
IR@imageprotectcorporation.com

SOURCE: Image Protect, Inc.