Leet Technology Inc., f/k/a Blow & Drive Interlock Corporation, Issues Letter to Shareholders
Leet Technology Inc. (OTC: LTES) has updated shareholders about its focus on eSports following its recent name change from Blow & Drive Interlock Corporation. The company has divested unrelated business operations and is now entirely dedicated to the eSports sector, particularly through its Matchroom.net platform. Leet plans to improve transparency by timely filing financial reports and aims to up-list to OTCQB or Nasdaq. With strong growth potential in Southeast Asia, Leet is set to expand into new markets, capitalizing on increased interest in competitive gaming.
- Focus solely on eSports and gaming sectors after divesting unrelated operations.
- Timely filing of financial reports shows commitment to transparency.
- Plans for up-listing to OTCQB or Nasdaq indicate growth aspirations.
- Strong market presence with over 1,000 hosted tournaments and significant participant engagement.
- Expansion plans into Vietnam and other markets in South Asia, Middle East, and Africa.
- None.
SELANGOR, MALAYSIA, Aug. 31, 2021 (GLOBE NEWSWIRE) -- Leet Technology Inc. (OTC: LTES), f/k/a Blow & Drive Interlock Corporation (OTC: BDIC), today issued the following letter to its shareholders.
Dear Leet Technology Inc. Shareholders:
Thank you all for your patience and support during the past several quarters. As many of you know, Leet Technology, an eSports and competitive gaming aggregator with a community and mass market focus through its flagship product Matchroom.net and municipal end users, merged its eSports and gaming business with a publicly traded United States entity in late 2020, Blow & Drive Interlock Corporation (OTC: BDIC).
Leet Technology proceeded to divest itself of Blow & Drive’s business operations so that the Company is now purely focused on the eSports and gaming sectors and the exciting opportunities within these arenas. This divestiture of business lines that are not associated with or complimentary to our eSports business will allow us to focus our energy and efforts on growing these core business lines.
To better reflect Leet Technology’s current business focus, the Company applied for a FINRA ticker symbol and name change- from Blow & Drive Interlock Corporation to Leet Technology Inc.- and received a new trading symbol (OTC: LTES). These changes which were effective on Monday, August 23, 2021. Leet Technology has also been filing its 10-Qs and 10-K financial reports with the U.S. Securities & Exchange Commission in a timely manner and expects to apply to up-list its shares to the OTCQB or Nasdaq in the coming quarters, assuming the Company meets the trading or listing requirements.
Established in May 2017, Leet Technology Inc. is a technology company which focuses on white label solutions to ICT and OTT companies and owns an end-to-end eSports platform called Matchroom.net (launched in Jan 2019) which aims to cover a wide range of gaming and digital entertainment services, including tournaments and related marketing, catering to the Asia Pacific communities. It is an enabler of eSports and Casual Competitive Gaming which penetrates the Mobile gaming community through Telcos and OTT players. Matchroom.net offers Matchroom eSports, an esports platform that engages & converts competitive gamers through mainstream games in the market, and Matchroom Arcade, which is a casual gaming platform where users play and compete in casual skill-based games to meet challenges and win daily prizes.
Through its technology, Leet offers white label solutions to its telecom and OTT operator customers by looking after the modularity, design, and scalability of the product. Furthermore, Matchroom.net takes into consideration the marketing aspect and provides sponsorship solutions such as tournament/event organizer and brand sponsorship opportunities for a wide array of global clients. Specifically, Leet Technology has built an end-to-end gaming ecosystem for game developers that allows competitive tournaments to be hosted on Leet’s platform.
In addition, Leet has partnered with multiple telecommunications providers in Southeast Asia who use Leet's technology to host "white-label" gaming tournaments on their own platforms. Leet’s platform went live in 2019 and has thus far hosted more than 1,000 online tournaments for a wide range of popular games on mobile, console, and PC platforms. The company has hosted events with up to 15,000 participants in a single event.
eSports is a fast-growing industry in Southeast Asia. Leet Technology is benefiting from increased interest in competitive gaming, as technology has enabled the simultaneous participation of players in different locations, and live streaming has expanded the gaming audience. Leet’s current coverage area includes Southeast Asia, namely Malaysia, the Philippines, Indonesia, Thailand, Singapore, Cambodia, and India. In 2022-2023, it plans to expand into Vietnam, as well as into other markets in South Asia, the Middle East, and Africa.
In closing, we would like to thank all of our shareholders for their loyalty, patience, and continued support of Leet Technology Inc. We greatly appreciate the confidence you place in Leet’s business model, management, and operations. As we continue our progress, we believe Leet Technology will be able to rapidly monetize and capitalize on the momentum and growth opportunities in the Southeast Asia eSports marketplace and create increased value for its shareholders.
Sincerely,
Mr. Dai Song, Co-Founder & Chairman, Leet Technology Inc.
Mr. Keith Long, Co-Founder & CEO, Leet Technology Inc.
About Leet Technology Inc.
Leet Technology Inc. is an eSports and competitive gaming aggregator with a community and mass market focus through its flagship product Matchroom and municipal end users. The Company’s mission is delivering an end-to-end eSports & gaming ecosystem that enables registered users to play from anywhere at any time. It emphasizes catering to the general mass market over the niche professionals where the majority of market share and spending power is. Leet Technology Inc. leverages partnerships with telecoms and OTT operators with cost efficient solutions that can enhance their bottom lines. Please visit the Company’s product website at https://matchroom.net/ and its corporate website at https://myleet.com/.
Cautionary Statement Regarding Forward-Looking Information:
This news release includes certain "forward-looking statements" under applicable U.S. securities legislation. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking statements. Such factors include, but are not limited to: general business, economic, competitive, political and social uncertainties; delay or failure to receive board, shareholder or regulatory approvals, where applicable and the state of the capital markets. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.
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