Neon Bloom Changes Course With New Leadership and Divestment of Bazelet™

Rhea-AI Summary

Neon Bloom (OTC PINK: NBCO) announced a strategic shift from the HealthTech sector by divesting its subsidiary, Bazelet™ Health Systems. This move follows the acquisition of Advanced Executive Sales (AES), marking a new focus on the financial services sector. As part of this transition, the company adds Mr. Anthony Bianchi, Esq. as an Independent Director, replacing Ms. Frick. Mr. Greg Bauer is the new CEO, while Mr. Michael Elzufon joins the Bazelet™ Board after resigning from Neon Bloom's Board. Neon Bloom aims to capitalize on the digital transformation in e-Commerce and financial technology amidst the controversial cannabis-related businesses.

Positive

• Acquisition of Advanced Executive Sales , enhancing financial services focus.
• Appointment of experienced professionals, including Anthony Bianchi, Esq. and CEO Greg Bauer.
• Shift to digital financial technology, positioning for growth in e-Commerce and payment processing.

Negative

• Divestment of Bazelet™ Health Systems signals exit from HealthTech sector.
• Resignation of key board member, Mr. Michael Elzufon, potentially indicating internal changes or challenges.

Recent Acquisition Leads to New Management and Expanding Focus On Financial Services Sector

NEWPORT BEACH, Calif., July 09, 2024 (GLOBE NEWSWIRE) -- Neon Bloom, Inc. (OTC PINK: NBCO), announced today that it has divested itself of its subsidiary, Bazelet™ Health Systems Inc. in a shift in the Company’s direction away from the HealthTech sector following the acquisition of Advanced Executive Sales, LLC (AES).

Following the acquisition of AES, the Company added an additional Director, Mr. Anthony Bianchi Esq., who will replace Ms. Frick who resigned in 2023 and will be serving as an Independent Director. Mr. Bianchi is currently a practicing lawyer and will not be taking an active management position in the Company at this time; he will join Mr. Fred Luke and Mr. Greg Bauer, the Company’s new CEO, on the Company’s Board of Directors, while Mr. Michael Elzufon has resigned to join the Bazelet™ Board of Directors.

In describing the Company’s move into the financial services sector and away from the Bazelet™ HealthTech space, Mr. Luke, the Company’s Secretary and continuing Director, said, “The acquisition of Advanced Executive Sales together with the spinoff of Bazelet™, is a shift away from the continuing controversy related to cannabis-related businesses, and into the digital advancement and increased financial technology fueling e-Commerce, which is rapidly transforming the world in a digital evolution. And just like in the 1990s with the Internet, we believe those who adapt and adopt this new financial technology can capture a large part of new global financial and digital payment processing opportunity. In contrast, those who ignore this period of digital innovation may very well find themselves left behind.”

About Neon Bloom:

Neon Bloom, Inc. (OTC PINK: NBCO) is a diversified enterprise group currently developing new life-science technologies, technologically improved financial services, and other emerging businesses with potentially high growth and other cross-industry segment synergistic qualities. With the acquisition of Advanced Executive Sales LLC, the Company is expected to have 2024 annual revenues of over $25,000,000. The Company intends to shift its primary focus to the financial services sector and grow revenue and net asset value through organic growth and additional acquisitions utilizing shares of its common stock, non-convertible promissory performance-based notes, and cash as available.

About Advanced Executive Sales LLC:

AES is a rapidly growing, leading provider of e-commerce and point-of-sale transaction solutions, which enable it to provide secure interactions between merchants and customers for a wide range of industries.

With its payment processing platform, it is a certified partner with YNLO Ultratech and Payshield and has over 100 e-commerce sites currently under contract. It plans to expand by acquiring other financial service firms with payment processing technology that will complement what AES currently utilizes.

For the first quarter of 2024, AES posted gross revenue of $5,521,430 and a net profit of $395,408 and expects to generate gross revenue in excess of $10,000,000 for the second quarter ending June 30, 2024.

Forward-Looking Statements:

This press release includes "forward-looking statements" that involve risks and uncertainties. These statements are all other than statements of historical facts that address activities, events, or developments that we expect or anticipate will or may occur in the future, including the future. Capital expenditures (including the amount and nature thereof), business strategy and measures to implement strategy, competitive strength, goals, expansion and growth of our business and operations, plans, references to future success, reference to intentions as to future matters, and other such matters are forward-looking statements. In some cases, you can identify forward-looking statements by terminology such as "may," "will," "should," "expects," "plans," "anticipates," "believes," "estimates," "predicts," "potential," or "continue," or the negative of such terms or other comparable terminology. These statements are only predictions. Actual events or results may differ materially. These statements are based upon certain assumptions and analyses made by us considering our experience and our perception of historical trends, current conditions, expected future developments, and other factors that we believe are appropriate in the circumstances. However, whether actual results and developments will conform to our expectations and predictions is subject to several risks, uncertainties, and other factors, many of which are beyond our control. Although we believe the expectations reflected in the forward-looking statements are reasonable, we cannot guarantee future results, activity levels, performance, or achievements. Moreover, we do not assume responsibility for the accuracy and completeness of such forward-looking statements. We are under no duty to update any of the forward-looking statements after the date of this release to confirm such statements to actual results.

CONTACT: Shareholder Relations         
EMAIL: admin@advancedexecutivesales.com                 
WEBSITE: www.advancedexecutivesales.com           
TELEPHONE: 1 888-411-5350        

FAQ

What recent acquisition did Neon Bloom (NBCO) complete?

Neon Bloom recently acquired Advanced Executive Sales , shifting its focus to the financial services sector.

What major change did Neon Bloom make regarding Bazelet™ Health Systems?

Neon Bloom divested Bazelet™ Health Systems, moving away from the HealthTech sector.

Who is the new CEO of Neon Bloom (NBCO)?

Greg Bauer has been appointed as the new CEO of Neon Bloom.

What sector is Neon Bloom (NBCO) now focusing on?

Neon Bloom is now focusing on the financial services sector, particularly digital financial technology and e-Commerce.

What role will Anthony Bianchi, Esq. play at Neon Bloom?

Anthony Bianchi, Esq. will serve as an Independent Director on Neon Bloom's Board.