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Tytan Cybernetics (OTC: NIHK) has reported its fourth consecutive profitable quarter, showcasing a significant financial turnaround. For Q2 2022, the company posted a net income of $0.97 million, a remarkable improvement from a loss of $296,070 in the same quarter last year. Year-to-date revenue soared by 144.18% year-over-year to $9.87 million, with net income from operations increasing by 1,330.66% to $1.57 million. The company attributes this success to financial and operational enhancements across its diversified business lines, focusing on electric vehicle technology, fintech, AI, and robotics.
Tytan Cybernetics (OTC: NIHK) has announced the formation of a wholly owned subsidiary, Tytan Metaverse, to capitalize on current Metaverse property opportunities. The subsidiary plans to acquire properties across platforms like Decentraland, Sandbox, Somnium Crytovoxels, and Upland. Starting December 22, 2021, dedicated staff will seek to acquire LAND blocks rapidly. Tytan aims to become a significant Metaverse landlord, focusing on generating income through rentals and long-term asset growth, while leveraging expertise from its successful real estate parent company.
Tytan Cybernetics (OTC: NIHK) announced its plan to conduct an S-1 registration for its Drive-Crypto-EV Token, resulting in a postponement of its token launch initially scheduled for December 10, 2021. The CEO, Frank I Igwealor, stated that the company has audited financials, making the S-1 process manageable. The Drive-Crypto-EV program aims to connect electric vehicle (EV) owners with a crypto wallet and provide rewards, similar to airline mileage programs. The first charge-stations across the U.S. are anticipated to be operational by mid-2022, starting in California.
Tytan Cybernetics (OTC: NIHK) has announced a significant buyback plan, with CEO Frank Igwealor acquiring 8,503,257 shares from the open market and intending to buy an additional 12 million shares. This initiative aims to alleviate shareholder dilution concerns and build long-term value. The company is also progressing with its Electric Vehicle division, collaborating with Lingstar Co. of China, and is set to launch the 'Drive Crypto EV' program by December 10, 2021, which rewards eco-friendly EV owners with cryptocurrency as they drive.
Tytan Cybernetics (OTC: NIHK) has announced the arrival of its first-generation Electric Vehicles (EVs) from a joint venture with Lingstar Co., ahead of the scheduled timeline. These vehicles are set for showroom display in California. CEO Frank Igwealor expressed enthusiasm over this milestone, highlighting the company's commitment to advancing Electric Vehicle technology and its dedication to developing innovative applications. Tytan Cybernetics aims to revolutionize the EV market with its cutting-edge technologies.
Tytan Cybernetics (OTC: NIHK) has partnered with CryptoFamily.Tech to develop the Tytan EV Crypto Coin, designed to reward drivers for mileage through automated crypto mining. Drivers can earn coins directly into their TytanEVCrypto App, with options to transfer to wallets or utilize within Tytan's ecosystem. CEO Frank Igwealor emphasizes this initiative as a pioneering effort in integrating electric vehicle technology with cryptocurrency, reflecting the company's commitment to innovation in the Electric Vehicle and Fintech sectors.
Tytan Cybernetics, trading as Video River Networks (OTC: NIHK), announces its development of the innovative 'Drive Crypto EV' Program. This program allows Electric Vehicle owners to generate cryptocurrency while driving. Each coin generated is deposited into a secure app connected to the owner's crypto wallet. The initiative aims to reward eco-friendly users with unique technological solutions, merging electric vehicle technology with cryptocurrency capabilities.
Tytan Cybernetics, formerly Video River Networks, has announced its rebranding to reflect its growth in the Electric Vehicle (EV) sector and innovative technologies. The name change emphasizes the company's commitment to advancing areas like EVs, drones, fintech, and cryptocurrencies. CEO Frank Igwealor stated this rebranding will position Tytan as a leader in emerging technologies. A shareholder conference call is scheduled for October 8th to discuss this transition further. Tytan Cybernetics aims to develop high-performance electric vehicles and integrate AI and robotics into its technology portfolio.
Video River Networks (OTC: NIHK) announces a live Conference Call series with shareholders, beginning on October 8, 2021, at 2 PM PST. The call will cover topics including updates on Electric Vehicle development, real-time delivery timelines, and an invitation to a shareholder unveiling event. Additionally, the CEO will address shareholder questions during the call. Video River Networks focuses on innovative Electric Vehicle and Battery technologies, with operations in North America and Asia.
Video River Networks (OTC: NIHK) announced the retention of the Law Office of Heskett & Heskett to assist in the name and ticker symbol process with FINRA. CEO Frank Igwealor expressed enthusiasm about the new name, highlighting its reflection of the company's growth and development as a technology firm. Video River Networks focuses on Electric Vehicles, Battery Technology, and AI, aiming to innovate in the tech sector with operations in North America and Asia. The company is committed to developing advanced technologies that enhance consumer experiences.
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