Phoenix Rising Companies Announces MOU To Acquire Morpheus Robotics a Developer of Medical Aritificial Intelligence and Devices

Rhea-AI Summary

Phoenix Rising Companies has announced a Memorandum of Understanding (MOU) to acquire all outstanding shares of Morpheus Robotics, a Singapore-based company specializing in advanced medical technologies, including AI-driven robotics and imaging systems. The transaction involves issuing 100 million restricted shares and obtaining $8 million for financing. This acquisition aims to enhance Phoenix's growth potential and market presence in the medical sector. The deal is contingent upon various conditions, including board approvals and final contract negotiations.

Positive

• Acquisition of Morpheus Robotics enhances Phoenix's growth potential in the medical technology sector.
• Morpheus' innovative technologies, including AI and robotic imaging, may lead to new revenue streams.
• The completion of the acquisition is expected to strengthen Phoenix's market presence.

Negative

• Issuing 100 million restricted shares could lead to shareholder dilution.
• The acquisition is contingent on several conditions, creating uncertainty regarding completion.

PARK CITY, UT / ACCESSWIRE / May 26, 2022 / Phoenix Rising Companies OTCQB:PRCX

DS Chang, CEO and Chairman of the company is pleased to announce the completion of an MOU to acquire all the outstanding shares of Morpheus Robotics, Inc. (FKA Wimobilize Singapore Pte Ltd) a Singapore Corporation. Morpheus was originated and has continuing operations in Italy.

For the past several years, under the direction of Massimo Strada and Stephen Lee, Morpheus has been developing a variety of interrelated medical technologies including:

1. Extreme Performance Artificial Intelligence Technology Appliance
2. New Medical High-Performance Materials Applications
3. Medical 6-9 Axis Movements Robotics

(Neural, Orthopedics, Dental and etc.)

1. Photonic Mixed Reality
2. Robotic Ultra-Low Radiation Imaging

Morpheus Medical Robotic System is the result of an unprecedented combination of Artificial Intelligence Based Software, new generation medical imaging, holographic reality, robotic applications, pervasive sensors natively integrated, delivering a new and unique minimally invasive robotic surgery ecosystem.

One of the Morpheus inventions provides intra-operative robotic imaging to gather new critical information arising during an operation. This machine takes a fast, high-quality image while reducing radiation 98% vs other methods.

The field of application is wide as the system resolves some of the most common and critical surgical problems including surgery planning adjustment during an operation, highly accurate total cancer removal, and verification of the patient's condition during the operation with an unprecedented detail level.

The Morpheus Super-Calculus GPU Based Appliance is a parallel vectorial supercomputing machine able to process 40 trillion operations per second guaranteeing a fluid ultra-high definition 4X4K, ultra-fast artificial intelligence segmentation, real-time Holographic mixed reality modeling, real-time visual guidance self-alignment.

Morpheus started with and continues to use a primary engineering team in Milan, Italy.

DS Chang, CEO of Phoenix said "This acquisition, if completed, represents a move towards Westernizing Phoenix with new acquisitions that offer a substantial possibility of incredible growth of the company and its stake holders"

Massimo Strada, CEO of Morpheus is credited with being the inventor of Morpheus A.I. IoT technical platform which CISCO hailed as having the unique technical leadership of the segment.

The MOU includes the terms and conditions to be met in order to complete the acquisition including: the issuance of 100,000,000 common restricted shares of Phoenix to the sellers of Morpheus shares, the preparation and acceptance of a final acquisition contract, final approval from the respective Boards of Directors, the arrangements for suitable capital financing for Morpheus in the anticipated amount of $8,000,000 and other conditions which either exist now or will arise during the final negotiations.

In addition to this MOU, Phoenix continues to press forward towards other projects and more with an eye towards developing Western hemisphere subsidiaries and divisions which hold the promise of growth, sustainability, and profitability.

Additional information will be announced as it becomes available.

For information on Phoenix Rising Companies visit www.phoenix-cos.com

contact ir@phoenix-cos.com

CAUTIONARY STATEMENT

This press release contains forward-looking statements. Known and unknown risks may cause actual future results to vary widely. The statements are based upon Management's and Advisor's current expectations, estimates and projections; are not guarantees of future performance and are subject to certain risks and uncertainties and other factors, some of which are beyond Management's control and are difficult to predict. A reader of this press release should not place undue reliance on forward-looking statements. Investors should understand investing in shares of PRCX involves a high degree of risk and should seek competent investment advice prior to purchasing shares.

SOURCE: Phoenix Rising Companies

View source version on accesswire.com:
https://www.accesswire.com/702693/Phoenix-Rising-Companies-Announces-MOU-To-Acquire-Morpheus-Robotics-a-Developer-of-Medical-Aritificial-Intelligence-and-Devices

FAQ

What is the purpose of Phoenix Rising's acquisition of Morpheus Robotics?

The acquisition aims to enhance Phoenix's growth potential in the medical technology sector through innovative robotics and AI solutions.

What are the financial terms of the Morpheus Robotics acquisition by Phoenix Rising?

Phoenix will issue 100 million restricted shares and arrange for $8 million in financing for the acquisition.

When will the acquisition of Morpheus Robotics by Phoenix Rising be finalized?

The acquisition is subject to board approvals and final negotiations, with no specific date announced.

How could the Morpheus Robotics acquisition impact shareholders of Phoenix Rising?

While the acquisition may enhance growth, it also involves issuing a significant number of new shares, potentially causing shareholder dilution.

What technologies does Morpheus Robotics bring to Phoenix Rising?

Morpheus Robotics specializes in AI-driven robotics, advanced imaging, and minimally invasive surgical technologies.