AppSwarm Appoints AI Venturetech as Strategic Advisor to TulsaLabs

Rhea-AI Summary

AppSwarm, Corp. (OTC: SWRM) has appointed AI VentureTech, Inc. as the head strategic advisor for its technology initiative, TulsaLabs. This collaboration aims to enhance management dynamics while steering focus on project management in areas like data consulting and blockchain development. The company intends to secure funding through alternative channels, such as grants and loans, minimizing reliance on equity markets. CEO Thomas Bustamante emphasized the need for a dynamic team to ensure efficient operations and strengthen communication regarding project developments.

Positive

• Appointment of AI VentureTech as head strategic advisor expected to enhance management dynamics.
• Exploration of alternative funding sources, reducing reliance on equity markets.

Negative

• Need for a review to stabilize share issuance raises concerns about current financial stability.

Tulsa, OK, Aug. 16, 2021 (GLOBE NEWSWIRE) -- via NewMediaWire -- AppSwarm, Corp. (OTC: SWRM), a software development company and aggregator of mobile applications, announces the appointment of AI VentureTech, Inc. as head strategic advisor for TulsaLabs.

The Company announced the appointment of AI VentureTech as head strategic advisor for TulsaLabs and to help advise on building out a more dynamic management team behind the next-generation technology project. https://aiventuretech.com/

This new team will appoint project managers to oversee key areas of commercial research in the areas of data consulting, blockchain development, and space applications.

AppSwarm will also explore alternative funding, such as federal and state economic development zone grants or low-interest loans, to fund the initial build-out of the Tulsa based technology lab to avoid needing to access equity capital markets.

Thomas Bustamante, the Founder and CEO of AI Venturetech, Inc., commented, "We are very excited to head the strategic vision behind TulsaLabs and want to waste no time in beginning to implement the changes needed to build this project out. The immediate goal will be to appoint a younger and more dynamic executive team who will have oversight on project managers and oversee the development of a sales staff. AI will also advise the company on conducting an immediate review to stabilize share issuance, increase cost-efficiency, and seek alternative funding opportunities away from traditional equity or debt capital to begin preserving shareholder value wherever we can. Finally, to establish a more consistent communication program to provide updates on both material and non-material events developing around the labs progress.”

Institutional investment firms interested in partnering with our space research project please reach out to us at https://tulsalabs.io/investors/

About APPSWARM

AppSwarm is a technology company specializing in accelerated development and publishing of mobile apps and other software platforms for gaming and business applications and seeks to acquire symmetric business opportunities. AppSwarm partners with and assists other development firms in technology development, business management, and funding needs.

For more information, visit us at www.app-swarm.com or follow us on www.facebook.com/AppSwarm Twitter https://twitter.com/AppSwarm or Instagram https://www.instagram.com/appswarm/  

“LEGAL DISCLAIMER”

AppSwarm, and its affiliate labs are strictly research firms focused on the development of blockchain applications, and in no way is involved with the buying, selling, or the issuance of any cryptocurrencies, or investment advice.

Forward-Looking Statements:

"Safe Harbor" statement under the Private Securities Litigation Reform Act of 1995: This press release may contain forward-looking statements that are subject to risk and uncertainties including, but not limited to, the impact of competitive products, product demand, market acceptance risks, fluctuations in operating results, political risk, and other risks detailed from time to time in the Company's filings with OTCMarkets.com and as required to the Securities and Exchange Commission. These risks could cause SWRM's actual results to differ materially from those expressed in any forward-looking statements made by, or on behalf of, the Company.

Investor and Media Contacts:

AppSwarm, Corp.
888-886-8583
info@app-swarm.com

AI Venturetech
212-206-0984
info@aiventuretech.com

FAQ

What is the significance of AI VentureTech's appointment for AppSwarm (SWRM)?

AI VentureTech's appointment is significant as it aims to improve management dynamics and guide the development of the TulsaLabs project.

How does AppSwarm (SWRM) plan to fund TulsaLabs?

AppSwarm plans to seek alternative funding sources, including federal and state grants and low-interest loans, to finance the initial build-out of TulsaLabs.

What are the expected changes in the management team at AppSwarm (SWRM)?

The company aims to appoint a younger and more dynamic executive team to oversee project management and sales development.

What risks does AppSwarm (SWRM) face according to the press release?

The press release mentions a need to stabilize share issuance, which indicates potential concerns regarding the company's financial stability.