Telidyne Announces Acquisition of OutSquare MD, Inc.

Rhea-AI Summary

Telidyne, Inc. (OTC: TLDN) has successfully acquired OutSquare MD, Inc., a technology firm focused on virtual healthcare solutions. This acquisition involved the issuance of 6,480,000 shares, raising total shares to 12,180,265. The transaction is expected to enhance Telidyne's market position by integrating advanced software technologies. Key management changes include Faisal Mirza as CEO, Feroz Shaikh as CFO, and Paulson Ambookan as Company Secretary. The acquisition aims to leverage synergies in healthcare technology, though potential risks are associated with integration and market dynamics.

Positive

• Acquisition of OutSquare enhances Telidyne's product offerings in virtual healthcare.
• Strategic integration expected to drive growth in market share and revenue.
• New management team appointed to lead post-acquisition integration efforts.

Negative

• Issuance of 6,480,000 shares may lead to shareholder dilution.
• Integration challenges could impact financial performance in the near term.

Telidyne, Inc. (the “Company”) (OTC: TLDN) announced that it has completed the acquisition of OutSquare MD, Inc., (“Outsquare”). Outsquare is a technology company that provides software solutions to virtualize healthcare for patients and doctors. It is also developing several cutting edge softwares and technologies. Further information about Outsquare, now a wholly owned subsidiary of the Company can be obtained from its website at: https://www.outsquaremd.com

In connection with this acquisition, the Company issued 6,480,000 shares of common stock valued at $1.55 per share to the owners of Outsquare, which increased the Company’s total outstanding shares to 12,180,265 shares. After the acquisition, the Company changed its officers and directors. Faisal Mirza has been appointed the CEO and Director, Feroz Shaikh has been appointed the CFO and Director and Paulson Ambookan has been appointed the Company Secretary and Director.

Forward-looking Statements

This press release contains “forward-looking statements.” Forward-looking statements are not guarantees of future performance, are based on certain assumptions, and are subject to various known and unknown risks and uncertainties, many of which are beyond the Company’s control, and cannot be predicted or quantified. Consequently, actual results may differ materially from those expressed or implied by such forward-looking statements. The Company assumes no obligation to publicly update or revise its forward-looking statements as a result of new information, future events or otherwise.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210729006127/en/

FAQ

What was the acquisition value of OutSquare by Telidyne (TLDN)?

The acquisition involved the issuance of 6,480,000 shares valued at $1.55 each.

Who are the new executives at Telidyne after the acquisition of OutSquare?

Faisal Mirza is the new CEO, Feroz Shaikh is the CFO, and Paulson Ambookan is the Company Secretary.

How does the acquisition of OutSquare affect Telidyne's stock performance?

The acquisition may lead to short-term dilution due to increased shares but aims to enhance long-term growth.

What technologies is OutSquare known for in the healthcare field?

OutSquare specializes in software solutions for virtual healthcare, improving patient-doctor interactions.

What risks are associated with Telidyne's acquisition of OutSquare?

Risks include potential shareholder dilution and integration challenges that could affect financial performance.