US Energy Initiatives Deposits Digital Assets for Sale and Moves Into the Metaverse

Rhea-AI Summary

US Energy Initiatives Corp (USEI) has announced the transfer of $10 million in digital assets to BMCS SUMCOIN INDEX FUND to generate capital for its 2022 Business Plan. The plan focuses on green energy mining and exploring opportunities in the Metaverse sector. CEO Anthony K. Miller emphasized that these funds will support a significant mining operation powered by green energy and noted the potential for impressive revenue from these initiatives. Management is optimistic about the future of USEI and will continue to leverage its digital assets for growth.

Positive

• Transfer of $10 million in digital assets may enhance capital for the 2022 business plan.
• Focus on green energy mining aligns with current market trends towards sustainability.
• Exploration into the Metaverse sector could diversify revenue streams and position the company advantageously in an emerging market.

Negative

• None.

WOODLAND HILLS, CA, Dec. 23, 2021 (GLOBE NEWSWIRE) -- via NewMediaWire -- US Energy Initiatives Corp, Inc. (OTC PINK:USEI) announces that the Company has transferred $10 million of its digital assets to BMCS SUMCOIN INDEX FUND dba Bio Tech Medics, Inc. (stock symbol BMCS-OTC)  to be sold at “market value’ to generate capital to execute its 2022 Business Plan that includes “green energy mining” and the entrance into the Metaverse sector.

According to Anthony K. Miller, CEO, "Today we announce that the Company has done what it reported in its December 14, 2021 press release, transferring $10 million dollars of its digital asset into position to be sold. Management hopes that the currency should be sold in the first few months of 2022. The BMCS business plan is designed to provide worldwide holders with an exit strategy for their Sumcoin that will turn their digital currency into US dollars, and receive the fair market value for their assets. When the capital is available, Management will initiate a significant mining operation that encompasses green energy as the source of power. Management has done significant research on this operation and believes that the revenue projections will be outstanding.

“Additionally, Management has been investigating opportunities for the Company in the Metaverse. What is the Metaverse? It's a combination of multiple elements of technology, including virtual reality, augmented reality and video where users ‘live’ within a digital universe; it also may contain elements or be integrated along with the blockchain technology. Supporters of the Metaverse envision its users working, playing and staying connected with friends through everything from concerts and conferences to virtual trips around to the world. Three years ago folks thought we were crazy for getting into crypto currency and look at us now… recently, we have be dabbling in the NFT space which could be tremendously lucrative, so call us crazy or innovative, either one works. Management believes that everything we have researched tells us that the Metaverse is a great direction for USEI. In the coming weeks we will purchase property and move headlong into this space. This is a long play, the industry is years away but the time is right now for us to get in ahead of the gold rush. Microsoft and Facebook (Meta) are bullish on the Metaverse sector and have invested millions of dollars in the space so we are in good company.

“It is our goal that USEI has a very lucrative 2022 and we will continue to transfer Sumcoin on consignment, over the year, as the BMCS venture continues to provide us with cash to grow this firm. We are excited about the future beyond 2022… our digital assets are the life blood of this firm,” stated Miller.

ABOUT USEI: US Energy Initiatives Corp is a publicly traded company traded under the symbol USEI on OTC Markets, and the company focuses on many potential opportunities, and will leverage its assets to build a robust public company. These marketplaces are all emerging growth industries, and the company will utilize its significant assets and tools to grow the firm for its incredible future.

ABOUT BMCS: BMCS Sumcoin Index Fund Inc., formerly BioTech Medics, Inc., has a Delaware Statutory Trust that holds Sumcoin (SUM) on behalf of its shareholders. The investment objective of the Trust company is for the shares to reflect the value of the Sumcoins held by the Trust, determined by reference to the Sumcoin Index Price, less the Trust’s expenses and other liabilities (NAV). Sumcoin is a cryptographic blockchain that uses a scrypt proof-of-work algorithm to determine its value (that changes every 20 minutes). Our firm offers a business model that is patterned after others in this same digital asset space. People seeking to invest in crypto can invest in our stock and get the benefits of the appreciating value of the Company’s stock that is designed to appreciate faster than the currency.

Forward-Looking Statements: This press release contains "forward-looking statements" within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical fact, including those with respect to the expected projects of US Energy Initiative Corp. and related companies. All statements that are included in this Press release, other than statements of historical fact, are forward-looking statements. Forward-looking statements involve known and unknown risks, assumptions, uncertainties, and other factors. Statements made in the future tense, and statements using-words-such as "may, "can," "could," "should," "predict," "aim'" "potential," "continue," "opportunity," "intend " "goal," "estimate," "expect," "expectations," "project," "projections," "plans," "anticipates," "believe," "think," "confident" "scheduled" or similar expressions are intended to identify forward-looking statements. Forward-looking statements are not a guarantee of performance and are subject to a number of risks and uncertainties, many of which are difficult to predict and are beyond our control.

These risks and uncertainties could cause actual results to differ materially from those expressed in or implied by the forward-looking statements, and therefore should be carefully considered. You should consider the areas of risk described in connection with any forward-looking statements that may be made herein. We caution you not to place undue reliance on the forward-looking statements, which speak only as of the date of this report and readers should carefully review this report in its entirety. We disclaim any obligation to update any of these forward-looking statements as a result of new information, future events, or otherwise, except as expressly required by law. Further information on our risk factors is contained in our filings with the OTC Markets and the SEC website. Any forward-looking statement made by us herein speaks only as of the date on which it is made. Factors or events that could cause our actual results to differ may emerge from time to time, and it is not possible for us to predict all of them. We undertake no obligation to publicly update any forward-looking statement, whether as a result of new information, future developments or otherwise, except as may be required by law.

CONTACT INFORMATION

INVESTOR RELATIONS
STOCK SYMBOL: (USEI-OTC)
EMAIL: info@usenergyinitiatives.com
WEBSITE: www.usenergyinitiatives.com
TWITTER: @USEnergyinit
PHONE: 661.537.4822
LOCATION: WOODLAND HILLS, CA.
SOURCE: US Energy Initiatives Corp, Inc.

FAQ

What is US Energy Initiatives Corp's 2022 Business Plan?

US Energy Initiatives Corp's 2022 Business Plan focuses on green energy mining and entering the Metaverse sector.

How much digital assets has USEI transferred?

USEI has transferred $10 million of its digital assets to BMCS SUMCOIN INDEX FUND.

What does the Metaverse mean for US Energy Initiatives Corp?

The Metaverse represents a new business opportunity for USEI, potentially leading to significant revenue generation as the technology evolves.

When does USEI plan to sell the transferred digital assets?

Management hopes to sell the transferred digital assets in the first few months of 2022.

What stock symbol is associated with US Energy Initiatives Corp?

The stock symbol for US Energy Initiatives Corp is USEI.