VAYK Discloses Strategic Conversation on Potential Acquisition of $4 Million Home Service Business

Rhea-AI Summary

Vaycaychella, Inc. (OTC Pink: VAYK) is considering acquiring 50% ownership of a home service business in a potential $4 million deal. The target business is expected to report $4 million in revenue for the period between July 2023 to June 2024. VAYK has not yet signed any agreements, but management is optimistic about entering into a non-binding LOI soon. The acquisition is part of VAYK's new strategy to focus on the domestic short-term rental market.

DALLAS, May 9, 2024 /PRNewswire/ -- Vaycaychella, Inc. (OTC Pink: VAYK) ("VAYK") today disclosed that the company had been engaging in a strategic discussion with a fast-growing home service company, which is based in Atlanta, Georgia, on a possible deal that VAYK would acquire 50% non-managerial ownership of the home service business. The potential acquisition target is expected to report approximately $4 million revenue for the 12 months between July 2023 to June 2024, with a solid margin of operating profit.

VAYK has not entered into any binding or non-binding agreements with the target business.  The management of VAYK, however, are optimistic that the two parties will enter into a non-binding LOI in the next few days.

Management said that it was premature to disclose more details, but believed that it would be a non-cash acquisition deal, which means that VAYK will issue shares to acquire the target business. Management also asserted their belief that any shares issued to acquire the target business should NOT be priced at lower than $0.01 per share, when converted to common shares.

This acquisition will be part of VAYK's new strategy to focus on domestic short-term rental (Airbnb) market. Home service business and Airbnb operation, according to VAYK's management, are synergistic and will likely help each other to grow.

Disclaimer/Safe Harbor: This news release contains forward-looking statements within the meaning of the Securities Litigation Reform Act. The statements reflect the Company's current views with respect to future events that involve risks and uncertainties. Among others, these risks include the expectation that any of the companies mentioned herein will achieve significant sales, the failure to meet schedule or performance requirements of the companies' contracts, the companies' liquidity position, the companies' ability to obtain new contracts, the emergence of competitors with greater financial resources and the impact of competitive pricing. In the light of these uncertainties, the forward-looking events referred to in this release might not occur.

VAYK Contact:
Contact@Vaycaychella.com
+1 972-658-5365 

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SOURCE Vaycaychella, Inc.

FAQ

What is VAYK considering acquiring?

VAYK is considering acquiring 50% non-managerial ownership of a home service business.

What is the expected revenue of the potential acquisition target?

The potential acquisition target is expected to report approximately $4 million in revenue for the 12 months between July 2023 to June 2024.

What type of deal is the potential acquisition expected to be?

The potential acquisition is expected to be a non-cash acquisition deal, with VAYK issuing shares to acquire the target business.

What is the focus of VAYK's new strategy?

VAYK's new strategy is to focus on the domestic short-term rental (Airbnb) market.