Metro One Telecommunications, Inc. - WOWID STOCK NEWS

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Metro One Telecommunications, Inc. (OTC PINK: WOWI), a publicly listed company, has ceased operations. They were focused on acquiring and operating innovative technologies globally. Recently, Metro One announced a proposed reverse merger with Inception XR Inc., a leading virtual reality tech company. Founded in 2016, Inception XR specializes in immersive educational content for various industries, including telecommunications and healthcare. The merger aims to capitalize on Inception XR's advanced solutions, expanding their reach and impact in the virtual reality sector.

12/26/2023 01:36 PM

News

Metro One Announces the Signing of a Term Sheet for a Reverse Merger with Leading Virtual Reality Tech Company Inception XR Inc.

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Metro One Telecommunications, Inc. (OTC PINK: WOWI) announced a Non-Binding Term Sheet for a reverse merger with Inception XR Inc., a leading virtual reality tech company. Inception XR, founded in 2016, specializes in immersive educational content for K-6, healthcare, and corporate training. The merger is expected to close by the end of Q1 2024, with Inception XR's revenue projected at $4.8 million in 2023 and positive EBITDA. The combined valuation of Metro One after the reorganization and new capital raises will be approximately $65 million, with post-merger ownership split 25% to current Metro One stockholders and debtholders, and 75% to current and new Inception XR stockholders.

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Metro One Telecommunications, Inc. To Host Shareholder Conference Call

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Metro One Telecommunications, Inc. to host shareholder conference call

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FAQ

What is the market cap of Metro One Telecommunications (wowid)?

The market cap of Metro One Telecommunications (wowid) is approximately 243.2K.

What was Metro One Telecommunications, Inc. focused on?

Metro One Telecommunications, Inc. was focused on acquiring and operating innovative technologies with the potential for global reach.

What industry did Inception XR specialize in?

Inception XR specialized in immersive educational content for industries such as telecommunications and healthcare.

What was the goal of the proposed merger between Metro One and Inception XR?

The goal of the proposed merger was to capitalize on Inception XR's advanced solutions, expanding their reach and impact in the virtual reality sector.