Invech Holdings, Inc. (OTC PINK: IVHI) announced Monday that it has signed a Letter of Intent to acquire two platforms in the brokerage billing and bridge space. The company, which specializes in Software as a Service and general applications, negotiated the purchase as asset acquisitions rather than buying the company as a whole, significantly reducing costs. Instead of spending north of $6 million in equity plus cash for the entire business, Invech will pay $750,000 in equity plus $135,000 in cash for the specific assets.
The platforms currently generate revenue through several contracts under a business umbrella in the United Kingdom. However, those contracts have expired and are up for renewal, representing over $900,000 USD per year in potential revenue. Invech has identified at least three potential licensed broker dealer clients that would sign up to use these platforms under the Invech umbrella. This positions the company to potentially achieve revenue generation by the end of Quarter 2, given that current management took control halfway through Quarter one.
CEO and majority owner Alexander M. Woods-Leo stated, "These platforms represent a fast tracked approach to achieving the listing requirements to NASDAQ. Our team has the fund, (GHS Investments) and the licensed broker dealer (Craft Capital Management, LLC), and is now generating asset acquisitions to increase balance sheet strength. Our generalized plan is based on controlling the excess dilution to value ratios so that we can work to achieve the necessary price acquisition needed for our listing goals."
This acquisition follows a series of recent moves by management, who have been in control for less than three months. They have already achieved a change of control, negotiated debt reduction with prior management, acquired the platform Paragon Rentals, secured financing through GHS Investments, engaged a licensed broker dealer, drafted and filed an S-1 registration, received SEC effectiveness, conducted their first draw down on the S-1 ELOC facility, acquired a Fantasy Sports SaaS platform, hired a new Senior Tech Manager, and now signed this LOI.
The Fantasy Sports platform was recently purchased and moved into a wholly owned subsidiary, Sporty Pick, Inc., a Nevada-based sports betting company with two completed games. Sporty Pick is actively seeking new B2B deals and has identified interest in the B2C market, as well as pursuing a gambling license in Canada.
Invech Holdings also operates Paragon Rentals, a seller subscription-based platform that allows sellers to pay 0% commissions for listings, with buyers paying a flat rate per booking of $5 plus payment processing fees and booking cost. The company provides services including FINRA corporate filings, drafting incorporation documents, OTC Markets Disclosure Statements, and general public company compliance, along with software development in the SaaS space.
The company has introduced a new X account (@InvechHoldings) for updates and launched a new website at www.invechholdings.com, where the newest acquisitions section is periodically updated. For more details on the recent acquisition, see the SEC filing at https://www.sec.gov/ix?doc=/Archives/edgar/data/0001009919/000168316826003159/invech_8k.htm.
