Invech Holdings, Inc. (OTC PINK: IVHI) has signed a Letter of Intent to acquire two platforms in the brokerage billing and bridge space, the company announced today. The platforms, currently operating under a business umbrella in the United Kingdom, have contracts generating over $900,000 USD per year, though those contracts have expired and are up for renewal.
The company negotiated to purchase the platforms as asset purchases rather than buying the entire business, significantly reducing costs. Under the agreement, Invech will pay $750,000 in equity plus $135,000 USD for the assets. In contrast, acquiring the company as a whole would have cost over $6 million in equity plus cash.
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.”
Invech has identified at least three potential licensed broker dealer clients that would sign up to use these platforms under the Invech umbrella. This could position the company to achieve revenue generation by the end of Quarter 2, given that current management took control halfway through Quarter 1.
This acquisition follows Invech’s recent purchase of a fantasy sports platform, which was moved into a wholly owned subsidiary, Sporty Pick, Inc. Sporty Pick, a Nevada-based sports betting company, has completed two games and is actively seeking new B2B deals and exploring the B2C market, with plans to obtain a gambling license in Canada.
Management, in control for less than three months, has already achieved several milestones, including a change of control, debt reduction negotiations, acquisition of Paragon Rentals, a financing contract with GHS Investments, engagement of a licensed broker dealer, drafting and filing an S-1 registration, receiving SEC effectiveness for the S-1, conducting the first drawdown on the S-1 ELOC facility, acquiring a fantasy sports SaaS platform, hiring a new senior tech manager, and signing the LOI for the two additional SaaS platforms.
Paragon Rentals, a seller subscription-based platform, allows sellers to list with 0% commissions, while buyers pay a flat rate of $5 plus payment processing fees and booking cost.
Invech Holdings also introduced a new X account, @InvechHoldings, and updated its website at www.invechholdings.com, where the newest acquisitions section will be periodically updated.
The company’s services include FINRA corporate filings, drafting incorporation and corporate documents, OTC Markets disclosure statements, and general public company compliance. IVHI also specializes in software development, particularly in the SaaS space, creating its own platforms and investing in others.
The forward-looking statements in this release are based on current assumptions and involve risks and uncertainties, including the ability to market products, customer acceptance, competition, and regulatory compliance. Invech undertakes no obligation to update any forward-looking statements.
