Aibotics Acquires Robotics Assets; Gregory Moore Appointed President, Receives 50M Shares
Aibotics Inc. has entered into an Asset Sale and Purchase Agreement with PlayJamaica Limited to acquire specific assets related to robotics, drone services, artificial intelligence, and mapping solutions. The acquisition includes tangible assets, intellectual property, customer data, and the NovaCore Labs brand. Consideration includes an initial issuance of 22,500 shares of Series B Preferred Stock, with potential for an additional $3,000,000 based on future revenue performance. Aibotics will also fund $1,000,000 into the newly formed subsidiary, NovaCore Labs Limited. Gregory Moore has been appointed President of NovaCore and will receive 50,000,000 common shares, along with performance-based bonuses and milestone awards.
Key Highlights
- Aibotics Inc. acquires robotics, drone, AI, and mapping assets from PlayJamaica Limited for 22,500 Series B Preferred Stock shares ($225,000 stated value).
- PlayJamaica may earn up to an additional $3,000,000 in Series B Preferred Stock based on cumulative gross revenue milestones over four years.
- Gregory Moore appointed President of the subsidiary (NovaCore Labs Limited) and receives 50,000,000 common shares, vesting over three years.
- Gregory Moore to receive a cash bonus of 10% of NovaCore's net income, up to $500,000 annually.
- Gregory Moore can earn up to $1,250,000 in Series B Preferred Stock based on NovaCore achieving $2,000,000 in gross revenue from acquired assets within three years.
- Aibotics and Gregory Moore to develop a budget to deploy $1,000,000 in capital into the subsidiary over 12 months.
- Aibotics enters into employment agreements with Gregory Moore and Ryan Moore.
Price Impact
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