Invech Holdings Signs LOI to Acquire Two SaaS Platforms, Targeting $900K Annual Revenue
Invech Holdings, Inc. (OTC PINK: IVHI) signed a Letter of Intent to acquire two brokerage billing and bridge platforms as asset purchases for $750,000 in equity plus $135,000 cash, potentially generating over $900,000 annually from renewed contracts and positioning the company for a NASDAQ listing.
Invech Holdings, Inc. (OTC PINK: IVHI), a Nevada corporation headquartered in Wyoming that specializes in Software as a Service (SaaS) and general application development, announced today that it has signed a Letter of Intent to acquire two platforms in the brokerage billing and bridge space. The company identified these platforms as vital to early revenue generation.
The platforms currently operate under a business umbrella based in the United Kingdom and have several contracts generating revenue. However, those contracts have expired and are up for renewal, representing over $900,000 USD per year. Invech Holdings negotiated the purchase of these platforms as “Asset Purchases” rather than buying the company as a whole, significantly reducing the cost. According to the company, buying the business would have required over $6 million in equity plus cash. Instead, the deal is structured at $750,000 in equity plus $135,000 USD.
Invech Holdings 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, which took control halfway through the first quarter, to potentially achieve revenue generation by the end of the second quarter.
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 moves by the company since management took control less than three months ago. Invech Holdings recently purchased a fantasy sports platform, which was moved into a wholly owned subsidiary, Sporty Pick, Inc., incorporated in Nevada. The company is actively seeking new B2B deals and has expressed interest in obtaining a gambling license in Canada.
Other recent achievements include a change of control, debt reduction negotiations with prior management, the acquisition of Paragon Rentals, a seller subscription-based platform allowing sellers to list with 0% commissions, contracting financing through GHS Investments, engaging a licensed broker dealer, drafting and filing an S-1 registration, receiving SEC effectiveness, conducting the first draw down on the S-1 ELOC facility, and hiring a new Senior Tech Manager.
The company also launched a new X account @InvechHoldings and updated its website at www.invechholdings.com to keep shareholders informed of filings, news, and product updates.
Forward-looking statements in this release are based on current assumptions and involve risks and uncertainties that could cause actual results to differ materially. The company undertakes no obligation to update these statements.