Vita Mobile Systems Announces LOI to Acquire an Artificial Intelligence Software Company
Irvine, CA - (NewMediaWire) - June 17, 2021 - Vita Mobile Systems, Inc. (OTC PINK: VMSI), a technology company focused on digital imaging in mobile devices, collection and management of big data and development of artificial intelligence, today announced it has signed a non-binding letter of intent (LOI) to acquire a technology company with proprietary Artificial Intelligence software. The acquisition would see VMSI absorb a company with a proprietary Artificial Intelligence (AI) Resource Engine designed to analyze geolocation-based information and trends to address many of the economic and social concerns the world is facing as it transitions into a new post-pandemic society.
“As we emerge from an unprecedented year, we are excited and optimistic for this acquisition and for the future on VMSI. The pandemic reshaped the world, its industries and how people interact and connect. One of the most significant changes the pandemic brought was a revolution in technology used to bring people together virtually. VMSI’s products originally had a focus on events where people would come together physically, but the pandemic changed the way people interact and we changed with it. We re-aligned our technology suite to meet the changes and, today, VMSI is well positioned to capitalize on the need for immediate geolocation-based information that has been re-enhanced by the pandemic. During the past months, management has also worked on developing strategic partnerships and evaluating acquisition candidates that would complement our technology foundation,” stated Sean Guerrero, CEO of Vita Mobile Systems.
“We are moving quickly to complete the acquisition agreement by the end of the month, which would enable us to jointly launch both desktop and mobile products this year. Their proprietary AI engines and VMSI’s ability to execute its learning algorithms would provide immense long-term value as the localized data needs of our evolving world are constantly expanding. There are many synergies between our two companies, and we are looking forward to a successful mutual path moving forward.”
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About Vita Mobile Systems, Inc. ()
Vita Mobile Systems, Inc. (OTC PINK: VMSI) is a technology company focusing on digital imaging in mobile devices, collection of big data and development of artificial intelligence. Vita Mobile Systems is currently finalizing their first geolocation-based, social media app "VITA" for release on both iOS and Android. Comprised of a strong foundation of successful entrepreneurs, Vita Mobile Systems has developed proprietary algorithms and tools which gather, categorize, analyze and augment digital content. Over the years, Vita Mobile Systems has used these proprietary marketing, social media, and data collection tools to generate significant amounts of internet traffic for advertising networks. Vita Mobile Systems aims to create a monumental library of crowdsourced content, a massive catalogue of predictive big data, and platform for ultra-targeted advertising. The company expects to establish a strong foundation within the multibillion-dollar industry of driving big data and targeted advertising through its process of cataloging, meta-tagging, analyzing, and predicting trends of everyday people in everyday life.
Cautionary Language Concerning Forward-Looking Statements:
This press release contains forward-looking statements. The words or phrases "would be," "will allow," "intends to," "will likely result," "are expected to," "will continue," "is anticipated," "estimate," "project," or similar expressions are intended to identify "forward-looking statements." Actual results could differ materially from those projected by VITA. The public filings, if any, of Vita Mobile Systems, Inc. (OTC Pink: VMSI) may be accessed at www.otcmarkets.com. Statements made herein are as of the date of this press release and should not be relied upon as of any subsequent date. VITA cautions readers not to place reliance on such statements. Unless otherwise required by applicable law, VITA does not undertake, and VITA specifically disclaims any obligation, to update any forward-looking statements to reflect occurrences, developments, unanticipated events or circumstances after the date of such statement.
Vita Mobile Systems, Inc.
2640 Main St.
Irvine, CA 92614