Vita Mobile Systems Releases CEO Shareholder Letter on Acquisition Candidate and Audit Completion
Irvine, CA - (NewMediaWire) - July 21, 2020 - Vita Mobile Systems, Inc. (OTC PINK: VMSI), a technology company specializing in big data via digital imaging on mobile devices, today released a letter to shareholders from CEO Sean Guerrero on a potential acquisition candidate and its current audit status.
The letter is included in its entirety below:
Dear Fellow Shareholders –
It’s been an unprecedented year. Like many other companies, we have had to learn to navigate the many challenges presented by the pandemic while continuing to push the company and our technology progressively forward.
First, we apologize for the delay in providing an update on our audit. We understand and echo the frustrations of our shareholders concerning the completion of the audit. Our auditor did not agree with the accounting of certain transactions recorded by the previous management team. Our management worked diligently with our accounting team to make the required revisions so we could resubmit audited financials for 2018-2019. We anticipate the completion of the audit by the end of the month, prior to our quarterly report due in August.
Moving on, I’d like to discuss some very exciting developments concerning a potential acquisition candidate. We have been in on-going conversations with an established app company with complementary Geolocation and Camera technologies. They also already have a market presence in our space with over one million downloads. We have discussed potentially blending our technologies and tools into their existing app to expand and improve the product and the services it offers. This would allow VMSI to leverage their market presence and minimize our original need for a go-to market budget. We feel this approach would enable VMSI to bring our app technologies to market quickly, efficiently and economically. We look forward to providing more updates soon.
While this pandemic has affected all of us in different ways, we are excited about the future and look forward to sharing updates on our progress.
To learn more about VITA please visit the Vita Mobile Systems website at.
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 . 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