International Consolidated Companies (OTCMKTS:INCC) implemented a letter of intent earlier on July 2,2021 for acquiring SoundTech AI and entered into a definitive agreement for the acquisition of SoundTech AI, Incbefore July 30, 2021.
The company will acquire all outstanding shares for preferred X stock valued at $150 million.
SoundTech AI, having developed an unprecedented Next Generation 360 Immersive AudioExperience, combinesquantum computingandartificial intelligence through its proprietary software resulting in transforming music.
Developer and founder Andrew Denis said that the company has solve the code of a different sound experience and brand-new music for a listener hearing their favour number for first time. Holographic Sound Field, STAI’s flagship product,is an achievement giving patented enhanced audio for music, live concert performance, films and gaming.
The immersive audio experience can be heard on any device, including car speakers, headphones, home amongst others and the listener will be immersed in dimensional audio not requiring special hardware. With zero-install download and immediate streaming delivery, Chief Marketing Officer Mark Romeo opined that High Quality Digital Audio has arrived, and the firm looks forward to introducing the future of sound and music through its proprietary products. The company’s extensive IPR portfolio has exclusive licenses on one patent, 26 trademarks and six pending ones.
The firm’s management includes Co-Founder, CTO, and Chief Scientist, Andrew Denis, who was involved in conception of the NEXT Computer, MIT Media Lab and creation of Bitcoin and many other ground-breaking technologies.
Market Reaction:
On Friday, INCC stock slumped 37% at $0.0031 with more than 769.59 million shares, compared to its average volume of 172.27 million shares. The stock had moved within a range of $0.0026 – 0.0072 after opening the trade at $0.0055. Over the past 52-week, the stock has been trading within a range of $0.0000 – 0.0088.
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