NEW YORK, NY / ACCESSWIRE / August 18, 2021 / Image Protect Inc. (OTC Pink:IMTL) (https://imageprotect.com/) ("Image Protect", "IMTL", or the "Company"), an emerging Media Company, has terminated its Acquisition of OTCPR wire. The deal was set as an acquisition using restricted stock as the currency. The price was set at five hundred thousand dollars in restricted stock based on the price of the stock based on the day of closing. The Company had prepared closing documents in-which were failed to be executed by Image Protect Inc. and the Principle of OTCPR indicated a desire to terminate in writing, thus making it mutual parting.
The Company invested Capital pre-close and had a chance to examine the books and records along with the projected income and ultimately concluded, the value to the shareholders, for the cost of the dilution didn't add up and better to pull out than close.
The Company CEO, Lawrence Adams stated, "The Acquisition looked like a match but for the sake of true value to our shareholders, we felt it better to cut and walk, and it seemed mutual on both sides". He further stated, "Working with the principles of OTCPR wire was a pleasure, but ultimately, value to our shareholders trump any and all decisions, plus this allows us to better focus on the ever exciting NFT market, which has exploded and we're fortunate to be so well positioned to capitalize on this emerging market place".
About Image Protect:
Image Protect is a media company with a focus on microcap news, information, and disclosure, as well as crypto, blockchain, and digital assets. Its unique digital asset library and proprietary technology via subsidiary Fotofy. are conducive to the foundation of an impactful NFT marketplace.
Safe Harbor Provision
Cautionary statement for purposes of the "Safe Harbor" provisions of the Private Securities Litigation Reform Act of 1995: Information in this news release contains forward-looking statements that involve risks, uncertainties and assumptions. If such risks or uncertainties materialize or such assumptions prove incorrect, the results of the Company and its consolidated subsidiaries could differ materially from those expressed or implied by such forward-looking statements and assumptions. All statements other than statements of historical fact are statements that could be deemed forward-looking statements. Risks, uncertainties and assumptions include the execution and performance of contracts by the Company and its customers, suppliers and partners. The Company disclaims any obligation to update or revise statements contained in this news release based on new information or otherwise.
Corporate Contact:
Image Protect
Preya Narain
347-837-0626
Preya.Narain@imageprotect.com
SOURCE: Image Protect, Inc.
View source version on accesswire.com:
https://www.accesswire.com/660328/Image-Protect-Inc-IMTL-Announces-the-Termination-of-the-Acquisition-of-OTCPR-WireMcap-Media-Wire
