NEWPORT BEACH, Calif., June 21, 2024 (GLOBE NEWSWIRE) -- Neon Bloom, Inc. (OTC PINK: NBCO) (the "Company"), announced today that it has completed the acquisition of Advanced Executive Sales, LLC (AES), a leading financial services company providing business development and software solutions to all types of businesses, specializing in electronic payment and card processing.
Following several months of negotiations between Neon Bloom and Mr. Greg Bauer, the Managing Member of AES, resulting in a mutual agreement on April 15, 2024 as to the structure and consideration for the acquisition, the Company and Mr. Bauer finally completed their respective due diligence and closed this week.
As part of the final agreement, the Company Mr. Bauer returned 200,000,000 shares of the Company's Common Stock, returning 50,000,000 shares of Common Stock in exchange for 2,000,000 shares of the Company's Series B Convertible Preferred Stock. The restructuring of the acquisition consideration reduced the number of shares of the Company's Common Stock issued and outstanding to 212,260,668 shares. Mr. Bauer was also appointed as a member of the Company's Board of Directors and as its Chief Executive Officer.
Under the terms of the final agreement, AES will be converted from a Florida Limited Liability Company to a Florida C-Corp and continue to operate as a wholly owned subsidiary as "Advanced Executive Sales Inc.".
About Neon Bloom:
Neon Bloom, Inc. (OTC PINK: NBCO) is a diversified enterprise group, currently engaged in the development of new life-science technologies, technologically improved financial services, and other
emerging business with potentially high growth and other cross-industry segment synergistic qualities. With the closing of the acquisition of Advanced Executive Sales LLC, the company is expected to have annual revenues in excess of $20,000,000 and growing. The Company intends shift its focus to the financial services sector and grow revenue and net asset value by organic growth and through additional acquisitions utilizing shares of its common stock, non-convertible promissory performance-based notes, and cash as available.
About Advanced Executive Sales LLC:
AES is a rapidly growing financial services company providing business development and software solutions to all types of businesses, specializing in electronic payment and card processing. The company is one of the leading providers of e-Commerce and Point of Sale transaction solutions which enable it to provide secure interactions between merchants and customers for a wide range of industries with its payment processing platform; it is a certified partner with YNLO Ultratech, Payshield and has over 100 e-Commerce sites currently under contract, with plans for near-term expansion with the acquisition of several other FinTech firms with payment processing technology which will complement that currently utilized by AES.
For the year ended December 31, 2023, AES had $$23,235,048 in gross revenue and a net profit of $1,655,613; for the first quarter of 2024 AES posted gross revenue of $5,521,430 and a net profit of $395,408.
Forward-Looking Statements:
This press includes "forward-looking statements", that involve risks and uncertainties. All statements other than statements of historical facts, included in this press release that address activities, events, or developments that we expect or anticipate will or may occur in the future, including such things as future
capital expenditures (including the amount and nature thereof), business strategy and measures to implement strategy, competitive strength, goals, expansion and growth of our business and operations, plans, references to future success, reference to intentions as to future matters, and other such matters are forward-looking statements. In some cases, you can identify forward-looking statements by terminology such as "may," "will," "should," "expects," "plans," "anticipates," "believes," "estimates," "predicts," "potential," or "continue," or the negative of such terms or other comparable terminology. These statements are only predictions. Actual events or results may differ materially. These statements are based upon certain assumptions and analyses made by us considering our experience and our perception of historical trends, current conditions and expected future developments as well as other factors that we believe are appropriate in the circumstances. However, whether actual results and developments will conform to our expectations and predictions is subject to several risks, uncertainties, and other factors, many of which are beyond our control. Although we believe that the expectations reflected in the forward-looking statements are reasonable, we cannot guarantee future results, levels of activity, performance, or achievements. Moreover, we do not assume responsibility for the accuracy and completeness of such forward-looking statements. We are under no duty to update any of the forward-looking statements after the date of this release to confirm such statements to actual results.
CONTACT: Shareholder Relations
EMAIL: info@advancedexecutivesales.com
WEBSITE: www.advancedexecutivesales.com
TELEPHONE: 1 888-411-5350
