Horizons Holdings International Corp. Acquires PAI-TECH Artificial Intelligence, LTD
June 28 2019 - 1:37PM
InvestorsHub NewsWire
Horizons Holdings
International Corp. Acquires PAI-TECH Artificial Intelligence,
LTD
Las Vegas, NV --
June 28, 2019 -- InvestorsHub NewsWire -- Horizons
Holdings
International Corp.,
(OTCMarkets:
HZHI), has
acquired
PAI-TECH
Artificial
Intelligence LTD -
an
Israeli based AI and
machine-learning
technology startup
company.
PAI-TECH has
developed an
unprecedented Bot Operating
System Standard (B.O.S.S.),
which
provides a digital workforce of intelligent bots
with
advanced AI
algorithms and offer real-time, autonomous and distributed
solutions.
Per the agreement,
Horizons Holdings has
issued
10,500,000
common
shares to PAI-TECH for
the
full acquisition (100%)
of
PAI-TECH
with
funding
commitment
up to
$1 Million
USD
in
working capital for the next twelve months. Pai-Tech
will apply to receive the
"pre-ruling"
letter from ITA (Israeli
Tax Authorities).
"We believe that
PAI-TECH technology is on the cutting edge of the Fourth Industrial
Revolution
(4IR)
and is a
breakthrough
combination
of technology; Blockchain,
Artificial Intelligence and Internet of
Things." commented
Tamir
Fridman
–
Co-Founder and CEO of PAI-TECH.
Brian Conrad, CEO
of Horizons Holdings commented "The
acquisition of PAI- TECH increases Horizons
Holdings'
footprint into
the disruptive
tech
space.
We are
pleased
with
the completion of this transaction, as we were
exploring a
broad
range of strategic alternatives for the company.
HZHI is committed to
maximizing value for our shareholders.
"
About PAI- TECH
PAI-TECH has
developed a brand-new Bot Operating System Standard
(B.O.S.S.),
which
provides a digital workforce of intelligent bots that are based on
advanced AI algorithms and offer real-time, autonomous and
distributed solutions. PAI's intelligent bots are able to work in
any sector and industry and provide businesses increased levels of
cybersecurity,
as
well as save companies valuable time and money by reducing
workforce costs, avoiding human errors, increasing the quality of
work and enabling data to be read in real-time. PAI's system is a
24/7 operation, is quantum safe, offers customizable scalable
solutions and has a short payback (ROI) period.
The Company is
developing a portfolio of Intellectual Property and has filed
several patents to the USPTO. The Company has
entered into co-Sale agreement with Microsoft that allows PAI-TECH
to connect with Microsoft sellers and partners who have access to
over 120 million customers around the world. PAI- TECH had
specifically developed its Bots technology to run on Microsoft
platforms. Additionally,
the
Company has entered
into
agreements with
IBM, Intel and
other
chipmakers for co-development
of the latest generation of intelligent bots to be deployed on
their latest
microprocessors, graphics chips
and AI platforms.
PAI-TECH's
headquarters are based in Tel Aviv, Israel.
For more
information, please visit: www.pai-tech.org
About Horizons Holdings International
Corp.
Horizons Holdings
International Corp. operates as holding, development and investment
company. The Company's purpose is to facilitate the acquisition of
existing companies and provide additional capital and expertise to
increase revenue and profitability of the acquired companies. The
acquisition model focuses on the full spectrum solutions. The
company considers all facets of investment
analysis,
including cash
flow, income tax consequences, capital appreciation opportunity,
market trends, and many other factors. We look to maintain an
inventory of exceptional investment opportunities from core (low
risk) to opportunistic (high risk) companies located within solid
market locations.
For more
information, please visit: http://www.horizonsholdings.com/
or
http://www.pai-tech.org
Forward-Looking Statements
Certain statements
contained in this press release may constitute "forward-looking
statements".
Forward-looking
statements provide current expectations of future events based on
certain assumptions and include any statement that does not
directly relate to any historical or current fact. Actual results
may differ materially from those indicated by such forward-looking
statements as a result of various important factors as disclosed in
our filings with the Securities and Exchange Commission located at
their website (http://www.sec.gov).
In
addition to these factors, actual future performance, outcomes, and
results may differ materially because of more general factors
including (without limitation) general industry and market
conditions and growth rates, economic conditions, governmental and
public policy changes, the Company's ability to raise capital on
acceptable terms, if at all, the Company's successful development
of its products and the integration into its existing products and
the commercial acceptance of the Company's
products.
The
forward-looking statements included in this press release represent
the Company's views as of the date of this press release and these
views could change.
However, while the
Company may elect to update these forward-looking statements at
some point in the future, the Company specifically disclaims any
obligation to do so.
These
forward-looking statements should not be relied upon as
representing the Company's views as of any date subsequent to the
date of the press release.
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