NEW YORK, Dec. 3, 2024 (GLOBE NEWSWIRE) — AB International Group Corporation (OTC: ABQQ), an intellectual property (IP) and film investment and licensing company, announced today that the company has acquired four shareholders and its own stock. announced that they had entered into a purchase agreement. 300,000,000 shares upon cancellation, pursuant to which all non-affiliated companies of the Company have agreed to repurchase their common stock at a par value of $0.001. The price paid by the Company under the repurchase agreement is $390,000 and will be funded with cash on hand.
ABQQ today announced plans to spin off its non-fungible token (NFT) MMM IP and artificial intelligence (AI) consulting division and take the new company public. This strategic move is aimed at unlocking shareholder value by allowing each business unit to pursue its own growth strategies independently while leveraging the burgeoning market for NFT and AI technologies. .
Spin-off details:
– Entity name: The new entity, tentatively named AB Digital Innovations, will be dedicated to the development and commercialization of NFT marketplaces, AI consulting services, and related intellectual property.
– Business Model: AB Digital Innovations will leverage ABQQ's existing infrastructure in the NFT IP space, including the NFT Movie and Music Marketplace (NFT MMM), to enhance film production, distribution, and consumer engagement through AI Expanding into a broader range of AI consulting services aimed at technology.
– Strategic rationale: The spin-off will provide a clearer market focus, potentially attracting specialized investments, and provide investors with genuine investment opportunities in the rapidly evolving digital assets and AI space. Designed.
– Initial public offering: Details regarding the timing and terms of AB Digital Innovations' initial public offering (IPO) will be announced in due course. The company is currently preparing for the necessary documentation and regulatory compliance activities in preparation for listing.
Benefits for existing ABQQ shareholders:
1. Unlock Value:
– This spin-off, powered by significant external investment, is expected to more clearly delineate the value of each business segment, potentially leading to higher market valuations for shareholders.
2. Investment opportunities:
– Shareholders will receive shares in AB Digital Innovations, giving them a stake in a new high-growth sector as well as benefiting from a significant investment in the company.
3. Higher earning potential:
– Investments and spin-offs could lead to higher returns to shareholders, as both companies would be able to pursue more aggressive growth strategies tailored to their respective niche markets.
4. Increased market attention:
– This significant investment confirms the market's confidence in AB Digital Innovations' potential and is likely to attract further interest from investors, potentially increasing the stock's liquidity and market visibility. there is.
“This spin-off is a testament to our commitment to innovation and growth,” said Chiyuan Deng, CEO of AB International Group Corp. We believe we can better adjust our strategy to meet demand.” Enhance the value of these markets and thereby increase value for our stakeholders. ”
“We are excited about the possibilities this separation brings,” said Charles Tan, head of investor relations. “You will be able to directly leverage your interest,” he added.
About AB International Group Co., Ltd.
AB International Group Corp. is an intellectual property (IP) and film investment and licensing company focused on the acquisition and development of various intellectual properties. We acquire and distribute movies. The company owns the NFT Movie and Music Marketplace (NFT MMM) IP as a unique entertainment industry non-fungible token. The company currently operates a physical movie theater, AB Cinema, in New York and plans to expand nationwide (www.abcinemasny.com). The company also owns ABQQ.TV, an online streaming platform for movies and TV shows. ABQQ TV, like other online streaming platforms, generates revenue through a hybrid subscription model and advertising model.
For more information, please visit www.abqqs.com, www.abcinemasny.com, www.stareast.io and www.ABQQ.tv.
Forward-looking statements
This press release contains “forward-looking statements” made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, including statements regarding changes in our management and the , includes financial and operational statements. performance, including revenue and profit acceleration and the company's overall strategy; Forward-looking statements inherently involve risks and uncertainties that could cause actual future results to differ materially from those expressed or implied by such forward-looking statements. These risks and uncertainties include the possibility of business interruption, competitive uncertainties, general economic and business conditions in the AB International Group market, and those detailed in the company's filings with the Securities and Exchange Commission. including, but not limited to, other risks associated with AB International Group undertakes no obligation to update the statements in this press release for changes that occur after the date of this release.
Investor information contact:
charles tan
(852) 2622 2891
corp@abqqs.com
