Vemanti Group Inc. (OTCK: VMNT) Conducts Key NASDAQ Uplisting-Related Acquisition
One of the companies that made a major new announcement yesterday was Vemanti Group Inc. (OTCK: VMNT) after it revealed that it had completed a key acquisition transaction. However, more importantly, it was noted that the transaction would help the company in eventually getting its stock listed on the NASDAQ.
The Acquisition
In the news release yesterday, the company announced that it had picked up a controlling stake in the Singapore-based XPLOR Technology Pte Ltd, the parent company of the advanced crypto exchange platform ONUS Pro. As per the provisions of the agreement between the two parties, XPLOR’s Eric Vuong was appointed as the Chairman of the board of directors of the company. The company noted that the latest move was a significant one for its digital finance strategy and its aim of listing on a senior exchange.
Key Information
Vemanti Group picked up a 51% stake in XPLOR, and the transaction was conducted entirely in stock. The company offered 80 million common shares, 32 million Series A preferred shares, and 8 million Series B preferred shares to the existing shareholders of XPLOR. The shareholders would hold the stock until Vemanti Group’s uplisting to NASDAQ.
CEO Comment
“We are pleased to officially welcome XPLOR,” said Tan Tran, CEO of Vemanti Group. “With an established platform and expanding user base, we are well-positioned to accelerate revenue growth, scale our operations, and unlock new value through innovative digital finance solutions for Vietnam and other Southeast Asian markets.”
Fundamentals
| P/E Ratio | -10.1000 |
| PEG Ratio | 48.42 |
| Price to Book | -1.14 |
| Price to Cash Flow | 48.957 |
| Price to Free Cash Flow | 48.957 |
| Total Sales (TTM) | 0.87 M |
| Revenue per Share (TTM) | 0.01 |
| Shares Outstanding | 73.436 M |
| Share Float (%) | 52.36 M (71.29%) |
