Active Health Foods, Inc. (OTC: AHFD), operating through CoinChamp, has signed a Statement of Work with software development firm MEV, LLC. The collaboration aims to initiate the discovery stage for CoinChamp's plug-and-play NFT platform, designed to simplify NFT creation and management. CEO Glen Bonilla emphasizes the potential to democratize NFTs, tapping into a vast market. The SOW marks the beginning of development, with further steps pending Company approval. Active Health Foods focuses on advancing its NFT initiatives following the acquisition of CoinChamp.
Active Health Foods has finalized a share exchange agreement with CoinChamp, acquiring it for $500,000 in AHDF shares. This transaction converts CoinChamp into a wholly-owned subsidiary, with full consolidation of its financial statements expected for Q4. CoinChamp operates a prediction platform for various events and has an app available on the App Store. CEO Glen Bonilla expressed optimism about the acquisition, anticipating increased brand presence and revenue through wider audience engagement. The deal was completed on October 19, 2021, involving 87,719,298 shares at the prior day's closing price.
On October 13, 2021, Active Health Foods (AHFD) announced its planned acquisition of CoinChamp, a prediction platform for various events, including crypto markets and sports. CoinChamp offers distinctive live prediction rounds and picks contests, aimed at enhancing user engagement and monetization through in-app purchases. CEO Glen Bonilla expressed optimism about the acquisition, highlighting its potential to increase shareholder value and generate growth opportunities. The company is also seeking licenses to facilitate crypto transactions directly on the platform.
On October 11, 2021, Glen Bonilla acquired a controlling interest in Active Health Foods (OTC: AHFD) and was appointed President and CEO. Bringing his extensive banking and entrepreneurial experience, Bonilla aims to focus on mergers and acquisitions, particularly in tech and cannabis sectors. He emphasized the importance of protecting shareholders and preventing delisting. Bonilla expressed his commitment to creating an American comeback story, leveraging his success with CoinChamp, a platform recognized in Forbes.