Bell Buckle Licenses Artificial Intelligence Modeling and Simulation VLE Software Valued at Over $25 Million Dollars

Rhea-AI Summary

Bell Buckle Holdings, Inc. (OTCMKTS:BLLB) has successfully licensed its Artificial Intelligence modeling and simulation VLE software, valued at over $25 million. The deal includes an annual recurring licensing fee of $25,000 and a revenue-sharing component. The software has various applications, with a significant impact on helping the oil and gas and chemical industries reach Net-zero.

The global oil and gas industry's profits jumped to $4 trillion in 2022, up from an average of $1.5 trillion in recent years. The U.S. chemical industry, including pharmaceuticals, had chemical shipments valued at nearly $770 billion in 2021. BLLB also announced the resignation of former COO Lori Hart and welcomed new CFO Tobias Felder, who brings over 35 years of experience in corporate finance, accounting, operations, and compliance.

Positive

• Successful licensing of AI modeling and simulation software valued at over $25 million
• Annual recurring licensing fee of $25,000 with additional revenue-sharing component
• Software has potential applications in various industries, particularly in helping oil and gas and chemical sectors reach Net-zero
• Appointment of new CFO Tobias Felder with 35+ years of experience in finance and compliance

Negative

• Resignation of former COO Lori Hart

News Market Reaction

+50.00%

1 alert

+50.00% News Effect

On the day this news was published, BLLB gained 50.00%, reflecting a significant positive market reaction.

Data tracked by StockTitan Argus on the day of publication.

BOCA RATON, Fla., July 25, 2024 /PRNewswire/ -- (OTC Disclosure & News Service) -- Bell Buckle Holdings, Inc. (OTCMKTS:BLLB) today reports they have successfully licensed their Artificial Intelligence modeling and simulation VLE software valued at over $25 million dollars. The deal is structured as a private label deal with an annual reoccurring licensing fee of $25,000 dollars and a revenue sharing component that will allow for growth.

Our software has many applications in various industries. However, its impact will be most significant in helping the oil and gas and chemical industries reach Net-zero. 

(Reuters) reports global oil and gas industry's profits in 2022 jumped to some $4 trillion from an average of $1.5 trillion in recent years, according to the head of the International Energy Agency (IEA), Fatih Birol.

Statista Research Department, reports The chemical industry is one of the largest and most important industries worldwide. The United States is one of the largest national producers of chemical products globally. Including the pharmaceutical sector, its chemical shipments value was almost 770 billion U.S. dollars in 2021. The value added by U.S. chemistry in that same year amounted to over 438 billion U.S. dollars.

BLLB announces the resignation of Lori Hart former COO thanking Her for Her diligence during this transitional period and welcomes its new CFO Tobias Felder who has over 35 yrs of experience in corporate finance, accounting, operations and compliance.

Safe Harbor Statement

Forward Looking Statements Disclaimer: This release may contain statements that constitute forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, many of which are beyond Bell Buckle Holdings Inc.'s ability to control, and that actual results may differ materially from those projected in the forward-looking statements as a result of various factors. Such forward -looking statements include the words "vision," "seek", "grow", "plan" and other expressions of a forward-looking nature. More information about the potential factors that could affect the business and financial results is and will be included in Bell Buckle Holdings Inc.'s filings with the OTC Markets, Securities and Exchange Commission and/or posted on the company's website.

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SOURCE Bell Buckle Holdings, Inc.

FAQ

What is the value of Bell Buckle Holdings' (BLLB) recently licensed AI software?

Bell Buckle Holdings' (BLLB) recently licensed Artificial Intelligence modeling and simulation VLE software is valued at over $25 million.

What are the terms of BLLB's AI software licensing deal?

The licensing deal includes an annual recurring fee of $25,000 and a revenue-sharing component that allows for growth.

In which industries will BLLB's AI software have the most significant impact?

BLLB's AI software is expected to have the most significant impact in helping the oil and gas and chemical industries reach Net-zero targets.

Who is the new CFO of Bell Buckle Holdings (BLLB)?

Tobias Felder is the new CFO of Bell Buckle Holdings (BLLB), bringing over 35 years of experience in corporate finance, accounting, operations, and compliance.