Nexscient Signs Letter of Intent to Acquire Flipside AI
Rhea-AI Summary
Nexscient (OTCQB:NXNT) has signed a Letter of Intent to acquire Flipside AI, a Philippines-based provider of data labeling and annotation services, for $5.94 million through a combination of cash, convertible debenture, and restricted common stock.
The acquisition strengthens Nexscient's AI capabilities, with Flipside AI having generated $9.2 million in revenues over the past four years. As part of the deal, Flipside AI's CEO Anthony De Luna will sign a five-year executive employment agreement and join Nexscient's Board of Directors.
The acquisition positions Nexscient in the rapidly growing AI data training market, projected to reach $92.4 billion by 2034 with a 22% CAGR, while the global data annotation tools market is expected to grow to $23.11 billion by 2032.
Positive
- Strategic acquisition valued at $5.94M enhances AI data training capabilities
- Flipside AI brings proven revenue generation of $9.2M over four years
- Retention of key leadership with 5-year commitment from Flipside AI's CEO
- Entry into high-growth market with AI data training projected at $92.4B by 2034
- Geographic expansion into Southeast Asia strengthens global presence
Negative
- Non-binding LOI indicates deal is not yet finalized
- Additional capital investment required in subsequent years
- Assumption of key operating liabilities as part of the deal
News Market Reaction 1 Alert
On the day this news was published, NXNT gained 32.58%, reflecting a significant positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
Expanding Nexscient's Global Portfolio of AI-Powered Platforms and Services
LOS ANGELES, CA / ACCESS Newswire / August 6, 2025 / Nexscient, Inc. (OTCQB:NXNT), a leading innovator in artificial intelligence ("AI") applications and intelligent enterprise solutions, announced today that it has executed a non-binding Letter of Intent (LOI) to acquire substantially all of the assets of Flipside Digital Content Company, Inc., a Philippines-based provider of high-quality data labeling, annotation, and digital transformation services ("Flipside AI"). This acquisition marks a significant step in Nexscient's strategy to build a global portfolio of AI-powered platforms and services.
Under the terms of the LOI, Nexscient will acquire substantially all of Flipside AI's operating assets for a total consideration of approximately
"We are thrilled to welcome Flipside AI into the Nexscient family," said Fred E. Tannous, President and CEO of Nexscient, Inc. "This acquisition enhances our capabilities in data labeling and annotation - key components of the AI data training pipeline. Generating over
"Joining Nexscient represents an exciting new chapter for Flipside," added Anthony De Luna, President and CEO of Flipside AI. "This partnership provides the strategic capital, international platform, and executive leadership to take our AI data services business to new heights. Together, we aim to become a global force in providing transformative data solutions."
The global AI data training market is projected to grow substantially, rising from an estimated
1 Data Labeling Solution and Services Market, FactMR (Apr. 2024)
2 Worldwide Artificial Intelligence Systems Spending Guide, IDC (Aug. 2024)
3 Data Annotation Tools Market, Astute Analytica, (Nov. 2024)
About Nexscient, Inc.
Nexscient [OTCQB: NXNT] is an emerging-growth company that's building a global collaborative network of intelligent enterprise applications and technologies through internal development, synergistic acquisitions, and capital investments in companies involved in machine learning, artificial intelligence, and the Industrial Internet of Things technologies. As part of our growth strategy, we also seek to acquire and integrate synergistic AI and machine learning companies and technologies into our collaborative network, further expanding our service offerings while enhancing shareholder value. For more information, please visit https://nexscient.ai.
About Flipside Digital Content Company, Inc.
Flipside AI is a premier data engineering company that blends top-tier human expertise with advanced technologies to deliver high-quality data annotation and transformation services. We empower global enterprises across diverse industries to unlock the full potential of their data, enabling them to develop fast, accurate, and scalable AI applications. For more information, please contact us at flipside@nexscient.com
Forward-Looking Statements
This release contains statements that constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These statements appear in a number of places in this release and include all statements that are not statements of historical fact regarding the intent, belief or current expectations of Nexscient, Inc., its directors or its officers with respect to, among other things: (i) financing plans; (ii) trends affecting its financial condition or results of operations; (iii) growth strategy and operating strategy; and (iv) performance of our products and services. You can identify these statements by the use of the words "may," "will," "could," "should," "would," "plans," "expects," "anticipates," "continue," "estimate," "project," "intend," "likely," "forecast," "probable," "potential," and similar expressions and variations thereof are intended to identify forward-looking statements. 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 Nexscient's ability to control, and actual results may differ materially from those projected in the forward-looking statements as a result of various factors. These risks and uncertainties also include such additional risk factors as are discussed in the Company's filings with the U.S. Securities and Exchange Commission, including its Annual Report on Form 10-K for the fiscal year ended June 30, 2024, Forms 10-Q and 8-K, and in other filings we make with the Securities and Exchange Commission from time to time. These documents are available on the SEC Filings section of the Investor Relations section of our website at https://nexscient.ai. The Company cautions readers not to place undue reliance upon any such forward-looking statements, which speak only as of the date made. The Company undertakes no obligation to update any forward-looking statement to reflect events or circumstances after the date on which such statement is made.
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COMPANY CONTACT:
Nexscient, Inc.
Fred E. Tannous, President & CEO
Email: press@nexscient.com
Phone: +1 (310) 494-6620
Web: www.nexscient.com
SOURCE: Nexscient, Inc.
View the original press release on ACCESS Newswire
FAQ
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