A Forward-looking Partnership: Protect Pharmaceutical Plans to Merge with INAI App Corp and Acquire its Human Scanner Software
Protect Pharmaceutical Corp. (PRTT) has announced its intention to acquire INAI App Corp, a company specializing in Artificial Intelligence technology.
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Rhea-AI Summary
Protect Pharmaceutical Corp. (PRTT) has announced its intention to acquire INAI App Corp, a company specializing in Artificial Intelligence technology. This acquisition includes the innovative 'Human Scanner Software,' designed for security scanning in public venues like airports and hospitals. The software uses advanced computer vision and machine learning to quickly detect threats such as guns and bombs. Following the merger, INAI's founder, Nikolai Grebenkine, will lead the new entity, indicating a promising direction for the technology.
Positive
- Acquisition of INAI App Corp enhances technological capabilities.
- Human Scanner Software offers rapid threat detection using AI.
- Potential market expansion into security scanning for public venues.
Negative
- None.
Details
News Market Reaction – PRTT
The recorded move for PRTT in the trading session of this news was -5.00%.
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Minsk, Belarus, Sept. 07, 2021 (GLOBE NEWSWIRE) -- Protect Pharmaceutical Corp. “OTC:(PRTT)” is pleased to announce it plans to acquire INAI App Corp, an Artificial Intelligence-focused company. In the light of this exciting news, we’d like to add that per the deal, Protect Pharmaceutical is also planning to acquire INAI’s “Human Scanner Software.” The software will be used as a security scanner in publicly attended venues such as airports, stadiums, hospitals, etc.
The distinct feature of the tool’s technology is its fast scanning process. Using computer vision and machine learning technologies, it detects dangerous tools, such as guns and bombs, in a fraction of a second.
Nikolai Grebenkine, the founder of INAI App Corp, will assume corporate leadership of the post-merger company “On behalf of the whole INAI team, I am very excited for this new chapter of Human Scanner to begin with Protect Pharmaceutical.Stay tuned; we have really big things ahead!”, Nikolai commented on this much anticipated merger.
Forward-Looking Statements: This press release contains “forward-looking statements” within the meaning of Section 21E of the Securities Exchange Act of 1934. Except for historical matters contained herein, statements made in this press release are forward-looking statements. Without limiting the generality of the foregoing, words such as “may”, “will”, “to”, “plan”, “expect”, “believe”, “anticipate”, “intend”, “could”, “would”, “estimate,” or “continue”, or the negative other variations thereof or comparable terminology are intended to identify forward-looking statements. Forward-looking statements involve known and unknown risk, uncertainties, and other factors which may cause our actual results, performance or achievements to be materially different from any future results, performance, or achievements expressed or implied by the forward-looking statements. Also, forward-looking statements represent our management’s beliefs and assumptions only as of the date hereof. Additional information regarding the factors that may cause actual results to differ materially from these forward-looking statements is available in the Company's filings with OTC Markets. Except as required by law, we assume no obligation to update these forward-looking statements publicly or to update the reasons actual results could differ materially from those anticipated in these forward-looking statements, even if new information becomes available in the future.
For more information contact:
Protect Pharmaceutical Corp.
(801) 432-0405
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