TipMeFast, Inc. Closes Acquisition of Lucent, Inc.

Rhea-AI Summary

TipMeFast Inc (OTC: TMEF) has completed the acquisition of Lucent Inc, a company focused on AI technology in clean energy storage. As part of the acquisition, Lucent's President and CEO Steven Arenal, who brings 22 years of international finance experience, will join TipMeFast. The company plans to change its name to Lucent Inc.

Lucent operates in AI data centers and cloud computing, with offices in Irvine, CA, and Taipei, Taiwan. The acquisition will enable Lucent to leverage equity for expansion and apply its technologies to the EV charger sector. The company supports all 17 UN Sustainable Development Goals and focuses on providing sustainable, high-performance solutions for businesses and public sectors.

Positive

• Strategic acquisition provides entry into AI and clean energy storage markets
• Experienced leadership addition with Steven Arenal's 22 years of international finance expertise
• Geographic expansion with presence in both US and Taiwan markets
• Access to additional equity funding for business expansion
• Technology application expansion into EV charger sector

Negative

• None.

Appoints Steven Arenal as President, Chief Executive Officer, and Member of the Board of Directors

Santa Ana, CA., Dec. 04, 2024 (GLOBE NEWSWIRE) -- TipMeFast, Inc. (OTC: TMEF) today announced the closing of its acquisition of Lucent, Inc., a company specializing in applying AI technology in the clean energy storage sector.

With this acquisition, TipMeFast, Inc. will retain Lucent President and CEO Steven Arenal, who brings nearly 22 years of international finance expertise. Mr. Arenal specializes in corporate consulting, corporate finance, and M&A and focuses primarily on mid-sized companies looking to expand internationally. Mr. Arenal has been president and CEO of Lucent, Inc. since its inception and was integral in facilitating the acquisition.

Steven Arenal commented, “Closing this acquisition is the gateway for Lucent’s accelerated growth, and we're very excited to pool our resources and execute.” Mr. Arenal said, "Lucent now can leverage equity for expansion and apply its recently acquired technologies to the EV charger sector."

Lucent's mission is to revolutionize the AI data center and cloud computing industry with an AI applications platform and harness the power of clean energy. With offices in Irvine, CA, and Taipei, Taiwan, Lucent is committed to providing sustainable, reliable, high-performance solutions that empower businesses and public sectors to thrive digitally. Through collaboration and partnership with governments, businesses, and communities and unwavering dedication to environmental responsibility, Lucent strives to create a brighter, cleaner future for all.

TipMeFast, Inc. has initiated the process of applying for a name change to Lucent, Inc.

Lucent engages in sustainable business practices and supports all 17 of the UN’s Sustainable Development Goals.

Further information on Lucent can be found at https://www.lucentlabs.ai.

About Lucent Inc.:

Lucent’s mission is to revolutionize the AI data center and cloud computing industry through AI application platforms and harnessing the power of clean energy. With offices in Irvine, CA, and Taipei, Taiwan, Lucent is committed to providing sustainable, reliable & high-performance solutions that empower businesses and public sectors to thrive in a digital world. Through collaboration & partnership with governments, businesses, and communities, and unwavering dedication to environmental responsibility, Lucent strives to create a brighter, cleaner future for all.

Forward Looking Statements Disclaimer

Certain information set forth in this press release contains “forward-looking information”, including “future-oriented financial information” and “financial outlook”, under applicable securities laws (collectively referred to herein as forward-looking statements). Except for statements of historical fact, the information contained herein constitutes forward-looking statements and includes, but is not limited to, the (i) projected financial performance of the Company; (ii) completion of, and the use of proceeds from, the sale of the shares being offered hereunder; (iii) the expected development of the Company’s business, projects, and joint ventures; (iv) execution of the Company’s vision and growth strategy, including with respect to future M&A activity and global growth; (v) sources and availability of third-party financing for the Company’s projects; (vi) completion of the Company’s projects that are currently underway, in development or otherwise under consideration; (vi) renewal of the Company’s current customer, supplier and other material agreements; and (vii) future liquidity, working capital, and capital requirements. Forward-looking statements are provided to allow potential investors the opportunity to understand management’s beliefs and opinions in respect of the future so that they may use such beliefs and opinions as one factor in evaluating an investment.

These statements are not guarantees of future performance and undue reliance should not be placed on them. Such forward-looking statements necessarily involve known and unknown risks and uncertainties, which may cause actual performance and financial results in future periods to differ materially from any projections of future performance or result expressed or implied by such forward-looking statements.

Although forward-looking statements contained in this press release are based upon what management of the Company believes are reasonable assumptions, there can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. The Company undertakes no obligation to update forward-looking statements if circumstances or management’s estimates or opinions should change except as required by applicable securities laws. The reader is cautioned not to place undue reliance on forward-looking statements.

Investor Relations Contact:

Matthew Abenante, IRC

President

Strategic Investor Relations, LLC

Tel: 347-947-2093

Email: matthew@strategic-ir.com

FAQ

What companies are involved in the TMEF acquisition deal?

TipMeFast Inc (OTC: TMEF) has acquired Lucent Inc, a company specializing in AI technology for clean energy storage.

Who is the new CEO of TMEF following the acquisition?

Steven Arenal, former President and CEO of Lucent Inc, has been appointed as President, CEO, and Board Member of TipMeFast (TMEF).

What markets will TMEF expand into after acquiring Lucent?

Following the acquisition, TMEF will expand into AI data centers, cloud computing, and the EV charger sector, with operations in both the US and Taiwan.

What is the planned name change for TMEF?

TipMeFast (TMEF) has initiated the process to change its name to Lucent Inc following the acquisition.