VAYK Announces Mutual Termination of Home Engineering Acquisition, CEO Transition and Strategic Refocus

Rhea-AI Summary

Great Estate Blockchain (OTC Pink: VAYK) mutually terminated its acquisition of a 50.1% stake in a home engineering business, divesting the unit that generated the overwhelming majority of about $2.0 million 2025 revenue. CEO Jason Armstrong resigned, and Paula Wang was named Interim CEO.

The termination avoids a valuation adjustment that would have required issuing a substantial number of new shares. VAYK plans to remain public while pursuing new business opportunities, partnerships, and acquisitions aligned with its strategy and capital structure.

Positive

• Termination avoids issuing a substantial number of additional shares under valuation adjustment
• Divestiture may better align strategy with existing capital structure
• Appointment of Interim CEO ensures leadership continuity during strategic review

Negative

• Divested business generated overwhelming majority of approximately $2.0 million 2025 revenue
• Chief Executive Officer Jason Armstrong resigned following termination of acquisition agreement
• Company now lacks its prior main operating revenue source, increasing business uncertainty
• Prolonged share price below $0.001 versus $0.005 acquisition valuation highlights market weakness

News Market Reaction – VAYK

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In the Jun 16 session, VAYK gained 40.00%, reflecting a significant positive market reaction.

Data tracked by StockTitan Argus on the day of publication.

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ATLANTA, June 15, 2026 (GLOBE NEWSWIRE) -- Great Estate Blockchain, Inc. (OTC Pink: VAYK), formerly known as Vaycaychella, Inc., today announced that it has mutually terminated the acquisition agreement under which it acquired a 50.1% ownership interest in a home engineering business. As a result, the Company has divested its ownership interest in the business, which contributed the overwhelming majority of VAYK's approximately $2.0 million in revenue during 2025.

Two months ago, the Company issued a statement advising shareholders that the home engineering business faced substantial uncertainty arising from a valuation adjustment mechanism contained in the acquisition agreement. Under the terms of that agreement, the valuation adjustment was designed to be triggered once the annual revenue of the acquired business exceeded $1.5 million.

The acquired business generated more than $2.0 million in revenue during 2025. At the same time, due to market conditions beyond the Company's control, the average closing price of VAYK's common stock remained below $0.001 per share for several months, significantly below the $0.005 per share valuation used at the time of acquisition. As a result, the valuation adjustment mechanism would have required the issuance of a substantial number of additional shares to the seller, a result that neither party considered beneficial.

Following extensive discussions, the parties were unable to reach mutually acceptable terms regarding the valuation adjustment provisions. Accordingly, the parties mutually agreed to terminate the acquisition agreement, resulting in the Company's divestiture of its 50.1% ownership interest in the home engineering business.

In connection with the mutual termination of the acquisition agreement, Mr. Jason Armstrong, founder of the home engineering business and Chief Executive Officer of VAYK since the acquisition, has resigned from his position as Chief Executive Officer. The Board of Directors thanks Mr. Armstrong for his service and contributions to the Company and wishes him success in his future endeavors.

The Board reaffirmed its commitment to advancing the Company's long-term objectives and believes the termination provides an opportunity to pursue new strategic initiatives better aligned with the Company's vision and capital structure. The Company intends to continue operating as a public company while evaluating new business opportunities, strategic partnerships, and potential acquisitions designed to enhance long-term shareholder value.

To ensure continuity of leadership, the Board has appointed Paula Wang, a Project Manager with the Company, as Interim Chief Executive Officer effective immediately. Ms. Wang will oversee the Company's day-to-day operations while the Board evaluates strategic alternatives and the next phase of the Company's growth.

Disclaimer/Safe Harbor: This news release contains forward-looking statements within the meaning of the Securities Litigation Reform Act. The statements reflect the Company's current views with respect to future events that involve risks and uncertainties. Among others, these risks include the expectation that any of the companies mentioned herein will achieve significant sales, the failure to meet schedule or performance requirements of the companies' contracts, the companies' liquidity position, the companies' ability to obtain new contracts, the emergence of competitors with greater financial resources and the impact of competitive pricing. In the light of these uncertainties, the forward-looking events referred to in this release might not occur.

VAYK Contact:

Contact@GreatEstateBlockchain.com

FAQ

What did VAYK announce about the termination of its home engineering acquisition on June 15, 2026?

VAYK announced a mutual termination of its acquisition of a 50.1% home engineering business stake. According to the company, this divestiture ends ownership in a unit that produced the overwhelming majority of about $2.0 million in 2025 revenue.

How did the valuation adjustment mechanism affect VAYK (OTC Pink: VAYK) and the home engineering deal?

The valuation adjustment could have required VAYK to issue a substantial number of additional shares. According to the company, this mechanism was tied to the acquired business exceeding $1.5 million in annual revenue, which surpassed $2.0 million in 2025.

Why did VAYK decide to divest its 50.1% interest in the home engineering business?

VAYK and the seller mutually agreed to terminate after failing to agree on valuation adjustment terms. According to the company, the required additional share issuance was viewed as undesirable by both parties, leading to the divestiture of its ownership interest.

What leadership changes did VAYK announce with the acquisition termination?

VAYK reported that CEO Jason Armstrong resigned following the mutual termination of the acquisition. According to the company, the Board appointed project manager Paula Wang as Interim CEO to oversee daily operations during the strategic review period.

How did VAYK’s share price influence the outcome of the home engineering acquisition?

VAYK’s average share price stayed below $0.001, far under the $0.005 acquisition valuation. According to the company, this gap meant the valuation adjustment would trigger substantial new share issuance, contributing to the decision to terminate the agreement.

What is VAYK’s strategic plan after divesting the home engineering business?

VAYK intends to continue operating as a public company while evaluating new opportunities. According to the company, it is exploring new businesses, strategic partnerships, and potential acquisitions aimed at enhancing long-term shareholder value and aligning with its capital structure.