NEW YORK, NY, June 27, 2023 (GLOBE NEWSWIRE) -- International Endeavors Corp. (“IEC”) (OTC PINK: IDVV), a technology holdings company, is actively expanding its Artificial Intelligence (AI) division—and doing so brilliantly. IEC is acquiring revenue producing companies, then using the revenue they generate to acquire additional AI-based companies, and, at the same time, taking advantage of the revenue to begin to eliminate corporate debt. IEC’s expansion into AI has positioned the company to drive significant revenue, become a debt-free company, and set IEC on a path to a profitable future.
After all, it took the company’s new AI division less than two months in the AI space to amass around $600,000 in revenue, which is almost half of the company’s current market cap. And that has led to the search for its next acquisition. IEC has never been in a better position to offer investors real shareholder value.
First, because AI is clearly the key driver of transformation, disruption, and competitive advantage in today’s fast-changing economy, IEC is operating in a sector that is clearly the future of the global economy and a sector with unlimited growth potential. So, seeking out additional acquisitions that offer completely different technologies will further cement the company in the AI space, which will lead IEC to command more of the industry’s market share.
Second, the company is packaging its new found revenue with a combination of restricted stock and/or long-term “locked up” equity (up to 2 years), to (i) acquire future AI-related companies; and (ii) to begin eliminating the company’s debt with current holders. It’s an extremely savvy business move that very few microcap companies prioritize, and the benefit to shareholders is that without debt, the company can begin to turn revenue into profit.
Finally, IEC is rapidly expanding its AI division and the products/services it can offer by acquiring additional revenue-producing companies in the burgeoning AI sector. With future acquisitions, IEC can strengthen its AI portfolio by offering more services across a wider range of industries, which will obviously lead to more clients and even greater revenue.
The company has been meticulously but aggressively seeking out opportunities to broaden its footprint in the AI sector, which PwC estimates could add as much as $15.7 trillion to the global economy by 2030. In Q1, IEC acquired “WITech” and “SF Corp,” then combined the strengths and capabilities of both companies, and voilà, IEC’s AI division was born under the “WITech” brand. The AI division created an instant revenue stream for IEC as it welcomed clients in both the financial and the health and wellness sectors.
Fast forward to Q2, and now the company is taking full advantage of the revenue it has generated by reinvesting some of it back into its AI portfolio. IEC recently announced it will be acquiring “Scribs Ventures.”
Bringing Scribs Ventures, a private company with operations in California and Florida, under the WITech umbrella will immediately produce more revenue for IEC and increase the products and services the company can offer clients throughout the AI space. The company stated that Scribs has developed several AI-based technologies that utilize speech recognition and text generation, and these technologies are currently generating revenue for Scribs with its existing clients.
IEC’s AI division currently operates in the “AI content creation and marketing” industry, but the company expects to parlay the acquisition of Scribs and its technologies into the use of AI in smart phones and smart devices by launching AI-based apps, including an AI-enabled diet app and an AI-powered scheduling app.
An acquisition of technologies that green-light the development of AI-based applications would immediately catapult IEC into the fast-growing AI software industry. According to Precedence Research, the size of the global AI software market was $138.4 billion in 2022, and it is expected to surpass $1.1 trillion by 2032. The research firm added that the market is poised to grow at a compound annual growth rate (CAGR) of 22.97% from 2023 to 2032.
IEC’s Jeremy Smith, commenting on the Letter of Intent to acquire Scribs, said, “We plan on staying ahead of the industry and this will allow us to enter the smart phone/smart device segment of AI. We can begin working with smart phones (iPhone and Android) and smart devices like Amazon’s Alexa, and Apple’s Siri.” Smith also stated that due to the many services the company could begin to provide with this acquisition, IEC will be rolling out the many potential areas of expansion over the coming weeks.
The benefit of acquiring these technologies is that it presents many new business opportunities to IEC. Creating AI based or AI enabled apps would allow the company to not only develop new apps that are powered by AI, but also enhance current apps on the market or that are in development by third-party developers, as well as generate new business-to-business relationships.
So, IEC is clearly right where it should be—in a sector with exponential reach—and the company is already proving that it can quickly establish growth and drive significant revenue. The rapid expansion that we’re witnessing with IEC has the real potential to transform it into an advanced-stage technology company that could eventually become an attractive acquisition target.
To learn more about International Endeavors Corp., visit https://idvvcorp.com.
About International Endeavors Corp.
International Endeavors Corp. is a technology holdings company focused on clean energy, crypto and AI. In 2023, IDVV acquired WITech and SF Corp as part of an expansion into the AI sector. The company will incorporate AI technology into its crypto offerings and develop a platform for AI content marketing.
The company specializes in solar technology, battery storage, as well as clean energy crypto mining options for both on and off grid. IEC is currently implementing EV2G/Bi-directional charging options, which allows customers to use their electric vehicle as a backup battery or to sell power back to the grid.
In 2022, IEC started offering its clients a clean energy crypto mining solution. Its plug-n-play mining rigs can be installed in existing or current systems and the rig allows the option to sell power back to the grid or mine cryptocurrency with any power surplus.
About Stock Market Media Group
Stock Market Media Group is a news and media content development IR/PR firm offering a platform for corporate stories to unfold in the media with feature news articles, press releases, research reports, corporate videos, and radio-style CEO interviews. Your story, our words!
This article was written based on publicly available information. Stock Market Media Group may, from time to time, include our own opinions about the companies, their business, markets and opportunities in our articles. Any opinions we may offer about any of the companies we write about are solely our own and are made in reliance upon our rights under the First Amendment to the U.S. Constitution and are provided solely for the general opinionated discussion of our readers. Our opinions should not be considered to be complete, precise, accurate, or current investment advice, or construed or interpreted as research. Any investment decisions you may make concerning any of the securities we write about are solely your responsibility based on your own due diligence. Our publications are provided only as an informational aid, and as a starting point for doing additional independent research. We encourage you to invest carefully and read the investor information available at the web site of the U.S. Securities and Exchange Commission at www.sec.gov, where you can also find IEC’s filings and disclosures. We also recommend, as a general rule that before investing in any securities, you consult with a professional financial planner or advisor, and you should conduct a complete and independent investigation before investing in any security after prudent consideration of all pertinent risks. We are not a registered broker, dealer, analyst, or advisor. We hold no investment licenses and may not sell, offer to sell, or offer to buy any security. Our publications about IEC are not a recommendation to buy or sell a security.
Should Stock Market Media Group and its management own shares in the profiled company, they may benefit from any increase in the share price of the profiled companies and hold the right to sell the shares bought at any given time including shortly after the release of the company’s profile. Section 17(b) of the 1933 Securities and Exchange Act requires publishers who distribute information about publicly traded securities for compensation, to disclose who paid them, the amount, and the type of payment. Under the Securities Act of 1933, Section 17(b), Stock Market Media Group discloses that it was remunerated one-thousand, three hundred dollars paid for by a third party via bank wire, to produce this content related to International Endeavors Corp.
Stock Market Media Group and its management do not own any shares in IEC and never accepts compensation in free-trading shares for its marketing services of the company being profiled, however third parties that have compensated Stock Market Media Group may hold free-trading shares of the company being profiled and could very well be selling, holding or buying shares of the company’s stock at the same time the content is being disseminated to potential investors; this should be viewed as a definite conflict of interest and as such, the reader should take this into consideration.
If Stock Market Media Group ever accepts compensation in the form of free trading shares of the company being profiled and decides to sell these shares into the public market at any time before, during, or after the release of the company’s profile, our disclaimer will be updated accordingly to reflect the current position of any free trading shares received as compensation for our services.
For more information: www.stockmarketmediagroup.com
