AV1 Group Releases Details of Intelligent Lighting Corp Acquisition
LA JOLLA, California, August 15, 2017 /PRNewswire/ --
AV1 Group, Inc. (OTC Pink: AVOP), a publicly-traded investment and holding company, today announced further details of its previous purchase of 49% of Intelligent Lighting Corp. ("ILC"
, a privately-held company that owns a disruptive technology that can be used to produce a whole new generation of light bulbs for commercial and consumers use.
The compensation for the acquisition was made with a combination of cash and stock. If revenue benchmarks are met, there will be additional common stock issued to ILC. The agreement also contains provisions where AVOP will conduct fundraising initiatives going forward as needed to bring the technology to market.
ILC's proprietary technology, PowerDisc TM, includes a game-changing lighting technology with a lightbulb that could last 14 years; Burning 24/7 while reducing energy consumption up to 42%. The second product is an energy efficient incandescent light bulb - the eCandescent TM, which has energy savings up to 70%.
The Company plans to aggressively pursue large retail outlets such as Walmart, Home Depot, Lowes, government facilities, school districts and hotels. The Company believes that the extended life will have large demand in both consumer and commercial marketplaces.
Lisa Landau, a VP of AV1 Group and the Chairman of ILC previously said, "A standard incandescent light bulb with a pre-determined life of 1300 hours, (approximately 54 days), with the PowerDisc TM can burn for over 130,000 hours or 24 hours per day, 7 days per week for 14 years. Imagine the life extension if the bulb was used over normal lighting circumstances."
Bryen Beglinger, CEO of AV1 Group stated, "Purchasing only 49% at this time allows for Intelligent Lighting Corp. to continue to be qualified for governmental and tax incentives/preferences, which could help greatly as we ramp up the production and marketing/sales of the products that will utilize these amazing technologies. The goal is by ILC maintaining majority ownership of the subsidiary (51%), they will be able to take advantage of the huge benefits given to disadvantaged entities in the government sector and being granted governmental contracts."
For more information, please visit our corporate site: www.av1group.com
Visit us on Facebook: https://www.facebook.com/AVOPGroup/
Visit us on Twitter: # https://twitter.com/av1_group
Visit us at Investors Hangout: https://m.investorshangout.com/AV1-Group-Inc-AVOP-58751/
Investors Hangout is the only authorized Investors blog page for AV1 Group, Inc.
About AV1 Group, Inc.:
AV1 Group, Inc. is a publicly traded investment and holding company established to identify, secure, and monetize emerging growth companies, technologies and ecommerce businesses positioned for exponential growth. The Company seeks to discover inspired entrepreneurs with revolutionary concepts which can make a substantial footprint in markets that the Company believes to have considerable growth potential. AV1 Group, Inc.'s comprehensive business model also includes a division which delivers internally created projects that are poised for revenue generation, and a platform enabling the Company to develop embryonic stage subsidiaries under one umbrella, bringing a spectrum of backgrounds to the table, thus providing a significant resource of experience, knowledge and expertise to every venture. AV1 Group, Inc. explores every opportunity to help each sector exceed their revenue goals while building close, active working relationships; preparing each respective division to be a robust competitor in their chosen markets. For more information, visit: http://www.av1group.com/
About Intelligent Lighting Corp:
Intelligent Lighting Corp is a California based technology company committed to manufacturing and marketing of state-of-the-art, energy-saving products and technologies. Intelligent Lighting Corp, has put together a dynamic team to aggressively pursue every distributor from large retail outlets such as Walmart, Home Depot, Lowes, government facilities, school districts, hotels to your neighborhood hardware store. We have a patented energy efficient, long lasting, truly green incandescent light bulb. For more information, visit: http://powerdisc.com
*All laboratory studies are based on the decades old, industry standard- the General Electric formula (GE TP-1100R 2 5/84), which is "Expected life = Rated life times the ratio of design voltage divided by applied voltage - the ratio being raised to the 13.1 power." Simply put, when an incandescent bulb is operated at other than its design voltage, its life expectancy will be changed.
This press release was written by PubCoPR.com - For more information: info@PubCoPR.com
Safe Harbor Act: Forward-Looking Statements are included within the meaning of Section 27A of the Securities Act of 1933, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements regarding our expected future financial position, results of operations, cash flows, financing plans, business strategy, products and services, competitive positions, growth opportunities, plans and objectives of management for future operations, including words such as "anticipate," "if," "believe," "plan," "estimate," "expect," "intend," "may," "could," "should," "will," and other similar expressions are forward-looking statements and involve risks, uncertainties and contingencies, many of which are beyond our control, which may cause actual results, performance, or achievements to differ materially from anticipated results, performance, or achievements. We are under no obligation to (and expressly disclaim any such obligation to) update or alter our forward-looking statements, whether as a result of new information, future events or otherwise.
Brokers and Analysts
Chesapeake Group
+410-825-3930
info@chesapeakegp.com
SOURCE AV1 Group, Inc.
News Provided by QuoteMedia.
LA JOLLA, California, August 15, 2017 /PRNewswire/ --
AV1 Group, Inc. (OTC Pink: AVOP), a publicly-traded investment and holding company, today announced further details of its previous purchase of 49% of Intelligent Lighting Corp. ("ILC"
, a privately-held company that owns a disruptive technology that can be used to produce a whole new generation of light bulbs for commercial and consumers use. The compensation for the acquisition was made with a combination of cash and stock. If revenue benchmarks are met, there will be additional common stock issued to ILC. The agreement also contains provisions where AVOP will conduct fundraising initiatives going forward as needed to bring the technology to market.
ILC's proprietary technology, PowerDisc TM, includes a game-changing lighting technology with a lightbulb that could last 14 years; Burning 24/7 while reducing energy consumption up to 42%. The second product is an energy efficient incandescent light bulb - the eCandescent TM, which has energy savings up to 70%.
The Company plans to aggressively pursue large retail outlets such as Walmart, Home Depot, Lowes, government facilities, school districts and hotels. The Company believes that the extended life will have large demand in both consumer and commercial marketplaces.
Lisa Landau, a VP of AV1 Group and the Chairman of ILC previously said, "A standard incandescent light bulb with a pre-determined life of 1300 hours, (approximately 54 days), with the PowerDisc TM can burn for over 130,000 hours or 24 hours per day, 7 days per week for 14 years. Imagine the life extension if the bulb was used over normal lighting circumstances."
Bryen Beglinger, CEO of AV1 Group stated, "Purchasing only 49% at this time allows for Intelligent Lighting Corp. to continue to be qualified for governmental and tax incentives/preferences, which could help greatly as we ramp up the production and marketing/sales of the products that will utilize these amazing technologies. The goal is by ILC maintaining majority ownership of the subsidiary (51%), they will be able to take advantage of the huge benefits given to disadvantaged entities in the government sector and being granted governmental contracts."
For more information, please visit our corporate site: www.av1group.com
Visit us on Facebook: https://www.facebook.com/AVOPGroup/
Visit us on Twitter: # https://twitter.com/av1_group
Visit us at Investors Hangout: https://m.investorshangout.com/AV1-Group-Inc-AVOP-58751/
Investors Hangout is the only authorized Investors blog page for AV1 Group, Inc.
About AV1 Group, Inc.:
AV1 Group, Inc. is a publicly traded investment and holding company established to identify, secure, and monetize emerging growth companies, technologies and ecommerce businesses positioned for exponential growth. The Company seeks to discover inspired entrepreneurs with revolutionary concepts which can make a substantial footprint in markets that the Company believes to have considerable growth potential. AV1 Group, Inc.'s comprehensive business model also includes a division which delivers internally created projects that are poised for revenue generation, and a platform enabling the Company to develop embryonic stage subsidiaries under one umbrella, bringing a spectrum of backgrounds to the table, thus providing a significant resource of experience, knowledge and expertise to every venture. AV1 Group, Inc. explores every opportunity to help each sector exceed their revenue goals while building close, active working relationships; preparing each respective division to be a robust competitor in their chosen markets. For more information, visit: http://www.av1group.com/
About Intelligent Lighting Corp:
Intelligent Lighting Corp is a California based technology company committed to manufacturing and marketing of state-of-the-art, energy-saving products and technologies. Intelligent Lighting Corp, has put together a dynamic team to aggressively pursue every distributor from large retail outlets such as Walmart, Home Depot, Lowes, government facilities, school districts, hotels to your neighborhood hardware store. We have a patented energy efficient, long lasting, truly green incandescent light bulb. For more information, visit: http://powerdisc.com
*All laboratory studies are based on the decades old, industry standard- the General Electric formula (GE TP-1100R 2 5/84), which is "Expected life = Rated life times the ratio of design voltage divided by applied voltage - the ratio being raised to the 13.1 power." Simply put, when an incandescent bulb is operated at other than its design voltage, its life expectancy will be changed.
This press release was written by PubCoPR.com - For more information: info@PubCoPR.com
Safe Harbor Act: Forward-Looking Statements are included within the meaning of Section 27A of the Securities Act of 1933, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements regarding our expected future financial position, results of operations, cash flows, financing plans, business strategy, products and services, competitive positions, growth opportunities, plans and objectives of management for future operations, including words such as "anticipate," "if," "believe," "plan," "estimate," "expect," "intend," "may," "could," "should," "will," and other similar expressions are forward-looking statements and involve risks, uncertainties and contingencies, many of which are beyond our control, which may cause actual results, performance, or achievements to differ materially from anticipated results, performance, or achievements. We are under no obligation to (and expressly disclaim any such obligation to) update or alter our forward-looking statements, whether as a result of new information, future events or otherwise.
Brokers and Analysts
Chesapeake Group
+410-825-3930
info@chesapeakegp.com
SOURCE AV1 Group, Inc.
News Provided by QuoteMedia.
