AIBotics Closes Jamaica Asset Deal With Up to $3 Million in Stock Awards

AIBotics, Inc. closed a Jamaica asset purchase that adds NovaCore Labs mapping and drone equipment to its operations, with up to $3 million in additional preferred shares tied to revenue over four years. The Oct. 14 closing gave PlayJamaica Limited 22,500 AIBotics Series B preferred shares with an aggregate stated value of $225,000. PlayJamaica can receive four further stock awards of $750,000 each as cumulative gross revenue reaches $500,000, $1.5 million, $3 million and $5 million within four years of closing. Each threshold triggers a separate award; all four are needed for the full $3 million.

Source: TokenPost