Neon Bloom Signs Letter of Intent to Acquire Advanced Executive Sales, LLC

Acquisition Expected to Initially Increase Annual Revenues by $20 Million this Year

COLUMBIA, MD / ACCESSWIRE / September 28, 2023 / Neon Bloom, Inc. (OTC PINK:NBCO), announced today that it has signed a Letter of Intent to acquire Advanced Executive Sales, LLC (AES), a leading financial services company specializing in generating transactional revenue for many types of businesses, both in the e-Commerce and Point of Sale space.

AES is a rapidly growing, leading provider which specializes in simple and secure products that bring the customer and participating merchant partners inside the same secure platform to handle real-time transactions and more. It anticipates booking $20 million in 2023 revenue in 2023. AES is a certified partner with YNLO Ultratech and Payshield and actively working with over 100 e-commerce sites.

Today's news follows the announcement a few weeks ago that its subsidiary, Bazelet Health Systems Inc., has recently firmly established itself in the $60B US Organic food and beverage industry in 2024 with the introduction of PECSA Organic, the first Federally legal, patent pending cannabinoid ingredient that is compliant with the FD&C Act.

Neon Bloom Director Fred Luke, commenting on the expansion move into Fintech said, "I have been collaborating with AES and one of its affiliates on projects recently, and the other members of the Neon Bloom Board and management team have been favorably impressed with AES's management, business and year-over-year growth in this rapidly growing space. AES has expanded its focus on e-Commerce and Point of Sale transaction solutions, which now enables it to provide secure interactions between merchants and customers, payment & Digital Wallet solutions that should be accessible and easy to use by everyone - especially those unable to qualify for traditional credit, credit cards or bank accounts".

Mr. Luke went on to say, "This transaction, as envisioned, is expected to immediately begin bringing in positive cash flow helping us implement operational infrastructure, provide working capital for our subsidiaries and to help us complete additional acquisitions we have been studying for some time now."

Under the terms of the Letter of Intent, NBCO intends to acquire all the Membership Interests of AES in a stock-for-membership interest structure utilizing a newly formed wholly owned subsidiary into which AES will be merger and continue to operate as "Advanced Executive Sales Inc.". The two companies intend to complete and close a formal purchase agreement by the end of the current quarter.