SAN DIEGO, Feb. 27, 2013 /PRNewswire/ -- VOIS, INC. (OTCQB- VOIS) announces that it has entered into a Letter of Intent with Mind Technologies, Inc. (MTEK) to purchase 100% of the assets of MTEK. The Company has agreed to the acquisition in order to secure ownership of all BCI/ thought-controlled technology developed and being developed by the Company.
In exchange for the assets of MTEK, the Company will issue to MTEK shares of its common stock. The number of shares issued to MTEK will be based on an independent valuation to determine the fair market value of the assets purchased. The Company expects to close the transaction no later than March 15, 2013, which is subject to the execution of a definitive purchase agreement by the parties.
On December 18, 2012, the Company entered into a License Agreement with MTEK and secured a non-exclusive license to use and develop MTEK's existing thought-controlled software applications. The Company has since determined it is in the best interest of its stockholders to acquire 100% ownership of these assets, as it continues to develop and improve the technologies.
"We are pleased to reach an agreement with MTEK that will give us 100% ownership of the key software assets for BCI/thought-controlled technology," stated Kerry Driscoll, Chief Executive Officer of the Company. "By owning all hardware and software in this market that have been developed over the past five years, we feel we will have the infrastructure to become a leader in the rapidly growing BCI industry. The Company's development of our mobile EEG headset and the patent process has reached new milestones. We will provide updates through our website in the near future."
Safe Harbor Statement
This release includes forward-looking statements intended to qualify for the safe harbor from liability established by the Private Securities Litigation Reform Act of 1995. These forward-looking statements generally can be identified by phrases such as the Company or its management "believes," "expects," "anticipates," "foresees," "forecasts," "estimates" or other words or phrases of similar import. Similarly, statements herein that describe the Company's business strategy, outlook, objectives, plans, intentions or goals also are forward-looking statements. All such forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from those in forward-looking statements. The forward-looking statements included in this release are made only as of the date of this release, and the Company undertakes no obligation to update the forward-looking statements to reflect subsequent events or circumstances.
SOURCE VOIS, INC.