DUBLIN, IRELAND / ACCESSWIRE / January 11, 2023 / Helo Corp. (OTC PINK:HLOC) (“Helo” or the “Company”) is a leading developer of wearable devices at the forefront of data-driven wellbeing and today announced that it has entered into an agreement with Vyvo Smart Chain Ltd. and VSC Tech Pte. Ltd. (“VSC Technology “). Through this agreement, Helo has obtained software licenses and private keys with the intent that its users’ portable data is digitally signed, anonymized, and stored on the Foundation’s decentralized servers for optional monetization.
“The Foundation is developing an innovative blockchain-based decentralized health data platform designed to allow users to control and monetize their personal health data,” said Sean McVeigh, CEO. “We believe our relationship with the Foundation will provide Helo with a unique selling proposition in today’s highly competitive wearable industry. We anticipate that it will enable Helo users to benefit financially from monetizing their wearable data. This relationship represents an important step forward in executing our strategic restructuring initiatives announced in September 2022.”
Under the terms of the agreement, entered into on January 5, 2023, Helo agreed to pay VSC Tech a negotiated fee to license software and provide Helo device private keys. In addition, the Foundation agreed to recognize and promote Helo on the Foundation’s website, vyvo.org, as the primary sponsor of the Foundation for 24 months, stores Helo’s ongoing and historical customer wellness data and grants Helo the rights to receive an allocation of VSC Coins upon initial issuance by the Foundation. Helo paid a portion of its initial $5 million purchase upon signing the agreement, with the remainder due when VSC Tech and the Foundation reach specific technical milestones.
Helo’s largest shareholder, Fabio Galdi, serves as Helo’s Chairman of the Board and CTO. He is also a founder, member and executive director of the Foundation and his brother Gabriele Galdi serves as director of VSC Tech. The Foundation will cover expenses related to the Messrs. Galdi’s Foundation and they will be entitled to receive VSC coins, in amounts to be determined the Foundation in the future, but will not receive salaries from the Foundation or VSC Tech.
About Helo Corp.
Hello Corp. (OTC PINK: HLOC) is a data-driven wellness technology company at the forefront of data-driven wellness. Helo wearables and other devices are based on Helo’s life detection technologyTMwhich uses state-of-the-art sensors, enhanced signal processing, and algorithms to collect and process specific bioparameters.
For more information on Helo, see http://www.helocorp.com.
The Company’s disclosure statements and unaudited financial statements are available at https://www.otcmarkets.com/stock/HLOC/disclosure.
About the Foundation and VSC Tech
The Foundation is creating the “first heartbeat-powered blockchain” by creating a HealthFi ecosystem that promotes and rewards positive lifestyle habits through monetization of health data. The Foundation is a Singapore public company limited by guarantee. VSC Tech is a Singapore private company limited by shares and is a wholly owned subsidiary of the Foundation.
For more information on the Foundation and VSC Tech, see vyvo.org.
This press release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and as defined in the Reform of the US Private Securities Litigation Act of 1995. These forward-looking statements may be identified by terminology such as may, “will,” “expects,” “anticipates,” “future,” “intends,” “plans,” ” believes”, “estimates”, potential statements and the like. All statements other than statements of historical fact in this press release are forward-looking statements and involve certain risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements. These forward-looking statements are based on management’s current expectations, assumptions, estimates and projections about the Company and the industry in which it operates, but involve a number of unknown risks and uncertainties. More information about these and other risks is included in the Company’s filings with the OTC Markets and the Securities and Exchange Commission. The Company does not undertake any obligation to update forward-looking statements to reflect subsequent events or circumstances, or changes in its expectations, except as required by law. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that such expectations will prove to be correct, and actual results may differ materially from anticipated results. You are urged to consider these factors carefully when evaluating any forward-looking statements contained herein and are cautioned not to place undue reliance on such forward-looking statements, which are qualified in their entirety by these cautionary statements.
Contact for investors:
FONT: Hello Corp.
View the source version at accesswire.com: