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 wellness and today announced that it has entered into an agreement with Vyvo Smart Chain Ltd. and VSC Tech Pte. Ltd. (“VSC Tech”). Through this agreement, Helo has acquired software licenses and private keys with the intention of having its users’ portable data digitally signed, de-identified and stored on the foundation’s decentralized servers for opt-in monetization.
“The Foundation is developing a groundbreaking blockchain-based decentralized health data platform designed to enable 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 device industry. We expect it will allow Helo users to benefit financially from the monetization of their wearable data. This relationship represents a significant step forward in the implementation of our strategic restructuring initiatives announced in September 2022.”
Under the terms of the agreement, which was 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 a Premier Foundation sponsor for 24 months, store Helo customers’ historical and ongoing wellness data and entitle Helo to receive an allocation of VSC coins upon initial issuance by the Foundation. Helo paid a portion of the initial purchase of US$5 million upon signing the agreement, with the remainder to be paid once VSC Tech and the foundation have achieved specific technical milestones.
Helo’s largest shareholder, Fabio Galdi, serves as Helo’s chairman and chief technology officer. He is also a founder, member and managing director of the foundation, and his brother Gabriele Galdi serves as director of VSC Tech. The Foundation will cover Foundation-related expenses of Mr. Galdi, and they will be entitled to receive VSC Coins, in amounts determined by the Foundation in the future, but will not receive a salary from the Foundation or VSC Tech.
About Helo Corp.
Helo Corp. (OTC PINK: HLOC) is a data-driven wellness technology company at the forefront of data-driven wellness. Helo wearables and other devices are built on Helo’s Life Sensing TechnologyTMwhich uses state-of-the-art sensors, improved signal processing and algorithms to collect and process specific bioparameters.
For more information about Helo, see http://www.helocorp.com.
The company’s disclosure statements and unaudited accounts are available at https://www.otcmarkets.com/stock/HLOC/disclosure.
About Foundation and VSC Tech
The foundation is creating the “First Heartbeat Powered Blockchain” by building a HealthFi ecosystem that promotes and rewards positive lifestyle habits through health data monetization. The Foundation is a Singapore public company limited by guarantee. VSC Tech is a private limited company in Singapore, and is a wholly owned subsidiary of the foundation.
For further information on the Foundation and VSC Tech, see vyvo.org.
Forward-looking statements
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 US Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as may, “will”, “expects”, “anticipates”, “future”, “intends”, “plans”, “believes”, “estimates”, potential and similar statements. All statements other than statements of historical fact in this press release are forward-looking statements and involve certain risks and uncertainties that may 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 the company operates, but involve a number of unknown risks and uncertainties. Additional 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 undertakes no obligation to update forward-looking statements to reflect subsequent events or circumstances, or changes in its expectations, except as may be 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 the anticipated results. You are urged to consider these factors carefully when considering the forward-looking statements contained herein, and you are cautioned not to place any reliance on such forward-looking statements, which are qualified in their entirety by these cautionary statements.
Investor contact:
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650-646-2193
SOURCE: Helo Corp.
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