Neon Bloom Finalizes Terms to Acquire Advanced Executive Sales, LLC

Acquisition and expansion into payment processing expected to close before May 31, 2024

NEWPORT BEACH, Calif., May 21, 2024 (GLOBE NEWSWIRE) -- Neon Bloom, Inc. (OTC PINK: NBCO), announced today that it has finalized the terms of its acquisition of Advanced Executive Sales, LLC (AES), a leading financial services company specializing in electronic payment and card processing for all types of businesses. The two companies expect to close on the acquisition by May 31, 2024.

After months of due diligence and negotiations between Neon Bloom and Mr. Greg Bauer, the Managing Member of AES, the two parties finally came to a mutual agreement as to the structure and consideration for the acquisition. As part of the final agreement, Neon Bloom will be appointing Mr. Bauer as a member of the Neon Bloom Board of Directors and an executive officer of both Neon Bloom and AES.

“This is the culmination of months of development of a new strategic business plan for us,” said Fred Luke, Neon Bloom’s Secretary and Director, “one that I believe will enable us to provide our shareholders with what they have been waiting for, strong revenue with earnings, and great growth potential. And there is potential constructive interaction with our current subsidiary, Bazelet Health Systems, Inc. (Bazelet) in its efforts to grow and provide its customers with the added feature of secure payment, e-Commerce and Point of Sale solutions.”

AES is a rapidly growing, leading provider of e-Commerce and Point of Sale transaction solutions, which enable it to provide secure interactions between merchants and customers for a wide range of industries with its payment processing platform; it is a certified partner with YNLO Ultratech, Payshield and has over 100 e-Commerce sites currently under contract, with plans for near-term expansion with the acquisition of several other FinTech firms with payment processing technology which will complement that currently utilized by AES.

For the year ended December 31, 2023, AES had $23,235,048 in gross revenue with a net profit of $1,655,613; for the first quarter of 2024 AES posted gross revenue of $5,521,430 with a net profit of $395,408.

Mr. Luke went on to say, “This transaction, as envisioned, is expected to immediately begin generating positive cash flow, which will help us with our own ongoing administrative operations and, hopefully, generate enough working capital to help with the additional acquisitions that Mr. Bauer has been negotiating with for some time now.”