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OTC Markets:WPFH

WPF Holdings Completes Acquisition of Vezbi Super App

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LOS ANGELES, CA, April 27, 2023 (GLOBE NEWSWIRE) — via NewMediaWire – WPF Holdings, Inc. (OTC PINK: WPFH), announces today that it has closed on the acquisition of a controlling interest in the outstanding shares of Vezbi, Inc (“Vezbi”), which has become a controlled subsidiary of WPFH. Under the terms of the acquisition agreement signed in January 2023, six shareholders of Vezbi holding a total of 23,506,761 common shares of Vezbi representing 87 percent of the total Vezbi shares outstanding, proposed to acquire control of WPFH by the exchange of 10 shares of WPFH common stock for each common share of Vezbi, or a total of for 234,067,610 new WPFH common shares. WPFH also committed to extend the same acquisition offer to the remaining common shareholders of Vezbi, holding a total of 3,513,034 shares, or 13 percent of the outstanding Vezbi shares, at the same exchange ratio, with the goal to acquire all of the equity of Vezbi. Under the existing capital structure of WPFH, voting control of WPFH remains with the Series A Preferred stock, which carries 51 percent of the total vote of all classes of stock, and the control of which has not changed.  The WPFH common shares issued to the Vezbi control shareholders were issued as restricted, unregistered shares in a private transaction.

The transaction is expected to be treated as a reverse merger for accounting purposes,  although Vezbi will operate as a controlled subsidiary of WPFH for the near future. Additional new directors and officers are expected to be appointed for WPFH and the corporate name and trading symbol of WPF Holdings, Inc. also may be changed in the future.

WPFH expects to engage a PCAOB audit firm to audit the combined books or WPFH and Vezbi in order to file a Form 10 registration for the common shares of WPFH with the US Securities and Exchange Commission in anticipation of WPFH’s registration of its common shares on a national exchange as soon as possible.The Super App concept is gaining traction among U.S. consumers, with a growing number expressing interest in accessing multiple services through a single app. According to a recent PYMNTS.com study, 72% of U.S. consumers are interested in using a Super App that provides a range of services such as shopping, banking, and social media, among others (PYMNTS.com, Super App Shift, July 2022).

The potential economic impact of Super Apps on the U.S. economy is significant. Research suggests that a successful Super App could generate over $3 trillion in value over the next decade (PYMNTS.com, The Super App Opportunity: Assessing The $3 Trillion Prize). The integration of multiple services into a single app has the potential to enhance consumer convenience and drive greater engagement, leading to increased sales for businesses and ultimately, higher economic growth.

About Vezbi

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Vezbi is a community-driven Super App designed to organize and consolidate all facets of life in one centralized application. What makes Vezbi so unique is its commitment to no algorithms, no anonymity, and no data selling. As accountability is the emphasis of the app, Vezbi believes that it is the first true Super App in the United States, and will become a platform which will minimize fake reviews, fake news and online bullying.  

Safe Harbor Statement

This news release contains forward-looking statements as defined by the Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements concerning plans, objectives, goals, strategies, future events or performance, and underlying assumptions and other statements that are other than statements of historical facts. These statements are subject to uncertainties and risks including, but not limited to, product and service demand and acceptance, changes in technology, economic conditions, the impact of competition pricing, government regulation, and other risks described in statements filed from time to time with the Securities and Exchange Commission. All such forward-looking statements whether written or oral, and whether made by or on behalf of the Company, are expressly qualified by the cautionary statements that may accompany the forward-looking statements. In addition, the Company disclaims any obligation to update any forward-looking statements to reflect events or circumstances after the date hereof.

CONTACT
Vezbi, Inc
Investor Relations Contact
[email protected]

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OTC Markets:WPFH

WPF Holdings Announces Closing of Telehealth Company Acquisition

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MELBOURNE, FL, Feb. 21, 2024 (GLOBE NEWSWIRE) — via NewMediaWire – WPF Holdings, Inc (OTC Pink WPFH) today announces the closing of the acquisition of Virtual Health Holdings, Inc., a telemedicine group of companies with 13 years of operations and with a new subscription model, consumer telemedicine offering under the name MyGuardianDoc.   

Under the terms of the acquisition, WPFH acquired 100 percent of the stock of VHHI from Solei Liquidation Trust, a trust established in September 2022 to facilitate and complete the liquidation of CareClix Holdings, Inc., which was dissolved in September 2022.  The consideration for the VHHI acquisition was 7,000,000 shares of restricted common stock of WPFH, with a reserve of 4,000,000 additional shares to be issued if certain performance milestones are met within the next two years.  The 7,000,000 consideration shares to be issued by WPFH will be issued to the beneficiaries of the Solei Liquidation Trust in a private offering in electronic form and will be restricted shares as a result of SEC Rule 145. The beneficiaries of that Trust are all of the former shareholders of record of CareClix Holdings, Inc. on December 31, 2021, when it initially adopted the plan of corporate liquidation.  Included in the beneficiaries of the Solei Liquidation Trust are approximately 34,750,000 shares held in street name, representing 1,045,933 shares of WPFH. WPFH is working with the Depository Trust Company to facilitate the registration of the WPFH consideration shares in the respective accounts of the former CareClix Holdings, Inc. street name shareholders.

VHHI is the parent holding company of CareClix, Inc., CareClix Services, Inc., CareClix RPM, Inc. and MyCareClix, Inc., d/b/a MyGuardianDoc, which all operate in the telehealth medicine markets worldwide. VHHI will remain as a holding company under WPFH and will manage the telehealth operations acquired in the transactions as well as any new healthcare related acquisitions by WPFH. Chales Scott, CEO of VHHI, will remain as Chairman and CEO of VHHI and also join the Board of Directors of WPFH. 
                                                                                                        
Market projections for the new MyGuardianDoc model, done by an independent market analysis company, predicts not less than 1 million new subscribers to that service within the next 12 months.  Annualized revenues derived from 1 million subscribers to this program alone would exceed $300 million. 

According to Charles Scott: “In the dynamic realm of innovation, this fusion of Vezbi, the pioneering first US Super App, with the CareClix virtual medicine group, and the innovative MyGuardianDoc consumer subscription program, showcases powerful new market synergies. The collective impact of these new technologies is undeniable, ushering in a new era where healthcare is elevated, and life is made easier for every Vezbi Super App user and MyGuardianDoc subscriber. This collaborative effort, made tangible by the visionary zeal and business acumen of the respective WPFH and VHHI leadership teams, marks a significant milestone, fortifying our collective dedication to making a positive and transformative impact on the health, well-being, and everyday life of people worldwide, and boosting shareholders’ value.”

Safe Harbor Statement:
This news release contains forward-looking statements as defined by the Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements concerning plans, objectives, goals, strategies, future events or performance, and underlying assumptions and other statements that are other than statements of historical facts. These statements are subject to uncertainties and risks including, but not limited to, product and service demand and acceptance, changes in technology, economic conditions, the impact of competition pricing, government regulation, and other risks described in statements filed from time to time with the Securities and Exchange Commission. All such forward-looking statements, whether written or oral, and whether made by or on behalf of the Company, are expressly qualified by the cautionary statements that may accompany the forward-looking statements. In addition, the Company disclaims any obligation to update any forward-looking statements to reflect events or circumstances after the date hereof.

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CONTACT:
WPF Holdings Inc 
Investor Relations Contact
[email protected]

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OTC Markets:WPFH

Vezbi Super App Launches Tech Lab With Key Restaurant & Retail Acquisitions

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LOS ANGELES, CA, Oct. 05, 2023 (GLOBE NEWSWIRE) — via NewMediaWire — WPF Holdings, Inc. (OTC PINK: WPFH), announces that it has completed the acquisition of the ‘KPOP 1004’ retail chain and ‘Distrito Catorce’ restaurant and bar. Both acquisitions will become ground zero for testing new Vezbi technology and will give Vezbi complete control over active, live businesses with the opportunity to develop, test and perfect its latest features, programs and offerings. Both businesses are going concerns with an active customer base. Combined they will add approximately $3M in gross revenues to WPFH’s consolidated financials.

Initial plans for the retail Tech Lab include the development of sales and ordering kiosks, more integrated rewards and coupons, Vezbi Pay POS cash loading, and Andale Pay (Vezbi’s international remittance service to over 300,000 locations throughout Latin America). Initial plans for the restaurant Tech Lab include reservations, table management, POS integrations, and parking & valet technology.  

Kimco Industries, Inc (DBA ‘KPOP 1004’) was acquired for $5,775 ,000 in share value of WPFH common stock and is the largest K-Pop retailer in the United States (by square footage) with stores located at Ontario Mills Mall (CA), San Francisco Premium Outlet (CA), and Las Vegas South Premium Outlets (NV).  Distrito Boyle Heights (DBA ‘Distrito Catorce’) was acquired for $2,850,000 in share value of WPFH common stock and is located in the Boyle Heights neighborhood of Los Angeles, CA.

About Vezbi
Vezbi is a community-driven Super App designed to organize and consolidate all facets of life in one centralized application. What makes Vezbi so unique is its commitment to no bossy algorithms telling you what to look at, no anonymity, and no data selling. As accountability is the emphasis of the App, Vezbi believes that it is the first true Super App in the United States and will become a platform which will minimize fake reviews, fake news and online bullying. 

Safe Harbor Statement:
This news release contains forward-looking statements as defined by the Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements concerning plans, objectives, goals, strategies, future events or performance, and underlying assumptions and other statements that are other than statements of historical facts. These statements are subject to uncertainties and risks including, but not limited to, product and service demand and acceptance, changes in technology, economic conditions, the impact of competition pricing, government regulation, and other risks described in statements filed from time to time with the Securities and Exchange Commission. All such forward-looking statements, whether written or oral, and whether made by or on behalf of the Company, are expressly qualified by the cautionary statements that may accompany the forward-looking statements. In addition, the Company disclaims any obligation to update any forward-looking statements to reflect events or circumstances after the date hereof.

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CONTACT
Vezbi, Inc
Investor Relations Contact
[email protected]

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OTC Markets:WPFH

Vezbi Super App to Integrate WPFH Acquisition of International Telemedicine Company

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LOS ANGELES, CA, Oct. 04, 2023 (GLOBE NEWSWIRE) — via NewMediaWire – WPF Holdings, Inc. (OTC PINK:  WPFH), announces that it has signed a definitive agreement to acquire Virtual Health Holdings, Inc. (VHHI) a Florida corporation which is the parent holding company of the CareClix™ group of telemedicine companies. The acquisition will be a stock for stock exchange and WPFH will issue 6 million unregistered common shares for all of the outstanding common shares of VHHI. In addition to the stock consideration, WPFH has committed to providing working capital monthly for the CareClix companies over the next nine months, commencing at closing. An additional 4 million shares of WPFH may be issued as part of the acquisition of control from the former control block owner if certain performance standards are met over the next two years. Closing is expected by October 15, 2023.

CareClix Anywhere™ is a full spectrum virtual healthcare product, designed by doctors for doctors, for individuals to address their diverse healthcare needs. It is a product that addresses episodic issues, as well as comorbidities and co- conditional needs of the individual. The CareClix companies have gained momentum internationally through a unique international sales force and strategic relationships. CareClix also utilizes an internal sales team, an independent sales team and distribution channels such as system integrators, healthcare providers, IT companies, and benefits administrators, to reach a growing number of countries and all 50 US states. For over 10 years, VHHI has been operating and is currently in all US states and 37 other countries, providing virtual medicine services to people of all cultures, races, and genders. CareClix medical services are trusted by Fortune 500 companies and their employees as well as sole healthcare providers.

According to Charles O. Scott, VHHI’s CEO, “Our CareClix group of companies have a proven record within the global growth of virtual healthcare delivery. The companies are currently uniquely positioned to deliver high quality medical services worldwide by simply leveraging the technological and operational infrastructure we have developed over the past decade. CareClix’s dedicated core team has the knowledge and many years of experience in delivering high quality health care on a continuum of services patients require to satisfy their healthcare and wellness needs. Joining forces with the Vezbi Super App at this time particularly, is an ideal step. WPFH’s commitment to assure adequate funding coupled with access to their exceptional management and marketing talent exponentially raises the CareClix group of companies’ success potential across all current verticals, but especially the direct to consumer virtual healthcare market. This is currently an explosive market that several mega US on-line and big-box retailers have recently entered, according to news reports. I am confident the synergies and broad support WPHF brings to CareClix can result in many new; satisfied customers, which translates into growth of shareholder value.”

The acquisition of VHHI and its telemedicine operations is the first step in the previously announced (See Amended Quarterly Disclosure Statement for quarter ended June 30, 2023, as filed with OTC Markets) plan to launch the Vezbi Super App into the healthcare industry. WPF Holdings plans to integrate these telemedicine services into the Vezbi Super App, making it possible to schedule, pay and communicate with doctors. This will be a monthly or annual subscription service that will give consumers direct access to virtual healthcare which an independent marketing company projects will result in at least one million new subscribers within the next twelve months.

About Vezbi

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Vezbi is a community-driven Super App designed to organize and consolidate all facets of life in one centralized application. What makes Vezbi so unique is its commitment to no bossy algorithms telling you what to look at, no anonymity, and no data selling. As accountability is the emphasis of the App, Vezbi believes that it is the first true Super App in the United States and will become a platform which will minimize fake reviews, fake news and online bullying. 

Safe Harbor Statement:

This news release contains forward-looking statements as defined by the Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements concerning plans, objectives, goals, strategies, future events or performance, and underlying assumptions and other statements that are other than statements of historical facts. These statements are subject to uncertainties and risks including, but not limited to, product and service demand and acceptance, changes in technology, economic conditions, the impact of competition pricing, government regulation, and other risks described in statements filed from time to time with the Securities and Exchange Commission. All such forward-looking statements, whether written or oral, and whether made by or on behalf of the Company, are expressly qualified by the cautionary statements that may accompany the forward-looking statements. In addition, the Company disclaims any obligation to update any forward-looking statements to reflect events or circumstances after the date hereof.

CONTACT
Vezbi, Inc
Investor Relations Contact
[email protected]

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