GiveMePower Corp. (OTC: GMPW) is pleased to announce that the OTC Markets Group, Inc. ("OTC Markets") has removed the Caveat Emptor (CE) designation from the OTC Markets website that had been previously associated with the company's ticker symbol.
The CE designation was applied to the ticker symbol under previous management, and the company has been working diligently to have the CE designation removed, since acquiring the ticker in December, 2019. The removal indicates that the Company demonstrated to OTC Markets that there is no public interest concern. As a result, there is now an active market without restrictions on the purchase or sale of the Company's securities.
"The Caveat Emptor removal is a direct result the Company's commitment to our shareholders and the diligence of our team in working with the OTC Markets Surveillance Team," said Frank Igwealor, GiveMePower CEO. "The removal of the Caveat Emptor allows the Company to focus intently on executing the business plan outlined in the Company’s SEC-effective S-1. The Company will continue to be SEC-filing and compliant, PCAOB audited, and transparent and communicative with the market. GiveMePower can now move forward to build a successful business and increase shareholder value."
GiveMePower Corp. (OTC: GMPW) will build its business on two key fronts, as detailed in its SEC-effective S-1:
- AI and ML-PoweredFinancial Platform (focusing on Lending and Insurance Underwriting Platform). Once it has raised sufficient capital (from a proposed $10 million offering), the Company intends to launch Its cloud-based machine learning and artificial intelligence lending platform. The Company believes that a Machine-Learning (ML) and Artificial intelligence (AI) (together referred to as “MLAI”) lending and insurance underwriting platform would enable a superior loan product with improved economics that can be shared between consumers and lenders. The proposed platform would aggregate consumer demand for high-quality loans and connect it to a soon-to-be-built network of MLAI-enabled investors, lenders, and bank partners. Consumers on the MLAI platform would benefit from a highly automated, efficient, all-digital experience. Prospective bank partners would benefit from access to new customers, lower fraud and loss rates, and increased automation throughout the lending process. Credit is a cornerstone of the U.S. economy, and access to affordable credit is central to unlocking upward mobility and opportunity. GMPW intends to leverage the power of AI to quantify the true risk of a loan more accurately. The MLAI models would be built to continuously self-upgrade, train and refine many critical components of lending risk analytics and decision-making on a real-time basis. The Company intends to build discrete MLAI models that target fee optimization, income fraud, acquisition targeting, loan stacking, prepayment prediction, identity fraud and time-delimited default prediction. These models would be designed to incorporate multiple lending underwriting variables and utilize training dataset that accounts for varieties of repayment events. It is also anticipated that the network effects generated by constantly improving MLAI models would provide a significant competitive advantage—and more training data would lead to higher approval rates and lower interest rates at the same loss rate.
- BlackBank – Proposed Federally Licensed One-Four Branch Bank. Jurisdictionally, GMPW intends to acquire and manage one-four branch banks in each of its relevant jurisdictional domains. Owning/controlling a bank or banks with branches across every urban/black neighborhood in the United States is not the goal. The Company would be content to own a one-four branch bank in every relevant jurisdiction to initiate/conduct MLAI enabled and blockchain-powered digitized banking that is accessible to all black persons and businesses across the United States. GMPW intends to start with the acquisition of a one-four branch bank, whose operation and back-office would be migrated to a Blockchain-powered platform to digitize its entire banking operation to cover and serve all black persons in the United States. The Company believes that blockchain technology is the best-suited platform to implement, run and manage a national digitized banking service to reach most black persons living in the United States.
Forward-Looking Statements:
This press release includes forward-looking statements concerning the future performance of our business, its operations and its financial performance and condition. These forward-looking statements include, among others, statements with respect to our objectives and strategies to achieve those objectives, as well as statements with respect to our beliefs, plans, expectations, anticipations, estimates or intentions. These forward-looking statements are based on our current expectations. We caution that all forward-looking information is inherently uncertain and actual results may differ materially from the assumptions, estimates or expectations reflected or contained in the forward-looking information, and that actual future performance will be affected by a number of factors, including economic conditions, technological change, regulatory change and competitive factors, many of which are beyond our control. Therefore, future events and results may vary significantly from what we currently foresee. We are under no obligation (and we expressly disclaim any such obligation) to update or alter the forward-looking statements, whether as a result of new information, future events or otherwise.
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