IRVINE, CA (Prism Mediawire – October 18, 2023) UA Multimedia, Inc. (OTC: UAMM), a technology solution provider specializing in cybersecurity, artificial intelligence (AI) and information technology outsourcing, is pleased to present a business update highlighting recent developments and the upcoming initiatives for the near term.
Since acquiring a 12% stake in Pascal Software in Q2, Pascal has entered into a number of service contracts totaling $3.5 million in annual recurring revenue with various customers across Asia.
Pascal’s current focus is on the logistics and financial industries, where it leverages machine learning, knowledge graphs, and natural language processing to address complex problems, drive growth, and enhance operational efficiency.
Pascal has also recently initiated a proof-of-concept project with the March of Dimes. Depending on the outcome, this could lead to a third vertical for the company: AI for healthcare.
UA is actively cultivating relationships with leading technology firms or potential acquisition candidates in Vietnam. Recently, the Company finalized a partnership agreement with SKG Technology Joint Stock Company, with offices in Ho Chi Minh City and Tokyo. This collaboration empowers UA to tap into SKG’s extensive software development expertise, bolstering UA’s pursuit of opportunities in the U.S.
The Company is also actively forging partnerships with other local technology firms to provide AI-related solutions and general software development outsourcing services. UA is presently collaborating with a partner to secure bids for AI solutions in the healthcare and energy sectors.
AI for Healthcare
For the remaining of Q4, the Company is evaluating an AI-enabled telehealth platform where patients can consult with a bot on various health matters, receive remote monitoring, and have their data tracked and flagged for attention using a machine learning algorithm. If the initial test site yields favorable results, UA will consider offering the solution to medical clinics nationwide.
UA Product Development
The Company is actively exploring the development of innovative applications that harness OpenAI’s multimodal capabilities. These groundbreaking applications will enable UA to seamlessly integrate and analyze a wide range of data types, including text, images, and more. By leveraging OpenAI’s advanced AI technology, the Company aim to create a new generation of products and services that provide enhanced functionality and improved user experiences.
UA’s ongoing efforts will continue to focus on expanding its customer base within the U.S., with a strategic emphasis on data analytics and AI projects. Additionally, the Company is actively exploring potential acquisition candidates that offer synergies to expand beyond its current technology focus. Management is in various phases of discussion and due diligence and will provide more information as the transactions become more mature.
“We are pleased with the return from our minority stake in Pascal so far, based on the company’s growth,” commented Huan Nguyen, Chief Executive Officer. “We are excited about the future potential of our first minor acquisition, as well as our current endeavors in information technology, and we anticipate further expansion through larger acquisitions,” added Nguyen.
About UA Multimedia, Inc.
UA Multimedia, Inc. is a technology solution provider that specializes in cybersecurity, artificial intelligence, and IT outsourcing. It also operates as a holding company, actively pursuing the acquisition of domestic and foreign entities within the same sector.
Corporate Website: https://www.uammedia.com
About Pascal Studio:
Pascal develops and manages a range of data management and software solutions for customers globally. With teams based across Vietnam, Singapore, and India, the company’s core strengths lie in graph database technologies, applied artificial intelligence and machine learning. Pascal has established a reputation for providing practical solutions that transform complex, underutilized datasets into actionable insights for its clients.
Corporate Website: https://pascal.studio
About SKG Technology JSC
Based in Vietnam, SKG is a technology company that specializes in providing a wide range of software development services. Its offerings encompass product development, software development, research and development, outsourcing, quality assurance testing, and maintenance. The company serves various industries, including finance, healthcare, education, information security, and the Internet of Things.
Corporate Website: https://skg.com.vn/
This 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 and Exchange Act of 1934, as amended. These statements reflect the intent, belief, or current expectations of the Company and its management team. However, prospective investors should be aware that not all anticipated events or results may occur. The actual results may differ materially from those projected in the forward-looking statements due to various factors. Accomplishing the described strategy is significantly dependent upon numerous factors, many of which are beyond management’s control. UA Multimedia, Inc. does not undertake any duty nor does it intend to update the results of these forward-looking statements.
UA Multimedia, Inc.