Tokens.com (TSXV: COIN) has decided it needs exposure to artificial intelligence, announcing late yesterday that it has acquired Simulacra Corp, a company focused on the integration of artificial intelligence and humanoid robots.
Simulacra has reportedly been in the business of producing “realistic silicone humanoid figures” since 1997, primarily for the entertainment and marketing sectors. The firm registered sales of C$21.1 million over the last four years along with a gross profit of C$16.3 million. Financial data was not broken down on a year by year basis by the company.
The company currently operates through three subsidiaries, including Realbotix, which builds AI-enabled robots that move and talk like humans, Anthropomorphic Figure Dynamics, which is focused on governmental and healthcare projects, and Abyss Creations, which makes “companionship-based humanoid figures,” and is behind the RealDoll brand of sex robots – although the company refused to say as much in the press release.
The transaction will also see Matt McMullen, founder and CEO of Simulacra, take on the role of president and director of tokens.com.
Total consideration for Simulacra is to consist of the issuance of 75 million shares, which at yesterdays close are valued at approximately $9.4 million. The issuance is to amount to a 38% stake in Tokens.com, with shares to be escrowed over a 12 to 24 month period. 7.5 million stock options will also be issued. An earn-in of up to 20 million additional shares if certain revenue targets are met.
“While other tech companies are building robots to replace human workers in warehouses, Simulacra’s robotics serve the more immediate use case for AI and robotics: human connection, learning and play. While most AI tools available today are filtered for content and viewpoints, Simulacra’s AI technology enables humans and robots to foster genuine connection through unfiltered, human-like conversation. We see our robots used in homes, hospitals, and even in the c-suite. We even intend on using AI to assist in board governance,” commented Andrew Kiguel, CEO of Tokens.com.
Tokens.com last traded at $0.125 on the TSX Venture.
Information for this briefing was found via Sedar and the companies mentioned. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.
