MIAMI, FL / ACCESSWIRE / June 23, 2022 / American Leisure Holdings, a Portfolio Holding company, is pleased to provide a company update as to the recent ongoing progress of the company.

Earlier this week the company entered into a Letter of Intent (LOI) to acquire a majority Interest in a fully developed and functioning Decentralized Exchange (DEX), complete with a full back office support team. Currently as a mutual NDA is in place, the name of the exchange will not be disclosed until after closing. Mutual terms have already been discussed and agreed upon. Both companies are ready to move forward and expect a smooth quick closing, as management of both companies have a long standing relationship. Once closed AMLH will look to apply to FINRA for a name and symbol change, to better reflect the nature of our business as a Decentralized Finance and Technology company, focused on Blockchain, NFT's, Crypto Currency and Web3 innovations.

In other news, to date AMLH also has a Sports Memorabilia NFT project working with Baller Mixed Reality. Baller Mixed Reality is pioneering the new era of Metaverse Collectibles with Augmented Reality NFTs autographed by legendary athletes and entertainers. Mr. Jonathan Herman, CEO of Baller Mixed reality recently returned from the NFT Expo in New York, (NFT NYC). We will provide an official update shortly on the progress on the NFT front.

The company will also be updating the website to better reflect the direction of the company. In the Meantime the company is very excited to be moving forward with the acquisition of this Decentralized Exchange and the multitude of projects it will include.

According to Cointelegraph a "Decentralized exchanges, also known as DEX's, are peer-to-peer marketplaces where cryptocurrency traders make transactions directly without handing over management of their funds to an intermediary or custodian. These transactions are facilitated through the use of self-executing agreements written in code called smart contracts.

Decentralized exchanges rely on smart contracts to allow traders to execute orders without an intermediary. On the other hand, centralized exchanges are managed by a centralized organization such as a bank that is otherwise involved in financial services looking to make a profit.

There are three main types of decentralized exchanges: Automated market makers, Order books DEXs and DEX aggregators. All of them allow users to trade directly with each other through their smart contracts."

Further explanation of Decentralized exchanges can be found in the link below

https://cointelegraph.com/defi-101/what-are-decentralized-exchanges-and-how-do-dexs-work

Adrian Patasar, CEO of American Leisure had the following to say : " First, I would like to thank the many shareholders of AMLH, for their continued loyalty and support. As we move forward and execute our expansion into the Web3 space and beyond. We are staying the course, to bring on board new and innovative talents and projects. I look forward to closing The Exchange purchase and look to bring on board new projects, increasing shareholder value"

ABOUT AMERICAN LEISURE INC.

American Leisure Holdings Inc. (AMLH) is a Tech-forward Portfolio company that has recently updated its status with the SEC and OTC Markets. AMLH looks to bring accretive shareholder value by participating in high growth, revenue-generating ventures and acquiring cutting-edge technologies in Web 3.0, Blockchain, NFTs and the Metaverse space.

FORWARD-LOOKING STATEMENTS

This press release contains forward-looking statements within the meaning of the federal securities laws. All statements other than statements of historical fact included in this presentation are forward-looking statements. These statements relate to analyses and other information, which are based on forecasts of future results and estimates of amounts not yet determinable. These statements also relate to our future prospects, developments, and business strategies. These forward-looking statements may be identified by the use of terms and phrases such as 'anticipate,' 'believe,' 'could,' 'estimate,' 'expect,' 'intend,' 'may,' 'plan,' 'predict,' 'project,' 'target,' 'will' and similar terms and phrases, including references to assumptions. However, these words are not the exclusive means of identifying such statements. Although we believe that our plans, intentions, and expectations reflected in or suggested by such forward-looking statements are reasonable, we cannot assure you that we will achieve those plans, intentions, or expectations. All forward-looking statements are subject to risks and uncertainties that may cause actual results to differ materially from those that we expected or may prove unachievable.

The Company's business and prospects must be considered in light of the risks, expenses, and difficulties frequently encountered by companies working with new and rapidly evolving technologies such as blockchain. These risks include, but are not limited to, an inability to create a viable product and risks related to the issuance of tokens. Furthermore, the Company's business contemplates participation in a highly regulated space of consumer finance and associated customer data and therefore may face regulatory and execution challenges, particularly in light of the novelty of the concept. The Company cannot assure you that it will succeed in addressing these risks, and our failure to do so could have a material adverse effect on our business, financial condition, results of operations, and prospects. There can be no assurance as to whether or when (if ever) the Company will achieve profitability or liquidity. The forward-looking statements included in this press release are made only as of the date hereof. We undertake no obligation to publicly update or revise any forward-looking statement as a result of new information, future events, or otherwise, except as otherwise.

SOURCE: American Leisure Holdings, Inc.