Innovative MedTech Makes Strategic Shift in Business Direction to the AI Sports and Entertainment Industry
BLUE ISLAND, IL - June 2, 2025 (NEWMEDIAWIRE) - Innovative MedTech, Inc. (the "Company") (OTC: IMTH), a provider of health and wellness services, today announced that it has entered into an agreement to acquire certain assets of Ticketbash, a ticket servicing company for live events. Ticketbash had 2024 revenues of approximately $7.6 Million Dollars (unaudited) and has recently developed proprietary AI software that is expected to bring much-needed transparency and cost efficiency to the ticket industry.
“This asset acquisition is very exciting for the Company, as it marks a bold and strategic move into the flourishing sports, entertainment and media sectors. In connection with this asset acquisition, we are reviewing several attractive options for our healthcare businesses, including a sale of our SarahCare subsidiaries and a potential spin-off of our Oral Thrush product. Although we strongly believe in these businesses, they do not fit with our strategic shift into the AI sports and entertainment platforms and the amazing growth opportunities we are targeting therein,” said Michael Friedman, CEO of Innovative MedTech.
He continued, “Acquiring Ticketbash should open a whole host of new possibilities for us, as we gain traction with Ticketbash’s proprietary AI platform - a scalable technology already transforming ticketing operations. The move should position the Company at the forefront of applying advanced AI to build new business models and reach new markets faster than ever before. We, with Ticketbash, are already negotiating service deals with some of the up-and-coming giants in the sports industry and are also actively looking into several significant acquisition and joint venture opportunities.”
Integration efforts are already underway to expand the AI platform’s applications into both existing and new verticals. Additionally, the Company intends to file for a name and symbol change to reflect the new business.
Key Transaction Terms and Details
Pursuant to the Asset Purchase Agreement between the parties, Ticketbash agreed to sell to the Company certain of their assets (i.e., their AI software and related IP), and on May 30, 2025, and because of existing encumbrances on the assets being sold, the Company and Ticketbash entered into an amendment to the purchase agreement (the “Amendment”), providing that (i) the Company would pay $1,000,000 to Ticketbash within 10 months (the “Initial Cash Payment”), and upon completion of the Initial Cash Payment, the purchased assets will be immediately transferred to the Company; (ii) the Company will immediately issue Ticketbash’s owners a number of shares of Company preferred stock having voting rights equal to sixty percent (60%) of the total voting rights of the Company, and which shares of preferred stock shall have no economic rights, except that such shares shall automatically convert into sixty percent (60%) of the total number of outstanding shares of Company common stock on a fully diluted basis (following issuance of conversion shares) calculated as of June 1, 2025, upon the payment by the Company of the Initial Cash Payment; (iii) an additional $2,000,000 cash payment shall be paid by the Company over a 36-month period based on based on revenue and income milestones to be determined by the parties in the future, and (iv) future royalties shall be paid to Ticketbash based on aggregate revenues generated by the Company’s new Ticketbash subsidiary as follows: 2% of revenue up to $15,000,000, 4% of revenue from $15,000,000-$25,000,000, and 5% of revenue in excess of $25,000,000.
The description of the transaction contained here is only a summary and is qualified in its entirety by reference to the Current Report on Form 8-K filed with the SEC on June 2, 2025 (the “Current Report”), as well as the original Asset Purchase Agreement relating to the transaction, filed by the Company with the SEC on April 30, 2025, and the amendment to that agreement filed by the Company with the Current Report.
About Innovative Medtech Inc. Innovative Medtech Inc. (OTC: IMTH or the “Company”) acquired Tickebash, a ticket servicing company with a proprietary AI for ticket servicing that has been launched and is scaling. The Company is also a pioneer in medical technology, specializing in the development of advanced tools and systems to revolutionize healthcare. IMTH is the exclusive licensor for the Oral Thrush application of Shear Kershman Labs’ BioViscid™ bio-adhesive encapsulation. IMTH is also provider of medical technology and devices as well as health and wellness services through its wholly owned subsidiary SarahCare, an adult day care center franchisor with two corporate owned centers and twenty-six franchise locations across the U.S. SarahCare offers seniors daytime care and activities ranging from exercise and medical needs daily to nursing care and salon services. For more information, visit https://www.innovativemedtech.com
Safe Harbor Statement
Statements in this press release that are not historical are forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are only predictions and are not guarantees of future performance and are based on certain assumptions and reflect management's current expectations. These forward-looking statements are subject to a number of risks and uncertainties that could cause actual results or events to differ materially from current expectations and are subject to change at any time. Some of these factors include: general global economic conditions; general industry and market conditions, sector changes and growth rates; uncertainty as to whether our strategies and business plans will yield the expected benefits; increasing competition; availability and cost of capital; the ability to identify, develop and achieve commercial success; the level of expenditures necessary to develop, maintain and improve the quality of products or services; changes in the economy; changes in laws and regulations, including codes and standards, intellectual property rights, and tax matters; or other matters not anticipated; our ability to secure and maintain strategic relationships and distribution agreements. These and other important factors may cause the Company’s actual results, performance, or achievements to differ materially from any future results, performance, achievements or plans expressed or implied by these forward-looking statements. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
IMTH Contact: Media Relations:
Michael Friedman
708-925-9424
ir@innovativemedtechinc.com
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