UA Multimedia Announces Leadership Transition and Change of Control
HUNTINGTON BEACH, Calif., March 24, 2025 (GLOBE NEWSWIRE) -- UA Multimedia, Inc. (OTC: UAMM), a technology solution provider specializing in information technology, artificial intelligence (AI), and fintech, today announced leadership changes as part of a strategic shift in the Company's direction and vision for the future.
Huan Nguyen, who has served as CEO since 2023, has resigned from the position. In light of this transition, the Board of Directors is pleased to announce the appointment of Nathan Ho as the new CEO of the Company. Nathan Ho, a seasoned executive with extensive experience in fintech, joins UA Multimedia with a proven track record in fintech, blockchain, and AI from his current role as CEO of Onfa Fintech USA (Onfa.io). The Board is confident that Nathan Ho's leadership and strategic vision will guide the Company toward significant growth and innovation.
Additionally, UA Multimedia announces the resignation of Michael Lajtay as the director of the Company. To fill the vacancy left by Michael Lajtay's departure, Professor Thanh (Nicholas) Phan has been appointed as the new sole director of the Company. Thanh Phan brings a wealth of experience across a wide range of industries from his role as Chairman of Mettitech Group and is well-positioned to support the Company's goals as it moves forward.
These changes signify a shift in the leadership structure and control of the Company, positioning UA Multimedia for a new chapter of growth and transformation. The Board is excited about the future under Nathan Ho's leadership and the continued development of UA Multimedia.
"I am honored to take on the role of CEO at UA Multimedia during this pivotal time. With a strong foundation in fintech, blockchain, and AI, I am committed to driving innovation, expanding our market presence, and creating long-term value for our shareholders. This leadership transition marks the beginning of an exciting new chapter, and I look forward to working with our talented team to propel the Company to new heights," commented Nathan Ho.
As part of its new direction, the Company is in the process of changing its name to Mettitech Group Holdings, Inc. and integrating certain assets from the Mettitech conglomerate to strengthen UA Multimedia's position in the global market.
To reduce debt, mitigate potential significant dilution, and better align the Company, management has settled four convertible promissory notes related to the Pascal Software investment, totaling $200,000. Each note holder has agreed to cancel their note in exchange for direct ownership of Pascal Software equity and 1,000,000 restricted common shares of the Company. As a result, the Company's debt is reduced by 70%.
Additionally, 25,000,000 common shares will be canceled and returned to the treasury. The Company is currently in discussions with other shareholders to acquire and cancel additional shares.
About UA Multimedia, Inc.:
UA Multimedia, Inc. is a technology solution provider that specializes in information technology, artificial intelligence, and fintech. It also operates as a holding company, actively pursuing the acquisition of domestic and foreign entities within the same sector.
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About Mettitech Group:
Mettitech Group is a multinational conglomerate with diversified investments across various industries. Initially established as an original equipment manufacturer (OEM) for medical and pharmaceutical products, the company expanded into pharmaceutical consulting, offering expertise to optimize operations within the sector. Recognizing the importance of education, Mettitech Group invested in educational initiatives, including schools, universities, and vocational training centers, to promote global human capital development. The conglomerate also ventured into real estate, developing and managing commercial, residential, and mixed-use projects. Additionally, Mettitech Group manages equity investments in both public and private markets, aiming to generate attractive returns for stakeholders while supporting the growth of invested companies.
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Forward-Looking Statements:
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.
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