Summary by Futu AI
On June 6, 2024, Safe & Green Development Corporation, known as Safe and Green Development, completed the acquisition of the A.I technology My Virtual Online Intelligent Assistant (MyVONIA) from Dr. Axely Congress. The acquisition, in line with the Asset Purchase Agreement dated May 7, 2024, involves MyVONIA, an AI assistant that provides conversational interactions without the need for an app or website, accessible via text messaging. The purchase price includes up to 500,000 shares of the company's common stock, with 200,000 shares issued at closing and an additional 300,000 shares contingent on achieving certain benchmarks. Dr. Congress has entered into a two-year consulting agreement with a non-compete clause and will receive a monthly fee of $10,000 for further development of MyVONIA and other services.