Alpha Modus Corp. Announces Patent Settlement, Strategic Partnerships, and Expansion Plans
Alpha Modus Corp. (Nasdaq: AMOD), a technology company specializing in artificial intelligence (AI) solutions for the retail sector, recently announced a series of significant developments. These include a favorable settlement in a patent infringement lawsuit, new strategic partnerships, and large-scale deployment of AI-powered financial kiosks to expand advertising revenue.
Patent Infringement Settlement and Strategic Partnership
On March 17th, AMOD announced a settlement in its patent infringement lawsuit against Wakefern and Shelf Nine. As part of the agreement, Shelf Nine’s parent company, VSBLTY Groupe Technologies Corp., will negotiate a strategic partnership for the deployment of AMOD’s technology. This will include a perpetual license for AMOD’s patented innovations. This agreement validates Alpha Modus’s intellectual property rights. The company is pursuing additional enforcement actions against other companies who are believed to infringe on their patent portfolio.
AI-Powered Retail Expansion
On February 13th, AMOD forecasted substantial growth through the large-scale deployment of its financial kiosks. Working with their partner, CashX, the deployment initially focused on supermarkets in California and Colorado. With a contracted deployment expected in roughly 10,000 locations, this initiative is intended to generate $75 million in annual ad revenue. Each AI-powered CashX kiosk is projected to serve 1,250 unique visitors per month. William Alessi, the CEO of AMOD stated, “We see our AI technology revolutionizing the self-service financial kiosk industry, creating an entirely new revenue stream while providing critical services to millions of consumers.”
Strategic Reseller Agreement
On February 10th AMOD entered into a strategic reseller agreement with GlobeTopper (OTC: ASII). This partnership grants AMOD the exclusive right to resell GlobeTopper’s digital transaction solutions, broadening revenue streams. These solutions include prepaid cards, event tickets, cryptocurrency services, and remittance products. This expansion further differentiates AMOD in the evolving retail technology landscape.
CEO Addresses Market Volatility
Alpha Modus CEO, William Alessi, addressed market volatility and the recent SPAC merger on January 30th. Alessi highlighted the company’s strong fundamentals despite what he described as “uninformed speculation” by certain market participants. Management believes certain market players have underestimated the company’s operational model, IP catalogue, and significant pipeline of strategic initiatives.
