INOQ - TPT Global Tech subsidiary to acquire IST with $9.5M backlog in executed government contracts

• TPT Global Tech ( OTCPK:TPTW ) subsidiary TPT Strategic ( OTCPK:INOQ ) enters a definitive agreement for the acquisition of the assets and Information Security and Training or ITS with ~$9.5M backlog in executed Government contracts as of April 30, 2022.
• It is a general construction and information technology services company.
• TPT Strategic and ITS agreement for the acquisition was a TPT Strategic stock transaction, except for the assumption of assets and liabilities, where the founder and sole interest holder Everett Lanier is to receive 2M common shares of TPT Strategic, after capital restructuring, and the assumption of all assets and liabilities which ~$1.6M and $1.2M, respectively, as of December 31, 2021.
• Unaudited revenues and net income for ITS the year ended December 31, 2021 were ~$2.8M and $167,000 respectively.
• The issuance of the acquisition shares is estimated to be ~10% of the proposed outstanding common shares for TPT Strategic with TPT Global Tech controlling over 50% of TPT Strategic through the Series A Preferred Super Majority Voting Stock.

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