- PRPI completes two acquisitions to create synergistic offering for auto collectors, enthusiasts, restorers and lovers.
- Plan brings much-needed technology, innovation to collector car industry.
- AutoGrafic offers a suite of tools ideally suited to the complex and robust collector car world.
AUBURN, Ind., June 24, 2021 (GLOBE NEWSWIRE) — via InvestorWire — In a strategic move to strengthen its portfolio, including its recently acquired Worldwide Auctioneers, as well as team leadership, Perpetual Industries Inc. (OTC: PRPI) completed its acquisition of the AutoGrafic Software System earlier this year (https://ibn.fm/PcJiX). PRPI is looking to create a unique offering in the world of collector cars by bringing Worldwide Auctioneers and the AutoGrafic Software System together in a synergistic offering designed to provide auto collectors, enthusiasts, restorers and lovers with a more interactive and connected experience (https://ibn.fm/YzFTj).
“This acquisition provides another foundational piece in our quickly expanding blockchain division and, in addition to outstanding software, augments our team with some truly exceptional talent,” said Perpetual Industries CEO Brent Bedford. “It will also greatly benefit Worldwide Auctioneers, our newly acquired wholly owned subsidiary, by bringing much-needed new technology and innovation to their customers and the collector car industry at large.”
AutoGrafic is a software as a service (SaaS) and social application featuring cutting-edge technology that hosts a wide array of automotive promotion and preservation services and components. The system is specifically designed to attract global collector car enthusiasts who are looking for a novel, multifaceted, interactive automotive experience focused on a visual-based social community, collection management, social events, auctions, insurance, research, preservation and historical documentation.
The software system was created by Travis LaVine and Jason Stoller of LaVine Restorations Inc., who envisioned filling a need in the car collector space for a user-friendly software that could be a singular point for the community. Based in Indiana, LaVine Restorations is a global leader in high-end classic car restoration and preservation.
“We have worked tirelessly over the past year to develop AutoGrafic as a suite of tools suited to the complex and robust collector car world,” said Lavine. “Never has there been a more important time than now to create an ecosystem that brings collectors, enthusiasts, restorers and car lovers a more interactive and connected experience, especially in light of COVID and our everchanging online world.”
As a result of the two acquisitions, Perpetual has created a new division focused on the growing collector car community. The company announced that this division will be led by LaVine, Stoller, and Perpetual’s lead software and blockchain developer Evan Witmer. This division will also include an expanded team of software developers focused on the end goal of elevating the platform and bringing it to its full potential.
AutoGrafic serves as an additional foundational component of Perpetual Industries’ rapidly expanding blockchain division. The application is expected to greatly benefit Worldwide Auctioneers by bringing new innovation and technology to its customers and the overall collector car industry. Perpetual Industries intends to capitalize on this growing marketplace sector through creating an immersive interactive experience as well as a central hub designed to attract the next generation of car enthusiasts. Plans include a mobile app, loyalty program, tokenization on the blockchain and a full suite of other multidimensional features.
In addition, PRPI noted that AutoGrafic users will be able to gain access to the system by using a mobile phone or web browser; users will be able to participate through a free plan or choose from various levels of premium plans that will provide access to advanced functions on a per-feature subscription basis.
“We are thrilled that AutoGrafic is now part of the Perpetual Industries family,” said Worldwide principal and auctioneer John Kruse. “We have had a wonderful relationship with LaVine Restorations and the AutoGrafic team for many years and believe the synergies are incredible, and we look forward to working together to bring solutions to our industry and beyond.”
Perpetual Industries is an incubator for the development of new and innovative energy-efficient technologies. The company’s mission is to “perpetuate industry” by bringing value-added technologies to market. The company is expanding its expertise and knowledge of energy-efficient technology by developing low-cost, green-energy-powered solutions for a variety of industries while continuing its research, development and commercialization of its proprietary XYO Mechanical Balancing Technology in key applications.
For more information about the company, please visit www.PerpetualIndustries.com.
About Perpetual Industries Inc.
Incorporated in Nevada and based in Auburn, Indiana, Perpetual Industries Inc. (OTCMARKETS: PRPI) is an incubator for the development of new and innovative energy-efficient technologies. Our mission is to “perpetuate industry” by bringing value-added technologies to market. At the Company’s core is a proprietary technology known as the XYO Mechanical Balancing Technology, designed specifically to dynamically eliminate vibration in rotating equipment to create energy-efficient, environmentally responsible products. We are expanding our expertise and knowledge of energy-efficient technology by developing low-cost, green-energy-powered solutions for a variety of industries, including renewable energy, blockchain mining, artificial intelligence, graphic rendering, internet of things (IoT) and cloud computing, while continuing our research, development and commercialization of the XYO Technology in key applications.
Certain statements in this press release constitute “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended; Section 21E of the Securities Exchange Act of 1934; and the Private Securities Litigation Reform Act of 1995; as well as “forward-looking information” as such term is defined in applicable U.S. and Canadian securities legislation. We may use words such as “may,” “would,” “could,” “should,” “potential,” “will,” “seek,” “intend,” “plan,” “anticipate,” “believe,” “estimate,” “expect” and variations of these words and similar expressions to identify a forward-looking statement. Such statements reflect the Company’s current views and intentions with respect to future events and current information available to the Company and are subject to certain risks, uncertainties and assumptions, including, without limitation: the conditions to closing of the transaction being satisfied, including obtaining all necessary approvals for the transaction. Should any factor affect the Company in an unexpected manner, or should assumptions underlying the forward-looking information or statements prove incorrect, the actual results or events may differ materially from the results or events predicted. Any such forward-looking information or statement is expressly qualified in its entirety by this cautionary statement. Moreover, the Company does not assume responsibility for the accuracy or completeness of such forward-looking information or statements. The forward-looking information and/or statements included in this press release are made as of the date of this press release, and the Company undertakes no obligation to publicly update or revise any forward-looking information, other than as required by applicable law.
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