Taat acquires smoking cessation app Break Free
According to foreign media reports today, and based on a Taat press release, Taat Global Alternatives plans to acquire Break Free from Boksburg Ventures. Break Free is a smartphone app designed to provide smoking cessation strategy guidance. Taat expects
Today, on March 4, according to foreign media reports, Taat Global Alternatives plans to acquire Break Free from Boksburg Ventures, a smartphone application designed to provide smoking cessation strategy advice.<\/span><\/div>
<\/div>
Taat expects Break Free to play a strategic role in the market positioning of its flagship product, Taat, which is a nicotine-free and tobacco-free cigarette alternative.<\/span><\/div>
<\/div>
Break Free takes a holistic approach by first monitoring and tracking the smoking-related habits of adult tobacco users, analyzing these habits, and then providing customized change suggestions for each adult smoker to ensure personalized care and attention.<\/span><\/div>
<\/div>
The Break Free mobile application utilizes advanced technology, including a companion diagnostic module that helps adult smokers personalize and customize currently available FDA-approved smoking cessation devices, enhanced and virtual reality mental health simulations, as well as circadian rhythm usage monitoring activity logs, sleep/wake cycles, and snoring sensors.<\/span><\/div>
<\/div>
The application is not yet available to consumers and requires further development. After the proposed transaction is completed, Taat plans to finalize the development of the application for consumer use on Android and iOS smartphone platforms by integrating additional features that are currently being patented with the U.S. Patent and Trademark Office.<\/span><\/div>
<\/div>
Following the approval of at least two-thirds of the votes at the Boksburg shareholders' meeting scheduled for April 10, 2023, Taat has agreed to issue a total of 17 million shares of Taat common stock to Boksburg, with a per-share valuation of $0.3225 and $3.6 million in working capital.<\/span><\/div>
<\/div>
