Himalaya Technologies Agrees To Purchase Short Form Mobile Video Platform From Cyber Space, Llc

Himalaya Technologies, has agreed to buy AWS short form video technology assets, mobile video applications, and related intellectual property from privately-held Cyber Space, LLC. The transaction is expected to accelerate the evolution of Himalaya’s Internet business by adding innovative video services that enable mass market user generated content and have taken the world by storm.

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To organically execute this build and evaluate and enhance the purchased assets, Himalaya has engaged outsource web design and programming firm Chetu, to code and create a social network to be called “goccha!”, which will be located at goccha.net and/or similar domains now owned by the Company. The engagement will provide Himalaya’s team access to Chetu’s 2,000+ programmers in 14 countries that have developed over 23,000 web platforms and mobile applications over the past several years worldwide.

Himalaya intends to copy and enhance the code it has already developed for its 100% owned social site Kanab Club and add short form video capabilities to compete with existing video providers under regulatory review for foreign ownership, data privacy, and other salient issues. The engagement includes retention of a Chetu team of programmers and a project manager who will report their analysis, progress, and status to Himalaya’s existing Web advisors regularly.

Management Commentary

Said Vik Grover, Himalaya’s CEO: “Since 2019, we have been quietly building our Internet site focused on the cannabis industry and are now ready to replicate it as a foundation for additional social networks. Himalaya owns the code to Kanab Club built from the ground up on best-of-breed software. This means we are able to copy and reskin the site for any other vertical in the world and fragment Facebook’s “one-size-fits-all” model. Technology ownership means we can quickly insert innovative technologies such as short form video and artificial intelligence into the site and rapidly build a unique value proposition, while leveraging coding investments across multiple websites and applications to achieve economies of scale.

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Given the recent Congressional review of Tik Tok and awareness of user privacy issues and data security by other mainstream social media, the time is ideal to invest in an independent short form video social network and app to offer users an alternative to foreign owned destinations and social media giants that monitor, manage, and/or sell their users’ data and have myriad privacy and security issues. With our existing social network, goccha! is the right deal at the right time for a high growth bet on our future and the 150 million Tik Tok users in the U.S. that may soon be up for grabs. Say it three times and you will likely agree…goccha!”

Consideration for the transaction, subject to due diligence, is $100,000 cash and $50,000 in restricted preferred stock. There are no assurances of successful development of goccha! beyond reapplication of our existing code or that we will be able to fund this project based on market conditions.

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