Electronic Servitor Publication Network, Inc. (OTCPK: XESP) signed a Term Sheet to acquire All Assets of Phitech Management, LLC for $2.5 million.

Electronic Servitor Publication Network, Inc. (OTCPK: XESP) (the "Company") signed a Term Sheet to acquire All Assets of Phitech Management, LLC for $2.5 million on October 27, 2023. Pursuant to this transaction (the ?Asset Purchase?), the Company will pay an aggregate purchase price of $2,500,000, plus the assumption of the assumed liabilities for Phitech?s assets, including its proprietary technology. Upon consummation of the Asset Purchase, the Ten Million (10,000,000) shares of common stock of the Company held by Phitech, representing 100% of Phitech?s ownership of the Company, shall be cancelled and returned to the Company?s treasury.

The Company will acquire the proprietary technology held by Phitech pursuant to the terms of the Asset Purchase Agreement.