Phoenix Rising Companies (OTCPK:PRCX) entered into definitive memorandum of understanding to acquire Morpheus Robotics, Inc. for SGD 0.63 million on May 26, 2022. Under the MOU the terms and conditions includes issuance of 100 million common restricted shares of Phoenix to the sellers of Morpheus shares, the preparation and acceptance of a final acquisition contract, final approval from the respective Boards of Directors, the arrangements for suitable capital financing for Morpheus in the anticipated amount of SGD 8 million and other conditions which either exist now or will arise during the final negotiations.