aibioAibotics completes purchase of PlayJamaica robotics and drone assets
Tickers AIBT
Aibotics signed an asset purchase agreement with PlayJamaica Limited on October 12, 2026, and completed the acquisition on October 14, issuing 22,500 shares of Series B Preferred Stock.
Key facts
- Company
- AIBOTICS, INC. (OTC: AIBT)
- News type
- Mergers
- Primary source
- AIBOTICS, INC. 8-K (2026-10-16)
Aibotics, Inc. (OTC: AIBT) entered into an Asset Sale and Purchase Agreement with PlayJamaica Limited, a company organized under the laws of Jamaica, on October 12, 2026. The company agreed to acquire assets tied to PlayJamaica's robotics, drone services, artificial intelligence and mapping solutions, and on October 14, 2026 it completed the acquisition and issued 22,500 shares of Series B Preferred Stock to PlayJamaica. The disclosure appears in an 8-K with a date of report of October 14, 2026, filed October 16, 2026.
The terms
The acquired assets include robotics and drone equipment, mapping equipment and related tangible assets, the NovaCore Labs name, logos and branding, customer and vendor data, intellectual property including the NovaCore Nexus software, assignable contracts, the novacorelabs.com domain and related email and social media accounts, and associated goodwill.
As consideration, Aibotics agreed to issue PlayJamaica 22,500 shares of Series B Preferred Stock with an aggregate stated value of $225,000. PlayJamaica may earn up to an additional $3,000,000 in Series B Preferred Stock if the acquired business generates up to $5,000,000 in cumulative gross revenue during the four years after closing. The earn-out is payable in four tranches of $750,000 each, upon reaching cumulative revenue of $500,000, $1,500,000, $3,000,000 and $5,000,000.
Aibotics does not assume PlayJamaica's liabilities, except about $35,000 relating to certain drones and generators. The company and Gregory Moore are to develop a budget to deploy $1,000,000 of capital in the subsidiary over 12 months, which Aibotics intends to fund with proceeds of an offering under Regulation A. If the company does not fund the subsidiary under the budget and does not cure within 30 days after written notice, PlayJamaica may request to repurchase the assets, returning the Series B Preferred Stock and repaying amounts advanced over 12 months, with interest at 8% per annum, under a secured promissory note.
Management and employment
Aibotics also entered employment agreements with Gregory Moore and Ryan Moore. Gregory Moore was a principal developer of the acquired assets. He will serve as Chief Executive Officer of NovaCore Labs Limited, a Jamaican company and wholly owned subsidiary, and report directly to the chief executive officer of Aibotics.
Within 10 business days of the effective date, Aibotics will issue Mr. Moore 50,000,000 shares of common stock, vesting in three installments on the first, second and third anniversaries. His cash performance bonus equals 10% of NovaCore's net income under U.S. GAAP, up to $500,000 per year. He can also earn Series B Preferred Stock on revenue milestones: $625,000 of face value if NovaCore earns $1,000,000 in gross revenue from the acquired assets by the second anniversary of the employment agreement, and another $625,000 if revenue reaches $2,000,000 by the third anniversary. The company expects to provide up to $1,000,000 to NovaCore to finance the related business plan. The 8-K also covers an employment agreement with Ryan Moore, who will serve as Vice President of NovaCore. His agreement also provides 50,000,000 shares of common stock.
Financial position
The XBRL financial data show revenue of $2,183 for 2025, against nothing reported for 2024. Net loss was $2.2 million in 2025 and $1.8 million in 2024. Cash from operations was negative $458,240 in 2025 and negative $259,037 in 2024. Year-end cash and cash equivalents were $255,940 at the end of 2025 and $185,097 at the end of 2024. Cash was $233,427 at June 30, 2026.
The risks ahead
The deal has closed, but the buyer is small. Aibotics reported revenue of $2,183 for 2025, a net loss of $2.2 million and cash of $233,427 at June 30, 2026, while the agreement calls for a budget to deploy $1,000,000 in the subsidiary over 12 months. The company says it intends to fund that with a Regulation A offering. If it does not fund the subsidiary and does not cure within 30 days after notice, PlayJamaica may ask to repurchase the assets. The earn-out and the 50,000,000-share grants to each of the Moores would be issued on top of existing stock.