EyeCity.com Inc (OTCMKTS:ICTY) on August 25, 2022, announced the formation of a Joint Venture with RP Summit. The multi-media lead generation company will focus on monetizing celebrity contacts as well as content by harnessing proprietary marketing tools as well as tested strategies. This will drive awareness, augment promotions and expand audiences.
Trading Data
On Friday, ICTY stock ended flat at $0.0006 with more than 73.12 million shares, compared to its average volume of 31.40 million shares. The stock moved within a range of $0.0005 – 0.0006 after opening trade at $0.0006.
EyeCity.Com, Inc. Forms Joint Venture in Social Media and Entertainment Sector; Company to Move Out of Shell Status in Third Quarter
The projects will include channel marketing, video production as well as business development, which will be utilized for Online Education Project and creating an online classes project. This has a value of $800 million with just 70 classes.
ICTY’s President, Brad Wilson said that the joint venture has identified an underserved and a large segment of the social media arm. Wilson added that the company is about to launch several projects positioned for capturing the market share.
Wilson further stated that the 30-plus years of experience of both companies along with proprietary strategies gives the capability to “reverse” engineer different sectors of the market. He further said that the firms are creating a library of projects from different facets of life, having significant potential in the high-margin Global E-Learning Market.
It is estimated that the global e-learning market will reach 400 billion U.S. dollars by 2026, double the size of 2019. North America continues to dominate the regional market and will reach USD 76 billion by 2030 at a CAGR of 11.3%.
Key Quote
ICTY’s President, Brad Wilson, stated “Our Joint Venture has identified an undervalued, underserved, but a large segment of this social media vertical. We are about to launch a series of projects that are positioned to capture our share of the market. Our combined 30-plus years’ experience and proprietary strategies has provided us with the ability to “reverse” engineer various sectors of this market that all share in the expected upside projections. Through our relationship with celebrities in sports, entertainment, and business, we are creating a library of projects from all facets of life. Each one in itself having great potential in this high margin Global E-Learning Market.”
Technical Data
ICTY stock is trading below the 20-Day and 50-Day Moving averages of $0.0007 and $0. 0006 respectively. Moreover, the stock is trading below the 200-Day moving average of $0. 0010. The company has a total market capitalization of $1.36 million. The stock is down 5% over the past month.
