DEF 14C: Mycotopia Therapies Inc. to Rebrand as AiBiotics Inc. Following Stockholder Approval

Mycotopia Therapies Inc. will change its name to AiBiotics Inc. to reflect its shift towards using Artificial Intelligence in its business operations.

Summary

• Mycotopia Therapies Inc. has announced a change of its corporate name to AiBiotics Inc.
• This decision was approved by a majority of voting stockholders via written consent on January 16, 2024, and amended on March 11, 2024.
• The name change reflects the company's strategic shift towards leveraging Artificial Intelligence (AI) to develop innovative products.
• The company anticipates the name change will be effective on or before April 30, 2024.
• Stockholders are not required to take any action regarding their share certificates due to the name change.
• The company's trading symbol will also be changed, subject to FINRA approval.

Sentiment

Score: 6

Explanation: The sentiment is neutral. The document primarily conveys factual information about a corporate name change. The shift to AI could be seen as positive, but the document lacks concrete details about future plans or financial projections.

Positives

• The rebranding to AiBiotics Inc. signals a strategic shift towards a potentially high-growth area of Artificial Intelligence.
• The name change is expected to better reflect the company's core business activities.
• The majority stockholder approval ensures the change will be implemented smoothly.

Risks

• The company's success will depend on its ability to effectively integrate and leverage AI in its operations.
• The forward-looking statements are subject to risks, uncertainties, and assumptions that could cause actual results to differ materially.

Future Outlook

The company is transitioning to using Artificial Intelligence to transform ideas into disruptive products and will change its trading symbol to reflect the new name, subject to FINRA approval.

Management Comments

• The Board of Directors believes that it would benefit the Company if its name reflected that of its main business.

Industry Context

The rebranding reflects a broader trend of companies seeking to capitalize on the growing interest and investment in Artificial Intelligence.

Related Party Transactions

• The company recorded $288,000 for cash compensation as accrued expense related party in relation to the Kaplan Agreement.
• During the years ended December 31, 2022 and 2021, the Company recorded $436,417 and $2,317,861, respectively, as general and administrative expense, of which $148,417 and $2,029,861, respectively, was recorded as stock-based compensation in relation to the Warrants issued, in connection with the Kaplan Agreement.

Stakeholder Impact

• Shareholders will see a change in the company's name and trading symbol.
• The company believes the name change will benefit the company.

Next Steps

• Submit the name and symbol change to FINRA for approval.
• Effect the name change on or before April 30, 2024.

Key Dates

Keywords

AiBiotics Inc., Mycotopia Therapies Inc., name change, Artificial Intelligence, rebranding, corporate action