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Sunday, November 27, 2022

Wikisoft (OTCMKTS: WSFT) Breaking Out Northbound as Emergency Response Technologies Spinoff to Change Name to Quality Industrial Corp. (OTCQB)

Wikisoft (OTCMKTS: WSFT) continues to move higher in recent trading currently nearing $0.55 highs of June. On Tuesday the stock was up in a down market topping $400,000 in dollar volume and looking for a break over previous highs. The Emergency Response Technologies spinoff from ILUS is in the process of changing its name and ticker symbol to Quality Industrial Corp. (OTCQB). The name change aligns with the recent strategic changes and upcoming operational changes now following the acquisition by Emergency Response Technologies, a wholly owned subsidiary of ILUS International (Ilustrato Pictures International Inc; OTC: ILUS) as of June the 2nd 2022. 

Reverse merger stocks can be more explosive than biotech’s when the incoming Company has real value but is undiscovered to investors and we have covered many on the website that have gone from pennies to dollars. WSFT has not disappointed so far and is quickly turning into a solid runner with an eye on $0.55. A break over and its blue skies ahead for WSFT. WSFT has big acquisition plans and has reported the agreed acquisition delivered upwards of $100m in 2021 revenue. According to the Company, the terms have been agreed for the acquisition of a large process equipment manufacturer which is focused primarily on the Oil, Gas and Utility industries and which also manufactures firefighting equipment for special projects. 

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Wikisoft (OTCMKTS: WSFT) is a fully reporting OTCQBB SEC filer that filed its 10k in March on time and has a clean balance sheet with $390k in liabilities. The Company is in the process of changing its name and ticker symbol to Quality Industrial Corp. (OTCQB), a subsidiary of the public M&A company, ILUS International. Quality Industrial Corp. is a public M&A Company focused on the Industrial, Oil & Gas and Utility Sectors. ILUS acquired Wikisoft Corp. On June 2nd 2022, a fully SEC reporting company listed on OTC Markets on the QB, as a Special Purpose Vehicle (SPV) for strategically aligned acquisitions. Wikisoft Corp. is undergoing a name change to Quality Industrial Corp. 

Since early June WSFT has been in the process of completing a name and ticker change as well as a change in operations. The company believes that the reorganization of the operating business and change in focus following its acquisition and reorganization by Emergency Response Technologies will lead to growth for the company and add Shareholder value. Wikisoft well become more visible on social media channels. The company will provide regular updates on its operational changes and progress through social media and formal press releases.  

The company confirmed that it has agreed the principal terms to acquire its first $100 million revenue company. The agreed acquisition delivered upwards of $100 million in 2021 revenue and is on track to achieve over $200 million in 2022.  ILUS is pleased to announce that following months of discussions and due diligence, the terms have been agreed for the acquisition of a large process equipment manufacturer which is focused primarily on the Oil, Gas and Utility industries and which also manufactures firefighting equipment for special projects. The company is a leading provider of heavy engineering solutions and turnkey projects with an extensive list of global multinationals as customers. The agreed acquisition is headquartered in the Middle East where its manufacturing and assembly facilities extend to over 10 million square feet.   

Following completion of the first round of due diligence, the heads of terms for the acquisition and documentation have been agreed. The attorneys are satisfied and have begun work on the contracts whilst the second round of due diligence is already underway. ILUS and the agreed acquisition hope to complete the remaining due diligence and contractual process within approximately thirty days.   

Along with the acquisition of its controlling shares by Emergency Response Technologies, a new Board of Directors and Executive Officers are being put in place with immediate effect. The company is exploring and taking on new growth opportunities which will involve a reorganization of the operating business and a change in focus. WSFT anticipates that it will simultaneously implement the necessary changes and take on its first growth opportunity. The company believes that the change in focus following its acquisition and reorganization by Emergency Response Technologies will lead to growth for the company and add Shareholder value. 

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The Company filed a POSAM seeking to deregister the remaining shares on its Registration Statement which it initially filed with the Securities and Exchange Commission on July 30, 2021 and declared effective, as amended, on November 23, 2021. The Company is seeking to deregister the remaining shares under the Registration Statement due to the upcoming name, ticker and change in operations as announced, as well as being consistent with the public interest and the protection of investors following its acquisition by Emergency Response Technologies. 

On June 24 WSFT announced its BOD has authorized a change in the name and ticker of the company in connection with a short form merger with its wholly owned subsidiary, Quality Industrial Corp, in accordance with NRS 92A.180. The corporate action will be submitted to FINRA and will be effective once a market effective date is provided by FINRA. 

Wikisoft Corp. has requested a name change to Quality Industrial Corp. to align with the recent strategic changes and upcoming operational changes now following the acquisition by Emergency Response Technologies, a wholly owned subsidiary of ILUS International (Ilustrato Pictures International Inc; OTC: ILUS) as of June the 2nd 2022. 

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Currently trading at a $50 million market valuation WSFT is clean fully reporting OTCQB and now 77% owned by ILUS shareholders. There are just 21,339,379 free trading WSFT shares currently in the market and significant demand as ILUS created the new Company to hold its Emergency Response Technologies Inc subsidiary which is acquiring a large ($100-200M revs) Company (the agreed acquisition). The Company is in the process of changing its name and ticker symbol to Quality Industrial Corp. (OTCQB). The name change aligns with the recent strategic changes. Microcapdaily will be updating on WSFT, So Get on the List, its 100% Free. 

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Disclosure: we hold no position in WSFT either long or short and we have not been compensated for this article.

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