DatChat, Inc. agreed to Spin-Off 75% stake in SmarterVerse, Inc. on January 16, 2024. Subject to board approval, DatChat will distribute its shares of SmarterVerse to its shareholders. Upon consummation of the distribution, it is expected that SmarterVerse will become a standalone public company with plans for a public listing on a national stock exchange.

The distribution is subject to customary conditions including the filing and effectiveness of either a Form S-1 or Form 10 registration statement with the U.S. Securities and Exchange Commission and obtaining of all required regulatory approvals.