iPower sells subsidiary GPM for $2.3M note, eliminates major cost center in restructuring

iPower Inc.

Sold Global Product Marketing to ETTS AI for a $2.3M promissory note payable in 7 years.
Retains core supply chain; becomes exclusive supplier to GPM in US/Canada/Mexico.
Can add up to 15% margin on products supplied; purchase order payments offset note.
Transaction expected to cut operating expenses and add ~$2.3M to asset base.

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