DIGITAL ARTS MEDIA NETWORK, INC., N/K/A DIGITAL ASSET MONETARY NETWORK, INC – PENDING FINRA APPROVAL, INFORMS SHAREHOLDERS OF A CLERICAL ERROR CAUSING THE COMPANY TO REAPPLY WITH OTC MARKETS AND NOT FILE ITS FINANCIAL DISCLOSURES – MAY RESULT IN 'CURRENT STATUS' DOWNGRADE FOR A SHORT PERIOD OF TIME
NEW YORK, Aug. 14, 2018 (GLOBE NEWSWIRE) -- Digital Arts Media Network, Inc. – n/k/a Digital Asset Monetary Network, Inc. – pending FINRA approval ( OTCMKTS: DATI ), a specialized tech accelerator leveraging the Public Accelerator-Incubator (PAI) model, today announced that the Company will not be able to file its financial disclosures due to a clerical error encountered during the transitioning from the previous corporate name to the current.
“The corporate name change from Digital Arts Media Network, Inc., to Digital Asset Monetary Network, Inc., better reflecting how operations have evolved, has been in the works for some time,” said Ajene Watson, CEO of DATI. “This includes new online assets (emails, domains, social media, etc.).”
“During this transition however, a clerical error resulted in a missed invoice while we were transitioning to a new email system. This mishap unfortunately requires us to reapply with the OTC Markets Group. Regrettably this put us in a difficult spot, as now, we cannot file our financial disclosures in a timely manner. Nor can we file a proper ‘Notification of Late Filing’ notice in order to maintain our ‘Current Status.’ Thus, the reason for this announcement.
“It is important, given the overall state and sentiment of the microcap environment, our shareholders are kept fully apprised of challenges before they unfold or as they unfold. Certainly, not after. We presume that during this reapplication process our ‘Current Status’ will be downgraded until our application is reaccepted.
“This clerical error is a silly mistake which will likely be a one-time event and avoided in the future. We expect to file our financial disclosures with the OTC Markets Group upon the acceptance of our re-application.”
The corporate name change continues to pend FINRA approval. However, the Company stands ready to unveil its new website and other online assets along with a new executive summary and other material detailing the Company’s significant progress and opportunity.
ABOUT Digital Asset Monetary Network, Inc., f/k/a Digital Arts Media Network (pending FINRA approval) Digital Asset Monetary Network, Inc. ( OTCMKTS: DATI ) is the first company to utilize the Public Accelerator-Incubator (PAI) model, with the intent to follow the global success of accelerators and incubators around the world, adding niche opportunities to both the microcap and startup communities. As a PAI, Digital Asset Monetary Network will develop and acquire innovations that solve problems through digital platforms and other electronic applications.
Twitter: https://twitter.com/OTC_DATI Facebook: https://www.facebook.com/DigitalAssetMonetaryNetwork/
Forward Looking Statements Statements in this press release that are not statements of historical or current fact constitute "forward-looking statements." Such forward-looking statements involve known and unknown risks, uncertainties and other unknown factors that could cause the Company's actual operating results to be materially different from any historical results or from any future results expressed or implied by such forward-looking statements. In addition to statements that explicitly describe these risks and uncertainties, readers are urged to consider statements that contain terms such as "believes," "belief," "expects," "expect," "intends," "intend," "anticipate," "anticipates," "plans," "plan," to be uncertain and forward-looking.
Contact: Investor Relations and Communications Answering Center (718) 285-6378 EXT 401 info@DigitalArtsMediaNetwork.com
