NetworkNewsBreaks – SRAX Inc. (NASDAQ: SRAX) Ann
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Posted On: 10/01/2020 3:11:22 PM
NetworkNewsBreaks – SRAX Inc. (NASDAQ: SRAX) Announces BIGtoken to Become Separate Public Company
SRAX (NASDAQ: SRAX), a financial technology company that unlocks data and insights for publicly traded companies, will be moving its BIGtoken platform to a separate, publicly traded company. BIGtoken empowers consumers to earn money and control their own data. In preparation for the move, SRAX has entered into a definitive share exchange agreement with Force Protection Video Equipment Corp. (OTC: FPVD). The agreement stipulates that SRAX will transfer all outstanding equity of BIGtoken in exchange for 88.9% of the issued and outstanding shares of FPVD, subject to outlined closing conditions. By transitioning BIGtoken into its own company, SRAX continues to benefit from the BIGtoken platform while reducing its costs and focusing its resources on the success and future profitability of Sequire. SRAX CEO and founder Christopher Miglino will serve as chairman of the new company and will also remain at SRAX. “BIGtoken has experienced wide adoption from some of the largest marketers in the world and is ready to be on its own,” said Miglino in the press release. “This move will allow SRAX to stay laser focused on the rapid growth of the Sequire platform. Our focus is to get SRAX to profitability and this move, combined with our significant growth in Sequire, gets us much closer.”
Please see full disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: http://NNW.fm/Disclaimer
SRAX (NASDAQ: SRAX), a financial technology company that unlocks data and insights for publicly traded companies, will be moving its BIGtoken platform to a separate, publicly traded company. BIGtoken empowers consumers to earn money and control their own data. In preparation for the move, SRAX has entered into a definitive share exchange agreement with Force Protection Video Equipment Corp. (OTC: FPVD). The agreement stipulates that SRAX will transfer all outstanding equity of BIGtoken in exchange for 88.9% of the issued and outstanding shares of FPVD, subject to outlined closing conditions. By transitioning BIGtoken into its own company, SRAX continues to benefit from the BIGtoken platform while reducing its costs and focusing its resources on the success and future profitability of Sequire. SRAX CEO and founder Christopher Miglino will serve as chairman of the new company and will also remain at SRAX. “BIGtoken has experienced wide adoption from some of the largest marketers in the world and is ready to be on its own,” said Miglino in the press release. “This move will allow SRAX to stay laser focused on the rapid growth of the Sequire platform. Our focus is to get SRAX to profitability and this move, combined with our significant growth in Sequire, gets us much closer.”
Please see full disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: http://NNW.fm/Disclaimer
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