NetworkNewsBreaks – SRAX Inc. (NASDAQ: SRAX) to
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Posted On: 12/01/2021 2:21:57 PM
NetworkNewsBreaks – SRAX Inc. (NASDAQ: SRAX) to Deconsolidate BIGtoken Inc. (FPVD) Following Merger
SRAX (NASDAQ: SRAX), a financial technology company that unlocks data and insights for publicly traded companies through Sequire, its software-as-a-service (“SaaS”) platform, has announced that, from this date forward, it will no longer have to consolidate the financials of BIGtoken (OTC: FPVD). On Sept. 27, 2021, BIGtoken, the leading platform for ethically-sourced identity, data and insights creation and media activation, and BritePool Inc., a leading identity verification company for advertisers and publishers, entered into an agreement and plan of merger in an all-stock transaction. Upon completion of the union, SRAX is no longer obligated to consolidate BIGtoken into its financials. SRAX currently holds the BIGtoken position on the balance sheet at approximately $4,000,000, which will now be adjusted on a quarterly basis to mark the position to market. “We incubated BIGtoken and provided the infrastructure for BIGtoken so they can be their own company,” said SRAX founder and CEO Christopher Miglino. “The management team is one of the best in the industry, and we look forward to them achieving the vision of consumers owning their own data.”
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 through Sequire, its software-as-a-service (“SaaS”) platform, has announced that, from this date forward, it will no longer have to consolidate the financials of BIGtoken (OTC: FPVD). On Sept. 27, 2021, BIGtoken, the leading platform for ethically-sourced identity, data and insights creation and media activation, and BritePool Inc., a leading identity verification company for advertisers and publishers, entered into an agreement and plan of merger in an all-stock transaction. Upon completion of the union, SRAX is no longer obligated to consolidate BIGtoken into its financials. SRAX currently holds the BIGtoken position on the balance sheet at approximately $4,000,000, which will now be adjusted on a quarterly basis to mark the position to market. “We incubated BIGtoken and provided the infrastructure for BIGtoken so they can be their own company,” said SRAX founder and CEO Christopher Miglino. “The management team is one of the best in the industry, and we look forward to them achieving the vision of consumers owning their own data.”
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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