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Thursday, October 29, 2020

Kaival Brands Innovations Group Inc. (KAVL) Focused on Gaining Share in Multi-Billion Dollar Global E-Cigarette Market

Kaival Brands reported $32mn in revenues for the quarter ending July 2020, up 44% QoQ
The growth has been driven by the mounting popularity of KAVL’s flagship product, the Bidi(TM) Stick vaping device
Product’s recent growth has far outpaced the growth rate of the e-cigarette sector, which has seen overall sales rise by 15.6% YoY as of August 2020
Kaival taking next steps to broaden distribution footprint, seeks to gain share in global e-cigarette market, which is set to grow to $53.9 billion by 2027

Kaival Brands Innovations Group (OTCQB: KAVL) is a company which has rapidly garnered a reputation for fostering and incubating innovative companies into mature, dominant brands. As such, the recent success of the Bidi (TM) Stick—an innovative nicotine vaping device designed to provide adult smokers with a premium vaping experience and for which Kaival Brands operates as the sole distributor—comes as no surprise.

Kaival Brands reported sales of $32 million for the quarter ending July 31, 2020, with revenues increasing approximately 44% relative to the previous quarter. The company’ s financial performance is even more remarkable given the degree to which sales growth for the Bidi(TM) Stick has outpaced the overall electronic smoking devices market, with the latter category reporting growth of 15.6% YoY for the 52 weeks ending August 9, 2020 (https://nnw.fm/q3oXb).

“We had an extremely busy and fruitful third fiscal quarter. We experienced a rising demand for our exclusively distributed premium product, the Bidi(TM) Stick. Our sales growth is occurring mostly organically through smaller distribution channels and wholesalers,” said Kaival Brands CEO Niraj Patel. “Now in the fourth fiscal quarter, we are more closely focused on expanding our distribution into large national retailers and convenience chains.”

Having launched less than twelve months ago, Kaival Brands has worked to form an impressive distribution network with the Bidi (TM) Stick now distributed nationwide across over 850 stores, including the likes of Fas Mart and Sprint Mart, in addition to over 2,200 Circle K convenience stores. The company has also sought to aggressively market its product portfolio through e-commerce channels, with the Bidi (TM) Stick now available for sale for in-person delivery from gopuff.com (https://nnw.fm/vNkJv).

The company has also sought to take its initial steps towards international expansion in recent months, through the initial shipment of an order valued at approximately $166 thousand to Ambros Inc., a Guam-domiciled company which is the exclusive distributor of SC Johnson and Budweiser products to all retailers located in Guam.

Despite the Bidi (TM) Stick’s impressive growth trajectory to date, Kaival Brands has yet to fully take advantage of the growth opportunities available within the global addressable e-cigarette market. A recent study carried out by Global Industry Analysts Inc. found that the global market for e-cigarettes, estimated at $16.9 billion in 2020, was projected to rise to an annual value of $59.3 billion by 2027, growing at a CAGR of 19.6% over the seven-year period (https://nnw.fm/cfiQk).

Kaival Brands is a fast-growing company focused on generating wealth by seeking to incubate innovative products into mature and dominant brands in their respective markets. Its vision is to develop internally, acquire or own, and exclusively distribute these profitable brands with recognizable innovation and superior quality.

For more information on Kaival Brands, visit the company’s website at www.KaivalBrands.com.

NOTE TO INVESTORS: The latest news and updates relating to KAVL are available in the company’s newsroom at http://nnw.fm/KAVL

About NetworkNewsWire

NetworkNewsWire (NNW) is a financial news and content distribution company that provides (1) access to a network of wire services via NetworkWire to reach all target markets, industries and demographics in the most effective manner possible, (2) article and editorial syndication to 5,000+ news outlets (3), enhanced press release services to ensure maximum impact, (4) social media distribution via the Investor Brand Network (IBN) to nearly 2 million followers, (5) a full array of corporate communications solutions, and (6) a total news coverage solution with NNW Prime. As a multifaceted organization with an extensive team of contributing journalists and writers, NNW is uniquely positioned to best serve private and public companies that desire to reach a wide audience of investors, consumers, journalists and the general public. By cutting through the overload of information in today’s market, NNW brings its clients unparalleled visibility, recognition and brand awareness. NNW is where news, content and information converge.

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Blockchain Fest 2021: A Global Hub for Crypto Industry

Global crypto forum takes over European financial and IT capital

When – May 2021
Where – Limassol, Cyprus (Parklane Hotel by Marriott Bonvoy)
https://blockchain-fest.com/

Blockchain Fest will take place in May 2021 in Limassol and has chosen Cyprus, the European financial and IT center, as its hub to bring experts from all over the world to open new horizons for the industry. The two-day B2B event will be hosted in Parklane Hotel to welcome 1,000 on-location visitors as well as over 10,000 users joining through online streaming services to network, build connections, share the experiences and dive deeper into blockchain and artificial intelligence innovations.

This forum promises to become not only one of the biggest but one of the most important events in the world of crypto. Blockchain, Cryptocurrency, Crypto-Exchange, DeFi, Mining and Payments Systems are just a few of the long list of topics to be discussed in the conference and workshop rooms as well as in the networking process in the exhibition halls. Blockchain Fest will bring together not only top-professionals and industry leaders from all over the world but also those who are just getting started. Business and professional development is the key focus of the agenda built specifically for this unique event.

The place of this event was not a coincidence as the organizing side chose Cyprus specifically for its leading positions in the crypto market and its attractiveness as an IT and financial center developing with daily expanding pace and attracting international companies to locate their offices and even HQs there. It also sounds like a great fit in terms of traveling and internationality of the environment, so no matter where you are coming from, it feels like home.

Tickets for this event can be purchased through the event website and official partners. More information and the latest updates can be found at blockchain-fest.com and in the official social media channels.

Blockchain Fest is organized by FINEXPO, the producer of financial events since 2002

Contact Blockchain Fest at:
laura@finexpo.org
+65 3159 4585
Laura Mirnaya

Sharing Services Global Corp. (SHRG) Set to Benefit as Consumers Crave More Wellness

Ogilvy study finds wellness increasingly important for consumers
Brands fail to meet growing demand; consumers looking for more
SHRG to capitalize on emerging trend with premium health and wellness products that perfectly target emerging consumers’ needs

A recent study published by Ogilvy reveals that wellness is now considered an essential element of a brand’s strategy (https://nnw.fm/zwzVu). Sharing Services Global (OTCQB: SHRG) is poised for growth as consumers crave wellness and place increasing importance on healthy meals, good sleep and time to relax.

The global study, called the Ogilvy Wellness Gap, has surveyed 7,000 consumers from 14 countries across four continents to explore how they perceive wellness in 2020 to aid brands close the opportunity gaps. The research, conducted in April 2020 when wellness took a nosedive for consumers across the globe, revealed that 77% of respondents cite wellness as very or extremely important to them and 80% want to improve their wellness.

Still, brands seem slow to respond to this growing consumer sentiment as the study reveals that 75% of consumers feel that brands could do more for their wellness and only 46% feel that brands take their wellness as a priority (https://nnw.fm/zwzVu).

Sharing Services Global is ideally positioned to capitalize on this gaping market opportunity as a company offering high-quality health and wellness products. In addition, as a direct-selling company, SHRG brings these innovative products through the network of its home-based entrepreneurs, leveraging the social element of the selling process. This approach offers a strong competitive advantage, as merely claiming wellness benefits is not enough anymore as consumers demand authenticity; the Ogilvy study unveils that consumers demand authentic stories, ingredients they can understand and benefits they can believe.

SHRG’s business model offers strong social proof with sales consultants promoting the products often based on their own experiences and sharing personal product experience with customers. Sharing Services firmly believes that the relationship marketing it practices reaches today’s market and consumers in the most personal and direct approach.

The wellness economy offers considerable growth prospects in the consumer goods segment, and COVID-19 will only accelerate this phenomenon. However, there is an urgent need for brands to rethink their wellness offers and close the wellness gap for consumers. With branded products claiming to give consumers an energy boost, make them feel good and help them sleep better – all cited in the study as critical wellness priorities globally – SHRG looks to be ideally positioned to leverage the strong momentum of today’s 4.5 trillion-dollar wellness economy, which is growing twice as fast as the global economy.

The Sharing Services combined platform currently leverages the capabilities and expertise of various companies that market and sell products direct to the consumer through independent contractors. Two of its primary divisions include Elevacity Holdings LLC., the parent of its wholly owned subsidiary, Elevacity U.S. LLC, a health and wellness products company, and Elepreneurs Holdings LLC., the parent of its wholly owned subsidiary, Elepreneurs U.S. LLC, a sales and marketing company based on utilization of independent contractor distributors who sell the Elevacity product line.

For more information, visit the company’s website at www.SHRGInc.com.

NOTE TO INVESTORS: The latest news and updates relating to SHRG are available in the company’s newsroom at http://nnw.fm/SHRG

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Wednesday, October 28, 2020

Energy Fuels Inc. (NYSE American: UUUU) (TSX: EFR) Looks to Nuclear Energy Future with Bipartisan Support

Nuclear power is seeing bipartisan government support
Executive order declared state of emergency to address America’s overreliance on critical minerals, including rare earth elements and uranium, from foreign sources
House Speaker spearheaded climate bill that calls for reducing emissions to zero by 2050; Biden wants same goal by 2035

Energy Fuels (NYSE American: UUUU) (TSX: EFR) is a U.S. miner that stands ready with the unique abilities and resources to supply the United States with its growing demand for clean nuclear energy. As election day looms closer, the one thing both parties seem to agree on is that nuclear energy has a bright future as the country moves toward cleaner, carbon-free energy sources.

James Conca, an earth and environmental scientist and regular contributor to “Forbes” on the subject of energy wrote, “The idea that Republican Administrations are pro-nuclear and Democratic ones are anti-nuclear is one of those enduring myths, like the idea that Republicans are better for the economy than Democrats. When either party had control of Washington in the last 40 years, neither did anything great for nuclear power” (https://nnw.fm/49OGp).

Conca points out that leading climate scientists say that the country cannot address climate change without significant nuclear power. Therefore, any candidates who are serious about making a difference on the carbon footprint and the future of the world’s climate has to include clean nuclear energy in their plan. As of this moment, both major presidential candidates are backing nuclear power. Indeed, the official Democratic Party Platform supports nuclear energy for the first time since 1972.

This is good news for Energy Fuels, America’s leading producer of uranium, which is the fuel for carbon-free electricity. Energy Fuels was also the largest domestic producer of vanadium in 2019. Vanadium is mainly used in steel and other high-strength alloys. But vanadium batteries, which can be used to store vast amounts of electricity generated from renewable sources, are also being commercialized around the world. The company is also entering the rare earth elements processing business. Rare earths are used in a whole host of advanced technologies, including in the clean energy sector.

On October 1, 2020, Energy Fuels publicly applauded the President’s executive order that declared a state of emergency to address America’s overreliance on critical minerals from foreign adversaries (https://nnw.fm/6ubIt). The order allows for the development of a program to fund mineral processing that protects national security. The President is making it clear that critical minerals should be produced in the United States and a reduction of current dependency on imports is necessary.

Such initiatives have bipartisan support. Democrats are also pushing the way forward as House Speaker Nancy Pelosi spearheaded a climate bill that calls for reducing emissions to zero by 2050; Biden wants to achieve the same goal by 2035 (https://nnw.fm/zqi9x). These goals can only be achieved through increased use of renewable and nuclear energy. Energy Fuels is a leading U.S. producer of the raw materials needed to produce electricity from these sources.

Nuclear power is also seeing bipartisan U.S. support through the American Nuclear Infrastructure Act (ANIA) and the Nuclear Energy Leadership Act (NELA), which lift the prohibition on nuclear funding (https://nnw.fm/J8M93). There is a growing interest in clean nuclear power that reaches beyond party lines, and Energy Fuels appears to be in an ideal spot to benefit from this rare show of support from both sides.

To learn more about the company, please visit www.EnergyFuels.com.

NOTE TO INVESTORS: The latest news and updates relating to UUUU are available in the company’s newsroom at http://nnw.fm/UUUU

About NetworkNewsWire

NetworkNewsWire (NNW) is an information service that provides (1) access to our news aggregation and syndication servers, (2) NetworkNewsBreaks that summarize corporate news and information, (3) enhanced press release services, (4) social media distribution and optimization services, and (5) a full array of corporate communication solutions. As a multifaceted financial news and content distribution company with an extensive team of contributing journalists and writers, NNW is uniquely positioned to best serve private and public companies that desire to reach a wide audience of investors, consumers, journalists and the general public. NNW has an ever-growing distribution network of more than 5,000 key syndication outlets across the country. By cutting through the overload of information in today’s market, NNW brings its clients unparalleled visibility, recognition and brand awareness. NNW is where news, content and information converge.

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SRAX Inc. (NASDAQ: SRAX) CEO and LD Micro President Discuss Impending Synergistic Acquisition as BIGtoken Announces New Additions to Board of Directors

SRAX CEO Christopher Miglino recently joined LD Micro president Chris Lahiji on Stock2Me podcast, discussed SRAX’s recent purchase of LD Micro’s business
SRAX’s Miglino noted that acquisition of LD Micro would allow SRAX’s investor intelligence platform, Sequire, to broaden range of services offered to clients
LD Micro’s Lahiji touched on synergies between businesses, opined that every publicly listed company would be resorting to some form of investor intelligence software within five years
SRAX’s BIGtoken division announced two new additions to its board of directors

SRAX (NASDAQ: SRAX), a financial technology company focused around unlocking data and insights for publicly traded companies through Sequire, its SaaS platform, recently participated in the Stock2Me podcast to elaborate on the company’s recent purchase of micro-cap specialist data company, LD Micro (https://nnw.fm/wPus0). Chris Lahiji, president of LD Micro, and Christopher Miglino, CEO and founder of SRAX, joined the show to discuss the recent acquisition of LD Micro, which will lead LD Micro to continue operating as a wholly owned subsidiary of SRAX with founder Lahiji staying on in his current role as the company’s president.

SRAX CEO Christopher Miglino described the deal as one taking place between two like-minded companies with the end objective of broadening the exposure and level of service offered to their clients. SRAX’s investor intelligence service, Sequire, currently boasts over 105 issuers who actively utilize the platform to gain a better understanding of their shareholder base as well as to connect and interact with new and potential investors. Through the acquisition of LD Micro and its vast universe of public micro-cap issuers as well as the thousands of investors who partake of LD Micro’s services to gain insight into the micro & small-cap listed space, Sequire has sought to combine the inherent synergies offered through the companies’ respective platforms.

“LD Micro was always the best conference that we would go to. We always met the most interesting and notable investors there,” stated Miglino. “As we started to develop our Sequire platform for public companies, we thought it would be a great match to bring that community together with Sequire so that we could help issuers on our platform get more exposure to additional investors. Instead of just presenting to a room of 50 people, companies can present to 10,000 people or 100,000 people or a million people, virtually. We think the combination of technology and physical events is going to do really, really well together.”

Similarly, while LD Micro has long prided itself in hosting the most exclusive micro-cap conference in the United States with thousands of companies vying to meet with the legion of specialized investors in attendance, the tie-up with SRAX will allow the company to broaden its service offerings going forward.

“If you look at what we’ve built at LD, we’ve had a lot of interest over the last 11 or 12 years in getting acquired, but the reality was that every single organization wanted to use the community that we had built for the wrong purposes,” LD Micro president Chris Lahiji stated during the podcast. “Christopher Miglino was the only guy who came to me and essentially asked the right questions and found a way of taking what we had built since 2002 and enhancing it. . . . With SRAX, I have the ability to increase my reach by more than 100-fold without having to sacrifice anything that has been built prior to [the acquisition]. The dynamics that they bring to the table for LD are incalculable.”

Elsewhere, BIGtoken Inc., a division of SRAX which will soon become a separate publicly traded company through a previously-announced merger with Force Protection Video Equipment (“FPVD”), announced its appointment of Daina Middleton and Yin Woon Rani to its board of directors (https://nnw.fm/GdbWb). Following the two new appointments, Middleton and Rani will join SRAX CEO Christopher Miglino and BIGtoken CEO Malcolm CasSelle on the board of the company.

“We are very pleased to have Daina and Yin join our board,” said BIGtoken CEO Malcolm CasSelle. “Daina’s marketing and leadership experience with large corporations like Twitter and HP combined with Yin’s extensive CPG background, having worked at Campbell Soup and the Grey Group agency where she managed accounts with Hasbro, P&G, and M&M, will make the leadership team here at BIGtoken a true powerhouse. BIGtoken is ready to take on the next phase of growth and with our two new board members, we are sure to make a substantial impact in the digital media and data space.”

Upon completion of the transaction with Force Protection Video Equipment Corp (“FPVD”) whereby SRAX will receive 88.9% of the issued and outstanding shares of FPVD in exchange for 100% of the shares of BIGtoken, FPVD will be rebranded as BIGtoken.

For more information on SRAX Inc., visit the company’s website at www.SRAX.com

NOTE TO INVESTORS: The latest news and updates relating to SRAX are available in the company’s newsroom at http://nnw.fm/SRAX

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Pac Roots Cannabis Corp.’s (CSE: PACR) Strategic Business Model Anchors Company in Growing Cannabis Market

Sales of legal adult-use cannabis in Canada grew by 5.2% from July to August, reaching monthly total of CA$244.9 million
PACR committed to preserving excellence of elite strains while introducing highest-quality new strains
Strategic approach has allowed company to be cash-flow positive within first year of trading

With the recent news that Canadian cannabis sales in August reached nearly CA$245 million (https://nnw.fm/VjbV6), Pac Roots Cannabis Corp.’s (CSE: PACR) mission to deliver the finest cannabis genetics to Canadians seems particularly well timed. A Canadian company, PACR is dedicated to producing premium-quality strains and products by leveraging a genetics-focused approach.

According to “Marijuana Business Daily,” sales of legal adult-use cannabis in Canada grew by 5.2% from July to August, reaching a monthly total of CA$244.9 million. The report, which reflected tracked sales in all 10 provinces as well as the Northwest Territories and Yukon, notes that “the monthly record for Canadian marijuana sales implies an annualized market worth more than CA$2.9 billion.”

Those numbers reflect the striking potential of Pac Roots Cannabis Corp., a company whose passion is preserving the excellence of its elite strains while introducing the highest-quality of new strains. PACR achieves these two objectives by keeping both yields and profit margins high. The Company’s strategic business model includes subsidizing costs with key partners: Phenome One Corp. and Rock Creek Farm; this approach has allowed PACR to be cash-flow positive within its first year of trading.

Pac Roots Cannabis Corp. has a licensing agreement with Phenome One that gives PACR access to Canada’s largest live genetic cannabis library, which contains more than 350 lab- and field-tested cultivars. The agreement also provides Pac Roots Cannabis rights to utilize any cultivars in the Phenome library in its growing, breeding and cloning IP efforts.

PACR and Rock Creek Farms are involved in a joint venture: a 100-acre commercial hemp operation located in one of the best outdoor growing climates in Canada. Dubbed the Napa Valley of the North or the Golden Mile, the farm is tucked in the South Okanagan Valley in British Columbia. After receiving a hemp cultivation license from Health Canada in May 2020, cultivation efforts began at the site, including preparing field for planting and installing irrigation systems.

An estimated 130,000 premium-hemp CBD seedlings, which had spent a month in greenhouses prior to planting, were carefully placed across two 50-acre parcels in June. Harvesting is expected to begin this month with a projected yield of 500,000–700,000 pounds of biomass, with 100% of the product already under sales contract with a processor at fair market value.

While some companies strive to be the largest cannabis grower, Pac Roots Cannabis is focused on the quality of the cannabis it produces. Demand for premium products has never been higher, and PACR is committed to maintaining its role as a leader in the premium cannabis space.

Pac Roots Cannabis Corp. began operations in 2012 with initial activities directed toward exploration and development of mineral properties in Canada. The Company’s mission has evolved over time, and today, Pac Roots Cannabis Corp. is focused on cannabis and hemp cultivation, leveraging high-end genetics and specialized cultivars to produce top-quality products. Genetic variation and stability is the foundation that drives the decision-making for Pac Roots Cannabis Corp.’s business.

For more information about Pac Roots Cannabis Corp., visit www.PacRoots.ca.

NOTE TO INVESTORS: The latest news and updates relating to PACR are available in the company’s newsroom at http://nnw.fm/PACR

About NetworkNewsWire

NetworkNewsWire (NNW) is a financial news and content distribution company that provides (1) access to a network of wire services via InvestorWire to reach all target markets, industries and demographics in the most effective manner possible, (2) article and editorial syndication to 5,000+ news outlets (3), enhanced press release services to ensure maximum impact, (4) social media distribution via the Investor Brand Network (IBN) to nearly 2 million followers, (5) a full array of corporate communications solutions, and (6) a total news coverage solution with NNW Prime. As a multifaceted organization with an extensive team of contributing journalists and writers, NNW is uniquely positioned to best serve private and public companies that desire to reach a wide audience of investors, consumers, journalists and the general public. By cutting through the overload of information in today’s market, NNW brings its clients unparalleled visibility, recognition and brand awareness. NNW is where news, content and information converge.

To receive SMS text alerts from NetworkNewsWire, text “STOCKS” to 77948 (U.S. Mobile Phones Only)

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Tuesday, October 27, 2020

Friendable Inc. (FDBL) Is ‘One to Watch’

Friendable Inc.’s Fan Pass app is designed to break down the barrier between artists and fans
The Fan Pass app offers subscribers the opportunity to connect with their favorite artists and access one-of-a-kind experiences, live performances and merchandise created especially for them
With an affordable pricing structure that facilitates revenue growth, Fan Pass provides investors a unique opportunity to obtain a stake in a new organization catering to a growing population of omni-users who crave constant connection with celebrities and influencers
The company has secured a partnership with Brightcove targeting OTT platform expansion, including leaders such as iOS, Android, Apple TV, Android TV, Roku and WWW
Roughly 100 million internet users watch online videos every day, creating a highly lucrative market opportunity for Friendable
The video streaming industry in the United States is expected to reach $7.08 billion in 2021

Friendable Inc. (OTC: FDBL) is a mobile technology and marketing company focused on connecting and engaging users through its proprietary mobile and desktop applications. Launched July 24, 2020, the company’s flagship offering is designed to help artists engage with their fans around the world and earn revenue while doing so. The livestreaming platform supports artists at all levels, providing exclusive artist content ‘Channels,’ LIVE event streaming, promotional support, fan subscriptions and custom merchandise designs, all of which serve as revenue streams for each artist.

With Fan Pass, artists can offer exclusive content channels to their fans, who can use their smartphones to gain access to their favorite artists, as well as an all-access pass to all artists on the platform. Additionally, the Fan Pass team will deploy social broadcasters to capture exclusive VIP experiences, interviews and behind-the-scenes content featuring their favorite artists – all available to fan subscribers on a free trial basis. Subscriptions are billed monthly at $3.99, or about the cost of downloading a couple of songs, and VIP experiences are available at a fraction of the cost of traditional face-to-face meetups.

Friendable Inc. was founded by Robert A. Rositano Jr. and Dean Rositano, two brothers with over 27 years of experience working together on technology-related ventures.

The Fan Pass Mobile & Desktop App

Friendable Inc. launched its Fan Pass platform as a solution for artists and their fans as the COVID-19 pandemic and the associated shutdown have continued to severely hamstring the entertainment industry as a whole. Through Fan Pass, the company aims to reach artists at all levels looking to alter their touring schedules to include ‘Virtual Touring,’ new revenue sources and innovative fan engagement opportunities that are expected to become permanent fixtures of artists’ touring routines moving forward.

Fan Pass creates an ecosystem that embraces fans of all kinds, feeding diehard followers and developing lasting connections with more casual supporters. Through the app, qualified artists are provided with a custom designed, exclusive ’Fan Pass Channel’ where they can invite fans and social followers from anywhere around the world to join in chats and live events – allowing fans to experience all there is to see of an artist in one place. Artists earn revenue from monthly fan subscribers, merchandise sales, tickets sold for virtual streaming events and generally from all content views or impressions on their channels. All content views and sales of every kind are reported to each artist through their dashboards, including real-time payout and earnings information.

Fan Pass’ exclusive ‘All Access VIP’ option provides fans with access to content, such as:

Live performances or online concerts
Backstage meetups before, during or after events
Livestreams of studio sessions
Behind-the-scenes footage of music video and photo shoots
Special interviews and one-on-one videos
Streams highlighting the artists’ daily lives

The Fan Pass platform is extremely intuitive, bringing each artist through a streamlined onboarding process, including building out artist ‘Channels’, scheduling LIVE events and designing special edition merchandise to be offered solely through exclusive Fan Pass merchandise stores.

“With the global pandemic disrupting the entertainment industry in such a profound way, artists have had to look to digital distribution and live virtual performances in order to maintain any earning opportunities. Fan Pass and our team are determined to provide solutions and support to all artists, their fans and the industry in general. We are excited about the opportunity we have to shape the future of virtual entertainment, revenue generation and artist/fan engagement,” Robert A. Rositano Jr., CEO of Friendable Inc., stated in a news release.

Market Opportunity

Artists rely heavily on revenue streams that are not often seen by those without intimate industry knowledge. When it comes to traditional performances, the sale of VIP/backstage or meet & greet passes to boost revenue can often become the majority of the artist’s annual tour revenue. Data provided by one of the company’s original entertainment partners, The Kluger Agency (TKA), suggests that as much as 18-23% of artists’ annual tour revenue has historically been derived from these VIP experiences.

The World Economic Forum reports that, in 2020, the six-month-plus disappearance of live music concerts is estimated to have cost “the industry more than $10 billion in sponsorships,” and individual artists are feeling the loss the most. Fan Pass is helping to bridge this gap, providing more affordable virtual VIP experiences that can be offered simultaneously to fans around the world.

While it’s free for artists to join, Fan Pass leverages a monthly subscription model paid by fans to generate revenues. These revenues are shared with all channel artists. In exchange for its platform features, live streaming tools, bandwidth, processing and handling, Fan Pass earns platform fees on each separately ticketed event, as well as splits with each artist on subscriber fees and merchandise designed and sold on the platform.

The U.S. video streaming industry is expected to hit $7.08 billion in value in 2021, with an estimated 100 million internet users watching online video content every day, according to data from Livestream.com. The same report suggests that 45% of live video audiences would pay for exclusive, on-demand video from a favorite team, speaker or performer. Through Fan Pass, Friendable Inc. is uniquely positioned to capitalize on this opportunity.

Friendable App

The company’s second application, Friendable, is an all-inclusive platform where users can meet, chat and date. The app has exceeded 1.5 million total downloads, with over 900,000 historical registered users and more than 580,000 historical user profiles.

Friendable Inc.’s Next Phase of Growth

To facilitate its next phase of growth, Friendable Inc. is seeking an additional $1 million in equity investment, with a follow-on funding that meets or exceeds $5 million. The company intends to utilize its relationships to secure the lowest cost of capital available, as these funds will drive technology advancements, increase head count, fund marketing initiatives and secure additional celebrity talent aimed at bringing larger fan audiences to each released event. These initiatives will assist in building recurring monthly (fan) subscribers, effectively generating recurring monthly revenue for each artist, as well. The next phase of growth is expected to play a key role in accelerating the company’s download and conversion of data for subscription revenue and merchandise sales.

The company’s primary goal is to establish Fan Pass as a premier brand and mobile platform dedicated to connecting and engaging users around the world. In support of this goal, it has entered into a partnership with Brightcove targeting OTT platform expansion, including leaders such as iOS, Android, Apple TV, Android TV, Roku and WWW.

In the highly competitive video streaming market, Friendable Inc. has tapped into an unmet demand from today’s ever-present ‘omni-users’ for constant contact with celebrities and influencers. Via Fan Pass, the company offers investors an opportunity to gain a stake in an organization catering to this new breed of omni-users and their influencers.

The application’s potential is clearly illustrated by the interest it has generated in recent weeks. From September 4 to October 12, the Fan Pass platform added 246 new artists, accounting for a 410 percent increase in just six weeks.

“We are extremely encouraged by the ongoing swell of interest as the value of our Fan Pass platform continues to resonate in the artist community,” Friendable CEO Robert A. Rositano Jr. stated in a news release. “We believe the live streaming functionality, our full-circle offering and diverse revenue opportunities the platform offers will continue to drive exponential growth as management remains focused on building long-term shareholder value.”

Management Team

Robert A. Rositano Jr. is the co-founder and CEO of Friendable Inc. He oversees the daily management and operational duties of all areas of the business. He has over 20 years of experience as a serial entrepreneur, bringing in over $60 million in liquidity events for the companies he has created or managed. Before starting Friendable Inc. with his brother, Rositano was a founding member of the internet’s first IPO, Netcom Online Communications Inc. It was sold to ICG, then to EarthLink in 1995. He has been a co-founder of several successful ventures, including Simply Internet Inc., Nettaxi.com and America’s Biggest Inc., among others. He also authored one of the first web directories for MacMillan Publishers.

Dean Rositano is the co-founder and Chief Technology Officer of Friendable Inc. He handles the day-to-day operations and guides the technical direction of the company. He has over 15 years of executive management, financial management, high technology operations and internet architecture experience. Before co-founding Friendable Inc., Rositano co-founded several other companies, including Checkmate Mobile Inc. and Latitude Venture Partners LLC, among others.

For more information, visit the company’s website at www.Friendable.com.

NOTE TO INVESTORS: The latest news and updates relating to FDBL are available in the company’s newsroom at https://nnw.fm/FDBL

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