UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
_______________
Form 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
Date of Report (date of earliest event reported):
January 29, 2015
Adaptive Medias, Inc.
(Exact name of registrant as specified
in its charter)
000-54074
(Commission File Number)
Nevada |
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26-0685980 |
(State or other jurisdiction |
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(I.R.S. Employer |
of Incorporation) |
|
Identification No.) |
16795 Von Karman Ave., #240
Irvine, CA 92606
(Address of principal executive offices)
949-525-4466
(Registrant’s telephone number,
including area code)
Check the appropriate box below if the Form 8-K filing is intended
to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General
Instruction A.2. below):
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¨ |
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
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¨ |
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
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¨ |
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
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¨ |
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c) |
Item 7.01 |
Regulation FD Disclosure. |
On January 29, 2015,
Adaptive Medias, Inc., a Nevada corporation (the “Company”), issued a press release announcing that Acting Chief Operating
Officer, Jim Waltz, has issued a special letter to the Company’s shareholders to provide an update on the current status
of the Company and to offer management’s view of the Company’s growth strategy and prospects. A copy of the press release
is filed herewith as Exhibit 99.1.
Item 9.01 |
Financial Statements and Exhibits. |
(d) Exhibits
|
|
Exhibit No. |
Description |
99.1 |
Press Release dated January 29, 2015 |
SIGNATURE
Pursuant to the requirements of the Securities
Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
Date: January 29, 2015 |
ADAPTIVE MEDIAS, INC. |
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/s/ Jim Waltz |
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Jim Waltz
Acting Chief Operating Officer |
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Exhibit 99.1
ADAPTIVE MEDIAS EXPECTS ACCELERATED GROWTH
AND OUTLINES EXPANSION
STRATEGY IN SPECIAL LETTER TO SHAREHOLDERS
IRVINE, California, January
29, 2015 - - Content syndication and monetization company, Adaptive Medias, Inc. (OTCQB: ADTM), a leader in programmatic advertising
across mobile, video and online display, today announced that Acting Chief Operating Officer, Jim Waltz, has issued a Special Letter
to Shareholders to update investors on the current status of the Company and, more importantly, to offer management’s view
of the Company’s growth strategy and prospects going forward. The text of the letter follows:
“Dear Valued Shareholder:
I am writing to you in my
new role as Acting Chief Operating Officer of Adaptive Medias. Our strategy to deliver the best end to end video solution remains
intact. Over the past 18 months, the company has experienced impressive growth -- both in our client base and top-line revenue.
As we continue to develop our proprietary technology platform and expand into new advertising channels, we are well positioned
to take advantage of several key trends in digital media such as the rapid growth of mobile, video and programmatic advertising.
First, a note about my current
role. As the Acting Chief Operating Officer, I will oversee all financial and operational activities at Adaptive Medias, taking
over for the company’s former Chief Executive Officer, until a replacement has been appointed. I bring over 20 years of high-level
experience in the advertising-technology sector to support the company’s expansion strategy, having previously served as
the President of Traffic MarketPlace, Chief Executive Officer at AdModus and Vice President of Sales at DoubleClick. Although I
will maintain my current position as the Chief Executive Officer of Beanstock Media, I will be spending the majority of my time
and efforts with Adaptive Medias.
Fourteen months ago, Adaptive Medias
completed its merger with Mimvi to become a publicly traded company. At the time, we had fewer than 50 clients and our quarterly
revenues were approximately $0.6 million. Since that time we’ve grown substantially and achieved a number of important milestones.
Our key achievements over the past year
include:
| · | Commercial launch
of our new technology platform: We completed the build out and testing of our unique end-to-end video technology platform and
successfully launched it to the market in September. ADTM stands alone with its fully-integrated independent one-stop shopping
solution for customers seeking to generate revenues from digital video content. The unified platform not only eliminates the administrative
hassles of working with multiple vendors, it eliminates technical hassles that come with integrating disparate technologies. |
| · | New Customers:
We’ve grown accounts from 50 to nearly 250 within the past
fourteen months, a 400% increase. One of our goals for 2014 was to begin working with some of the largest digital publishers in
the US as rated by Comscore. Last year, we signed several contracts with some of the biggest blue chip publishers and content providers
in a variety of verticals including: Finance, Automotive, Entertainment, News, Hispanic and more. We believe the engagement of
key market leaders in the above verticals supports our value proposition to the market and will accelerate sales to new customers. |
| · | Seven consecutive
quarters of sequential revenue growth: We’ve posted consistent revenue growth even while we were still building and testing
our new technology platform. In 3Q14, ended September 2014, ADTM reported revenue of $1.4 million, up from $1.1 million in 2Q14
and from $0.7 million in 1Q14. With the November 2014 launch of a full marketing campaign to support our new technology platform,
we are working to maintain or even accelerate this growth rate. |
| · | Strengthened
Balance Sheet: Adaptive Medias raised $5.2 million in September to help support our business expansion strategy in the coming
year. |
Company Sees Accelerated Growth in 2015
Our primary goal for 2015 is to continue
to grow our client base. Our business development efforts are focused on three main areas:
| · | Signing content
providers to syndication and monetization deals – increased content will attract both publishers and advertisers to ADTM. |
| · | Signing publishers
onto our platform. |
| · | Driving advertising
demand or fulfillment through our platform – While ADTM does not require its customers to buy their advertising through its
platform, the Company believes that it will be able to demonstrate strong returns on advertising spend relative to its competition,
which will migrate more advertising spend to its in-house platform. |
With the recent launch of our
new technology platform, our expenses are expected to grow more modestly going forward. As a result, operating profits are expected
to grow as the Company moves toward profitability.
Communicating our Story to the Investment
Community
Finally, a few words about
our investor outreach efforts. As noted, the past 18 months have been about establishing and positioning the business for sustainable
growth. Now, we want to showcase our achievements more effectively to the investment community. To do so, we are highly focused
on improving our investor relations with proactive and consistent outreach and communication. We look forward to keeping you updated
on our progress.
Sincerely,
/s/ Jim Waltz
Jim Waltz
Acting Chief Operating Officer
Adaptive Medias, Inc.”
ABOUT
ADAPTIVE MEDIAS, INC.
Adaptive
Media is a programmatic audience and content monetization provider for website owners, app developers and video publishers who
want to more effectively optimize content through advertising. The Company provides a foundation for publishers and developers
looking to engage brand advertisers through a multi-channel approach that delivers integrated, engaging and impactful ads across
multiple devices. Adaptive Media meets the needs of its publishers with an emphasis on maintaining user experience, while delivering
timely and relevant ads through its multi-channel ad delivery and content platform. For more information, please visit www.adaptivem.com.
Also, follow them on Twitter @adaptive_m.
This
Press Release may contain certain forward-looking statements within the meaning of the Securities Litigation Reform Act of 1995.
Adaptive Medias, Inc. has tried, whenever possible, to identify these forward-looking statements using words such as "anticipates,"
"believes," "estimates," "expects," "plans," "intends," "potential"
and similar expressions. These statements reflect Adaptive Medias' current beliefs and are based on information currently available
to it. Accordingly, such forward-looking statements involve known and unknown risks, uncertainties and other factors which could
cause Adaptive Medias' actual results, performance or achievements to differ materially from those expressed in or implied by such
statements. Adaptive Medias undertakes no obligation to update or provide advice in the event of any change, addition or alteration
to the information contained in this Press Release including such forward-looking statements.”
Investor Contact:
AJ Homayun
ahomayun@irpartnersinc.com
818-280-6800
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