UA Multimedia
Announces Reorganization and Business Update
Irvine, CA
-- October
25, 2018 --
InvestorsHub NewsWire -- UA Multimedia, Inc.
(OTC: UAMM),
a
solution provider of cannabis ancillary
products and
services, today
announces update of its
reorganization effort and business plan.
Due to the slow
development in the cannabis industry and prolong weakness of the
crypto sector, the Company had made a few adjustments
to its
business plan. The development efforts on several
previously
announced applications and
crypto ecosystem had been put on hold temporarily.
For the
near future, the Company plans to focus on three main applications,
advertising portal, dating and online store.
Due to limited
traction, the Cannaxa.com site has been taken down and some of its
features are being integrated into MJCircle.com. In addition to
being an advertising portal, MJCircle
will
allow users to post their profiles and interact
with
other service providers or customers.
The Company
recognizes that there is a large population of like minded
individuals in the cannabis sector and as such it has initiated
development effort on a dating application that will allow these
individuals to socialize and connect. The application will be
available on the desktop as well as mobile devices.
Soft launch
of the
platform is tentatively
scheduled before year end.
Development effort
for the online store, CannaMedi.com, has been initiated and the
site is expected to go live before the end of the quarter.
CannaMedi will offer for sale
various pain relief
and wellness related
products that are CBD based.
"The development of
the cannabis industry and adaptation of the crypto technology have
not materialized as we anticipated so it was necessary for us to
reorganize and refocus our efforts for the near
term. Once
launched,
we expect the three
applications
to
attract large number of users resulting in strong revenue streams
for UA Multimedia," commented Michael
Lajtay,
President and interim CEO.
About UA Multimedia,
Inc.
UA Multimedia, Inc.
is a solution provider
of cannabis ancillary products and services. The Company currently
own and maintains a classified ads
portal, MJCircle.com,
with a
dating application and online store under development.
Company
website: http://www.uammedia.com
Cannabis
classified ads
website:
http://www.mjcircle.com
Facebook:
https://www.facebook.com/uammedia, https://www.facebook.com/mjcircleads,
Twitter:
https://twitter.com/MJCircleAds
Forward Looking
Statements:
This release contains
forward-looking statements within the meaning of Section 27a of the
Securities Act of 1933, as amended and section 21e of the
Securities and Exchange Act of 1934, as amended. Those statements
include the intent, belief or current expectations of the company
and its management team. Some or all of the events or results
anticipated by these forward-looking statements may not occur.
Prospective investors are cautioned that any such forward-looking
statements are not guarantees of future performance and involve
risks and uncertainties, and that actual results may differ
materially from those projected in the forward-looking statements
as a result of various factors. Accomplishing the strategy
described herein is significantly dependent upon numerous factors,
many that are not in management's control. UA Multimedia, Inc. does
not undertake any duty nor does it intend to update the results of
these forward-looking statements.
Contact
UA Multimedia,
Inc.
Investor
Relations
949.612.1927
info@uammedia.com