LOS ANGELES, Dec. 27, 2019 /PRNewswire/ -- SRAX, Inc. (Nasdaq:
SRAX), a digital marketing and consumer data management technology
company, has extended the expiration time for its special dividend
right from December 31, 2019 to on or
before 5:00 p.m., ET, on December 31, 2020.
Special Dividend, Dividend Right and Expiration Date
On September 17, 2018, the company
issued a non-transferable right ("Dividend Right") to receive at no
charge a special dividend to holders of the company's Class A
common stock as well as certain holders of the company's common
stock equivalents. If and when declared, the Special Dividend
consisting of such number and designation of the SRAX subsidiary
BIGtoken, Inc.'s securities ("Special Dividend") as determined by
the company's management at their sole discretion. The Dividend
Right was set to expire on or before 5:00
p.m., ET, on December 31,
2019, unless extended by the Company (the "Expiration
Time"). The Dividend Right will now expire if the Special Dividend
is not declared on or before 5:00 p.m.,
ET, on December 31, 2020,
unless further extended by the company.
The Special Dividend will be an analog security, i.e., not
digital, and not a cryptocurrency, and the Special Dividend is
expected to be a fractional non-voting security that, if and when
issued, is expected to only participate in a portion of the
financial performance of the BIGtoken platform.
Transfer Agent and Questions
For further questions
regarding the Dividend Right, please contact the information agent
at:
Transfer Online,
Inc.™
512 SE Salmon St., Portland, OR
97214
+1 (503) 227-2950
Advisement
This press release shall not constitute an
offer to sell, or the solicitation of an offer to buy any of the
securities described herein, nor shall there be any sale of these
securities in any state or jurisdiction in which such an offer,
solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of any such state or
jurisdiction. Any term or condition contained in this press
release, other than the claim that the Special Dividend will be
analog and not digital, nor a cryptocurrency, is made based on the
Company's information, beliefs and anticipated development as of
the date hereof. The Company reserves that right to alter,
modify, or change any other term herein based on future
developments.
THE DECLARATION AND ISSUANCE OF THE SPECIAL DIVIDEND IS SUBJECT
TO SUBSTANTIAL STATE AND FEDERAL REGULATION AS WELL AS THE POSSIBLE
APPROVAL OF ANY EXCHANGE ON WHICH THE SHARES OF SOCIAL REALITY,
INC. ARE TRADED. ACCORDINGLY, WE CAUTION ANY HOLDER THAT THE
SPECIAL DIVIDEND MAY NEVER BE DECLARED AND EVEN IF DECLARED,
ULTIMATELY MAY NOT BE ISSUE. THE HOLDER IS CAUTIONED TO NOT
PLACE ANY RELIANCE UPON ITS ABILITY TO RECEIVE THE SPECIAL DIVIDEND
IN THE FUTURE OR THE VALUE, IF ANY, THAT SUCH SPECIAL DIVIDEND MAY
HAVE.
About SRAX
SRAX (NASDAQ: SRAX) is a digital marketing
and consumer data management technology company. SRAX's technology
unlocks data to reveal brands' core consumers and their
characteristics across marketing channels. Monetizing its data
sets, SRAX is growing multiple recurring revenue streams through
its various platforms. Through its BIGtoken platform, SRAX has
developed a consumer-managed data marketplace where people can own
and earn from their data thereby offering everyone in the Internet
ecosystem choice, transparency, and compensation. SRAX's tools
deliver a digital competitive advantage for brands in the CPG,
automotive, investor relations, luxury, and lifestyle verticals by
integrating all aspects of the advertising experience, including
verified consumer participation, into one platform. For more
information on SRAX, visit www.srax.com.
About BIGtoken
BIGtoken, built by SRAX (NASDAQ: SRAX),
is a consumer data management and distribution system. BIG is the
first consumer-managed data marketplace where people can own and
earn from their data. Through a transparent platform and consumer
reward system, BIG offers consumers choice, transparency, and
compensation for their data. Participating consumers earn rewards,
and developers are able to build pro-consumer online experiences on
top of the BIG platform. The system also provides advertisers and
media companies access to transparent, verified consumer data to
better reach and serve audiences. For more information on BIGtoken,
visit www.bigtoken.com.
Safe Harbor Statement
This press release contains
certain forward-looking statements that are based upon current
expectations and involve certain risks and uncertainties within the
meaning of the U.S. Private Securities Litigation Reform Act of
1995. Words or expressions such as "anticipate," "plan," "will,"
"intend," "believe" or "expect'" or variations of such words and
similar expressions are intended to identify such forward-looking
statements. These forward-looking statements are not guarantees of
future performance and are subject to risks, uncertainties, and
other factors, some of which are beyond our control and difficult
to predict and could cause actual results to differ materially from
those expressed or forecasted in the forward-looking statements,
including, without limitation, statements made with respect to
expectations of our ability to increase our revenues, satisfy our
obligations as they become due, report profitable operations and
other risks and uncertainties as set forth in our Annual Report on
Form 10-K for the year ended December 31,
2018, and our subsequent Quarterly Reports on Form 10-Q as
filed with the Securities and Exchange Commission. All
forward-looking statements involve significant risks and
uncertainties that could cause actual results to differ materially
from those in the forward-looking statements, many of which are
generally outside the control of SRAX and are difficult to predict.
SRAX undertakes no obligation to publicly update any
forward-looking statements, whether as a result of new information,
future events or otherwise.
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SOURCE SRAX, Inc.