BETHLEHEM, Pa., Oct. 20, 2021 /PRNewswire/ -- Vinco Ventures
(NASDAQ: BBIG) / - Vinco Ventures and ZASH update: One of the
first courses of action of the new Vinco
Venture board is to change the name of Vinco Ventures to
ZASH. ZASH will represent all of the companies moving forward.
- Christopher Ferguson, the
former CEO of Vinco Ventures, has agreed to a three year deal to
serve as senior strategic advisor with parent company ZASH
- Brett Vroman, the former CFO
of Vinco Ventures, has been appointed CFO of Cryptyde, a wholly
owned subsidiary of Vinco Ventures
- The movement of the record date for the spin off of
Cryptyde, a wholly owned subsidiary of Vinco Ventures, is intended
to allow for the spin off to be a tax free exchange and all
dividend shares will be free trading at the time of dividend, which
the company believes will create the greatest shareholder value for
current Vinco shareholders
- All former Officers and Directors of Vinco Ventures remain
as part of the executive and management leadership team of Cryptyde
within the ZASH family of companies and ecosystem
- Lisa King was voted in as CEO
of Vinco Ventures with over 62 percent of votes collected on
October 14th. She will
oversee all facets of all companies within the ZASH ecosystem on a
day to day operational role
- Steve Garrows was also voted in as President and COO of
Vinco Ventures on October 14th and
will report directly to Lisa King on
all operations in the ZASH ecosystem.
The transition between CEO's could not have gone smoother. Said
Ferguson, "Working closely with Lisa over the last several months,
I have grown to gain a great deal of respect for her acute ability
and admire her executive leadership skills that she displays within
the company. I personally feel the Vinco Ventures shareholders
could not be in better hands than with Lisa
King at the helm of Vinco Ventures. We're happy to have
mapped out over the last several months seamless transitions that
align executive talent with roles designed to drive each individual
business forward and expand revenue streams through all the ZASH
companies.
"It really is amazing looking back over the last several months
at how fast and quick we have grown ZASH into one of the most
respected and disruptive media and entertainment companies in the
world. It is very rare to see in any type of business transaction
in the world today with a management team from both companies get
along so well that they continue on the path and the journey
together. This path forward now, with all the new management
aligned within the ZASH ecosystem, and having the privilege to own
Lomotif, one of the top 10 competitors to TikTok, and with the
newly binding LOI with Adrizer, the advertising platform, as well
as the AdRizer social media accelerator platform, I honestly
believe the sky is the limit." said ZASH Chairman and Co-Founder
Ted Farnsworth.
ZASH recently completed the acquisition of Lomotif through
a joint venture between ZASH and Vinco Ventures, known as ZVV Media
Partners, LLC. Upon closing of the merger between ZASH and Vinco,
ZASH will be a public company and controlling shareholder of Vinco,
making Lomotif one of the top global, pure play video-sharing
social networking platforms to be owned by a U.S. publicly traded
company, competing with TikTok and Kuaishou in the space. Lomotif
is one of the fastest growing video-sharing social networking
platforms in its category over the last three years, with 225+
million installations of the Lomotif app globally in over 200
countries in 300+ languages. Over 300 million videos are watched on
the platform per month and over 10 billion atomic clips (User
Generated Content (UGC)) have been used to create more than 750
million videos on the platform since its launch.
About ZASH Global Media and Entertainment Corporation
ZASH Global Media and Entertainment Corporation is an evolving
network of synergetic companies working together to disrupt the
media and entertainment industry as we know it today. The ZASH team
is managed by a group of smart, if not somewhat brazen, consummate
disrupters. ZASH believes its management team has an exceptional
and unparalleled ability to pivot because their knowledge and
experience is steadfast and unyielding. For additional information
about ZASH Global Media and Entertainment Corporation, please visit
ZASH's website at www.zash.global.
About Vinco Ventures, Inc.
Vinco Ventures, Inc. (BBIG) is a selective acquisitions company
focused on digital media and content technologies. Vinco's B.I.G.
(Buy. Innovate. Grow.) Our strategy is seeking out acquisition
opportunities that are poised for scale and will BE BIG. For more
information visit Investors.vincoventures.com.
Forward-Looking Statements and Disclaimers
To the extent any statements contained in this press release
contains "forward-looking statements" as defined in the Private
Securities Litigation Reform Act of 1995 and the information that
are based upon beliefs of, and information currently available to,
the company's management as well as estimates and assumptions made
by the company's management. These statements can be identified by
the fact that they do not relate strictly to historic or current
facts. When used in this presentation the words "estimate,"
"expect," "intend," "believe," "plan," "anticipate," "projected"
and other words or the negative of these terms and similar
expressions as they relate to the company or the company's
management identify forward-looking statements. Such statements
reflect the current view of the company with respect to future
events and are subject to risks, uncertainties, assumptions and
other factors relating to the company's industry, its operations
and results of operations and any businesses that may be acquired
by the company. Should one or more of these risks or uncertainties
materialize, or the underlying assumptions prove incorrect, actual
results may differ significantly from those anticipated, believed,
estimated, expected, intended, or planned. Although the company
believes that the expectations reflected in the forward-looking
statements are reasonable, the company cannot guarantee future
results, performance, or achievements. Except as required by
applicable law, including the security laws of the United States, the company does not intend
to update any of the forward-looking statements to conform these
statements to actual results.
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SOURCE ZASH Global Media and Entertainment