Vinco Ventures, Inc. (NASDAQ:BBIG), a digital media, advertising
and content technologies holding company (“Vinco Ventures,”
“Vinco,” or the “Company”), today announced its results for the
first quarter ended March 31, 2022.
“Vinco continues to execute our plan to grow
into a global content driven ecosystem focused on our core pillars:
enrich our communities as we engage, endorse and entertain," said
Vinco CEO Lisa King. “During the first quarter of 2022, we
completed our acquisition of AdRizer, which represents one of the
core pillars of our strategy to monetize traffic throughout the
digital media spectrum and across the Vinco ecosystem. Also, during
the quarter we continued our efforts to promote and expand the user
base of our Lomotif app and related digital properties as we
livestreamed Shaq’s Fun House event in February and the Okeechobee
Music Festival in March. Live events like these allow Lomotif users
around the world to enjoy distinctive, real-time events and enhance
our efforts to engage, endorse, and entertain across platforms. I
am very pleased with the progress we made during the quarter.”
Operational Highlights:
-
Vinco Ventures completed the acquisition of AdRizer LLC, a provider
of technology solutions that automate the use of artificial
intelligence for digital advertising analytics and programmatic
media buying, on February 11, 2022, for consideration consisting of
$38 million in cash paid at closing and up to 10 million shares of
common stock of the Company issuable on January 1, 2024, with
certain leak-out restrictions.
-
Live-streamed the Okeechobee Music and Arts Festival on March 3-6,
2022 on the Lomotif platform. Over the three-day festival, the live
stream registered 7.2 million active users on Lomotif according to
Google Analytics and generated 16 million visitors on Lomotif media
sites. Lomotif for the first time broke into the top 50 downloaded
social apps in the U.S. market in the Apple Store alone during the
festival, boosting our effort to expand in the U.S. market. Of the
7.2 million users who streamed the concert, 86% of the traffic came
from YouTube through the Company’s AdRizer platform promoting the
festival.
-
Live-streamed Shaquille O'Neal’s Big Game Weekend Party “Shaq's Fun
House” on the Lomotif platform via an exclusive distribution
arrangement with Insomniac, a producer of top music festivals and
events.
- The Company set a Record Date of
May 18, 2022, for its planned spin-off of Cryptyde with the
expected Distribution Date of May 27, 2022.
First Quarter
2022 Financial
Highlights:
-
Revenue increased 349.7% from the first quarter of 2021 to $11.5
million reflecting the impact of the inclusion of AdRizer from its
acquisition date of February 11, 2022.
-
Cash, cash equivalents, and restricted cash totaled $210.8 million
at March 31, 2022.
- Unrestricted cash at March 31, 2022
of $130.8 million.
-
Selling, general and administrative expenses from continuing
operations were $26.8 million compared to $11.7 million in first
quarter of 2021, an increase of $15.1 million. Of this increase,
$10.4 million was due to higher legal, professional and transaction
costs primarily associated with the Company’s acquisition of
AdRizer. The remaining increase reflects the expanded size and
scope of the Company since the first quarter of 2021, including an
increase of $4.4 million in advertising, marketing and promotion
costs as the Company continues to invest in building market
awareness of Lomotif, and an increase of $5.2 million in
compensation costs, which reflects the increase in headcount over
the past year as the Company has grown internally and through the
acquisition of AdRizer as well as the consolidation of the
compensation costs of Lomotif since July 2021.
-
Total other income and expenses in the first quarter of 2022 were a
net expense $352.9 million as compared to a net expense of $51.5
million in the first quarter of 2021. Similar to recent quarters,
the significant increase in net other expense is due to the impact
of the requirement that the Company classify its warrants to
purchase shares of its common stock as a liability upon issuance on
its consolidated balance sheets as these warrants are a
free-standing financial instrument that may require the Company to
transfer consideration upon exercise. Each warrant is initially
recorded at fair value on the date of issuance using the
Monte-Carlo simulation pricing model and subsequently re-measured
to fair value at each subsequent balance sheet date. Losses on
issuance and changes in fair value of outstanding warrants are
recognized as a component of net other income (expense) in the
consolidated statement of operations and comprehensive loss. The
Company will continue to adjust the liability for changes in fair
value until the earlier of the exercise or expiration of the
warrants. During the first quarter of 2022, loss on issuances of
warrants was $243.7, while the change in in fair value of the
Company’s liability for its outstanding warrants as of March
31,2022 resulted in an expense of $86.9 million.
- Net
loss in first quarter 2022 was $372.9 million, or ($3.05) per basic
and diluted share, compared to a net loss of $62.5 million, or
($3.28) per basic and diluted share in the first quarter of 2021.
The increase in net loss primarily resulted from the impact of the
net other expense of $330.6 million resulting from the warrant
accounting requirements described above which accounted for 87% of
the Company’s net loss in the first quarter of 2022 as well as
transaction costs associated with the Company’s acquisition of
AdRizer. Otherwise, the Company’s loss reflects the increase in the
size and scope of the Company as it focuses on building its global
digital media business.
Vinco Ventures, Inc. First
Quarter 2022 Conference
Call
Event Date: May 23, 2022
Event Time: 4:30 PM Eastern Standard Time
The audio conference call can be accessed
through:
1- 877-407-2991 (U.S. participants)1- 201-389-0925
(International participants)
A live and archived webcast presentation will be
available at: https://investors.vincoventures.com/.
Conference Replay:
A teleconference replay will be available until May 30, 2022.1-
877-660-6853 (U.S. participants)1-201-612-7415 (International
participants)Passcode: 13730262
Vinco Ventures, Inc. and
SubsidiariesCONDENSED CONSOLIDATED BALANCE
SHEETS(Unaudited)
|
|
March 31,2022 |
|
|
December 31,2021 |
|
|
|
|
|
|
|
|
Assets* |
|
|
|
|
|
|
|
|
Current assets: |
|
|
|
|
|
|
|
|
Cash and cash equivalents |
|
$ |
130,779,948 |
|
|
$ |
87,612,176 |
|
Restricted cash - short term |
|
|
- |
|
|
|
100,000,000 |
|
Short-term investments |
|
|
220,000 |
|
|
|
178,000 |
|
Accounts receivable, net |
|
|
9,117,096 |
|
|
|
1,124,421 |
|
Inventory, net |
|
|
447,636 |
|
|
|
475,666 |
|
Prepaid expenses and other current assets |
|
|
10,659,851 |
|
|
|
10,403,401 |
|
Loans held-for-investment- current portion |
|
|
11,600,000 |
|
|
|
3,950,000 |
|
Due from related party |
|
|
19,600,584 |
|
|
|
15,997,803 |
|
Total current assets |
|
|
182,425,115 |
|
|
|
219,741,467 |
|
|
|
|
|
|
|
|
|
|
Restricted cash long-term |
|
|
80,000,000 |
|
|
|
- |
|
Property and equipment,
net |
|
|
1,785,226 |
|
|
|
1,376,751 |
|
Right of use assets, net |
|
|
133,310 |
|
|
|
168,914 |
|
Loan held-for-investment |
|
|
750,000 |
|
|
|
250,000 |
|
Loan held-for-investment -
related parties |
|
|
13,500,000 |
|
|
|
20,500,000 |
|
Intangible assets, net |
|
|
39,009,383 |
|
|
|
40,525,453 |
|
Goodwill |
|
|
180,419,932 |
|
|
|
121,580,144 |
|
Cost method investments |
|
|
1,000,000 |
|
|
|
1,000,000 |
|
Other assets |
|
|
1,655,742 |
|
|
|
- |
|
Total assets |
|
$ |
500,678,709 |
|
|
$ |
405,142,729 |
|
|
|
|
|
|
|
|
|
|
Liabilities and
stockholders’ equity |
|
|
|
|
|
|
|
|
Current liabilities: |
|
|
|
|
|
|
|
|
Accounts payable |
|
$ |
11,554,079 |
|
|
$ |
6,105,963 |
|
Accrued expenses and other current liabilities |
|
|
10,600,949 |
|
|
|
19,516,308 |
|
|
|
|
|
|
|
|
|
|
Current portion of operating lease liabilities |
|
|
77,231 |
|
|
|
100,733 |
|
Current portion of convertible notes payable, net of debt issuance
costs of $13,343,030 and $68,911,823, respectively |
|
|
19,769,795 |
|
|
|
44,238,177 |
|
Current portion of notes payable |
|
|
- |
|
|
|
15,530 |
|
Current portion of notes payable - related parties |
|
|
112,835 |
|
|
|
112,835 |
|
Total current liabilities |
|
|
42,114,889 |
|
|
|
70,089,546 |
|
|
|
|
|
|
|
|
|
|
Operating lease liabilities,
net of current portion |
|
|
58,713 |
|
|
|
70,514 |
|
Convertible notes payable -
related parties, net of current portion |
|
|
2,500,000 |
|
|
|
2,500,000 |
|
Notes payable -related
parties, net of current portion |
|
|
108,923 |
|
|
|
121,037 |
|
Convertible notes payable, net
of current portion, net of debt issuance costs of $35,491,435 and
$0, respectively. |
|
|
44,399,079 |
|
|
|
- |
|
Derivative liability |
|
|
429,167,462 |
|
|
|
198,566,170 |
|
Deferred tax liability |
|
|
108,420 |
|
|
|
108,420 |
|
Deferred acquisition purchase
price |
|
|
23,250,000 |
|
|
|
- |
|
Total Liabilities |
|
$ |
541,707,486 |
|
|
$ |
271,455,687 |
|
|
|
|
|
|
|
|
|
|
Commitments and contingencies
(Note 14) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Stockholders’ equity
(deficit) |
|
|
|
|
|
|
|
|
Common stock, $0.001 par
value, 250,000,000 shares authorized; 188,052,593 and 150,118,024
shares issued and outstanding as of March 31, 2022 and December 31,
2021, respectively |
|
$ |
188,053 |
|
|
$ |
150,118 |
|
Additional paid-in
capital |
|
|
1,053,407,146 |
|
|
|
850,096,635 |
|
Accumulated deficit |
|
|
(1,109,769,797 |
) |
|
|
(736,821,840 |
) |
Total stockholders’ equity (deficit) attributable to Vinco
Ventures, Inc. |
|
|
(56,174,598 |
) |
|
|
113,424,913 |
|
Noncontrolling interest |
|
|
15,145,821 |
|
|
|
20,262,129 |
|
Total stockholders’ equity (deficit) |
|
|
(41,028,777 |
) |
|
|
133,687,042 |
|
Total liabilities and stockholders’ equity (deficit) |
|
$ |
500,678,709 |
|
|
$ |
405,142,729 |
|
Vinco Ventures, Inc. and
SubsidiariesCONSOLIDATED STATEMENTS OF
OPERATIONS(Unaudited)
|
|
Three Months Ended March 31, |
|
|
Period over Period Change |
|
|
|
2022 |
|
|
2021 |
|
|
$ |
|
|
% |
|
Revenue |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Consumer
products |
|
$ |
3,757,552 |
|
|
$ |
2,153,306 |
|
|
$ |
1,604,246 |
|
|
|
74.5 |
% |
Digital advertising
and media revenue |
|
|
7,726,369 |
|
|
|
350,566 |
|
|
|
7,375,803 |
|
|
|
2104.0 |
% |
Royalty
income |
|
|
50,898 |
|
|
|
61,290 |
|
|
|
(10,392 |
) |
|
|
-17.0 |
% |
Total revenue,
net |
|
|
11,534,819 |
|
|
|
2,565,162 |
|
|
|
8,969,657 |
|
|
|
349.7 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cost of
revenues |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Packaging
products |
|
|
3,156,993 |
|
|
|
1,393,063 |
|
|
|
1,763,930 |
|
|
|
126.6 |
% |
Digital advertising
and media revenue |
|
|
7,776,663 |
|
|
|
260,318 |
|
|
|
7,516,345 |
|
|
|
2887.4 |
% |
|
|
|
10,933,656 |
|
|
|
1,653,381 |
|
|
|
9,280,275 |
|
|
|
561.3 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Gross
profit |
|
|
601,163 |
|
|
|
911,781 |
|
|
|
-310,618 |
|
|
|
-34.1 |
% |
Gross profit
% |
|
|
5.2 |
% |
|
|
35.5 |
% |
|
|
-30.3 |
% |
|
|
-85.3 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Selling, general and
administrative costs |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Compensation, benefits
and payroll taxes |
|
$ |
5,763,122 |
|
|
$ |
500,033 |
|
|
$ |
5,263,089 |
|
|
|
1052.5 |
% |
Depreciation and
amortization |
|
|
1,590,209 |
|
|
|
424,033 |
|
|
|
1,166,175 |
|
|
|
275.0 |
% |
Stock based
compensation |
|
|
1,143,445 |
|
|
|
8,697,502 |
|
|
|
(7,554,057 |
) |
|
|
-86.9 |
% |
Advertising, marketing
and promotions |
|
|
4,636,246 |
|
|
|
269,960 |
|
|
|
4,366,287 |
|
|
|
1617.4 |
% |
Legal,professional
fees, and transaction costs |
|
|
11,764,602 |
|
|
|
1,414,391 |
|
|
|
10,350,211 |
|
|
|
731.8 |
% |
Selling, general and
administrative costs |
|
|
1,900,483 |
|
|
|
354,961 |
|
|
|
1,545,523 |
|
|
|
435.4 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total selling, general
and administrative costs |
|
$ |
26,798,107 |
|
|
$ |
11,660,880 |
|
|
$ |
15,137,227 |
|
|
|
129.8 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Other income
(expense) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Interest expense,
net |
|
|
(22,427,461 |
) |
|
|
(12,694,933 |
) |
|
|
(9,732,528 |
) |
|
|
76.7 |
% |
Loss on issuance of
warrants |
|
|
(243,681,478 |
) |
|
|
(75,156,534 |
) |
|
|
(168,524,944 |
) |
|
|
224.2 |
% |
Change in fair value
of warrant liability |
|
|
(86,948,858 |
) |
|
|
36,381,542 |
|
|
|
(123,330,400 |
) |
|
|
-339.0 |
% |
Other income
(expense) |
|
|
149,594 |
|
|
|
(44,296 |
) |
|
|
193,890 |
|
|
|
-437.7 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total other income
(expense) |
|
$ |
(352,908,203 |
) |
|
$ |
(51,514,221 |
) |
|
$ |
(301,393,982 |
) |
|
|
585.1 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Loss before income
taxes |
|
$ |
(379,105,147 |
) |
|
$ |
(62,263,320 |
) |
|
$ |
(316,841,827 |
) |
|
|
508.9 |
% |
Income tax
expense |
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
|
|
Net loss |
|
|
(379,105,147 |
) |
|
|
(62,263,320 |
) |
|
|
(316,841,827 |
) |
|
|
508.9 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net (loss) income
attributable to noncontrolling interests |
|
|
(6,157,190 |
) |
|
|
28,034 |
|
|
|
(6,185,224 |
) |
|
|
-22063.3 |
% |
Net loss attributable
to Vinco Ventures, Inc. from continuing operations |
|
|
(372,947,957 |
) |
|
|
(62,291,354 |
) |
|
|
(310,656,603 |
) |
|
|
498.7 |
% |
Net Loss from
discontinued operations |
|
|
- |
|
|
|
(178,200 |
) |
|
|
178,200 |
|
|
|
-100.0 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net loss attributable
to Vinco Ventures, Inc. |
|
$ |
(372,947,957 |
) |
|
$ |
(62,469,554 |
) |
|
$ |
(310,478,403 |
) |
|
|
497.0 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net loss attributable
to Vinco Ventures, per share |
|
|
- |
|
|
|
- |
|
|
|
|
|
|
|
|
|
Net loss per share-
continuing operations |
|
$ |
(3.05 |
) |
|
$ |
(3.28 |
) |
|
$ |
0.23 |
|
|
|
-6.9 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Weighted Average Number of Common Shares Outstanding -basic
and diluted |
|
|
122,176,851 |
|
|
|
19,055,006 |
|
|
|
103,121,845 |
|
|
|
541.2 |
% |
Vinco Ventures, Inc. and
SubsidiariesCONDENSED CONSOLIDATED STATEMENTS OF
CASH FLOWS(Unaudited)
|
|
|
|
|
|
|
|
|
|
|
For the Three Months Ended March 31, |
|
|
|
2022 |
|
|
2021 |
|
Cash Flow from
Operating Activities |
|
|
|
|
|
|
|
|
Net loss attributable to Vinco Ventures, Inc. |
|
$ |
(372,947,957 |
) |
|
$ |
(62,291,354 |
) |
Net (loss) income attributable to noncontrolling interest |
|
|
(6,157,190 |
) |
|
|
28,034 |
|
Net loss |
|
|
(379,105,147 |
) |
|
|
(62,263,320 |
) |
Adjustments to reconcile net loss to net cash provided by operating
activities: |
|
|
|
|
|
|
|
|
Discontinued operations |
|
|
- |
|
|
|
(178,200 |
) |
Amortization of financing costs |
|
|
22,260,697 |
|
|
|
445,541 |
|
Share-based compensation |
|
|
1,143,445 |
|
|
|
12,418,930 |
|
Depreciation and amortization |
|
|
1,608,691 |
|
|
|
8,697,502 |
|
Amortization of right of use asset |
|
|
35,604 |
|
|
|
24,163 |
|
Change in fair value of short-term investment |
|
|
42,000 |
|
|
|
70,000 |
|
Loss on issuance of warrants |
|
|
243,681,478 |
|
|
|
75,156,534 |
|
Change in fair value of warrant liability |
|
|
86,948,858 |
|
|
|
(36,381,542 |
) |
Changes in assets and liabilities: |
|
|
|
|
|
|
|
|
Accounts receivable |
|
|
(2,428,136 |
) |
|
|
(494,130 |
) |
Inventory |
|
|
28,030 |
|
|
|
(215,717 |
) |
Prepaid expenses and other assets |
|
|
(5,384,663 |
) |
|
|
139,635 |
|
Accounts payable |
|
|
(1,835,876 |
) |
|
|
(804,282 |
) |
Accrued expenses and other liabilities |
|
|
(9,009,264 |
) |
|
|
(755,224 |
) |
|
|
|
|
|
|
|
|
|
Net Cash used in Operating Activities |
|
|
(42,014,284 |
) |
|
|
(4,140,110 |
) |
|
|
|
|
|
|
|
|
|
Cash Flows from
Investing Activities |
|
|
|
|
|
|
|
|
Issuance of loans held-for-investment-related parties |
|
|
- |
|
|
|
(5,000,000 |
) |
Issuance of loans held-for-investment |
|
|
(500,000 |
) |
|
|
(7,000,000 |
) |
Purchases of property and equipment |
|
|
(326,563 |
) |
|
|
(18,228 |
) |
Purchase of intangible assets |
|
|
- |
|
|
|
- |
|
Acquisition of business, net of cash acquired (Note 3) |
|
|
(34,850,576 |
) |
|
|
- |
|
Net Cash used in
Investing Activities |
|
|
(35,677,139 |
) |
|
|
(12,018,228 |
) |
|
|
|
|
|
|
|
|
|
Cash Flows from
Financing Activities |
|
|
|
|
|
|
|
|
Net repayments under line of credit |
|
|
- |
|
|
|
(379,333 |
) |
Net (repayments) borrowings under convertible notes payable |
|
|
(150,000 |
) |
|
|
19,720,000 |
|
Net borrowings under notes payable |
|
|
- |
|
|
|
73,000 |
|
Net repayments under notes payable |
|
|
(27,644 |
) |
|
|
(2,141,782 |
) |
Net repayments under notes payable - related parties |
|
|
- |
|
|
|
(659,999 |
) |
Fees paid for financing costs |
|
|
- |
|
|
|
(122,762 |
) |
Net proceeds from exercise of warrants |
|
|
101,036,839 |
|
|
|
1,690,604 |
|
Net proceeds from issuance of common stock |
|
|
- |
|
|
|
3,255,000 |
|
|
|
|
|
|
|
|
|
|
Net Cash provided by Financing Activities |
|
|
100,859,195 |
|
|
|
21,434,728 |
|
Net Increase in Cash and Cash Equivalents |
|
|
23,167,772 |
|
|
|
5,276,390 |
|
Cash and Cash
Equivalents - Beginning of Period |
|
|
187,612,176 |
|
|
|
249,356 |
|
Cash and Cash
Equivalents - End of Period |
|
$ |
210,779,948 |
|
|
$ |
5,525,746 |
|
|
|
|
|
|
|
|
About Vinco Ventures
Vinco Ventures, Inc. (Nasdaq: BBIG) is a digital
media, advertising and content technologies holding company. Vinco
Ventures’ consolidated subsidiary, ZVV Media Partners, LLC, a joint
venture of Vinco Ventures and ZASH Global Media and Entertainment
Corporation, has an 80% ownership interest in Lomotif Private
Limited. Vinco Venture owns 100% of Adrizr LLC and 51% of PZAJ
Holdings, LLC. For more information visit
https://investors.vincoventures.com/
About Lomotif
Lomotif is a video-sharing social networking
platform that is democratizing video creation. A home for creators
since 2014, Lomotif hosts a grassroots social community with
dedicated users in Asia, Latin America and the United States.
Lomotif is 80% owned by ZVV Media Partners, LLC, a joint venture of
ZASH Global Media and Entertainment Corporation and Vinco Ventures,
Inc. (Nasdaq: BBIG). Download the Lomotif app from Apple and Google
stores or visit www.lomotif.com for more information.
About Cryptyde
Cryptyde, Inc. (anticipated: TYDE), is focused
on leveraging blockchain technologies to disrupt consumer facing
industries.
Forward-Looking Statements and Disclaimers
This press release contains “forward-looking
statements” as defined in the safe harbor provisions of the U.S.
Private Securities Litigation Reform Act of 1995, which are based
upon beliefs of, and information currently available to, Vinco
Ventures’ management as well as estimates and assumptions made by
Vinco Ventures’ 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 applicable company or its
management identify forward-looking statements. Such statements
reflect the current view of Vinco Ventures with respect to future
events and are subject to risks, uncertainties, assumptions and
other factors relating to Vinco Ventures and its subsidiaries and
consolidated variable interest entities including Lomotif, their
industry, financial condition, operations and results of
operations. Such factors include, but are not limited to, the
expected benefits from Vinco Ventures’ investments in Lomotif and
related growth initiatives and strategies such as the blended
media, cross-platform distribution strategy, the expected benefits
of Lomotif’s participation in and sponsorship of live entertainment
events, the expected benefits from acquisition of AdRizer and
planned integration of the AdRizer technology with Lomotif and
Honey Badger and synergies between AdRizer, Lomotif and Honey
Badger, uncertainties as to the completion and timing of the
spin-off of Cryptyde, the failure to satisfy any conditions to
complete the spin-off as specified in the Form 10, the expected tax
treatment of the spin-off and the impact of the spin-off on the
businesses of Vinco Ventures and Cryptyde, the expected benefits
for Vinco Ventures, its shareholders and Cryptyde from the recent
injection of businesses and assets into Cryptyde and the spin-off,
the regulatory risks with the NFT and blockchain business lines and
such other risks and uncertainties described more fully in
documents filed by Vinco Ventures and Cryptyde with or furnished to
the Securities and Exchange Commission, including the risk factors
discussed in Vinco Ventures’ Annual Report on Form 10-K for the
period ended December 31, 2021 filed on April 15, 2022 and
Quarterly Report on Form 10-Q for the period ended March 31, 2022
filed on May 23, 2022, as well as Cryptyde’s Amendment No. 2 of
Form 10 filed on March 18, 2022, which are available at
www.sec.gov. 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 we believe that
the expectations reflected in the forward-looking statements are
reasonable, we cannot guarantee future results, performance, or
achievements. Except as required by applicable law, including the
securities laws of the United States, we do not intend to update
any of the forward-looking statements to conform these statements
to actual results.
# # #
Investor RelationsMonica Gould212-871-3927
Gregory McNiff415-217-4963investors@vincoventures.com
Vinco Ventures (NASDAQ:BBIG)
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