NEW YORK, May 27, 2020 (GLOBE NEWSWIRE) -- Digital Asset Monetary Network, Inc. or “DigitalAMN” (OTCMKTS: DATI), a Public Accelerator-Incubator (“PAI”), gives shareholders a brief update.
Mr. Ajene Watson, CEO of DigitalAMN, commented, “Steve Jobs famously said, ‘You can’t connect the dots looking forward, you can only connect them looking backward.’
“We are excited by the prospect of building what we believe will become a highly rated ecosystem for promoting economic growth, social empowerment and financial literacy, within the business and investment communities. The progress we’ve made since 2017 is substantial and we look forward to the next 24 months where we anticipate generating healthy cashflows, growing the value of our equity portfolio of businesses and fostering strategic alliances with angel investors, VC’s, and private equity funds. This enthusiasm is only rivaled by our conviction to do as much good in the world as possible, while doing fiscally well for our shareholders. Take for example, when our subsidiary launched the Covid-19 micro funding program to support small businesses impacted by the coronavirus pandemic.
‘Keep The Light On’ is our fiscal contribution to the small business community in a time of need; providing resources and access to capital. Onboarding fees have been waived or deferred, the cost of marketing services have also been deferred, and the cost of third-party professional fees can be covered by DigitalAMN. Interestingly enough, shortly after #KeepTheLightOn launched, the United States Securities and Exchange Commission (SEC) coincidentally eased certain Regulation Crowdfunding (Reg. CF) requirements to provide temporary and conditional relief, making certain fund raising easier with Reg. CF. The steps taken here by the SEC were very meaningful during this crisis and helped to validate our ongoing support for small businesses.
In these uncertain times, it is extremely difficult to determine where the best opportunities reside; which companies may wither on the vine, or which may emerge as market leaders. Digital Asset Monetary Network remains strong and we continue to press forward, even now. And while our operation is not yet perfect, we strive to improve all facets of DigitalAMN, doing fairly well to make decisions that have helped us remain structurally sound and financially operational during a sudden and unforeseen crisis, like Covid-19. Equally, we have been able to continue with the growth and development of our vision, in spite of this pandemic and have made huge strides over the past 30 months, with the results showing themselves to be (but not limited to):
- Increased Revenues 197% (YoY);
- Raised roughly $1.1M, at either:
• (i) fixed stock price of $0.35 (approx. 480% greater than current avg price)
• (ii) fixed interest non-convertible non-dilutive financings; - Increased investments into multiple endeavors growing asset position by 246% since 2017 with a 96% increase (YoY);
- Reduced net losses by 58%;
- With previously observed increases in DigitalAMN’s equity portfolio, we currently estimate value increases to be as much as 20x;
- Taken a financial interest in and aligned with the ‘Members Only’, high-net-worth, global private investment group, Goldfingr – where we began funding in April 2020;
- Acquired the majority interest in and aligned with the Reg. A+ and Reg. CF marketing firm, TruCrowd Services, LLC.;
- Further strengthened our cap table – eliminated 1M common shares from the cap table and negotiated the elimination of an additional 1M common shares (completion eta (June 2020));
- Removed upwards of $250k cash from payable liabilities and further negotiated the removal of roughly $250k more cash from payable liabilities (completion eta (June 2020));
- Established a fixed floor price of $0.35 for all common stock issuances (new issuances, conversions, compensation, etc.);
- Reduced the Issued and Outstanding by 84%, down from over 120M shares to today’s current 19M+ (without employing any stock splits); and,
- Launched Coffee Talk, to keep an open flow of communication in real-time
We also believe a key accomplishment is the buildout of roughly 2/3rds of our PAI (Public Accelerator-Incubator) ecosystem. We are also making headway with other initiatives such as incorporating traditional accelerators into our ecosystem, revenue growth ventures and new products from the Angels+ family that are anticipated to aggressively increase the size and value of our equity portfolio.
While the emergence of Covid-19 has disrupted so much of the World’s economy, we continue to push our agenda forward – building an ecosystem that promotes economic growth, social empowerment and financial literacy, within the business and investment communities.
We are truly excited about the next 24 months of our continued growth. We trust you are too!”
ABOUT Digital Asset Monetary Network, Inc.
Digital Asset Monetary Network, Inc. (OTCMKTS: DATI) is the first company to utilize the Public Accelerator-Incubator (PAI) model, with the intent to follow the global success of accelerators and incubators around the world, adding niche opportunities to both the microcap and startup communities. As a PAI, Digital Asset Monetary Network will develop and acquire innovations that solve problems through digital platforms and other electronic applications.
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For investor and general information, please email info@DigitalAMN.com
Forward Looking Statements
Statements in this press release that are not statements of historical or current fact constitute "forward-looking statements." Such forward-looking statements involve known and unknown risks, uncertainties and other unknown factors that could cause the Company's actual operating results to be materially different from any historical results or from any future results expressed or implied by such forward-looking statements. In addition to statements that explicitly describe these risks and uncertainties, readers are urged to consider statements that contain terms such as "believes," "belief," "expects," "expect," "intends," "intend," "anticipate," "anticipates," "plans," "plan," to be uncertain and forward-looking.
Contact:
Public Relations Answering Center
(718) 285-6378 EXT 401
info@DigitalAMN.com