MIAMI BEACH, Fla., Nov. 21, 2017 (GLOBE NEWSWIRE) -- Favored, Inc. (OTC Pink:FVRD), through its wholly owned subsidiary Empire Mobile Studios, Inc., has entered into mining contracts with a leading mining company to mine for both Ethereum and Zcash.
At present, the market cap of Ethereum is in the $35 Billion range with prices up over 3,000 percent over the last year. Zcash has a market cap approaching $1 Billion with prices in the $300 range. Ethereum has the second largest market cap of all crypto currencies and Zcash is an up and coming crypto currency that continues to increase in popularity and usage. Zcash has the built in feature of “selective disclosure” allowing users the option of anonymous transactions or if desired full disclosure for auditable transactions to provide proof of payment.
Additionally, the company has just recently taken 46 million shares of free trading common stock out of the float which additionally decreases the number of shares of common stock outstanding. The company will provide OTC Markets updated share count information in order to reflect the new float and outstanding share count reduction on the company’s profile page.
“We are working diligently to provide shareholder value. The free trading common share reduction is just one of many planned corporate actions the company is taking to increase overall value to shareholders. We believe that the crypto mining contracts provide some exciting opportunities for the company. We look forward to providing additional updates in the near term,” stated Craig Coaches, President of Favored Inc.
About Favored, Inc.
Favored, Inc. is a publicly traded (OTC PINK:FVRD) diversified holding company, which seeks opportunities to acquire, develop, and grow businesses that can generate long-term sustainable free cash flow and attractive returns in order to maximize value for all stakeholders. Favored seeks to develop a diverse array of operating subsidiaries.
Forward-Looking Statements Certain statements in this news release may contain forward-looking information within the meaning of Rule 175 under the Securities Act of 1933 and Rule 3b-6 under the Securities Exchange Act of 1934, and are subject to the safe harbor created by those rules. All statements, other than statements of fact, included in this release, including, without limitation, statements regarding potential future plans and objectives of the company, are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Technical complications, which may arise, could prevent the prompt implementation of any strategically significant plan(s) outlined above. The Company undertakes no duty to revise or update any forward- looking statements to reflect events or circumstances after the date of this release.
Website: http://www.favoredinc.com/
Phone: 800-214-3109
Email: info@favoredinc.com