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Focused on Increasing Awareness and Enhancing Stockholder Value
Jericho, NY, Sept. 30, 2021 (GLOBE NEWSWIRE) -- via NewMediaWire -- Paltalk, Inc. (“Paltalk,” the “Company,” “we,” “our,” or “us”) (NASDAQ: PALT), a leading communications software innovator that powers multimedia social applications, today announced that it has retained ClearThink Capital (“ClearThink”), a strategic advisory firm, to develop and deploy a comprehensive investor outreach and communications program.
“We believe we are now ready to enter the next growth phase of our business, as we successfully achieved our Nasdaq listing, and have a strong balance sheet with $6.5 million cash and no long-term debt as of June 30, 2021 and subsequently raised approximately an additional $3.5 million in connection with our recent underwritten public offering,” stated, Jason Katz, Chairman and Chief Executive Officer of Paltalk. “Since we re-focused on our live video chat business, we have recorded five consecutive quarters of at least $3.3 million revenue and $0.4 million operating income. While we continue our focus on software development and sales growth, we remain active in looking for strategic and accretive acquisitions to accelerate our growth and profitability.”
Katz, continued, “As we look to all of this positive momentum, our Board and management believe it is an appropriate time to retain a proactive strategic investor relations firm to help us reach new potential investors and effectively communicate our investment thesis. We are confident that ClearThink will help us more effectively communicate our strategy, business objectives and corporate milestones to a wider audience of sophisticated investors and improve our visibility and awareness.”
Brian Loper, Senior VP and Account Manager of ClearThink, commented, “Under Jason’s leadership, Paltalk has re-focused its business, returned to growth and reached consistent profitability. With a strong balance sheet, expectation of sustainable profitability and a strategic M&A plan, we believe Paltalk’s investment proposition is compelling, and the ClearThink team is eager to elevate the company's IR efforts. These efforts will include implementing a comprehensive targeting strategy to communicate a more clear and concise message to an expanded audience of relevant investors that we expect, over time, should help unlock and drive stockholder value.”
ClearThink is a consulting firm known for its ability to connect underfollowed and undervalued smaller reporting companies with sophisticated institutional investors, buy-side and sell-side analysts, retail brokerage firms and accredited individual investors. Leveraging decades of cumulative experience, ClearThink develops strategies to help clients effectively communicate with the investment community and works to increase their exposure through targeted outreach and transparent positioning. ClearThink helps public companies deliver the right message to the right audience. Over time, ClearThink helps its clients navigate up the Wall Street value chain and to help them secure a reasonable valuation by broadening their audience, expanding institutional ownership and ensuring clear, consistent communication with the public.
About Paltalk, Inc. (NASDAQ: PALT)
Paltalk, Inc. is a communications software innovator that powers multimedia social applications. Our product portfolio includes Paltalk and Camfrog, which together host one of the world’s largest collections of video-based communities. Our other products include Tinychat and Vumber. The Company has an over 20-year history of technology innovation and holds 18 patents.
For additional information, please visit: https://www.paltalk.com.
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This press release contains "forward-looking statements." Such statements may be preceded by the words "intends," "may," "will," "plans," "expects," "anticipates," "projects," "predicts," "estimates," "aims," "believes," "hopes," "potential," or similar words. Forward-looking statements are not guarantees of future performance, are based on certain assumptions and are subject to various known and unknown risks and uncertainties, many of which are beyond the Company's control, and cannot be predicted or quantified and consequently, actual results may differ materially from those expressed or implied by such forward-looking statements. Such risks and uncertainties include, without limitation, the Company’s ability to retain the listing of its common stock on The Nasdaq Capital Market; the impact of the COVID-19 pandemic on our results of operations and our business; our ability to effectively market and generate revenue from our applications; our ability to release new applications or improve upon or add features to existing applications on schedule or at all; risks and uncertainties related to our increasing focus on the use of new and novel technologies to enhance our applications, and our ability to timely complete development of applications using new technologies; our ability to effectively secure new software development and licensing customers; our ability to protect our intellectual property rights; the use of the internet and privacy and protection of user data; risks related to our holdings of digital tokens, including risks related to the volatility of the trading price of digital tokens and our ability to convert digital tokens into fiat currency; and our ability to manage our partnerships and strategic alliances. More detailed information about the Company and the risk factors that may affect the realization of forward-looking statements is set forth in the Company's filings with the Securities and Exchange Commission ("SEC"), including the Company's most recent Annual Report on Form 10-K and Quarterly Reports on Form 10-Q. Investors and security holders are urged to read these documents free of charge on the SEC's website at www.sec.gov.
All forward-looking statements speak only as of the date on which they are made. The Company undertakes no obligation to update any forward-looking statement or statements to reflect events or circumstances after the date on which such statement was made, except to the extent required by applicable securities laws.