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All Officers and Directors of Vinco Ventures Remain on as a Part of ZASH Executive Management Team for the ZASH Ecosystem
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