AiAdvertising Announces CFO Transition in Preparation for Nasdaq Uplisting

Rhea-AI Summary

AiAdvertising (OTC: AIAD) has appointed Douglas Beck, CPA, as Chief Financial Officer, replacing John Small as part of a planned transition aligned with the company's Nasdaq uplisting strategy. Beck brings over 30 years of finance experience, notably helping Beyond Air Inc. uplist to Nasdaq and raising $75 million in equity and debt. At Shiftpixy, he assisted in raising $10 million in equity and improved financial processes. As AIAD's new CFO, Beck will focus on scaling operations, financial management, and steering capital markets and uplisting strategies.

Positive

• Appointment of experienced CFO with proven track record in successful Nasdaq uplistings
• New CFO has history of significant capital raising ($75M at Beyond Air, $10M at Shiftpixy)
• Strategic move towards potential Nasdaq uplisting, which could increase visibility and liquidity

Negative

• None.

Appoints Douglas Beck, CPA, as Chief Financial Officer

Veteran Financial Executive to Help Lead Next Phase of Company Growth

SAN ANTONIO--(BUSINESS WIRE)-- AiAdvertising, Inc. (OTC: AIAD), an industry leader in AI-powered digital advertising solutions, today announced the appointment of Douglas Beck, CPA, a seasoned finance and accounting executive, as Chief Financial Officer, replacing John Small as part of a planned transition given the company’s uplisting strategy and inflection point. Mr. Small will remain with the company for the near term to help facilitate the transition.

Douglas Beck is a senior level finance executive with over 30 years of hands-on experience and an established record with public and private companies for strategic and financial planning, business development, mergers and acquisitions, and public equity markets. Prior to joining AiAdvertising, Mr. Beck was CFO of Shiftpixy, where he assisted in raising $10 million in equity and improved the company’s financial processes and SEC reporting. Previously, as CFO with Beyond Air Inc., he helped to uplist the company to the Nasdaq and strategized to execute on the company’s short and long-term goals for equity funding, creating a critical path to raise $75 million in equity and debt. He has also served as CFO with JLM Couture, Inc., Relmada Therapeutics, Inc., iBio, Inc., and Lev Pharmaceuticals, Inc., several of which he led through the going public process. Mr. Beck holds a Bachelor of Science Degree, Accounting, from Fairleigh Dickinson University, and is a Certified Public Accountant, New York.

“On behalf of our board and management team, I would like to welcome Douglas to the position, and we are privileged to have someone of his caliber and financial skill set serve as our CFO,” said AIAD CEO Jerry Hug. “I would like to thank John for his contribution in leading us to this inflection point, and welcome Douglas’ capabilities in scaling companies and leading them through the public markets journey. His achievements as well as expertise in financial management of listed companies will make a significant contribution to the operation and development of our company going forward. With his leadership, he will also steer our capital markets and uplisting strategies.”

Mr. Beck added, “I am excited to be appointed as CFO as we prepare AiAdvertising for the future and preparations to move forward towards a national exchange uplisting. I look forward to working with Jerry, the senior leadership team, and our finance team as we continue into this next phase and execute on our strategic and financial priorities, and our commitments to all shareholders.”

About AiAdvertising

AiAdvertising is an AI-powered solutions leader employing the industry’s most scientifically advanced, patent-pending AI targeting process. Transforming marketing and customer experiences, allowing marketers to personify client data and scientifically target their ideal customers with hyper-personalized campaigns. By harnessing artificial intelligence (AI) and machine learning (ML), we empower brands to easily target, predict, create, scale, measure campaign performance and reduce waste. Our clients gain the intelligence they need to prove advertising’s impact on the bottom line. This means more engaging, higher-impact campaigns that drive conversions and results.

For more information about the Company, please visit www.AiAdvertising.com or our LinkedIn or Twitter pages.

Forward-Looking Statements

This press release may contain "forward-looking statements." Forward-looking statements are neither historical facts nor assurances of future performance. Instead, they are based only on our current beliefs, expectations, and assumptions regarding the future of our business, future plans and strategies, projections, anticipated events and trends, the economy, and other future conditions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks, and changes in circumstances that are difficult to predict and many of which are outside of our control. Our actual results and financial condition may differ materially from those indicated in the forward-looking statements. Therefore, you should not rely on any of these forward-looking statements. Important factors that could cause our actual results and financial condition to differ materially from those indicated in the forward-looking statements are included in our filings with the Securities and Exchange Commission, including the "Risk Factors" section of our annual report on Form 10-K for the year ended December 31, 2023. Any forward-looking statement made by us in this release is based only on information currently available to us and speaks only as of the date on which it is made. We undertake no obligation to publicly update any forward-looking statement, whether written or oral, that may be made from time to time, whether as a result of new information, future developments, or otherwise, except as may be required under applicable law.

View source version on businesswire.com: https://www.businesswire.com/news/home/20241122700911/en/

Investor Contact:

Larry Holub/Chris Tyson

312-261-6412

AIAD@mzgroup.us

www.mzgroup.us

Source: AiAdvertising, Inc.

FAQ

Who is the new CFO of AiAdvertising (AIAD)?

Douglas Beck, CPA, a senior finance executive with over 30 years of experience, has been appointed as the new CFO of AiAdvertising, replacing John Small.

What are AiAdvertising's (AIAD) plans for uplisting?

AiAdvertising is preparing for an uplisting to a national exchange, specifically targeting Nasdaq, with the new CFO appointment being part of this strategic transition.

What is Douglas Beck's track record in capital raising for companies?

At Beyond Air Inc., Beck helped raise $75 million in equity and debt, and at Shiftpixy, he assisted in raising $10 million in equity while improving financial processes.