VINCO VENTURES INC - BBIG STOCK NEWS

Vinco Ventures (BBIG) and ZASH Global announced the launch of their first NFT streaming movie soundtrack, featuring artists like Anderson .Paak and CeeLo Green, produced by Grammy winners Om'Mas Keith and Adrian Miller. The soundtrack for the film Karen will be exclusively available on e-nft.com starting September 21, 2021. It features 11 tracks and will cost $3, with a limited edition version at $20. The film was released on September 14 and has received positive early response on Amazon.

Vinco Ventures (NASDAQ: BBIG) announced the details of its 2021 Annual Proxy and provided an update through a new investor presentation. The company specializes in selective acquisitions, particularly in digital media and content technologies, following its B.I.G. strategy: Buy, Innovate, Grow. This approach aims to identify acquisition opportunities with significant growth potential. Investors can find more details in the attached presentation.

Vinco Ventures (NASDAQ:BBIG) reported second quarter 2021 results, revealing significant challenges. Revenue decreased by 47.97% to $2.69 million, mainly due to falling sales in Personal Protective Equipment. Gross profit also declined by 16.97%, though gross margin improved to 36.06%. The company faced a staggering net loss of $183.89 million, attributed to warrant issuance. However, Vinco maintains a strong cash position of approximately $80 million and a joint venture acquisition of 80% in Lomotif, achieving over 30 million monthly active users. An earnings call is set for August 25, 2021.

ZASH Global Media and Entertainment has announced the greenlighting of three new reality series: "Love is Blurred," "Own-It," and "Millennium Penthouse Dance Party." This marks ZASH's entry into the reality series space, with distribution on cable and exclusive streaming on Lomotif, a video-sharing platform owned by ZASH. Production is set to start later this summer. ZASH is in the process of merging with Vinco Ventures (NASDAQ: BBIG), which is expected to enhance its market position. Lomotif has seen over 225 million installations globally and facilitates the creation of over 750 million videos.

Vinco Ventures (NASDAQ: BBIG) has launched its subsidiary Emmersive Entertainment's first music streaming platform, featuring Tory Lanez's exclusive album, "WHEN IT'S DARK." The album's E-NFT, priced at $1, allows fans to access streaming music and artwork, with limited copies available for resale. The album drops on August 10, 2021. The initiative pairs with the Lomotif app, expanding reach to millions globally and aiming to create a significant NFT music distribution marketplace. This marks a significant innovation in fan engagement and music distribution.

Lomotif has entered a global agreement with Universal Music Group (UMG), allowing its users to utilize UMG's extensive music catalog for video creation. This partnership marks UMG as the first major music company to license Lomotif, enhancing user engagement with popular tracks and classic hits. Lomotif, with over 225 million installs and 300 million monthly video views, aims to bolster creativity within its community. UMG’s executive emphasized fair compensation for artists while expanding digital opportunities.

Vinco Ventures (NASDAQ: BBIG) has successfully acquired Lomotif, a leading short-form video platform, through its joint venture ZVV Media. This strategic acquisition positions ZVV Media as a significant player in the global media market, boasting over 31 million monthly active users and over 225 million app installations globally. The combined companies are valued at over $5 billion. Lomotif's CEO, Paul Yang, will lead the rebranding efforts and focus on expanding into markets like India, where TikTok's ban presents new opportunities. The acquisition is set to enhance Vinco's digital media and content technology strategy.

Vinco Ventures, Inc. (BBIG) announced the planned spin-out of Emmersive Entertainment as a standalone publicly traded company, expected in Q3 2021. CEO Christopher Ferguson highlighted the potential for shareholders to receive equity in both entities, enhancing value. Emmersive will be led by Brian McFadden, the current Chief Strategy Officer of Vinco. This strategic move aims to better realize Emmersive's technology and growth opportunities while maintaining a partnership between the two companies.

Vinco Ventures (NASDAQ: BBIG) has announced a joint venture with ZASH Global Media and Entertainment to acquire Lomotif Private Limited. The parties have completed a revised agreement for this venture and expect a third-party valuation from Gemini Valuation Services by June 11, 2021. A final merger agreement is anticipated by June 24, 2021, and a shareholder proxy for merger approval is scheduled for July 15, 2021, pending regulatory approvals. This strategy aims to enhance Vinco's digital media and content technology offerings.