NEW YORK, Dec. 21, 2018 – — Jerrick Media Holdings, Inc., (OTCQB: JMDA) (the “Company” or “Jerrick”), a technology company and the creators of Vocal, today reported that its two outstanding registration statements have been declared effective by the Securities and Exchange Commission. As such, the Company has achieved the final milestone required to receive the third and final tranche of its current financing offering (the “Offering”).
The terms of the Offering required that the Company complete three tasks to release each of three funding tranches, which included the conversion of its debt and preferred stock into shares of the Company’s common stock (combined total of $13,896,233), the filing of an S-1 registration statement, and the effectiveness of the S-1 registration statement. With all three tasks now achieved, the Company has met the requirement to receive the third and final tranche of funds. The total capital raised on the Offering as reflected in the company’s 8K filing dated October 24, 2018 totals approximately $3.45 million.
“With this final milestone completed, together with a right-sided balance sheet and the expected completion of our current technology development sprint in February 2019, we begin the new year in the strongest fundamental position since the founding of the company,” said Jerrick CEO Jeremy Frommer.
Jerrick is a holding company that develops technology-based solutions designed to solve for challenges that have resulted from disruption and evolution within the broad media and content generation environment. Its flagship product Vocal is a long-form, digital publishing platform focused on supporting content creators by providing them with content management tools that are embedded within digital communities. Vocal is architected to enable targeted marketing of branded content and e-commerce opportunities embedded within long-form content. Vocal’s community sites are managed by a dedicated team, whose primary focus is on creating healthy communities and identifying monetization opportunities within them.
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Vocal for Brands: https://www.linkedin.com/showcase/vocal-for-brands/
Jeremy Frommer: https://www.linkedin.com/in/jeremyfrommer/
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Jerrick Media Holdings, Inc.
SOURCE Jerrick Media Holdings, Inc.