NEW YORK, July 29, 2019 (GLOBE NEWSWIRE) — Digital Asset Monetary Network, Inc. or “DigitalAMN” (OTCMKTS: DATI), a Public Accelerator-Incubator (“PAI”), announced today, that in an effort to strengthen the Company’s cap table, DigitalAMN has created a new class of preferred shares to support DigitalAMN in its future business endeavors.
This new class of Preferred BB shares do not have any voting rights with a stated value of $50 per share. Management has authorized up to $50M worth of these new Preferred BB shares to be issued – clearing the way for DigitalAMN to make sizable acquisitions, various securities swaps, and a pending cap table reduction.
“A tight cap table is a strong cap table – which is always better for our shareholders,” stated Ajene Watson, CEO of DigitalAMN.
“Having a tight cap table is also important in our ability to financially maneuver. We believe one way to achieve this, is to avoid needlessly inundating the cap table with dilution from issuances of common stock. Rather, execute important transactions using a securities issuance method that is transparent, easy for shareholders to see and calculate any future dilution, and still provide the appropriate value and protections the recipient of the preferred shares may require.”
DigitalAMN has long demonstrated its commitment in protecting its cap table by staving off endless dilution. This was first done by maintaining a $0.35 issuance floor price to protect shareholders from unfair dilution while attempting to align all the Company’s shareholders and investors. Management believes that as DigitalAMN grows its equity portfolio, raises money and attracts key personnel to its executive team and board of directors, the new Preferred BB shares will also align DigitalAMN’s commitment by keeping its investors and shareholders on the footing with keeping dilution low and manageable.
Watson concluded, “Also important to note, is that with the creation of these Preferred BB shares, we can now aggressively pursue additional capital resources to continue growing our startup support ecosystem.”
ABOUT Digital Asset Monetary Network, Inc.
Digital Asset Monetary Network, Inc. (OTCMKTS: DATI) is the first company to utilize the Public Accelerator-Incubator (PAI) model, with the intent to follow the global success of accelerators and incubators around the world, adding niche opportunities to both the microcap and startup communities. As a PAI, Digital Asset Monetary Network will develop and acquire innovations that solve problems through digital platforms and other electronic applications.
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Forward Looking Statements
Statements in this press release that are not statements of historical or current fact constitute “forward-looking statements.” Such forward-looking statements involve known and unknown risks, uncertainties and other unknown factors that could cause the Company’s actual operating results to be materially different from any historical results or from any future results expressed or implied by such forward-looking statements. In addition to statements that explicitly describe these risks and uncertainties, readers are urged to consider statements that contain terms such as “believes,” “belief,” “expects,” “expect,” “intends,” “intend,” “anticipate,” “anticipates,” “plans,” “plan,” to be uncertain and forward-looking.
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