Vinco Ventures Inc (NASDAQ: BBIG) stock trades at $4.27 on June 4, 2021. Any move above this level would elevate the price to $4.87 and $5 in the subsequent trading sessions.
Issues an update on ZASH merger
ZASH (ZASH Global Media and Entertainment) and Vinco plan to take over Lomotif (Lomotif Private Limited) through ZVV Media Partners, LLC.
ZVV Media Partners, LLC is a JV of Vinco and Zash.
Both the companies entered a restated and amended limited liability company accord for the JV to facilitate the takeover of Lomotif.
Gemini Valuation Services would submit a valuation report on ZASH to Vinco on or before June 11, 2021.
ZASH and Vinco would sign a final agreement on or before June 24, 2021, for the merger.
Vinco reports growth of 31.32%
Vinco reported a growth of 31.32% YoY in Q1 2021 revenues to $2.57 million. Its profit improved to $0.9 million.
EVNT Platform, LLC, a subsidiary of Vinco, is set to release an exclusive NFT from Tory Lanez, a record producer, songwriter, singer, and rapper.
Tory is well known for his creativity. He is working with EVNT for a creative campaign to will make new ripples with his album featuring original songs.
Tory is a pioneer and became a creative disruptor. His album would be exclusively available on EVNT platform.
Tory holds a stake in EVNT, which is conducting business as an Emmersive Entertainment. He said several people tried to enter the NFT space after impressed with his success and could not succeed because they have no idea of entertainment. They need to learn how to use technology to achieve instead of focusing on making money.
NFT represents the digital distribution of the future. It will not go away anytime soon. Tory said Emmersive Entertainment is the perfect platform for his next project. It helps to push technology boundaries and advance NFT space worldwide.
Emmersive Entertainment’s co-founder – David J. Kovacs, said Tory fits its business strategy because of his future business vision and forward-thinking capabilities.