Paltalk, Inc. Hires ClearThink to Lead Expanded Investor Relations Program
Focused on increasing awareness and improving shareholder value
Jericho, NY, September 30, 2021 (GLOBE NEWSWIRE) – via NewMediaWire – Paltalk, Inc. (“Paltalk”, the “Company”, “we”, “us” or “our”) (NASDAQ: PUCK), a leading innovator in communications software that powers multimedia social applications, today announced that it has retained ClearThink Capital (“ClearThink”), a strategic consulting firm, to develop and deploy a comprehensive communication and investor awareness.
“We believe that we are now ready to enter the next phase of our business growth, as we have been successful in our Nasdaq listing and have a strong balance sheet with $ 6.5 million in cash and no long-term debt as at 30. June 2021 and lifted thereafter. approximately $ 3.5 million in additional funding from our recent public offering, ”said Jason Katz, President and CEO of Paltalk. “Since refocusing on our live video chat business, we have recorded five consecutive quarters of at least $ 3.3 million in revenue and $ 0.4 million in operating revenue. As we continue to focus on software development and sales growth, we remain active in seeking strategic and accretive acquisitions to accelerate our growth and profitability. “
Katz continued, “As we envision all of this positive momentum, our board and management believe the time has come to engage the services of a proactive strategic investor relations firm to help us reach new potential investors and to communicate our investment thesis effectively. We are confident that ClearThink will help us communicate our strategy, business goals and corporate milestones more effectively to a wider audience of sophisticated investors and improve our visibility and brand awareness.
Brian Loper, Senior Vice President and Account Director of ClearThink, said, “Under Jason’s leadership, Paltalk has refocused its business, resumed growth and achieved consistent profitability. With a strong balance sheet, expectations of sustainable profitability, and a strategic M&A plan, we believe Paltalk’s investment proposition is compelling, and the ClearThink team looks forward to stepping up the company’s IR efforts. . These efforts will include implementing a comprehensive targeting strategy to communicate a clearer and more concise message to a broader audience of relevant investors which we believe should, over time, help unlock and generate investment. shareholder value. “
ClearThink is a consulting firm known for its ability to match small under-followed and undervalued reporting companies with sophisticated institutional investors, buy-side and sell-side analysts, retail brokerage firms and accredited individual investors. . Drawing on decades of cumulative experience, ClearThink develops strategies to help clients communicate effectively with the investment community and strives to increase their exposure through targeted outreach and transparent positioning. ClearThink helps public companies get the right message to the right audience. Over time, ClearThink helps clients move up the Wall Street value chain and ensure reasonable valuation by broadening their audience, expanding institutional ownership, and ensuring clear and consistent communication with the public.
About Paltalk, Inc. (NASDAQ: PALT)
Paltalk, Inc. is a communications software innovator that powers multimedia social applications. Our product portfolio includes Paltalk and Camfrog, which together host one of the world’s largest collections of video-based communities. Our other products include Tinychat and Vumber. The company has more than 20 years of technological innovation history and holds 18 patents.
For more information, please visit: https://www.paltalk.com.
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This press release contains “forward-looking statements”. Such statements may be preceded by the words “consider”, “may”, “will”, “plan”, “expect”, “foresee”, “projects”, “predict”, “estimate”, “aim”. , “Estimates,” “hopes”, “potential” or similar words. Forward-looking statements are not guarantees of future performance, are based on certain assumptions and are subject to various known and unknown risks and uncertainties, many of which are independent the will of the Company, and cannot be predicted or quantified and, therefore, actual results may differ materially from those expressed or implied by such forward-looking statements. These risks and uncertainties include, without limitation, the the Company’s ability to maintain the listing of its common shares on the Nasdaq Capital Market; the impact of the COVID-19 pandemic on our operating results and business; our ability to effectively market and generate income from of our applications; our ability to release new applications or improve or add functionality to existing applications on schedule or not at all; the risks and uncertainties associated with our increasing focus on using new and innovative technologies to improve our applications, and our ability to timely complete application development using new technologies; our ability to effectively secure new software development and licensing customers; our ability to protect our intellectual property rights; Internet use and the confidentiality and protection of user data; risks relating to our holdings of digital tokens, including risks relating to the volatility of the trading price of digital tokens and our ability to convert digital tokens into fiat currency; and our ability to manage our strategic partnerships and alliances. More detailed information about the Company and the risk factors that may affect the realization of forward-looking statements are set out in the documents filed by the Company with the Securities and Exchange Commission (“SEC”), including the most recent annual report of the Company on Form 10-K and Quarterly Reports on Form 10-Q. Investors and security holders are urged to read these documents free of charge on the SEC’s website at www.sec.gov.
All forward-looking statements speak only as of the date on which they are made. The Company does not undertake to update any forward-looking statement (s) to reflect events or circumstances occurring after the date on which such statement was made, except to the extent required by applicable securities laws.