LOS ANGELES, May 22, 2017 /PRNewswire/ -- WRIT Media Group, Inc. (OTCQB: WRIT) announced today that Discovery Research initiated coverage on the Company with an initial target price of $1.50 per share. In the report, the analyst writes, "With WRIT, the upside potential to downside risk may be as much as 15 to 1 in the next 18 months and it appears that the probability of success becomes greater simply by the increase in the number of users which is already occurring without much marketing spend. This drafting of the increases in other digital currencies is a nice positive that could put wind in the sails of the stock. With a triggering event in the near term, WRIT could move to $1.65 quickly. If WRIT progresses as expected from that point, it might only take until the second half of 2018 before the stock achieves meaningful value recognition. That specific timeframe was chosen to conservatively allow the company some leeway in achieving more users, validation of its Blockchain technology with a major partner, and launching its currency exchange."
The full Discovery Research report is available and can be read by following the link below: www.otcmarkets.com/financialReportViewer?symbol=WRIT&id=172667
Discovery Research Disclosure: Discovery Research LLC has been paid for this research report and/or may be long WRIT common stock or other security of the Company. Should the Company dilute its shareholders meaningfully, fail to see a validation in its Blockchain technology, fail to sign on with major financial partners to accept the currency, fail to receive required funding in the future, fail to launch CrypFXPro exchange, or fail to increase the number of wallets/users, the Company may struggle, and our price target, which depends on one or more of these events occurring, may not occur. Forecasts and financial information for forecasts and comparable come from the Company. Discovery Research produces sponsored awareness reports on profiled equities. We are engaged in the business of marketing and advertising companies for compensation. The sponsored awareness reports should be viewed as paid advertisements. This report is based on data obtained from sources we believe to be reliable, but is not guaranteed as to accuracy and does not purport to be complete. As such, the report should not be construed as advice designed to meet the particular investment needs of any investor. Any opinions expressed herein are subject to change.
About WRIT Media Group
WRIT Media Group, Inc. (OTCQB: WRIT) is a diversified media and software company whose operations include content production and distribution; video game distribution via mobile platforms; and digital currency software development, including trading platforms and Blockchain solutions.
The Company's portfolio of wholly owned business units include:
- Pandora Venture Capital, a financial technology company with a focus on digital currency, including: Pelecoin, a new generation of digital currency, Blockchain technology solutions, and the CrypFXPro trading platform;
- Front Row Networks, a company which produces and distributes live event programming for worldwide digital broadcast to movie theaters and online streaming;
- Amiga Games, a company resurrecting the Amiga brand by publishing retro video games on smartphones and tablets;
- Retro Infinity, Inc., a video game distribution portal which publishes video games from Amiga, Atari and other "retro" brands.
Cautionary Note Regarding Forward-Looking Statements
Except for the historical information contained herein, the matters discussed in this press release are forward-looking statements that involve risks and uncertainties that could cause actual results to differ materially from those predicted by such forward-looking statements. Investors are cautioned that all forward-looking statements involve risks and uncertainties, including, but not limited to, those discussed in WRIT Media Group's latest 10-Q filed December 31, 2016. The company undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.
Pelecoin, CrypFXPro and their related trademarks and names are the property of WRIT Media Group, Inc. and are registered and/or used in the U.S. and countries around the world. All rights reserved. All other trademarks belong to their respective owners.
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/discovery-equity-research-initiates-coverage-on-writ-media-group-inc-with-initial-target-price-of-150-300461434.html
SOURCE WRIT Media Group, Inc.