LOS ANGELES, Nov. 28, 2018 /PRNewswire/ -- Social Reality, Inc. (Nasdaq: SRAX), a digital marketing and consumer data management and distribution technology platform company, announced its board of directors has authorized a new stock repurchase program for up to one million shares of the company's outstanding Class A common stock, par value $0.001 per share.
The board is establishing an executive committee to oversee the terms of the buyback program, which will include the creation of any stock purchase plans. The executive committee will begin work immediately and the program is expected to be completed over the next 12 months. Upon executive committee approval, the shares may be repurchased from time to time in open market transactions at prevailing market prices, in privately negotiated transactions, or by other means in accordance with federal securities laws. The actual timing, number and value of shares repurchased under the program will be determined by executive committee at its discretion and will depend on a number of factors, including the market price of Social Reality's stock, general market and economic conditions, and applicable legal requirements.
Social Reality, Inc. (NASDAQ: SRAX) is a digital marketing and consumer data management and distribution technology platform company. SRAX's technology delivers the tools to unlock data to reveal brands and content owners' core consumers and their characteristics across marketing channels. Through its blockchain identification graph technology platform, BIG (www.bigtoken.com), SRAX is developing a consumer-powered data marketplace where people will be able to own and sell access to their data. SRAX's technology and tools deliver a digital competitive advantage for brands in the CPG, automotive, sports and lifestyle verticals by integrating all aspects of the advertising experience, including verified consumer participation, into one platform. For more information on SRAX, visit www.srax.com.
About BIG Platform and BIGtoken
BIG Platform, is being developed on the blockchain, is a consumer data management and distribution system. BIG currently in open Beta and the company anticipates that when launched, it will be the first consumer-powered data marketplace where people can own, verify and sell access to their data. Participating consumers will earn rewards, and developers will be able to build online experiences on top of the BIG Platform. The system will also provides advertisers and media companies access to more robust consumer data to reach and serve their respective audiences. For more information on SRAX's BIG Platform, visit www.bigtoken.com.
Safe Harbor Statement
This press release contains certain forward-looking statements that are based upon current expectations and involve certain risks and uncertainties within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. Words or expressions such as "anticipate," "plan," "will," "intend," "believe" or "expect'" or variations of such words and similar expressions are intended to identify such forward-looking statements. These forward-looking statements are not guarantees of future performance and are subject to risks, uncertainties, and other factors, some of which are beyond our control and difficult to predict and could cause actual results to differ materially from those expressed or forecasted in the forward-looking statements, including, without limitation, statements made with respect to expectations of our ability to increase our revenues, satisfy our obligations as they become due, report profitable operations and other risks and uncertainties, as set forth in our Annual Report on Form 10-K and Quarterly Reports on Form 10-Q, as filed with the Securities and Exchange Commission. All forward-looking statements involve significant risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements, many of which are generally outside the control of Social Reality and are difficult to predict. Social Reality undertakes no obligation to publicly update any forward-looking statements, whether as a result of new information, future events or otherwise.
Steve Stratz, Relevanz Public Relations, 206.300.9134 firstname.lastname@example.org