WRIT Media Group, Inc. Announces Fivefold Increase in Quarterly Revenue
22 Aug, 2017, 07:57 ET
BEVERLY HILLS, Calif., Aug. 22, 2017 /PRNewswire/ -- WRIT Media Group, Inc. (OTCQB: WRIT) today reported revenue of $64,985 for the first quarter of its fiscal year ended June 30, 2017, representing a 571 percent increase from the previous quarter, following the launch of its Pelecoin crypto currency platform.
"WRIT Media's growth this last quarter is a reflection of the tangible value and high-quality software that we provide to our clients," said Eric Mitchell, CEO. "WRIT Media Group takes pride in reducing digital currency volatility and optimizing clients' mining capabilities by providing unique "mining" software that allows users to mine multiple crypto currencies simultaneously – this reduces risk by spreading the "mining" function across several crypto currencies."
In addition to enhancing the features of its Pelecoin technology, WRIT Media Group is investing in client acquisition across all businesses and geographies that will benefit from the use of its Pelecoin platform, including large, established organizations as well as emerging growth companies. As a result, WRIT Media intends to accelerate growth by adding new clients and expanding the "mining" capabilities of existing clients, as well as develop new revenue models for business growth.
Pelecoin is now available to the public by registering for a free Pelecoin account and by downloading the Pelecoin miner in order to start mining. For additional information and to register follow the link www.PelecoinInfo.com
About WRIT Media Group
WRIT Media Group, Inc. (OTCQB: WRIT) is a diversified media and software company whose operations include digital currency software development, including trading platforms and Blockchain solutions, content production and distribution; and video game distribution via mobile platforms.
The Company's portfolio of wholly owned business units include:
- Pandora Venture Capital, a financial technology company with a focus on its digital currency, 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-K filed July 14, 2017. 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.
SOURCE WRIT Media Group, Inc.
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