PALO
ALTO, Calif., May 21, 2024
/PRNewswire/ -- Mega Matrix Corp. ("MPU" or the "Company") (NYSE
American: MPU), today announced the successful closing of the
private placement with $2.20 per share or an aggregate
consideration of $3,700,000 on
May 9, 2024.
Management Commentary
Mr. Yucheng Hu, CEO of Mega
Matrix Corp., said, "In Q1 of 2024, our efforts to bolster FlexTV's
development were validated with significant traction and engagement
on the platform.
We are pleased to announce the successful closing of a private
placement with $2.20 per share
or an aggregate consideration of $3,700,000 on
May 9, 2024.
Building on this momentum, our focus for the rest of the year is
expanding our content library, nurturing content studios, forging
strategic partnerships, and enhancing user engagement. The success
in Q1 reaffirms our belief in FlexTV's potential to revolutionize
digital content consumption. We are excited to continue driving
innovation and delivering compelling entertainment experiences
while maximizing shareholder value."
About Mega Matrix: Mega Matrix Corp. (NYSE AMEX: MPU) is
a holding company and operates FlexTV, a short-video streaming
platform and producer of short dramas, through Yuder Pte, Ltd., an
indirect majority-controlled subsidiary of Mega Matrix. Mega Matrix
is a Delaware corporation
headquartered in Palo Alto, CA.
For more information, please contact info@megamatrix.io or visit:
http://www.megamatrix.io.
Forward-Looking Statements
This press release contains forward-looking statements within
the meaning of the "safe harbor" provisions of the United States
Private Securities Litigation Reform Act of 1995. All statements in
this press release other than statements that are purely historical
are forward looking statements. When used in this press release,
the words "estimates," "projected," "expects," "anticipates,"
"forecasts," "plans," "intends," "believes," "seeks," "may,"
"will," "should," "future," "propose," and variations of these
words or similar expressions (or the negative versions of such
words or expressions) are intended to identify forward-looking
statements. These forward-looking statements are not guarantees for
future performance, conditions or results, and involve a number of
known and unknown risks, uncertainties, assumptions and other
important factors, many of which are outside the Company's control,
that could cause actual results or outcomes to differ materially
from those discussed in the forward-looking statements. Important
factors, among others, are: the ability to manage growth; ability
to identify and integrate future acquisitions; ability to grow and
expand our FlexTV business; ability to obtain additional financing
in the future to fund capital expenditures; fluctuations in general
economic and business conditions; costs or other factors adversely
affecting the Company's profitability; litigation involving
patents, intellectual property, and other matters; potential
changes in the legislative and regulatory environment; a pandemic
or epidemic; ; the possibility that the Company may not succeed in
developing its new lines of businesses due to, among other things,
changes in the business environment, competition, changes in
regulation, or other economic and policy factors; and the
possibility that the Company's new lines of business may be
adversely affected by other economic, business, and/or competitive
factors. The forward-looking statements in this press release and
the Company's future results of operations are subject to
additional risks and uncertainties set forth under the heading
"Risk Factors" in documents filed by the Company with the
Securities and Exchange Commission, including the Company's latest
annual report on Form 10-K, and are based on information available
to the Company on the date hereof. In addition, such risks and
uncertainties include the Company's inability to predict or control
bankruptcy proceedings and the uncertainties surrounding the
ability to generate cash proceeds through the sale or other
monetization of the Company's assets. The Company undertakes no
obligation to update or revise any forward-looking statements,
whether as a result of new information, future events or otherwise,
except as required by applicable law. Readers are cautioned not to
place undue reliance on forward-looking statements, which speak
only as of the date of this press release.
Disclosure Channels
We announce material information about the Company and its
services and for complying with our disclosure obligation under
Regulation FD via the following social media channels:
X (f/k/a
Twitter):
|
twitter.com/MegaMatrixMPU
|
Facebook:
|
facebook.com/megamatrixmpu
facebook.com/flextvus
|
LinkedIn:
|
linkedin.com/company/megamatrixmpu
|
TikTok:
|
tiktok.com/@flextv_english
|
YouTube:
|
youtube.com/@FlexTV_English
|
The Company will also use its landing page on its corporate
website (www.megamatrix.io) to host social media disclosures and/or
links to/from such disclosures. The information we post through
these social media channels may be deemed material. Accordingly,
investors should monitor these social media channels in addition to
following our website, press releases, SEC filings and public
conference calls and webcasts. The social media channels that we
intend to use as a means of disclosing the information described
above may be updated from time to time as listed on our
website.
Contact: Info@megamatrix.io
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SOURCE Mega Matrix Corp.