SRAX to Deconsolidate BIGtoken Following BIGtoken and BritePool Merger

December 01, 2021 at 10:51 AM EST

SRAX, Inc. (NASDAQ: SRAX), a financial technology company that unlocks data and insights for publicly traded companies through Sequire, its SaaS platform, announces that from this date forward, it will no longer have to consolidate the financials of BIGtoken, Inc (FPVD).

On September 27, 2021, BIGtoken, the leading ethically-sourced identity, data, and insights creation and media activation platform, and BritePool, Inc., a leading identity verification company for advertisers and publishers, entered into an agreement and plan of merger in an all-stock transaction. Today, with the completion of this union, SRAX is no longer obligated to consolidate BIGtoken into its financials. SRAX currently holds their BIGtoken position on the balance sheet at approximately $4M. This will now be adjusted on a quarterly basis to mark the position to market.

“We incubated BIGtoken and provided the infrastructure for BIGtoken so they can be their own company. The management team is one of the best in the industry and we look forward to them achieving the vision of consumers owning their own data,” said SRAX founder and CEO, Christopher Miglino.

About SRAX

SRAX (NASDAQ: SRAX) is a financial technology company that unlocks data and insights for publicly traded companies. Through its premier investor intelligence and communications platform, Sequire, companies can track their investors’ behaviors and trends and use those insights to engage current and potential investors across marketing channels. For more information on SRAX, visit srax.com and mysequire.com.

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