DATI Provides Update on Name Change With FINRA and the Filing Status on OTC Markets
Digital Arts Media Network, Inc.
Sep. 03, 2018
NEW YORK, Sept. 03, 2018 (GLOBE NEWSWIRE) -- Digital Arts Media Network, Inc. – n/k/a Digital Asset Monetary Network, Inc. – pending FINRA consent ( OTCMKTS: DATI ), a specialized tech accelerator leveraging the Public Accelerator-Incubator (PAI) model, today announced an update to its pending name change with FINRA and its status with OTC Markets.
On Friday, August 31st, 2018, DATI received notice from FINRA of the intent for DATI’s name to be changed from Digital Arts Media Network, Inc. to Digital Asset Monetary Network, Inc., effective September 5th, 2018. While the name of the Company had already changed with the Secretary of State, the Company was still required to undertake the formal process with FINRA. As of last week, DATI complied with all of FINRA’s requests and the new name, Digital Asset Monetary Network, Inc., should be announced by FINRA on September 4th, 2018 with a “Market Effective Date” on September 5th, 2018.
As this may relate to the Company’s status with the OTC Markets: It is management’s understanding, that shortly thereafter the Market Effective Date of the corporate name change to Digital Asset Monetary Network, Inc., the reapplication process with OTC Markets will be completed. Thereafter, DATI will proceed with the filing of its Q2 Financial Disclosures which have already been completed. The filing of the Q2 Financial Disclosures should return the Company back to a “Current Status” with OTC Markets.
Ajene Watson, CEO of Digital Asset Monetary Network, stated, “In previous releases, we mistakenly used the phrase, ‘pending FINRA approval,’ as it related to the completion of the name change. FINRA does not approve nor disapprove name changes, but rather processes and effectuates the corporate action [name change]. I am making this point as to be mindful of the process with FINRA.”
“We are extremely excited to have a corporate name in the public market that better exemplifies who we are as a company and the direction we are going. We also look forward to returning to a ‘Current’ status with OTC Markets as we now prepare to upgrade our status by filing audited reports with the Commission and eventually upgrade to the OTCQB.”
ABOUT Digital Asset Monetary Network, Inc., f/k/a Digital Arts Media Network (pending FINRA approval) Digital Asset Monetary Network, Inc. ( OTCMKTS: DATI ) is the first company to utilize the Public Accelerator-Incubator (PAI) model, with the intent to follow the global success of accelerators and incubators around the world, adding niche opportunities to both the microcap and startup communities. As a PAI, Digital Asset Monetary Network will develop and acquire innovations that solve problems through digital platforms and other electronic applications.
Forward Looking StatementsStatements in this press release that are not statements of historical or current fact constitute "forward-looking statements." Such forward-looking statements involve known and unknown risks, uncertainties and other unknown factors that could cause the Company's actual operating results to be materially different from any historical results or from any future results expressed or implied by such forward-looking statements. In addition to statements that explicitly describe these risks and uncertainties, readers are urged to consider statements that contain terms such as "believes," "belief," "expects," "expect," "intends," "intend," "anticipate," "anticipates," "plans," "plan," to be uncertain and forward-looking.
Contact:Investor Relations and Communications Answering Center (718) 285-6378 EXT 401 info@DigitalArtsMediaNetwork.com