WOWIO Sets New Agenda in Corporate Restructuring
Company’s CEO lays out plan to enhance net stockholders’ equity
BEVERLY HILLS, CA, May 14, 2015 - Wowio, Inc. (OTCBB:WWIO), a digital media company with a patented process for inserting ads into eBooks and a mobile eBook distribution platform, today announced that the company has begun implementation of a new plan to get the Company back on track to success. The Company has already taken steps to enhance its public disclosure on OTC Markets by remaining current in its reporting obligations. Corporately, WWIO has also designated various series of Anti-Dilutive Convertible Preferred Shares to protect its majority stakeholders. These securities will soon become available to the common shareholders.
“The mandate moving forward is to start reorganizing the debt on the balance sheet, so that the company ultimately ends up debt free,” stated CEO, Brian Altounian. “The next part of the plan is to enhance the Net Stock Holders Equity in the Company by acquiring profitable businesses and assets, using the Convertible Preferred Stock as currency, as announced in previous filings and news releases. This new plan is absolutely necessary in order to attract investment into WWIO. We will also be able to restore investor confidence as we commit ourselves to remove affiliate & non-affiliate debt and build net stockholders’ equity on the balance sheet. This is a process that we are committed to forging ahead with and our resolve to complete those tasks are a function of effort, teamwork and time.”
He further states, "We have a team of very qualified professionals that will implement this strategy and our mandate moving forward. Additionally, WWIO will seek to have more of a transparent dialogue with its investors as to the clarity of implementing these objectives. As we meet certain milestones, the investment community will be made more thoroughly aware through public disclosure and record."
WOWIO holds a proprietary patent that allows for the insertion of advertising into eBooks, a mobile eBook distribution platform, and a proprietary mobile ad network, providing the digital publishing distribution channel as a viable alternative to that of other content distribution outlets.
About WOWIO, Inc.
WOWIO, Inc., (OTCBB: WWIO) is a technology development company with a patented process and a proprietary mobile ad-delivery platform that will disrupt the eBook distribution landscape by exploiting a previously untapped marketplace: Ad-Supported eBooks! Our exclusive ownership of an issued patent that governs this opportunity allows us to expand our reach as a digital media company far beyond producing and distributing content across multiple platforms. To learn more about WOWIO, please visit our corporate website at http://www.studiowdigital.com.
Corporate contact:Shareholder Inquiries:
Brian Altounian Juan Ferreira
(310) 272-7988 (407) 399-8190
baltounian@wowio.com jferr1959@gmail.com
Safe Harbor Statement
Matters discussed in this press release contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are neither historical facts nor assurances of future performance. Instead, they are based only on our current beliefs, expectations and assumptions regarding the future of our business, future plans and strategies, projections, anticipated events and trends, the economy and other future conditions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict and many of which are outside of our control. These include, but are not limited to, risks and uncertainties associated with: the impact of economic, competitive and other factors affecting the Company and its operations, markets, product, and distributor performance, the impact on the national and local economies resulting from terrorist actions, and U.S. actions subsequently; and other factors detailed in reports filed by the Company. Our actual results and financial condition may differ materially from those indicated in the forward-looking statements. Therefore, you should not rely on any of these forward-looking statements. Any forward-looking statement made by us in this release is based only on information currently available to us and speaks only as of the date on which it is made. We undertake no obligation to publicly update any forward-looking statement, whether written or oral, that may be made from time to time, whether as a result of new information, future developments or otherwise.