PeerStream's Partnership with YouNow Progresses as SEC Qualifies the First Consumer Reg A+ Token Offering
Integration of Props Tokens as a Loyalty System for Users of PeerStream’s Popular Social Video Apps, Paltalk and Camfrog, Expected in Q3 2019
NEW YORK, NY - (NewMediaWire) - July 15, 2019 - PeerStream, Inc. (“PeerStream,” the “Company,” “we,” “our” or “us”) (OTCQB: PEER), a communications software innovator developing enhanced security and privacy solutions for video, voice, and text applications and data transmission, today announced that its partner, YouNow, has completed a significant milestone: the U.S. Securities and Exchange Commission (SEC) has qualified YouNow’s Reg A+ offering of Props Tokens, YouNow’s utility token for cross-app rewards. This is the first consumer token offering to be qualified under Reg A+.
As previously announced, PeerStream’s popular social video apps, Paltalk and Camfrog, two of the largest live video social communities, will be among the first apps to integrate the Props token-based user reward system. The Props Token is designed to enable a decentralized network of apps, operating independently of one another, to share an underlying currency that rewards end-users who create, consume and engage with content and services.
Alex Harrington, CEO of PeerStream, commented: “We’re thrilled that Props received approval for the first consumer token offering under Reg A+. Now that this regulatory approval has been obtained, we are eagerly working towards roll-out within our apps.”
About PeerStream, Inc. (OTCQB: PEER)
PeerStream is a communications software innovator developing enhanced security and privacy solutions for video, voice, and text applications and data transmission. Our offerings target consumer, government and enterprise clients. Using multi-layered encryption, blockchain technology and other recent innovations, we are developing our proprietary PeerStream Protocol (“PSP”) to offer clients maximal data security and confidentiality over distributed or decentralized networks. We also recently launched our Backchannel product suite in private beta, which includes cross platform applications, middleware and software development kits designed to offer a highly secure end user communication experience when coupled with PSP. For 20 years, we have built and continue to operate innovative consumer applications, including Paltalk and Camfrog, two of the largest live video social communities. The Company has a long history of technology innovation and holds 26 patents.
This press release contains "forward-looking statements." Such statements may be preceded by the words "intends," "may," "will," "plans," "expects," "anticipates," "projects," "predicts," "estimates," "aims," "believes," "hopes," "potential," or similar words. Forward-looking statements are not guarantees of future performance, are based on certain assumptions and are subject to various known and unknown risks and uncertainties, many of which are beyond the Company's control, and cannot be predicted or quantified and consequently, actual results may differ materially from those expressed or implied by such forward-looking statements. Such risks and uncertainties include, without limitation, risks and uncertainties related to our increasing focus on the use of new and novel technologies, such as blockchain and Props tokens, to enhance our applications, and our ability to timely complete development of applications using new technologies; our ability to effectively integrate Props tokens into our existing applications; our ability to effectively market and generate revenue from our new business solutions unit; development and acceptance of blockchain technologies and the continuing growth of the blockchain industry; legal and regulatory requirements related to the use of blockchain, including us investing in cryptocurrencies and accepting cryptocurrencies as a method of payment for our services; the use of the internet and privacy and protection of user data; risks related to our holdings of XPX tokens, including risks related to the volatility of the trading price of the XPX tokens and our ability to convert XPX tokens into fiat currency; and our ability to manage our partnerships and strategic alliances, including the ability of our partners to satisfy their obligations under these arrangements. More detailed information about the Company and the risk factors that may affect the realization of forward-looking statements is set forth in the Company's filings with the Securities and Exchange Commission ("SEC"), including the Company's most recent Annual Report on Form 10-K and Quarterly Reports on Form 10-Q. Investors and security holders are urged to read these documents free of charge on the SEC's website at www.sec.gov
All forward-looking statements speak only as of the date on which they are made. The Company undertakes no obligation to update any forward-looking statement or statements to reflect events or circumstances after the date on which such statement was made, except to the extent required by applicable securities laws.
The Securities and Exchange Commission (SEC) has qualified the offering statement that YouNow has filed with the SEC. The information in that offering statement is more complete than the information in this press release, and could differ in important ways. You must read the documents filed with the SEC before investing in Props Tokens. The offering of Props Tokens is being made only by YouNow by its offering statement. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of the Props Tokens in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. An indication of interest involves no obligation or commitment of any kind. Any person interested in investing in any offering of Props Tokens should review YouNow’s disclosures and the publicly filed offering statement and the final offering circular that is part of that offering statement. YouNow is not registered, licensed or supervised as a broker dealer or investment adviser by the Securities and Exchange Commission (SEC), the Financial Industry Regulatory Authority (FINRA) or any other financial regulatory authority or licensed to provide any financial advice or services.
Contacts IR@peerstream.com Kirin Smith / Stephanie Prince PCG Advisory Group firstname.lastname@example.org 646-863-6519