/EIN News/ — Bethlehem, PA, Nov. 12, 2020 (GLOBE NEWSWIRE) — Chris Ferguson, Chief Executive Officer of Vinco Ventures, Inc. (NASDAQ: BBIG), today issued a letter to the Company’s shareholders commenting on the Company’s recent merger agreement, name change, strategic path forward, 2021 outlook and key PPE related developments. A copy of the letter also appears on the Company’s website and is disclosed in the Company’s Current Report on Form 8-K filed with the SEC on November 12, 2020.
Edison Nation, Inc. (the “Company”) is pleased to announce the closing of a Merger Agreement (the “Agreement”) with Vinco Ventures, Inc. and its wholly owned subsidiary, Honey Badger Media, LLC (collectively referred to as “Vinco”). Pursuant to the Agreement, Vinco merged with and into the Company with the resultant new Company name being Vinco.
In addition, the Company entered into transactions with Honey Badger Media, LLC whereby in return for the payment of the consideration as set forth below, the Company receives the following:
- The registered traffic domains related to Honey Badger Media in exchange for the payment of three hundred thousand dollars ($300,00).
- Exclusive and perpetual license agreement for the use of the Honey Badger Media portal and its process for branding and content development of media properties in exchange for 750,000 shares of restricted common stock of the company.
The Vinco Strategy: B.I.G.
In today’s marketplace for consumer product companies, the digital shelf dominates as the core channel for brand growth and sustainability. The reduction in physical shelf space and the global pandemic have exponentially increased the change in consumer behavior to favor purchasing online.
Many consumer product brands are struggling with this reality and have failed to focus on the importance of the digital shelf. Such brands are ripe for consolidation, and Vinco will seek to lead the effort to consolidate those brands.
Vinco is poised to leverage the new market opportunity by utilizing their B.I.G. Strategy: Buy. Innovate. Grow.
BUY: Vinco will seek to acquire one significant brand per quarter commencing with the acquisition of Honey Badger Media, the media technology platform acquisition announced today.
Acquisitions are our model. The specific attributes of the target companies will evolve with the market, but the core focus will remain digital media and consumer product companies.
The Vinco target brand acquisitions will be segmented into 3 Tiers:
- Tier 1 brand acquisitions generate $20M+ in top line revenue.
- Tier 2 brand acquisitions generate $10-19M in top line revenue.
- Tier 3 brand acquisitions generate $0-9M in top line revenue.
INNOVATE: The core brands for Vinco will leverage the digital traffic platforms of Pop Nation and Honey Badger. By significantly improving both the traffic volume and the conversion metrics, the brands will more easily scale and innovate around the products that are most successful.
The Vinco brands receive a competitive advantage by having access to the digital traffic engine that has produced the following results:
- 2 Billion Video Views in October 2020
- 20 Million unique Sessions of unpaid traffic in one day to a directed page
- 150 Million Unique visitors to owned/controlled domains a month
- 1 Billion ad impressions per month
- Over $50 Million in historical revenue generated from platform
- $3 Million on video views from Facebook 2019
- Generated traffic for brands ranging from travel, CBD, Credit Repair, skin cream, men’s health, wrinkle cream, diet, muscle building
GROW: Growth is fueled through acquisition and innovation. As the third step in our business, it’s the result of proper execution of our acquisition strategy and efficient innovation. By coupling these two principles together we scale quickly and profitably.
Welcome to the Vinco Team
Brian McFadden, Chief Strategy Officer
Mr. McFadden currently operates a consulting company focused on business development in the digital direct to consumer space. Mr. McFadden’s company has been successful in launching several direct-to-consumer products for both internal concepts as well as Fortune 500 companies. Mr. McFadden has been integral in the creation of several cellular communications patents in previous business experience. With substantial experience in the live shopping and digital commerce space, Mr. McFadden brings with him a wealth of industry knowledge and contacts. Additionally, a serial entrepreneur Brian will assist in identifying and targeting our acquisitions to ensure for long term growth and scale.
Laurie Argall, VP of Branding and Media Content
Ms. Argall currently owns and operates a successful social media network of influencers, content creators and celebrities. Ms. Argall started her career in social media monetization by building blogs for celebrities, having grown her network on Facebook to over 150 million fans with clients from Adalia Rose, Bam Margera and Joy of Mom. Driving traffic to her websites in excess of over 150 million unique visitors monthly, Ms. Argall has a unique ability to identify what will trend on social media and go viral. Ms. Argall was able to expand her network after adapting to Facebook’s ever-changing platform from blog +article monetization to video monetization.
James Ulrich, Esq. Nominated as a Board Member
Jim Ulrich is an NFL and MLB-Certified Agent and sports law attorney with more than two decades of experience representing elite professional athletes. He is known for his in-depth knowledge of the business of sports and trusted, long-standing relationships with coaches, executives and other personnel throughout the leagues. Jim is a partner at Enter-Sports Management, a full-service agency for professional athletes with offices in Philadelphia, Atlanta, Fort Lauderdale and Charlotte. As an attorney specializing in sports law, Jim handles all aspects of his clients’ legal needs, such as immigration, litigation, and matters involving both NFL and MLB Collective Bargaining Agreements.
Updated Guidance for 2020 for Edison Nation and Edison Nation Medical and PPE performance
COVID-19 has created both opportunity and a considerable amount of uncertainty across many markets including the sourcing and sale of Personal Protective Equipment. While we were initially excited regarding the confirmed orders that we received, we have realized that the supply side of the industry is unable to keep up with the current global demand. In response, we have adjusted our corporate guidance in the PPE space from fiscal year 2020 to include the initial two quarters of 2021 to allow sufficient time for delivery. Additionally, we will provide separate detail revenue and margin guidance for all PPE and non PPE business going forward. While we still remain confident in our confirmed demand and ability to supply the products required, we have taken a different approach moving forward due to the uncertainty of timing of production and transportation which has caused the additional time added to our initial guidance.
Revenue Guidance for Fiscal 2021
Current Brand Sales
911 Help Now Brand: $7.1M
HMNRTH/Wellness Brand $3.8M
Purple Mountain/Global Clean Brand: $8.2M
4Keeps Roses Brand: $1.6M
Royalty Streams: $1.1M
Total Current Brand Sales: $21.8
Current Media/Technology and B to B Sales
911 Help Now License: $2.8M
Honey Badger Media $6.4M
Business to business sales and services: $7.1M
Total Media/Technology and B to B Sales: $16.3M
Target for Additional Sales for 2021 via B.I.G. Strategy of one acquisition per Quarter: $17M
Note: The revenue guidance above does not include sales related to the Cloud B brand as currently those assets are being negotiated for sale and further the estimated revenue related to PPE supplies are anticipated to be recognized on a net revenue basis without including the costs of the shipped products.
Thank you for time and support as a shareholder in Vinco. We look forward to a new beginning and B.I.G. things in 2021. We have also included a link to the new investor presentation for your review and consideration.
About Vinco Ventures, Inc.
Vinco Ventures, Inc. (BBIG), a consumer products and digital marketing company which aims to advance both product and people brand recognition through our digital marketing and technology platform while reshaping how those are monetized and marketed. Vinco’s B.I.G. (Buy. Innovate. Grow.) strategy will seek out acquisition opportunities that allow for generating digital traffic that will allow for growth and profitability. For more information, please view our investor presentation or visit Investors.vincoventures.com.
Forward-Looking Statements and Disclaimers
Certain statements in this announcement are forward-looking statements which are based on the Company’s expectations, intentions and projections regarding the Company’s future performance, anticipated events or trends and other matters that are not historical facts, including expectations regarding: (i) the Company’s long-term targets, goals and strategies; (ii) the expected benefits of the Company’s focus on digital monetization; (iii) the future impact of the preemptive actions the Company took in response to the COVID-19 pandemic coupled with its cash flow generation and balance sheet and liquidity profile; (iv) the Company’s strategies for each of its segments, including its focus on recurring revenue, its balance sheet and variable cost structure, and the opportunities in the industries the Company serves; (v) the Company’s positioning for future growth and its ability to optimize performance of existing businesses, pursue its disciplined acquisition strategy and effectively manage its capital structure; (vi) the fragmentation of the markets in which the Company operates, the acquisition opportunities in those markets, the Company’s intent to continue to explore opportunistic acquisitions and the Company’s capacity to absorb additional acquisitions; (vii) certain expected 2020 financial results, including the Company’s updated guidance for 2020, the assumptions it made and the drivers contributing to its guidance; (viii) the Company’s flexibility to capitalize on the current environment and invest in potential strategic opportunities; and (ix) the impacts of the COVID-19 pandemic on the future operating and financial performance of the Company and its customers, the Company’s plans and strategies to adapt and respond to the pandemic and the expected impact of those plans and strategies. These statements are not guarantees of future performance and are subject to known and unknown risks, uncertainties and other factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements, including: (i) economic conditions, competition and other risks that may affect the Company’s future performance, including the impacts of the COVID-19 pandemic on the Company’s business, markets, supply chain, customers and workforce, on the credit and financial markets, on the alignment of expenses and revenues and on the global economy generally; (ii) the ability to recognize the anticipated benefits of the Company’s acquisitions, including its ability to successfully integrate and make necessary capital investments to support additional acquisitions, and the Company’s ability to take advantage of strategic opportunities; (iii) changes in applicable laws or regulations; (iv) the possibility that the Company may be adversely affected by other economic, business, and/or competitive factors; and (v) other risks and uncertainties. Given these risks and uncertainties, prospective investors are cautioned not to place undue reliance on forward-looking statements. Forward-looking statements speak only as of the date of such statements and, except as required by applicable law, the Company does not undertake any obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise.
Phone: (866) 536-0943
Debt Consolidation: Market 2021 also Industry is Booming Worldwide with Key Players
Debt Consolidation Market With COVID19-Pandemic Impact Analysis:
Debt Consolidation Market 2021 this report is including with the COVID19 Outbreak Impact analysis of key points influencing the growth of the market. Also, Debt Consolidation Market (By major key players, By Types, By Applications, and Leading Regions) Segments outlook, Business assessment, Competition scenario, Trends and Forecast by Upcoming Year’s. The study of the Debt Consolidation report is done based on the significant research methodology that provides the analytical inspection of the global market based on various segments the Industry is alienated into also the summary and advance size of the marketplace owing to the various outlook possibilities. The report also gives 360-degree overview of the competitive landscape of the industries. SWOT analysis has been used to understand the strength, weaknesses, opportunities, and threats in front of the businesses. Thus, helping the companies to understand the threats and challenges in front of the businesses. Debt Consolidation market is showing steady growth and CAGR is expected to improve during the forecast period.
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This Free report sample includes:
- A brief introduction to the Debt Consolidation Market research report.
- Graphical introduction of the regional analysis.
- Top players in the Debt Consolidation Market with their revenue analysis.
- Selected illustrations of Debt Consolidation Market insights and trends.
- Example pages from the Debt Consolidation Market report.
The Major Players in the Debt Consolidation Market.
Credit Repair Australia
Australian Debt Agreements
The DCS Group has
Sort My Debt
Clear Credit Solutions
Australian Debt Solvers
Australian Lending Center
The Debt Consolidation Market Report Helps You in Understanding:
- Dominant and emerging trend analysis, elaborate references of key drivers, restraints, threats and challenges besides also harping on product categorization as well as industry chain analysis that collectively influence uniform growth
- The Debt Consolidation market report lends amplified focus on important business priorities and investment choices preferred by key players as well as contributing players
- The Debt Consolidation market report discusses at length the core growth pattern and market dimensions, besides also harping on decoding the competition spectrum for thorough business discretion
Key Businesses Segmentation of Debt Consolidation Market
on the basis of types, the Debt Consolidation market from 2015 to 2026 is primarily split into:
Credit Card Debt
Overdrafts or Loans
on the basis of applications, the Debt Consolidation market from 2015 to 2026 covers:
Some of the key factors contributing to the Debt Consolidation market growth include:
Regional Debt Consolidation Market Analysis:
It could be divided into two different sections: one for regional production analysis and the other for regional consumption analysis. Here, the analysts share gross margin, price, revenue, production, CAGR, and other factors that indicate the growth of all regional markets studied in the report. covering
|North America||U.S. & Canada|
|Europe||U.K., Germany, France, Italy, Spain, Hungary, BENELUX, NORDIC, Rest of Europe|
|Asia-Pacific||China, India, Japan, South Korea|
Australia, New Zealand, Rest of Asia-Pacific
|Latin America||Brazil, Mexico, Argentina, Rest of Latin America|
|Middle East and Africa||Israel, GCC, South Africa, Rest of Middle East and Africa|
- Growing per capita disposable income
- Favorable for youth Demographics
- Technology advancement
In terms of COVID 19 impact, the Debt Consolidation market report also includes following data points:
- Impact on Debt Consolidation market Size
- End User Trend, Preferences and Budget Impact of Debt Consolidation market
- Regulatory Framework/Government Policies
- Key Players Strategy to Tackle Negative Impact of Debt Consolidation market
- New Opportunity Window of Debt Consolidation market
Key Question Answered in Debt Consolidation Market Report.
- What are the strengths and weaknesses of the Debt Consolidation Market?
- What are the different marketing and distribution channels?
- What is the current CAGR of the Debt Consolidation Market?
- What are the Debt Consolidation market opportunities in front of the market?
- What are the highest competitors in Debt Consolidation market?
- What are the key outcomes of SWOT and Porter’s five techniques?
- What is the Debt Consolidation market size and growth rate in the forecast period?
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Major Points from Table of Contents:
There are 13 Chapters to thoroughly display the Debt Consolidation market. This report included the analysis of market overview, market characteristics, industry chain, competition landscape, historical and future data by types, applications, and regions.
- Chapter 1: Debt Consolidation Market Overview, Product Overview, Market Segmentation, Market Overview of Regions, Market Dynamics, Limitations, Opportunities and Industry News and Policies.
- Chapter 2: Debt Consolidation Industry Chain Analysis, Upstream Raw Material Suppliers, Major Players, Production Process Analysis, Cost Analysis, Market Channels, and Major Downstream Buyers.
- Chapter 3: Value Analysis, Production, Growth Rate and Price Analysis by Type of Debt Consolidation.
- Chapter 4: Downstream Characteristics, Consumption and Market Share by Application of Debt Consolidation.
- Chapter 5: Production Volume, Price, Gross Margin, and Revenue ($) of Debt Consolidation by Regions.
- Chapter 6: Debt Consolidation Production, Consumption, Export, and Import by Regions.
- Chapter 7: Debt Consolidation Market Status and SWOT Analysis by Regions.
- Chapter 8: Competitive Landscape, Product Introduction, Company Profiles, Market Distribution Status by Players of Debt Consolidation.
- Chapter 9: Debt Consolidation Market Analysis and Forecast by Type and Application.
- Chapter 10: Debt Consolidation Market Analysis and Forecast by Regions.
- Chapter 11: Debt Consolidation Industry Characteristics, Key Factors, New Entrants SWOT Analysis, Investment Feasibility Analysis.
- Chapter 12: Debt Consolidation Market Conclusion of the Whole Report.
- Chapter 13: Appendix Such as Methodology and Data Resources of Debt Consolidation Market Research.
(*If you have any special requirements, please let us know and we will offer you the report as you want.)
Note – In order to provide more accurate market forecast, all our reports will be updated before delivery by considering the impact of COVID-19.
Teams eliminated during the NFL’s Divisional Round face major offseason questions
It’s brutal to lose in the Divisional Round of the 2020-2021 NFL Playoffs — it leaves most of the teams that get eliminated with pressing questions. Questions ranging from easy ones (“How do we take the next step”) to difficult ones (“How do we keep the salary cap from tearing us apart next year?”) to downright existential ones (“Is everything we are trying to accomplish doomed to failure?”). The Baltimore Ravens, Los Angeles Rams, Cleveland Browns, and New Orleans Saints are grappling with those questions now that their 2020 seasons have come to a close.
Here’s an NFL Recap look at what lies ahead for the four eliminated teams from Divisional Round action that came so close to the Super Bowl, and yet are still so far away.
Editor’s note — bookmark the main page on Pro Football Network for all of Mike’s thoughts in the full NFL Recap beyond this Conference Championship preview!
The first eliminated team of the NFL Divisional Round: Los Angeles Rams
The Rams enter the offseason $22 million over the salary cap. Their in-house free agent list is led by top defensive backs Troy Hill and Darious Williams, both of whom will be expensive to keep. And the Rams lack a first-round pick because of the Jalen Ramsey trade (which feels like it happened two days after the Herschel Walker trade). Other than that, everything is peachy-keen.
The Rams will have trouble retaining second-tier in-house free agents like center Austin Blythe, receiver Josh Reynolds, or tight end Gerald Everett, let alone someone like Williams unless they perform some serious credit repair. Look for an offseason of restructured contracts, free agent departures, and very little good news as the Rams try to keep their playoff window from slamming shut.
The second eliminated team of the NFL Divisional Round: Baltimore Ravens
Lamar Jackson needs to become a more consistent passer outside the numbers. The Ravens’ offense needs a legitimate Plan B when they fall behind by more than a touchdown or when their option running game is bottled up.
And the whole team needs to find ways to avoid the type of catastrophic big-game failures that get them eliminated in NFL Playoff games. Red zone collapses, silly mistakes, and sudden reversals in which a long drive turns into seven points for the opponent have destroyed them.
Featured | Valdovinos’ 3-round 2021 NFL Mock Draft
The Ravens must also keep daring to be different. They must avoid the trap of thinking that Jackson or their offense has some special deficiency that will doom them to playoff also-ran status. Jackson and the Ravens are easy targets for lazy skepticism because they are so unique. If Jackson were a pocket passer in a conventional offense, he could go 8-8 for years while facing only moderate criticism while earning dump trucks full of money to almost win Wild Card games.
The Ravens have quantitative problems, not qualitative ones. They are a few tweaks, not an overhaul, away from the Super Bowl. Fortunately, they are also one of the best organizations in the league when it comes to sticking to their long-range plan.
Sights set on next year: Cleveland Browns
Going from 0-16 to 11-5 is easy, especially when it takes three years to do it. Going from 11-5 to the Super Bowl is much harder because the Browns will be swimming against the tides of the salary cap, draft order, and a harder 2021 schedule.
Self-scouting is crucial for an NFL team at the Browns’ stage of development and eliminated in the Divisional Round. They cannot fool themselves into thinking that they are “one player away” or that further improvements will just happen automatically.
The Browns’ salary cap situation is pretty good. It’s about $24 million in on-paper space, much of which will likely be spent on extensions, even if the team takes another year to wait-and-see on Baker Mayfield (guard Wyatt Teller, for example, is in the final year of his rookie contract).
Extra third and fourth-round picks from past trades will help spackle some holes. And Odell Beckham returns next year, which is almost certainly a good thing. The Browns sorely need a receiver who can stretch the field, and Beckham is only about 15-20% as much of a loopy distraction as your father-in-law insists he is.
The Browns should be at least as good in 2021 as they were in 2020. That’s fine, so long as an organization with zero history of sustaining success realizes that any team that doesn’t get ahead in the NFL ends up falling behind.
Sights set on next year: New Orleans Saints
The Saints are an eliminated team, and will be up Schitt’s Creek the moment Drew Brees retires from the NFL. They’re so deep in cap debt ($95 million entering the 2021 offseason) that the whole team will have to live in a motel room in a Canadian countryside town full of quirky characters just to make ends meet.
The Saints face the greatest cap crisis in NFL history, and Recap doesn’t have the bandwidth or word count to dig into the macroeconomics of what they will have to do to field a roster next year. Let’s just say that we will get to see what the Taysom Hill/Alvin Kamara option package looks like when half of the remaining roster is earning the league minimum.
Top scams of 2020; what to watch out for in 2021
Some of the most common were fake websites tricking consumers into making a purchase who then never get the product. This is something the I-Team has exposed during the pandemic with people never getting the Personal protective equipment they ordered.
Another involved the sale of counterfeit products.
Employment or job offer scams where you’re possibly asked to send money to make money were also popular.
It’s also worth mentioning all of these include “COVID-19” related scams which on its own came in at number four.
One thing to always remember to avoid getting scammed is to thoroughly research websites before you send anyone money.
Top 10 Scams of 2020:
1. Online Purchase – fake websites
2. Counterfeit Products (Clothing, electronics, shoes, purses, etc.)
3. Employment – scam job offers
4. COVID Related Scams – (These may be much higher – COVID is sited in other categories)
5. Debt Collections – invoices, calls or emails for fake debts
6. Advance Fee Loan – the promise of a “loan” – after you pay fees
7. Phishing Scams – (Clicking on scam links can lead to malware – imposter scams etc.)
8. Credit Card – Includes fake emails and calls claiming there’s a problem with your account in order to steal money and information – or fake credit card debt consolidation
9. Credit Repair/Debt Relief
10. Identity Theft -can we say not a matter of if but when it will happen to you?
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