PhunCoin by Phunware to Begin Trading
AUSTIN, Texas, Nov. 19, 2021 (GLOBE NEWSWIRE) -- Phunware, Inc. (NASDAQ: PHUN) (the “Company”), a fully-integrated enterprise cloud platform for mobile known as Multiscreen-as-a-Service (“MaaS”) that provides products, solutions, data and services for brands worldwide, announced it will begin processing initial issuances of PhunCoin (PHCN), which will be available for trading exclusively on Securitize, the first blockchain-enabled transfer agent registered with the United States Securities and Exchange Commission (SEC).
Anyone who already invested in PhunCoin through previous exemptions such as Regulation D and Regulation CF will receive specific instructions on how to consent to their PhunCoin issuance, set up a Securitize account, complete requisite screening requirements and receive their PhunCoin. Following these initial distributions, Phunware will still reserve approximately 72% of the maximum available supply, which is 100 billion PhunCoin. One PhunCoin is currently valued at $0.008.
“As we work to commercialize a truly decentralized data economy, we’re thrilled to begin building a market for one of the world’s first regulated cryptocurrencies designed for mainstream adoption,” said Alan S. Knitowski, President, CEO and Co-Founder of Phunware. “PhunCoin is an important first step towards ensuring consumers not only control their data, but also are compensated fairly when their data is purchased by brands.”
PhunCoin is an innovative cryptocurrency uniquely positioned for mainstream adoption because it is leveraging the global reach and distribution of a NASDAQ-listed company that specializes in consumer engagement and monetization. Founded in 2009, Phunware has developed mobile ecosystems for some of the world’s most recognizable brands. Phunware has also generated over 15 billion Phunware IDs tied to consumers all over the world and developed a customer data platform (“CDP”) that manages approximately one billion monthly active devices when operating at scale.
Managed by PhunWallet, which is available on Apple App Store and Google Play, PhunCoin works alongside PhunToken in support of a dual token economy that seeks to blockchain-enable Phunware’s CDP. While PhunToken is now available for purchase here, PhunCoin will only be available pursuant to approved regulatory exemptions.
Safe Harbor Clause and Forward-Looking Statements
The forward-looking statements contained in this press release are based on our current expectations and beliefs concerning future developments and their potential effects on us. Future developments affecting us may not be those that we have anticipated. These forward-looking statements involve a number of risks, uncertainties (some of which are beyond our control) and other assumptions that may cause actual results or performance to be materially different from those expressed or implied by these forward-looking statements. These risks and uncertainties include, but are not limited to, those factors described under the heading “Risk Factors” in our filings with the Securities and Exchange Commission (SEC), including our reports on Forms 10-K, 10-Q, 8-K and other filings that we make with the SEC from time to time. Should one or more of these risks or uncertainties materialize, or should any of our assumptions prove incorrect, actual results may vary in material respects from those projected in these forward-looking statements. We undertake no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required under applicable securities laws. These risks and others described under “Risk Factors” in our SEC filings may not be exhaustive.
By their nature, forward-looking statements involve risks and uncertainties because they relate to events and depend on circumstances that may or may not occur in the future. We caution you that forward-looking statements are not guarantees of future performance and that our actual results of operations, financial condition and liquidity, and developments in the industry in which we operate may differ materially from those made in or suggested by the forward-looking statements contained in this press release. In addition, even if our results or operations, financial condition and liquidity, and developments in the industry in which we operate are consistent with the forward-looking statements contained in this press release, those results or developments may not be indicative of results or developments in subsequent periods.
About Phunware, Inc.
Everything You Need to Succeed on Mobile — Transforming Digital Human Experience
Phunware, Inc. (NASDAQ: PHUN), is the pioneer of Multiscreen-as-a-Service (MaaS), an award-winning, fully integrated enterprise cloud platform for mobile that provides companies the products, solutions, data and services necessary to engage, manage and monetize their mobile application portfolios and audiences globally at scale. Phunware’s Software Development Kits (SDKs) include location-based services, mobile engagement, content management, messaging, advertising, loyalty (PhunCoin & PhunToken) and analytics, as well as a mobile application framework of pre-integrated iOS and Android software modules for building in-house or channel-based mobile application and vertical solutions. Phunware helps the world’s most respected brands create category-defining mobile experiences, with approximately one billion active devices touching its platform each month when operating at scale. For more information about how Phunware is transforming the way consumers and brands interact with mobile in the virtual and physical worlds, visit https://phunware.com, https://phunwallet.com, https://phuncoin.com, https://phuntoken.com, and follow @phunware, @phuncoin and @phuntoken on all social media platforms.
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