Adaptive Medias, Inc. (OTC Pink: ADTM) is engaged as a cannabis and cryptocurrency company. Shares of the diversified company are rallying 25%, through early trading on Thursday, February 22, 2018. Over the past month, Adaptive Medias, Inc. has seen average daily volume of 169.88 million shares. However, volume of 259.87 million shares or dollar volume of $285,857, has already exchanged hands on the day.
Shares of Adaptive Medias, Inc. are rallying today, after the company announced that it is planning to change its name to “The Perfect Circle, Inc.” as the company transitions into cryptocurrency and cannabis company. The company is also pleased to announce that it has signed a partnership agreement with crypto pioneer, PlutusX, which will assist in the development of an alternative payment solution using cryptocurrency assets. Here is the full press release detailing of the new crypto banking platform being developed:
Adaptive Medias, Inc. Press Release:
LOS ANGELES, CA, Feb. 22, 2018 (GLOBE NEWSWIRE) — Adaptive Medias, Inc. (Ticker: ADTM), to be soon renamed as “The Perfect Circle, Inc.” as part of its plan to reinvent itself as a financier for the cannabis industry, today announced that it has entered into an exclusive partnership with PlutusX, one of the pioneers of a unique crypto-asset and investing platform developed through blockchain technology, to jointly develop and launch an alternative payment solution through the use of crypto-assets.
Under the terms of the agreement, The Perfect Circle and PlutusX will form a separate subsidiary to be wholly-owned by The Perfect Circle that will focus on the development of a blockchain-enabled full-service banking platform that will include a number of new and innovative products that will include, but not be limited to, cryptocurrencies, insurance, credit cards, savings and loans and wealth management.
“Since cannabis remains illegal on the federal level, most financial institutions are prohibited from servicing cannabis enterprises,” said John B. Strong, Chairman and Chief Executive Officer of Adaptive Medias, Inc. “Although this has presented many companies with a hurdle they cannot seem to overcome, we felt the problem would be solved with just a bit more creativity and a level of ingenuity that will prove to be our single biggest competitive advantage as we reinvent ourselves. Rather than waiting for the federal government to change its stance on cannabis, we believe the solution to industries that face similar banking challenges is through the acceptance of an alternative form of payment that we look forward to developing as part of our agreement with PlutusX,” concluded Mr. Strong.
“PlutusX recognized the tremendous potential of crypto-assets early on and has been one of the early adopters of new and alternative payment methods, which are expanding at record speeds today for industries that demand such solutions in order to support their continued expansion,” said Angel Mondragon, Founder and Chief Executive Officer of PlutusX. “We have spent the past two years solidifying PlutusX’s blockchain-based crypto-asset platform and are excited to partner with Perfect Circle to jointly further develop and launch what could emerge as one of the primary solutions to banking issues challenging various growth industries. In doing so, together we could further accelerate what has already emerged as one of the fastest growing industries we have experienced since the dot com era,” concluded Mr. Mondragon.
ABOUT ADAPTIVE MEDIAS, INC. (TO BE RENAMED THE PERFECT CIRCLE)
Adaptive Medias, Inc. (Ticker: ADTM) will soon be renamed as The Perfect Circle, Inc. as part of the Company’s transition into a pure cannabis play. The Company’s new cryptocurrency division will focus on developing and launching alternative payment methods, including developing a solution to address the banking issues facing the emerging cannabis industry. The Company is currently in the process of strengthening its management team in advance of a global debut of its new technology. For additional information, please dial 855-FUND-420.
(This Press Release may contain certain forward-looking statements within the meaning of the Securities Litigation Reform Act of 1995. Adaptive Medias, Inc. has tried, whenever possible, to identify these forward-looking statements using words such as “anticipates,” “believes,” “estimates,” “expects,” “plans,” “intends,” “potential” and similar expressions. These statements reflect Adaptive Medias’ current beliefs and are based on information currently available to it. Accordingly, such forward-looking statements involve known and unknown risks, uncertainties and other factors which could cause Adaptive Medias’ actual results, performance or achievements to differ materially from those expressed in or implied by such statements. Adaptive Medias undertakes no obligation to update or provide advice in the event of any change, addition or alteration to the information contained in this Press Release including such forward-looking statements.)