Vinco Ventures, Inc. (NASDAQ: BBIG), a digital media and content technologies holding company recently announced its results for the year and fourth quarter ended December 31, 2021 on Friday, April 15, 2022. And, it held its earnings call webcast on Monday morning before market opened.

During the call, the company’s CEO Lisa King said that the company anticipates Cryptyde’s spin-off to be done by Q2, 2022. She also said BBIG is working on acquiring Zash’s remaining interest in ZVV.

Adrizer Acquisition

Vinco Ventures completed the acquisition of AdRizer LLC, a provider of technology solutions that automate the use of artificial intelligence for digital advertising analytics and programmatic media buying, for consideration consisting of $38 million in cash paid at closing and up to 10 million shares of common stock of the Company issuable on January 1, 2024, with certain leak-out restrictions.

Other Operational Highlights
  • Following the conclusion of Lomotif’s global talent search “You’ve Been Scouted,” India’s Yatin Kumar was offered an album deal to collaborate with Grammy-winning producer Teddy Riley, who has worked with Michael Jackson, Lady Gaga, Pharrell, and BTS. The record is nearing completion and will be released in the next weeks, including promotion via the Lomotif platform.
  • In order to engage consumers, the Company actively sought out opportunities to live stream entertainment events on our Lomotif social media platform, utilising our blended media, cross-platform distribution approach.
  • The Electric Daisy Carnival (EDC) in Las Vegas in October 2021, the largest electronic dance music festival in North America, is another example of the Company’s efforts to boost views and engagement for the Lomotif platform and content under the Lomotif brand.
  • Another example of Vinco’s blended media cross-platform distribution strategy was an exclusive distribution agreement with Insomniac, a top music festival and event producer, to live stream Shaquille O’Neal’s Big Game Weekend Party “Shaq’s Fun House” on LomoTV in February 2022, which generated millions of views across social media platforms around the world, extending the reach of the Lomotif brand.
CEO’s Statement

“As of the end of 2020, we had a market cap of approximately $20 million and total stockholders’ equity of approximately $14 million, and through equity growth and our acquisition of an 80% equity interest in Lomotif through ZVV Media Partners, our joint venture with ZASH Global Media and Entertainment, our market cap has increased as of the end of last week to over $507 million and our total stockholders’ equity has increased to $134 million. As we continue our transition to a digital media and content technologies company, we are focused on our four pillars: We strive to entertain broad global audiences with compelling content, engage users with rich experiences on our Lomotif social media platform, create unique opportunities to endorse and advertise brands through our marketing platform and influencer relationships, and enrich the lives of our users. We believe we can continue to grow into a robust international media and entertainment company focused on content and engagement with millions of users around the world.”

said CEO Lisa King
Cryptyde

Cryptyde Inc, the Company’s subsidiary, filed a Form 10 registration statement with the SEC in connection with the anticipated spin-off of Cryptyde, which currently owns CW Machines, LLC and Ferguson Containers, Inc. through a joint venture. In Q1 2022, Cryptyde’s joint venture CW Machines debuted its crypto mining equipment reselling business and welcomed its first customers. Freescape Metaverse characters from Cryptyde have been produced and will be released in Q2/Q3 2022.

Financial Highlights: 2021
  • Cash, cash equivalents, and restricted cash totaled $187.6 million at December 31, 2021.
  • Unrestricted cash at December 31, 2022 of $87.6 million.
  • As Vinco transitioned to a digital media and content technology company, revenue from continuing operations decreased 18.5% to $9.8 million from $12.0 million in 2020.
  • Gross profit increased 1.3% to $2.48 million from $2.45 million in 2020.
  • Selling, general and administrative expenses from continuing operations were $78.9 million compared to $10.0 million in 2020.
  • Other income and expenses in 2021 were $635.8 million as compared to $3.4 million in 2020.
  • Net loss in 2021 was $713.2 million, or ($11.24) per basic and diluted share, compared to a net loss of $5.2 million, or ($0.49) per basic and diluted share in 2020.
  • Total stockholders’ equity increased to $133.7 million from $13.5 million in 2020.

Fourth Quarter Highlights

  • Cash, cash equivalents, and restricted cash totaled $187.6 million at December 31, 2021.
  • Unrestricted cash at December 31, 2022 of $87.6 million.
  • Revenue from continuing operations decreased 1.5% to $2.23 million from $2.33 million in the fourth quarter of 2020.
  • SGA costs from continuing operations were $35.2 million, of which $26.6 million or 75.4% was stock based compensation.
  • In the fourth quarter of 2021, the Company recognized a net income of $71.7 million, compared to a net income of $3.8 million in the fourth quarter of 2020.
BBIG stock

The BBIG stock was down by 0.0287% and traded at $2.4393 (up by 0.0007 points) at 9:38 a.m. EDT in the market trading session today. The market capitalization of the stock stood at $458.57 million. The share volume traded for the BBIG stock 2,503,071, much lesser than average share volume 31,447,913.

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