Tag: Vinco Ventures (Page 2 of 2)

Investors Raise Concerns of Vinco Ventures New Board

Market News Daily – Investors Raise Concerns of Vinco Ventures New Board.

Investors are raising concerns about Vinco Ventures (NASDAQ:BBIG) new board members after the company announced on Thursday it had approved a new COO and CFO.

The company is naming James Robertson Chief Executive Officer and President and Chris Polimeni Chief Financial Officer and Chief Operating Officer. 

The announcement follows a letter to shareholders from Vinco Ventures Executive Chairman of the Board of Director Rod Vanderbilt that outlined the multi-faceted strategic plan for driving growth and shareholder value.

In that letter, Vanderbilt urges investors to approve its new dilution proposals at the upcoming shareholder meeting taking place on April 27.

But investors shared their thoughts on social media and strongly reject the proposals.

“Today marks a critical moment for Vinco Ventures as we shift our focus from the navigation of legacy roadblocks to assertive strategic growth initiatives that will further diversify our business and enhance the opportunities for new avenues of revenue growth,” said Vanderbilt.

“The Board’s unanimous approval of James and Chris underscores our commitment to moving forward and developing sound strategies and opportunities to generate new and innovative revenue streams for the Company.”

Shareholders raise concerns as the company stock continues to drop this year and new members join the board without shareholder approval.

Investors say Vinco Ventures is jumping from project to project without actually accomplishing something sound and proven.

You can read more about the executive’s background on the official press release.

BBIG stock is currently down more than -46% this year-to-date.

BBIG Stock News Today

Market News Daily - Investors Raise Concerns of Vinco Ventures New Board.
Market News Daily – Investors Raise Concerns of Vinco Ventures New Board.

The latest Vinco Ventures news comes a day prior to a court hearing happening on Friday, April 21st.

BBIG investors are suing company executives, including former co-CEOs Theodore Farnsworth and Lisa King in a new lawsuit.

The plaintiffs in the case are Shadwrick VickChristopher Muntz, and Darryl Wayne Genis.

Shadwrick and Christopher were two of the nominees elected by shareholders in March to join Vinco Venture’s Board of Directors.

The idea sprouted from investors wanting to help the board any way possible from an investor’s standpoint.

The initiative did not succeed, but shareholders are now taking a different approach.

Why is Vinco Ventures being sued by its investors?

BBIG investors believe that the company is failing everyday shareholders and must be held accountable.

Many investors allege fraud could be at play as they’ve seen their investments tumble with no sign of relief.

This is a developing story – join the newsletter below to receive the latest BBIG stock news and updates.

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Market News Today - Is Amazon buying AMC Entertainment?
Market News Today – Investors Raise Concerns of Vinco Ventures New Board.

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Vinco Urges Investors to Approve New Dilution Proposals

Market News Daily - Vinco Urges Investors to Approve New Dilution Proposals.
Market News Daily – Vinco Urges Investors to Approve New Dilution Proposals.

Vinco Ventures (NASDAQ:BBIG) is urging investors to approve dilution proposals that will increase shares and authorize a reverse stock split.

“Your approval of the proposals up for consideration at the Annual Meeting is critical to enable Vinco to successfully execute on our growth and value creation strategy.

Approving the a360 acquisition – including the purchase of the National Enquirer – is an essential first step.

Further, approving the increase in authorized shares and reverse stock split will give the Company necessary financial flexibility to operate successfully and also address potential NASDAQ-delisting concerns.

We also strongly recommend shareholders vote FOR the reelection of our five Board members, who collectively possess the right industry experience and skillsets to oversee the successful execution of the Company’s strategy to unlock value for shareholders.”

But BBIG investors are currently suing the company and its executives in a new lawsuit.

The plaintiffs in the case are Shadwrick VickChristopher Muntz, and Darryl Wayne Genis.

BBIG investors believe that the company is failing everyday shareholders and must be held accountable for the significant losses seen in the market.

Many investors allege fraud could be at play.

Here’s the latest BBIG stock news today.

Vinco Ventures Addresses Shareholders

Market News Daily - Vinco Urges Investors to Approve New Dilution Proposals.
Market News Daily – Vinco Urges Investors to Approve New Dilution Proposals.

Vinco Ventures published a press release addressing BBIG shareholders of its plans to move the company forward.

“With our Annual Meeting coming up on April 27, 2023, I wanted to provide some important updates and background on the business and our strategy.

I also want to explain why it is critical that you vote FOR all the Company’s proposals at the Annual Meeting to allow us to pursue the strategy we have laid out to drive growth and enhance the value of your investment.

We have a high-quality leadership team and Board in place and are excited to execute on our business strategy,” said Rod Vanderbilt, Executive Chairman of the Board of Directors of Vinco Ventures.

However, shareholders aren’t budging.

One investor on Twitter says, “$BBIG I’ve read it, NO THANKS BUDDY too late to speak up now. We’ve asked for a plan for over a year, Now you want to address us?”

The company outlines several commitments to shareholders in its latest press release.

But Vinco Ventures main goal is to receive shareholder approval to dilute BBIG stock.

The proposals would increase the number of outstanding shares and issue a reverse stock split, similar to what AMC Entertainment is going through at the moment.

Dilution will certainly help Vinco Ventures raise the capital it needs to stay afloat, but at what cost for its shareholders?

Vinco Ventures Announcements

“Importantly, the transactions we have already announced – as well as those we are actively pursuing – our strategy is acquiring companies that are EBITDA positive.

By acquiring companies such as these that fit strategically into our model, we can realize synergies and cross-sell opportunities that can boost revenue and profitability.

We will be evaluating intellectual property portfolios, such as copyrights, patents, and trademarks, to increase our content library and expand our licensing opportunities.

We look forward to announcing synergistic transactions in the near term to drive our M&A growth strategy.

We have already taken the first step, announcing in February our joint venture agreement with ICON Publishing, LLC, resulting in a newly formed subsidiary of the Company, VVIP Ventures, LLC (“VVIP”).

We also announced that VVIP had entered into an Asset Purchase Agreement with magazine publisher, a360media, LLC, to acquire the National Enquirer, National Examiner, Globe, and National Enquirer UK print and digital publishing assets.”

Vinco Ventures states that shareholder approval of the proposals up for consideration at the Annual Meeting is critical to enable Vinco to successfully execute on their growth and value creation strategy.

I’m curious to know your thoughts – share them in the comment section down below.

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Market News Today - Vinco Urges Investors to Approve New Dilution Proposals.
Market News Today – Vinco Urges Investors to Approve New Dilution Proposals.

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BBIG Shareholders Nominate Retail Investors for Board of Directors

Market News Today – BBIG Shareholders Nominate Retail Investors for Board of Directors.

On Thursday, a group of shareholders announced the nomination of three new “retail investor” candidates to the board of directors of Vinco Ventures (NASDAQ:BBIG), citing the company’s lack of transparency. 

The move comes in response to concerns about Vinco Ventures’ compliance with Nasdaq rules and regulations, including the company’s failure to file quarterly reports for Q2 and late filings of Q3 of 2022, as well as its failure to hold an annual meeting in 2022, according to the community’s website.

“There’s a lot of people hurting”, says Lorne Ross, one of the three retail investor candidates in a Twitter space call.

Shares of BBIG stock have fallen more than -22% this year-to-date alone and more than -77% in the past year, hitting a record all-time low.


The three nominees are Lorne Ross, Shadwrick Vick and Christopher Muntz.

I was able to hop on a space call and hear about what they had to say.

“This is just a little phase, this doesn’t guarantee anything, but it’s an action we’re taking”, says Vick, who also hosted the meeting.

The BBIG community wants to place retail investors on the Vinco Ventures Board of Directors in efforts to improve communication between the company and its shareholders, as well as help turn the company around.

BBIG Retail Investor News Today

Vinco Ventures - BBIG Stock
BBIG Stock News Today – Franknez.com.

Investors are supporting the effort to help the business go through what shareholders believe is much needed change.

Here are some comments from the BBIG Family press release:

“As a worldwide community of retail investors, we are deeply concerned about the recent Nasdaq deficiency notices received by Vinco Ventures and lack of transparency into our investment” said Shadwrick Vick, a shareholder of Vinco Ventures and a community nominee.

“It’s time to consider additional leadership that will prioritize transparency, accountability, and compliance.

Real people have put their hard-earned dollars into this company and deserve a roadmap, filings and basic communication”.

Shareholders feel the current board of directors are not serving retail investors’ best interests but rather those potentially of another party.

The retail investors plan to file their nomination materials with Vinco Ventures today, in accordance with the company’s bylaws and rules governing shareholder nominations. 

“We are confident that our nominees have the skills and expertise needed to help guide Vinco Ventures through these challenging times and position the company for long-term success,” said Austin Gilmore – Nominator. 

The nomination letter outlines the qualifications and experience of each nominee and highlights their commitment to creating value for all shareholders. 

The election of new board members is anticipated to take place at Vinco Ventures’ upcoming annual meeting.

Vinco Ventures Shareholder Meeting 2023

A filing shows Vinco Ventures will be holding an annual shareholder meeting on April 18, 2023 at 10:00am Eastern time.

The company is asking its investors to vote for a variety set of proposals that would dilute the company stock in order to raise more cash.

One of the proposals authorizes shares of common stock from 249,000,000 to 750,000,000 and to increase preferred stock from 1,000,000 to 5,000,000.

A reverse stock split in a range of 1:2-1:20 is also being proposed in the filing — similar to what AMC Entertainment shareholders have approved and to what Mullen Automotive will undergo should they fail to meet Nasdaq’s $1 bid per share compliance.

For more retail investor news, join the newsletter below to stay up-to-date in the community.

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Market News Today - BBIG Shareholders Nominate Retail Investors for Board of Directors.
Market News Today – BBIG Shareholders Nominate Retail Investors for Board of Directors.

For stock market, business news and updates, join the newsletter to receive weekly market news and notifications straight to your inbox.

Franknez.com is the media site that keeps retail investors informed.

You can also follow Frank Nez on TwitterInstagramFacebook, or LinkedIn for daily posts.


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