The Company files its second quarter SEC report and provides an update describing recent business progress
SAN ANTONIO, Aug. 17, 2021 (GLOBE NEWSWIRE) — AiAdvertising, Inc. (AIAD) (formerly CloudCommerce, Inc. / CLWD), an innovative technology company harnessing the power of Artificial Intelligence to eliminate waste and drive performance in digital advertising, today announced that the Company has filed its second quarter report on Form 10-Q with the Securities and Exchange Commission and provided an update on its recent business progress.
“What a difference six months can make,” said Andrew Van Noy, CEO of AiAdvertising. “At the start of this year, we were working hard to become a tech company. Our cash reserves were very limited, and corporate debt was daunting. Now, as described in our Form 10-Q, we have money in the bank and reduced our outstanding debt, due to our successful capital raise. On the technology front, our progress has been remarkable.”
Business highlights for the first six months of 2021 include:
Established a wholly owned subsidiary AiAdvertising with the primary focus of harnessing the power of AI to eliminate waste in digital advertising
Announced its flagship solution – a unified AI platform
Closed a $10 million equity financing transaction
Announced plan to change corporate name to AiAdvertising, Inc. which was recently completely and had our stock commence trading under a new ticker symbol AIAD
Retired term debt and redeemed Series F Preferred Stock to strengthen our balance sheet
Divested our non-core hosting business for cash
Embarked on transformation from providing advertising services to providing advertising technology
Achieved early success by outperforming client KPI goals
Recruited global IP expert Peter Holden to develop the patent strategy
Hired global sales leader Jon Romano to establish a national salesforce
Currently on-boarding several new clients across various industries
AiAdvertising, Inc. (AIAD) is an advertising technology company offering innovative solutions through the use of artificial intelligence (AI), machine learning (ML), and data science. Its flagship solution, the Campaign Performance Platform, is the digital ad industry’s first cloud-hosted ad management platform that leverages AI, enabling marketers to eliminate waste, predict winning creative, dynamically scale creative, generate more leads, acquire more customers, and increase ROI. For more information about the Company, please visit www.AiAdvertising.com or our LinkedIn or Twitter pages.
This press release may contain “forward-looking statements.” Forward-looking statements are neither historical facts nor assurances of future performance. Instead, they are based only on our current beliefs, expectations and assumptions regarding the future of our business, future plans and strategies, projections, anticipated events and trends, the economy and other future conditions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict and many of which are outside of our control. Our actual results and financial condition may differ materially from those indicated in the forward-looking statements. Therefore, you should not rely on any of these forward-looking statements. Important factors that could cause our actual results and financial condition to differ materially from those indicated in the forward-looking statements are included in our filings with the Securities and Exchange Commission, including the “Risk Factors” section of our annual report on Form 10-K for the year ended December 31, 2020. Any forward-looking statement made by us in this release is based only on information currently available to us and speaks only as of the date on which it is made. We undertake no obligation to publicly update any forward-looking statement, whether written or oral, that may be made from time to time, whether as a result of new information, future developments or otherwise, except as may be required under applicable law.