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 SWARM – 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 SWARM success by outperforming client KPI goals
- Recruited global IP expert Peter Holden to develop SWARM patent strategy
- Hired global sales leader Jon Romano to establish a national salesforce
- Currently on-boarding several new SWARM clients across various industries
About AiAdvertising
AiAdvertising (formerly CloudCommerce) an innovative technology company harnessing the power of Artificial Intelligence to eliminate waste and drive performance of digital advertising. Our flagship solution, SWARM, analyzes a robust mix of audience data to help businesses find who to talk to, what to say to them, and how to market to them. We do this by applying advanced data science, behavioral science, artificial intelligence, and market research techniques to discover, develop and create custom audiences for highly targeted digital marketing campaigns. For more information about the Company, please visit www.AiAdvertising.com.
Forward-Looking Statements
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.
Press Contact:
AiAdvertising, Inc.
Tel: (800) 673-0927
[email protected]
