SRAX - Earnings call transcript Q3 2017

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Operator

Good day, and welcome to the SRAX Third Quarter 2017 Results Conference. Today's conference is being recorded. And at this time, I would like to turn the conference over to Kirsten Chapman of LHA. Please go ahead.

Kirsten Chapman

Thank you, Sofianna. everyone. afternoon, Good welcome XXXX to you SRAX's to I’d call. all quarter conference third like of This webcast is call being website. on the and is available

review we'll slide In an BIGtoken. to today addition, use show accompanying

the will at webcast You operations review view the our today Christopher Company’s financial SRAX’s this management call the Miglino; J.P. Nelson srax.com/investors. may third provide J.P. Nelson an or the COO, Hannan; us With Kris Chris Kristoffer via and slides download the from are overview CEO, will from Chris Miglino will website then highlights; and discuss and metrics; open Miglino BIGtoken; of quarter will questions. for CFO,

used similar and all cause anticipate, materially believe, are project results Before forward-looking risks that forward-looking statements to forward-looking this Investors should, enable, involve and relate management statements those will, from remarks forward-looking potential, estimate, may by I intend, actual and expect, statements. When results I additional containing management, the that and may differ as this subject call which make question-and-answer the uncertainties SRAX management’s would anticipated could, statements are, to time. call cautioned to risks are uncertainties subject such differ they that at forward-looking prepared risks are uncertainties, expressions remind to words statements, materially. turn actual and to like on during These session. the over during you to this may call and SRAX

other filings www.sec.gov. SRAX's can reviewed public with risks the described which addition, are be in In SEC, at fully more

reconciliation in and GAAP to non-GAAP comparable results. one-time performance metrics. to to that GAAP most will note items from stock-based financial full release compensation refer measures of on expenses management make other refer Finally, excludes certain Please press a measures non-GAAP financial SRAX call the for which SRAX's its financial please today’s

Chris? Chris my over Now, to call CEO, it pleasure is SRAX’s to Miglino. the turn

Chris Miglino

be to I'm Good Thank you, everyone. speaking today. with Kirsten. excited afternoon, you

as digital the performance XX and and leading created tools shareholder management long-term a audiences. have and data SRAX, we've improved Altogether we reach our months, past the over value. transformed opportunities significantly drive marketing growth to to our valuable reveal delivering Now position and enhanced additional platform

XXXX, operations NASDAQ, our improved our on we by October completed significantly uplisted throughout revenue. capital, transactions sheet. strengthened we the on focusing then First Further, to in several improved we access higher that balance margin year,

margin As we gross dramatically. a we result, term did revenue, improved

doubled reporting In up fact the than third prior from year. more we XX% our margins in the quarter XX%

into reduced our finalized expenses. the EBITDA addition, also adjusted and This adjusted QX a loss the of And we quarter. ago buy year operating unit. $XXX,XXX We contributed consolidation same to improved lower $XX,XXX loss. from loss in side one to EBITDA operating operating

successes. our discuss Now, recent of let's some

complementary a OpenDSP, our our time believe unique acquired targeting platform. technology platform we bidding First, will We enhance this integrating truly to capabilities. real side demand existing and DSP

Now SRAXmd be success. great continues a to

XXX% fact, year-over-year since grew introduced XXXX. a revenues in it In we we annual

for prescription through specific A their companies to specific results for success messages our mobile very delivered brands model SRAXmd as and Our tremendous target desired audiences digital triangulated SRAXmd it about agencies. advertising. and

As ways. several this to previously intend business discussed, we leverage in

for additional series We launch specific plan the categories of digital verticals. for replicating we're to tools marketers. First, model a side buy

begun verticals. with and sports have We automotive

Enable at during sports to brands we're them advertising sporting with game and attention the targeted FanTRAX behavior home, targeted is or changer reach interest sports when where location events identify delivers viewers they other formally fans are sporting agencies and high. right data sports at of patients. to sports at fanatics at week, are business, and around allows to course facilities we through locations a just emotions fact SRAXmd reaches impact unveiled for connecting SportsViewTRAX as rate live the trigger gather. alternatives restaurants to to mobile the to fan non-personal the this time venues. right response than which combined stadiums decide positively SRAXfan for devices In on deliver highly and ads the to and in for time StadiumTRAX an healthcare stadium, patient evaluating ability event The Furthermore, shareholder methodologies. has capture providers that to such gathering targeting universities. they the and treatment future outcomes of rapid bars, traditional before or to to the strategic provider patent platform more a promotion, a evolve SRAXmd targeting maximize is a real we mobile for continues pending value. professional

expect As including corporate in transactions. possible Cryptocurrency all of held to into a October, facility October, products technologies. and an surge Day help Mexicali, public we to variety capture, available ensure we company announced we will can market. demand participants we company, be a our to alternatives spinning strategic what SRAXmd Analyst or of continued explore In the and advisors our Investor senior options of Also for explore need its Mexico, a the we toured own us engage business range that our overview company, review an a and to off of in presented in other management acquisitions the

our these successfully believe our offering. presentations on the of events We that team of the and management scope demonstrated of are All depth website. our

compensation and have discussion. purpose to Kris. accompany data. BIGtoken website We this presentation that COO, our data a their our review believe revolutionize invited the our consumers technologies detail. offering on BIGtoken, platform BIGtoken to develop cutting choice, Identification platform. Please we Today's September, Blockchain I've for greater industry. transform posted transparency marketing We sales Kristoffer our by Nelson could In to continue is unveiled edge Graph to we in

Kristoffer Nelson

Nelson, BIGtoken. here COO Kris with the SRAX. I'm I'm SRAX Chris. you, you be to Thank share excited all today at to

consumer and over Acquiring BIG consumers thus with creating webcast created The data is connect in the directly data. at with you which people information. years. And been SRAX of utilizing data despite can exchange is a mentioned campaigns free the along enable access srax.com/investors. was is challenging of as inefficient. and now, pay just to and platform for connections and such location time. download for there has As and the them their consumer barriers or opening SRAX and follow between its to call presentation, facilitate working web seven

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J.P. Hannan

Thanks, Chris.

offset clients, The ongoing gross revenue and growth the For revenue revenue, compared well from million $X.X the year’s This an customer. a to reduce compared in included in revenues quarter, as third as margin to partially in XXXX, decrease SRAX SRAXmd. were margin low quarter XXXX, of buy-side sell-side effort higher reflects third quarter large non-recurring increase of prior as the reach our third continued which to million. from gross by $X.X

$X.X Now gross this in million, despite the decrease to gross XXXX. in of revenue, quarter million profit $X.X compared to third grew the

reduction the quarter. XX.X% revenues. of was gross year’s XX.X% Our reflects to low prior that margin compares This margin benefit the third in the of

of $X.X benefit quarter compares XXXX expenses in reflecting year. the This of Third the cuts million. $X.X of were quarter XXXX, million earlier made third this cost operating

to margin the million sales revenue of to in recorded gross million accretion quarter was quarter to compared non-cash $XXX,XXX $X.X loss related the the of Company in compared million $X.X $XXX,XXX reduced XXXX. of focus compared to million million, expense third operating XXXX. $X.X in on expense the third operating improved more an Our to which reflecting operation. in expenses of quarter also and warrants. loss to efficient other Total the XXXX. $X.X of $X.X a Interest higher Again strategic third

We driven largely was net the was in Adjusted accretion to million loss mentioned. by $XXX,XXX due investors the we secured ended April net definitive third agreement October with loss was convertible hand non-cash million compared quarter $X.X million warrant compared the with on quarter sale just loss the debentures $X.X XXXX. of $X.X a in $XXX,XXX in XX.X% cash and third a EBITDA securities Our approximately quarter $XX,XXX XXXX. of of of existing purchase I entered as of the of to into XXXX. loss to in in This

A Net to XXX,XXX the were April common and capital. protection. financing $X the proceeds Series term, per transaction. with and Debentures secured is are stock, initially this company's XXXX Class the in passu also exercisable warrants five-year We at to convertible of our issued prior debentures these debentures from part are will investors' working this they're to A subject be financing and applied purchase share warrants pari also The issued anti-dilution offering.

shares we additional this we and or this and retired shares XXXX, warrants recent October outcome warrants X.X have million XX, been overall X.X by negates effect. While we warrants in and million now million The have separately common X.X some cumulative here the as of expired currently had outstanding. transaction issued dilutive outstanding

Now onto XXXX guidance. our of review

year, impacted. focus, As we maybe grow this to stated optimize gross in EBITDA. managing business earlier is gross SRAX adjusted With the revenue and its margin

committed key metrics these performance our line profitability. and drive we're ultimately However, that bottom to

as year gross in full compared exceed expect margin As XXXX. to such, we to XX% XX%

is generate And the back that to for an of this EBITDA of million the breakeven We call adjusted from the in to and I'd to loss full update, up like for positive half $X.X will And XXXX. Chris. EBITDA turn XXXX, year be or with adjusted SRAX better expect second XXXX.

Chris Miglino

J.P. Thanks,

about management bought the year, and Over change BIGtoken prospect is platform. foundation past excited expand initiatives We're transformation been growth standard our significant you stand to really implemented way posted. data opportunity has keep some sold. and our we’ve for data the the XXXX. strategic and leverage and that That in said, market The we'll

note, the turn operator open participating panel. I Angeles for can like the I'd Micro Los to call I’d Before questions, December, us I the in event to which now see in in Blockchain will the Main in be LD at for you Q&A. a like over call to

Operator

Aspenwood [Operator we take our Instructions] from first Capital will Ossello And from Steve question

Steve Ossello

Hey, Chris.

Chris Miglino

Steve. are Hey, How you?

Steve Ossello

I’m doing well.

do how in offering? took concise shareholders participate do Just just sort from secondly, of How existing in two-part token question. BIGtoken a then the answer? And investors a current benefit

Chris Miglino

So, the shareholders obviously within to to been the token offering. without existing of get wouldn’t SRAX support here we able do

lawyers So our is token of to now what the to doing structure off a shareholders. working the we’re dividend digital of we’re with all

in cryptocurrency that SRAX, share into you BIGtoken. share every will of for own So a we issuing be

participate as cryptocurrency shareholder a you’ll as of of have to So the able a owner. benefit being SRAX,

helping can shareholders they can a owned get that how a in with sell wallet the that process ultimately that that cryptocurrency of those be create we’ll into could have set and But are cryptocurrency. up cryptocurrency to cryptocurrency and understand we of understand so in we how assistance a investors not put they market. their a they to that familiar lot never providing the owning Now have there’s the

Steve Ossello

Nice.

Chris Miglino

for first question. your That’s

challenges the is risk unknown the what that your is second part they the utility token. a and question, that On SEC of known what face sales token lot these the of will of one face to do as the a about

everything of those go is and creating we that before with the and Once our to we’re to by investor will public. in So that participate done SEC is that everything registering the every of compliance. in out what so – the we’re in the be the able tokens presale will digital doing all happen book marketplace tokens

So your hopefully on that of those. answers questions both

Steve Ossello

if It just timing. you could about comment does; and

Chris Miglino

But the funds white how can system this at because be together of will Right see in what will everything now. when to weeks next go And SEC mercy where to file that few route distributed, you of work for from SEC. how used you we’re little for the all now, paper be and have certain the the we and approvals midst wait a anticipate, you’re the obviously, you the should be be will in out the so here the tokens they’ll the exactly getting allocated.

Steve Ossello

Chris. Thanks, Great.

Chris Miglino

you. Thank

Operator

Capital. question next Jim McIlree And we will from from take our Chardan

Jim McIlree

year. that understand afternoon, have good you I’m and trying J.P., Thanks, everyone. to this guidance the for

You’re saying that breakeven, full is right? year EBITDA

J.P. Hannan

$X as we’ve been updating mean, guidance, viewing adjusted our out I of year profitable there, year. previously between as it had progress guidance we the for EBITDA million $X slightly the million currently and

So going million I don’t we’re the think to range. million $X $X to make

Jim McIlree

that be I or in that don’t turn so But EBITDA would top in you’ll $X.X know, million million yes. – $XX like to QX, Yes, out adjusted do so like that’s maybe a that line? quarter implies

J.P. Hannan

very strong very I mean, QX cyclically a most advertisers. a always for is it’s quarter strong us, quarter for

$XXX,XXX some the more we’re success in going we’re to we year the a we MD of you about and breakeven. did strength If other year, back which and – on what things gets EBITDA be in did last that going than to to think we I were look profitable us ago on

We’re by slightly year-end. better

Jim McIlree

it. Right. obligations are that months have for what months? Great, got financial And the or you XX next the X

J.P. Hannan

settled closing longer up is a capital of $X.X $X.X financing, cleaned payables We’ve in million at financings point compressed that out receivables. and sits that a was had that there, debenture gap now much as and our quite one more even old The between and up few down so it we’re the put on we that we’ve payables which we’ve which done. there. working Well, was million through quite cleaned recent bit no our out

spread. really cut that we So

have So we have lot we other normal us. a ahead operating costs; interests; obligations of other we don’t don’t don’t than a of

Jim McIlree

and So race, all sheet post pro what’s cash million cleanup of the balance? forma October $X.X balance the the

J.P. Hannan

we now books. the Right $X about have million on

Jim McIlree

month two been I’m that we bitcoin either it decline you’re affected still has the right. depending assuming Or All the ICO, of on about it? ago? And what the had the a recent is timing or by timing talked or on then, thinking in

Chris Miglino

where happen this world, bitcoin is within it track. this went so. something is to was second, not us think bitcoin bit we certainly it since not No, very has impact. to talk talking this don’t the but it’s still talked were was settled but we impact $X,XXX was time anticipated had on of something, to down $X,XXX above There a when the we is I an – an that impacting I it now of at we know point. work $X,XXX believe that and spoke, last I the at mean, little or because

So on our had plans that been has X-K working track and we we the with when filed out with put into track keep on to market we’re very still presentation. hard the the

Jim McIlree

I know, you're that advice the still is Chris, with that and in? this they’re working What that the time, on it. advice Got window is opportune way. that I’m consultant open some assuming an giving it’s is and their

Chris Miglino

you of getting people there's be be of with want the what's and that And point doing raise million be Yes. going raising not to a They're in SEC of advice that of person, we out we're and $X,XXX we substantial. to that lot and think the of to compliance money are pick companies as and selected everything the and to the reporting doing there person token – is the one person focused substantial on opinion market. somebody we called that very talking we're day to using with. lot the a to group million of – that we repercussions is so very cautious space. being about utility $X,XXX want We're that lot amount out do a going have able to into advantage in everything a advisors tokens that we're security the have the see prove fully they're these significant a SEC of that purchase that out for. the give be of that a we're money where in to everything token. a doing a stay people The very that's that people everything that, the And It's will

future. way think these way the and the that ultimately will right doing be people in way it do is doing this we ultimately So the it to that things

Jim McIlree

– that be of you you when letting to that way? obligated do spent. bylaws organization into about money is is And going written purpose? can extracts the the Or contractually or the Is such certain and transparency being talk bylaws money all showing its and that into the where structure allocated it only a for or

Chris Miglino

was used will a unit the is the doing at we money now, this We what are where this business. should raising reside doing so ultimately how or come ICOs in a was business zero well, report used? different for, future good the report transparency piece of that right. million ICO SEC, we're are how the for registering inside the we than that Which think So be and – the as very bulk will to revenue no you is can and a $X,XXX being as raised, as is tokens it happening overstock much money's just what a investors have how future. with these of cash that idea it's the with things I community is were can that of where on in companies see think since company, and token, it stuff Overstock all, will the of the business the separate And but security the everybody into generating. costs much much is unit see

Jim McIlree

now just right. last All expenses, then ticks you that QX? QX The level versus And operating is normal of J.P. increase for it. one QX flat or something seasonal a relatively up is in that Got one with that in

J.P. Hannan

so variable fairly, – do of be sale but commissions, there’d this outside component point. that revenue as mean increases run I at rate some

Jim McIlree

Okay.

there increase. Is at not being a amount commission-based the or significant it’s this for dollars point? ICO allocated of So

J.P. Hannan

been legal here. yet a been lot internally there's of everything but money developed, mean fee, has spent been I there No, haven’t

Jim McIlree

Got it. it. Got

a I the thanks Okay, luck it. Good lot appreciate with guys. revenue.

Chris Miglino

you. Thank

Operator

And question next we go will Please our ahead. Anthony take from [ph]. Marchese

Unidentified Analyst

bit focus in to that Yes. you’ve strategy a got I’d Hi, guys. you the mentioned. little that a the strategic you guess, involved to transaction, on I SRAXmd mentioned like transaction correct?

Chris Miglino

advisors to hired different We've that three. explore business. options were They strategic for Yes.

Unidentified Analyst

am to lawsuit Illinois in of against to well, holding for of SRAXmd of filed a you name was like believe was Okay. copy that [indiscernible] fairly an last December, they I up state the it a you company matter filed it’s looks the company – the guys million. company, In the August. it it had exhibits, like in of like a buy that a doesn't the but a offer looks – name one large look I $XX

the that done mentioned You has year-after-year. better unit

value should of would we your market about be because be substantially that thinking kind a today? in number So cap that of of excess terms in

Chris Miglino

So, has an transaction of offer date. that we business That that you’re year. and was that enhanced right, since do did substantially a is grown there last not

presented So were what offer that company that now. the that where are a of they numbers half made to

think will that's So options we reason process the move as here where point, come will good with that I we we're very that one down mean are and I a – see But there. in. SRAXmd, that's what we numbers exploring the the –

Unidentified Analyst

And Okay, to relating just I question that. that. appreciate second

wants If you you buy look somebody offer an alternatives? now? Did a of why heck, unsolicited should it receive you maybe then to receive decided, offer; or if business an we unsolicited range the at for

Chris Miglino

enquiry inquiry We with business. it and potential an did than quite unsolicited an offer for offer I’d of we the because yet, process the went bankers. receive more into call another

Unidentified Analyst

get I it.

Chris Miglino

with to itself. the business the that to for process see that holds evaluate what the individual not but market bankers just So opportunity we're in unit

Unidentified Analyst

shareholder a as listen fantastic. Well, that’s

strategic company today. of part the cap well market the selling excess for in of for potentially transaction some doing You're

So congratulations, thanks.

Chris Miglino

Thank you very much.

Operator

Matthew Wells next Instructions] [Operator Larson And from our from we take question will Fargo.

Matthew Larson

accretion million release couple the there was other that the one of earnings of in called $X.X particularly of expense $X.X the versus some was the $X.X – to thanks for a that kind to taking expense million was number warrants. Key What the was item that, guys, there looking number? things, just at big XXXX on addition Hi is million last call. year,

Chris Miglino

don’t why J.P, take that. you Let

J.P. Hannan

Sure.

$X.X You’re correct. referring to million this, other is expense that

Matthew Larson

Yes.

J.P. Hannan

The line is item above that.

Matthew Larson

expense Is X.X for to warrants? the the that part of

J.P. Hannan

component yes, expense accretion, Interest it. one component that. was was another of warrant On of

Matthew Larson

Got it.

So that your aggregate was the of expenses.

Okay. Then back other which intrigues the caller you're to you launching the of me is outlined jewel oriented same if a that the one. SRAXmd Is particular kind the crown that and and in even way it. vertical, previous that auto the the ones it have sports is

– that consider it set being off industries. skill not Your one you other could duplicated be in a could and

reasons a just So of advantage other might taking some a be versus liquidity time or advantage potentially Is sort because, set monetization that of we at of premium or of other asset your these the one greater? this that and that of could would of verticals SRAX? a maybe the expect that skill invest we verticals to opportunity abilities an build and wanting some of level you're taking in to why out

Chris Miglino

the become that same building The is at significantly verticals created markets these that to we up we very good for business the built consumer markets. have other very experts leveraging as marketing online that think is transactions. these it offline adding to we've different and experience, technologies – shopper Yes. these our relates And We've expertise verticalized something CPG around at. we're we've

Matthew Larson

All Okay. right.

medical indeed your alternative it commands that are currently some in because would sell if the you feel you able premium a MD, the it that build to of division, take but you revenues, verticals. out could So away

financial plan? that. that you as be Just also that one in of out nice do a kind game to you build Is a and position would

Chris Miglino

numbers verticals. each Yes. our We don't break by out

and hard business grow use continues fraction to and side the and particular, other but business, last was has only subsequently but year. that verticals from in it's the MD working sales that grown for the on amazing doing MD to CPG size the job our team discuss business and coming the business, happening. That were most will be an we've year some revenue that's and entire that of substantially of not of we're the can was that tell that is each And you these a of can technology So amazing everything built that, that on doing. we doing MD to applied for I

Matthew Larson

that a and good its be mind How be that or I'm I – of or its you. done to peaking person enquirer deliver marketer, last question to then Got apologize, GPS frame of – would I question nature perhaps just have idea, a they a curious track somebody coming of a is but kind might lay of And – from the guess he the kind might naïve I in be so of looking when to points through at are a consumer I they going development the represent purchase. the to event something consumers you're to certain guess interests able game, a at I SRAXfan make you marketers. through, a that how great maybe of sporting marketers at bullet their potential just are to would targeting be you them mean who's the a as I’m or here. Where

Chris Miglino

not a It’s branding of likelihood it relevant. it's is the of to are perspective a very league somebody MLB make But the insurance they major high. car a necessarily marketing they're to game a state because on but more Yes. actually all baseball is sitting likelihood to the purchase, while sponsor, stadium, a executing not of when on

way different audience MD technologies. location basis. target a do Same with that we bunch of The is a on to have we So less niche.

data and and the world, but and in way we So the same can cardiologists than take there there's to the market lot audience sell a fans them buyers. right break the to down sports segments oncologists more those the prepackaged

Matthew Larson

most story it I by yourself earning Okay. is accurate the a initially by investors who question BIGtoken’s as SRAX as and represent And the involved. it's identifying of frankly help identifying are and in number some and the terms. as And far oneself maybe me then tokens – a last detailed interest concerned in to the market are

speak can like it memo some or So it that something used a is how vendors. fills reach that to detailed, to be work marketers that other be data What would questionnaire out. Or or so would sold or somebody out?

Chris Miglino

Yes. be infrastructure developers that One a that, thing that we're other many build building need made has on to for core infrastructure is to top of. the clear

So be platform. draw builders different only and not of many are but app collecting that we're data build able an might creating apps technology we will that other there, to website that a that – the is into things platform tap consumer

to only be joining partners we many other access helping are the platform. process. the We’ll us that big So many, won't and that in developers data

important distinction, into platform. can put the that people because ways to up opens you an that's data the BIG get inside it many So different data

Matthew Larson

so That’s All webcast, my me for where and work, e-mail, name, gave me. mean, this my saying you can I have my phone reach I you some number. to I right, on data guys

case are in maybe take Now detail. same in who going the more to but a offering way, the people of tokens the to of strategy and survey

and better okay. accurate So – just then would use of kind going that to data more and forward detailed that have quality is strategy, you the

Chris Miglino

accuracy that of data. of as we one the the challenges as Well, marketers face

next We that about the somebody in an viewability big talks these digital to So validation specifically that is past, accuracy data wants that sure thing be made of data inaccurate also that digital ever to fraud. that to conversations is Experian we’re sellers. advertising have on round their data. validating been data. predictive from it that will up being traffic the the think validation to We a the relates of consumer big the is there and is make being compensated or not the as model age is internet of and nobody own the of We want that the One that sure not bought buying advertising in data sell else us. world something bar is make for from of that is just directly want getting

their will Consumers when information. envision same put consumers all cards QuickBooks do connect the all a preferences. to banking we in So you entertainment of will their in will way credit and connect day their

and you’re cards how see transacting. where marketers can So your using that you’re

are So will these that top built apps the different and on of platform. the be

Kristoffer Nelson

a point want people backlash there be of name of out some over floating attached at if you it abstract not has against mean, might don’t that there to this more there think people’s where used focus out against that that it's what's on just its retrenchment lease some and have news control many sort in is and sorts wishes with whatever, without I a knowing not Russians all in out fake globally or to where their a saying Equifax inappropriately data is putting yet Facebook them different whole it, just really broader suffer it. the mean, that I had, advertising is I see or of being with was are data case more of me nobody guess information compensated I just Equifax proliferation perfect a I point all on think of want mean, if sort timely, for I issue to but going necessarily the that it. some do sites sense I around

if think agree So sign for getting you're advance willing to people the reward head effort, that get I you them up of to pack just and here. in

that anyway Chris. throw can’t I So that's, just thanks and for

Matthew Larson

I appreciate you. that. Thank

Operator

[indiscernible]. next [Operator we’ll our Instructions] question from take And

Unidentified Analyst

one had what’s I input I sound just way lot works token particular. that? the awful Experian Hi, like question an The your wonder and on

Chris Miglino

and our an to buy towards from the to for be that infrastructure driving more – – going Experian consumers. on sit things buyers geared Well, to of consumer more data is want be other token is system it Blockchain itself, of top to more to will individual it's sales so

just Experian earn So approach a is consumers, specific for will to looking and be Experian it's up data how token, will the is about be the ownership has data will companies, will market they much tokens functionality doing for their that and big signing consumers. the different for media market Matt Naturally, a much able that. token of drive about, created created validate platform be market token will to was itself. to just are big ultimately what the there their a for biggest you'll of market a token like to for similar but and different, be marketing very by that the buyers the big on the talking drive companies, itself Consumers companies also the a

Unidentified Analyst

idea this sound fundamentally exact of the really kind it like what right? Because because yes, I good opposite, it – Okay. is was good, got I it kind of have now a I of am

Chris Miglino

would drive a in they it gotten to token mean, the place itself has for crypto at where I the a successful are, currency is Well, be it and to can we we a so be trades the as would for same as very so the sense if BIGtokens we be substantial right, lucky would – and great be Experian market. prices as number

– unique consumer we what bit So as we We've and on and purpose have different that is. for a unique for of the a thing, this data ability a marketing, many are side they're themselves of of market. in think these what it's And a very we of tokens little time. in doing business purpose create are we their the long they're token advertising, very just but to been and have think very a the

of a and the have is players think we So would something very the selling that lot once process. need had other to have all in transactions and that data It's from know the data consumers that space. spend we buyers. for unique the not the have by we out. know natural people a a that something We space. execute figure those know if we We we platform to I even data that – figuring think they that that's We And a the in advantage out. people time go consumer

Unidentified Analyst

Okay.

up, the to it’s clear basically So to data everything just driven consumer coin? generate

Chris Miglino

ways few that generated, one That's There's coins right. different can be a way.

data, coins a So in you get give a a as consumer marketer you acquire coin, would buy as your data. you to order

or that for be fluctuate So and based to they're market to in DSP cash what segments DMP, data buy different side a do constant converted through They'll there's looking partner you will BIGtoken automatically data. demand management platform again. and into will access they're called buying and that buying data and would that data where that and the is the on buy price the

data against types the will audience cars million specific to be certain types marketer where bringing those or purchase to created own assets that in lives driving to neighborhoods what over of that a market. need pay or looking And of $X you're are, certain has of to if what depending that on we've force access data. will we're the infrastructure that's and So

Unidentified Analyst

things definitely you That clear you for Thank time. Okay. up.

Chris Miglino

Appreciate you it. Thank question. the for

Operator

like out session. for turn are remarks. closing time call back now question-and-answer we to any And would to I our for the or of additional Chris

Chris Miglino

any a Thank but you today. the very really much – these all, soon events. free or and call If you questions feel if appreciate you at call see hope know, it. investor have we joining us give appreciate any We the marketing other all there at please joining or us to to you today, we of let really events our any call is of at

with learn about webinar if morning We data have and in to to that our access a a Forrester us all has out Social our can use it of on that’s chime bit the big interest webinar tomorrow more tomorrow in you anybody we morning an consumers. how joining and little to and

much. very you thank So

Operator

participation. concludes this for Thank today’s you And conference. your

You may disconnect. now

SRAX (SRAX) 14 Nov 172017 Q3 Earnings call transcript