Monday, April 23, 2018

Jerrick Media Holdings, Inc. Closes on $1.2 Million Private Placement and Adopts New Accounting Guidelines

Source:  Jerrick Media Holdings Inc.

Jerrick Media Holdings, Inc., (OTCQB: JMDA) (the "Company" or "Jerrick"), a technology company and the creators of Vocal, today announced that it completed an offering of units of its securities (the "Units"), generating gross proceeds of $1,200,000, of which $1,059,400 was in the form of gross cash proceeds and $140,600 was in the form of existing holders of accounts payable, extinguishing such payables in favor of the issuance of Units in the aggregate payable amount. Of the gross cash proceeds, over $500,000 was contributed by management and insiders. Each Unit consists of (i) a 14% convertible promissory note (the "Notes"), convertible into shares of the Company's common stock at a price of $0.20 per share, (ii) a four-year warrant to purchase the Company's common stock equal to one hundred percent (100%) of the shares into which the Notes can be converted. More details related to the Offering can be found on sec.gov on the Company's current report on Form 8-K filed on April 19, 2018.

In addition, pursuant to the issuing of ASC 2017-11, scheduled to be effective during 2018, Jerrick has elected on early adoption. The guidance permits certain down-round features embedded in financial instruments to be accounted for differently. The early adoption is beneficial as it results in the Company's ability to eliminate a significant portion of certain derivative liabilities. The Company believes this early adoption will allow for a more accurate reflection of JMDA's balance sheet and results of operations.

"Adoption of the new accounting standards will significantly improve shareholder value and will also serve as a first step towards execution of our NASDAQ uplisting strategy," said Jerrick CEO Jeremy Frommer.

Due to the decision to early adopt, the Company's filing of its Annual Report on Form 10-K has been delayed. The Company expects filing to be completed in the near future.

About JerrickJerrick is a holding company that develops technology-based solutions designed to solve for challenges that have resulted from disruption and evolution within the broad media and content generation environment. Its flagship product Vocal is a long-form, digital publishing platform focused on supporting content creators with content management tools that are embedded within digital communities. Vocal is architected to enable targeted marketing of branded content and e-commerce opportunities embedded within long-form content. Vocal's community sites are managed by a dedicated team, whose primary focus is on creating healthy communities and identifying monetization opportunities within them.

For news and more information please visit: https://jerrick.media/

Jerrick Media Announces Agreement to Form Abacus in Joint Venture with Thinkmill

Source:  Jerrick Media Holdings, Inc.

Abacus to provide users with powerful subscription-based content creation, publishing tools, and support for content creators and influencers worldwide

Jerrick Media Holdings, Inc., (OTCQB: JMDA) (the "Company" or "Jerrick"), a digital technology company and the creators of Vocal, today announced that it entered into a Memorandum of Understanding (the "MOU") outlining the terms of a proposed joint venture (the "Joint Venture") with Thinkmill, Inc., a digital development company based in Sydney, Australia ("Thinkmill").

Under the terms of the MOU, Jerrick and Thinkmill will establish Abacus, a new Delaware entity that will retain a non-exclusive license of the Vocal technology, users, and content from Jerrick for a five year period. The mission of Abacus will be to develop powerful solutions for content creators by further developing both the Vocal platform and the established communities and content that exist today. This will result in a significantly enhanced value proposition for Vocal users and open up several new revenue opportunities for Jerrick–including subscription-based recurring revenue streams. Jerrick's and Thinkmill's contributions to the creation and development of products and software pursuant to the Joint Venture are subject to entry into a definitive Joint Venture Agreement.

Jerrick and Thinkmill first began collaborating in early 2015 with the design and engineering of Vocal, Jerrick's long-form publishing platform, successfully launched at the end of Q4, 2016. Vocal now supports over 200,000 content creators and influencers.

Capitalizing on the momentum of Vocal, Abacus will build on the current capabilities and expand the offerings for content creators and audiences. Vocal will continue to provide a suite of tools for content creators to produce compelling multimedia stories, engage with targeted audiences, advance their craft through collaboration, and access opportunities to monetize their creative output sustainably. These solutions do not exist today within a single comprehensive offering.

Vocal's revenue model is not reliant on targeted advertising and will focus on sustainable monetization of its platform in the interest of both Abacus and the Vocal community, based on the principles of Time Well Spent, which address the ethics of technology design.

"When the vision for Vocal was first conceived, we understood that moving from vision to reality required the most talented and advanced technology development team, and that these teams must align culturally. Thinkmill has exceeded our expectations across all metrics. Partnering to co-create additional products that can be leveraged to provide broader solutions in the marketplace is a natural next step," said Jerrick CEO Jeremy Frommer.

"The growth momentum that Vocal has demonstrated provides the proof of concept that has led to our decision to enter into a new partnership with the Jerrick Media team to leverage our collective know-how and create a new platform for content creators and online communities," commented Thinkmill co-CEO and co-founder Jed Watson. "We are looking forward to embarking on this new phase of creative partnership with the Jerrick team."

With the formation of Abacus, the Thinkmill and Jerrick entities are uniquely aligned around the goal of providing a wide spectrum of content creators and brand sponsors the solutions, services, and socially enabled communities to efficiently facilitate self-sustaining and evolving thought leadership ecosystems. Abacus is therefore positioned for immediate market share acquisition and competitive advantages.

In addition, Abacus may also leverage the architecture and content management framework of Vocal to develop non-competing platforms ("lateral products") for specific industries such as educational and medical institutions. Jerrick will retain the right to use the existing Vocal platform directly or through its affiliate or related entities. Due to licensing fees and expected subscription-based revenue opportunities, this Joint Venture is designed to be accretive to Jerrick.

About JerrickJerrick is a holding company that develops technology-based solutions designed to solve for challenges that have resulted from disruption and evolution within the broad media and content generation environment. Its flagship product Vocal is a long-form, digital publishing platform focused on supporting content creators with content management tools that are embedded within digital communities. Vocal is architected to enable targeted marketing of branded content and e-commerce opportunities embedded within long-form content. Vocal's community sites are managed by a dedicated team, whose primary focus is on creating healthy communities and identifying monetization opportunities within them.

For news and more information please visit: https://jerrick.media/
 
About ThinkmillThinkmill is an industry-leading technology design and development studio and a driving force behind major open source projects. The team of 20 designers and developers–many of whom have worked together for over 10 years–deliver amazing user experiences backed by powerful technical architecture.

After collaborating together for over a decade, Jed Watson and Boris Bozic founded Thinkmill in Sydney, Australia five years ago with the mission to build a strong and effective team who consistently make solutions that meet both business and user needs, while contributing to Open Source. The values of Open Source are fundamental to the Thinkmill ethos and culture, with a prolific record of leading and contributing to a number of major open source projects, including KeystoneJS, styled-components, and react-select, among others. Last year, Boris and Jed welcomed a third partner, John Molomby, whom they have collaborated with over 15 years and who brings additional engineering and back-end architecture expertise. Thinkmill has developed an outsized and international reputation for engineering excellence, open source principles and product development in which they have launched across the US, South Africa, UK, and Australia. Learn more at http://www.thinkmill.com.au/

Jerrick Media Holdings, Inc. Secures over $1 million in 2-year Notes and Launches Two New Community Sites, TheChain.Media and Trader.Media

Source:  Jerrick Media Holdings, Inc.

Jerrick Media Holdings, Inc., (OTCQB: JMDA) (the "Company" or "Jerrick"), a technology company and the creators of Vocal, today announced that it completed an offering  of two-year, 15% Secured Convertible Promissory Notes (the "New Notes") generating gross proceeds of $750,000 and exchanged existing short-term debt totaling $290,925 (principal plus accrued interest) into the Notes (the "Offering"). The Notes are convertible into shares of the Company's common stock at a price of $0.20 per share and hold a second priority security interest against the Company's assets up to $1,000,000.  Holders of the New Notes received warrants to purchase shares of the Company's common stock equal to the number of shares into which the Notes may be converted at an exercise price of $0.20. Network 1 Financial Securities conducted the Offering.  More details related to the Offering can be found on sec.gov on the Company current report on Form 8-K filed on February 13, 2018. 

Jerrick intends to use the net cash proceeds from the sale of the New Notes for working capital, to strengthen its balance sheet, and for the further development of its Vocal platform.  "Our metrics continue to experience record growth. The technology underlying our platform was built for significant scale. As we did with user accounts, page views and multiple key-performance indicators, we are creating a solid base on which to significantly increase revenues throughout the upcoming year," said CEO and founder Jeremy Frommer.


Vocal Dashboard statistics
Q2 2017 Average
Q3 2017 Average
Q4 2017 Average
January 31, 2018
Communities
14
20
28
30
Page Views per Month
1.4mm
2.1mm
4.1mm
6.1mm
Content Creator Accounts
7,588
26,008
89,208
155,000
Average # of Submissions
/Day
44
183
350
493
Average # of Published Articles /Day
25
91
213
289
In addition, Jerrick's Vocal platform added two new community sites to its portfolio. "Our new community Trader (https://trader.media) is all about the financial markets and will provide professional traders, analysts and Wall Street enthusiasts alike an open environment to vocalize their thoughts and perspective. I look forward to being an avid contributor," said Frommer.

"The past few months have taught us all that it will be some time before blockchain and cryptocurrencies can be institutionally integrated into our daily digital lives. What is important is to provide a forum for blockchain discussion," commented founder Justin Maury, Jerrick's head of product, creative and design. "Our 32nd community, The Chain (https://thechain.media) is all about blockchain and cryptocurrency and will provide a voice for influencers in the space and a well needed opportunity for many of us to become better educated on the topic."

About JerrickJerrick is a technology company focused on the development of digital communities, targeted marketing of branded digital content, and e-commerce opportunities algorithmically derived in relevance for each community.

Core to Jerrick's unique capabilities is Vocal, a long-form, digital publishing platform, capable of hosting all forms of rich media content.

Vocal uses a proprietary algorithm which intelligently bridges long-form rich media content with targeted branding and ecommerce monetization opportunities. Vocal's community sites are managed by a dedicated team, whose primary focus is on revenue conversion of the published material via digital arbitrage.

For news and more information please visit: https://jerrick.media/

Jerrick Enters Into Material Discussions With Thinkmill

Growing technology firm in talks with leading web and mobile development company 

Source:  Jerrick Media Holdings, Inc.

Jerrick Media Holdings, Inc., (OTCQB: JMDA) (the "Company" or "Jerrick"), a digital technology company, announced today that it has entered into material discussions with Thinkmill, a digital development company based in Sydney, Australia, that may or may not result in a joint venture, or another form of partnership involving a significant transaction.

Jerrick and Thinkmill began the design and engineering of Vocal, Jerrick's long-form social publishing platform, in Q3 of 2014, leading to a successful launch of the product in Q4 of 2016. Vocal, https://vocal.media, is a platform for the creation of rich media content and its intuitive discovery and navigation by visitors. The platform hosts 30 niche-communities, with over 135,000 content creators and 5.1 million page views in network per month. Vocal is designed to promote maximum SEO exposure and monetization opportunities for creators.

Jeremy Frommer, CEO of Jerrick, commented, "We've spent over three years working closely with Thinkmill and they are world class developers. Given the exponential success of Vocal, the platform we built together, a broader relationship between the two companies makes perfect sense."

Thinkmill is a digital development company focusing on User Experience, Node.js and React. Its team of experienced, full-stack developers and designers are helping leading companies and funded startups build amazing digital products. Thinkmill also leads major open-source projects contributed to and used by developers around the world, including React Boilerplate, and KeystoneJS.

"A deeper collaboration between the Jerrick business model and Thinkmill's design and development team will lead our respective ventures to continued success," stated Jed Watson, co-CEO and founder at Thinkmill. "We're excited to explore a collaboration with Jerrick, as they have a unique perspective on content, publishing, and commerce. From a technology point of view especially, that is a dynamic and particularly interesting problem space. I see our partnership extending to future applications and opportunities."

About Jerrick
Jerrick is a technology company focused on the development of digital communities, and the targeted marketing of branded digital content, and e-commerce opportunities algorithmically derived in relevance for each community.

Core to Jerrick's unique capabilities is Vocal, a proprietary long-form digital publishing and content distribution platform, capable of hosting all forms of rich media content.

Vocal uses a proprietary algorithm which intelligently bridges media-rich long-form creative content with targeted branding and e-commerce monetization opportunities in each niche-community. Each community is also managed by a dedicated team, whose primary focus is on revenue conversion of the published material via digital arbitrage.

For news and more information please visit: https://jerrick.media

About Thinkmill:
Thinkmill is an industry-leading digital development company in Sydney and the driving force behind major Open Source projects including the KeystoneJS Content Management Platform, and Elemental UI React Component Framework. The team comprises experienced designers and web and mobile developers, who focus on delivering amazing user experiences backed by powerful technical architecture. To complement its commercial project portfolio, Thinkmill invests heavily in R&D, mentoring and community development and, as a result, is growing a team truly passionate about the work they do.

In the last three years, Thinkmill has successfully partnered on projects in a broad range of problem spaces, including FinTech, retail, publishing and more. Learn more at http://www.thinkmill.com.au/

Wednesday, April 18, 2018

Avinger Announces First-in-Patient use of Extended Nosecone Version of Next Generation Pantheris





Source:  Avinger, Inc.


Three patients successfully treated using next generation image-guided atherectomy device with enhanced tissue removal capacity for treatment of peripheral artery disease

Avinger, Inc. (Nasdaq:AVGR), a leading developer of innovative treatments for peripheral artery disease (PAD), today announced that Arne Schwindt, M.D., a vascular surgeon at St. Franziskus Hospital in M√ľnster, Germany, successfully treated the first three patients with the extended nosecone version of the next generation Pantheris Lumivascular atherectomy system (A400EX). This product is a line extension of the existing next generation platform, with a longer nosecone that enhances the plaque removal capacity of the device in addition to the feature improvements of the next generation of devices. This new device qualifies for commercial sale in the European Union (EU) under the existing CE Marking for Pantheris.

The extended nosecone increases the storage capacity of the Pantheris system by approximately 75%, which should translate to increased procedural efficiency, particularly in long, diffuse lesions with significant plaque burden. Dr. Schwindt, who has now performed 21 cases across all platforms of the next generation Pantheris, used the A400EX to treat a variety of challenging lesion types, including in-stent restenosis (ISR). This device is available in limited supply for commercial sale in select EU countries; it is not available commercially in the United States at this time.

Dr. Schwindt noted, “Despite the difficult nature of these particular interventions, I was able to safely and effectively achieve positive outcomes for these patients using the new version of Pantheris with the extended nosecone. I am excited to continue to use this technology in lesions with higher plaque burden, and continue to see the added benefit of the design improvements incorporated into the next generation Pantheris platform.” 

“We appreciate Dr. Schwindt’s continued partnership with us in our objective to improve physician user experience with our technology while continuing to generate positive patient outcomes,” said Jeff Soinski, Avinger’s president and CEO. “Dr. Schwindt’s feedback will continue to be invaluable as we launch our Pantheris next generation platform in additional sites both in the EU and in the US, once we receive FDA 510(k) clearance.”

Atherectomy is a minimally invasive treatment for PAD in which a catheter-based device is used to remove plaque from a blood vessel. Lumivascular technology allows physicians, for the first time ever, to see from inside the artery during an atherectomy procedure by using an imaging modality called optical coherence tomography, or OCT, that is displayed on Avinger’s proprietary Lightbox console. Physicians performing atherectomy with other devices must rely solely on X-ray as well as tactile feedback to guide their interventions while treating complicated arterial disease. With the Lumivascular approach, physicians can more accurately navigate their devices and treat PAD lesions, thanks to the real-time OCT images generated from inside the artery, without exposing healthcare workers and patients to the negative effects of ionizing radiation. 

About Avinger, Inc.Avinger is a commercial-stage medical device company that designs and develops the first-ever image-guided, catheter-based system that diagnoses and treats patients with peripheral artery disease (PAD). Avinger is dedicated to radically changing the way vascular disease is treated through its Lumivascular platform, which currently consists of the Lightbox imaging console, the Ocelot family of chronic total occlusion (CTO) catheters, and the Pantheris® family of atherectomy devices. Avinger is based in Redwood City, California. For more information, please visit www.avinger.com.

 

Avinger Provides Update on U.S. Intellectual Property Portfolio





Source:  Avinger, Inc.


Three New Patents Allowed or Issued for Proprietary CTO Crossing Devices

Avinger, Inc. (Nasdaq:AVGR), a leading developer of innovative treatments for peripheral artery disease (PAD), today announced three recent additions to its U.S. intellectual property portfolio.
The U.S. Patent and Trademark Office ("USPTO") has issued U.S. Patent No. 9,854,979, titled “Chronic Total Occlusion Crossing Devices with Imaging.” In addition, the USPTO has provided an Issue Notification for U.S. Patent Application No. 13/752,325, titled “Catheter System and Method for Boring Through Blocked Vascular Passages,” which is expected to issue as U.S. Patent No. 9,918,734 on March 20, 2018 and has provided a Notice of Allowance for certain claims in U.S. Patent Application No. 14/433,786, titled “Occlusion-Crossing Devices.”

All three of these patents relate to Avinger’s portfolio of technologies used for crossing completely blocked arteries, also referred to as chronic total occlusions or CTOs, in both the peripheral and coronary arteries. The Company’s Ocelot device is the only image-guided CTO-crossing catheter cleared for sale in the U.S. by the FDA. It demonstrated 97% success in crossing CTOs in peripheral arteries and a 98% freedom from major adverse events in the 100-patient CONNECT II study, which supported the device’s FDA clearance in 2012.

“These positive actions by the USPTO help to establish Avinger’s technology leadership in the field of CTO crossing,” commented Jeff Soinski, Avinger’s president and CEO. “Products covered by these patents provide valuable options to interventional physicians and their patients, in many cases allowing PAD patients to be successfully treated with minimally-invasive techniques rather than surgical bypass.”

Avinger’s extensive intellectual property portfolio now includes 119 patents and applications, including 19 issued and allowed U.S. cases, 23 pending U.S. applications, 29 issued and allowed cases outside the U.S., and 48 pending applications outside the U.S. The portfolio has broad applicability in the areas of atherectomy, CTO-crossing and intravascular imaging.

About Avinger, Inc.
Avinger is a commercial-stage medical device company that designs and develops the first-ever image-guided, catheter-based system that diagnoses and treats patients with peripheral artery disease (PAD). Avinger is dedicated to radically changing the way vascular disease is treated through its Lumivascular platform, which currently consists of the Lightbox imaging console, the Ocelot family of chronic total occlusion (CTO) catheters, and the Pantheris® family of atherectomy devices. Avinger is based in Redwood City, CA. For more information, please visit www.avinger.com.

 

OPS Code Established for Peripheral Vascular OCT Imaging in Germany

 Source:  Avinger, Inc.

New Code is a Potential Precursor to Higher Reimbursement Levels in German DRG System

Avinger, Inc. (NASDAQ:AVGR), a leading developer of innovative treatments for peripheral artery disease (PAD), announced that the German Institute for Medical Documentation and Information (DIMDI, Cologne) has established a tracking code, known as an OPS code (Operationen- and Prozedurenschluessel), for peripheral vascular optical coherence tomography (OCT) imaging. This tracking code will apply to both Avinger’s Pantheris image-guided atherectomy catheter and Ocelot family of catheters for the crossing of chronic total occlusions (CTOs), which utilize OCT imaging as part of the Company’s proprietary Lumivascular platform. Although no incremental reimbursement has been assigned at this point, the tracking code is in place to gather data that could provide support for higher incremental reimbursement in the future. The next-generation Pantheris system was granted a CE Mark in December 2017. In Germany, hospital treatments are reimbursed through a diagnosis-related group, or DRG, lump sum payment system. The designation of new technologies to be tracked for use and associated costs in the DRG system occurs once each year when the new surgery and procedure OPS codes are made available to the Institute for the Hospital Remuneration System, InEK, Siegburg.

“We are encouraged by the establishment of this code covering OCT imaging performed with our Pantheris and Ocelot catheters, which we believe will allow us to demonstrate additional patient and physician benefits with the goal of establishing increased German reimbursement levels down the road,” said Jeff Soinski, President and Chief Executive Officer of Avinger. “We are also pleased that in supporting this code, the relevant medical societies have confirmed that OCT is a suitable imaging modality for use in the peripheral arteries.”

Atherectomy is a minimally invasive treatment for PAD in which a catheter-based device is used to remove plaque from a blood vessel. Lumivascular technology allows physicians, for the first time ever, to see from inside the artery during an atherectomy procedure by using OCT, which is displayed on Avinger’s proprietary Lightbox console. Physicians performing atherectomy with other devices must rely solely on X-ray as well as tactile feedback to guide their interventions while treating complicated arterial disease. With the Lumivascular approach, physicians can more accurately navigate their devices and treat PAD lesions through real-time OCT images generated from inside the artery, all without exposing healthcare workers and patients to the negative effects of ionizing radiation. 

About Avinger, Inc.Avinger is a commercial-stage medical device company that designs and develops the first-ever image-guided, catheter-based system that diagnoses and treats patients with peripheral artery disease (PAD). Avinger is dedicated to radically changing the way vascular disease is treated through its Lumivascular platform, which currently consists of the Lightbox imaging console, the Ocelot family of chronic total occlusion (CTO) catheters, and the Pantheris® family of atherectomy devices. Avinger is based in Redwood City, CA. For more information, please visit www.avinger.com.