HARRISON, N.Y., May 12, 2016 /PRNewswire/ -- MGT Capital
Investments, Inc. (NYSE MKT: MGT) announced today that it has
acquired a Membership Interest in The Round House LLC, an
Alabama-based technology
incubator, offering co-working space, accelerator services and
angel investment. Located a few miles from Auburn University, Round House was founded by
Kyle Sandler, a successful serial
entrepreneur with eight years of experience at Google and three
major successful technology exits. With an experienced executive
team, Round House has attracted top entrepreneurs from Google,
E-Nable, Rockstar Games, American Express, and many more
companies. Round House offers start-ups a creative and
collaborative environment along with two-way Gigabit internet
access, 3-D printers and a full-time "community engineer."
Among the companies in which Round House has equity ownership is
RecMed First Aid, founded by a local teenager, Taylor Rosenthal. This past Monday, Taylor
became the youngest person to exhibit at TechCrunch Disrupt in
New York. He has been featured on
numerous national media outlets in the past several days, and
Taylor has stated that RecMed is being courted by some large retail
and healthcare companies.
Several companies within the Round House portfolio are
cybersecurity related, offering MGT an early look into potentially
disruptive technologies in file sharing, chat and other
applications.
About MGT Capital Investments, Inc.
MGT and its subsidiaries are principally engaged in the business
of acquiring, developing and monetizing intellectual property
assets. MGT's portfolio currently includes social casino and gaming
platforms, and ownership stakes in DraftDay.com, a top daily
fantasy sports wagering platform and DraftDay Fantasy Sports, Inc.
operator of an online entertainment marketing and rewards
platform.
MGT also recently announced the acquisition of certain
technology and assets from D-Vasive Inc., a provider of leading
edge anti-spy software. In conjunction with the acquisition,
The Company also announced the proposed appointment of John McAfee as Executive Chairman and Chief
Executive Officer. Further, MGT Capital also intends to
change its corporate name to John McAfee Global Technologies, Inc.
Closing of the acquisition is contingent on customary conditions
including approval by MGT's stockholders.
Forward–looking Statements
This press release contains forward–looking statements. The
words or phrases "would be," "will allow," "intends to," "will
likely result," "are expected to," "will continue," "is
anticipated," "estimate," "project," or similar expressions are
intended to identify "forward–looking statements." MGT's financial
and operational results reflected above should not be construed by
any means as representative of the current or future value of its
common stock. All information set forth in this news release,
except historical and factual information, represents
forward–looking statements. This includes all statements about the
Company's plans, beliefs, estimates and expectations. These
statements are based on current estimates and projections, which
involve certain risks and uncertainties that could cause actual
results to differ materially from those in the forward–looking
statements. These risks and uncertainties include issues related
to: rapidly changing technology and evolving standards in the
industries in which the Company and its subsidiaries operate; the
ability to obtain sufficient funding to continue operations,
maintain adequate cash flow, profitably exploit new business,
license and sign new agreements; the unpredictable nature of
consumer preferences; and other factors set forth in the Company's
most recently filed annual report and registration statement.
Readers are cautioned not to place undue reliance on these
forward–looking statements, which reflect management's analysis
only as of the date hereof. The Company undertakes no obligation to
publicly revise these forward–looking statements to reflect events
or circumstances that arise after the date hereof. Readers should
carefully review the risks and uncertainties described in other
documents that the Company files from time to time with the U.S.
Securities and Exchange Commission.
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SOURCE MGT Capital Investments, Inc.