NEW BRUNSWICK, N.J.,
March 19, 2018 /PRNewswire/
-- DatChat Incorporated ("DatChat"), an encrypted personal
privacy platform, focused on encrypted communication, internet
privacy and digital rights management, today updated shareholders
on its merger agreement with Spherix Incorporated (NASDAQ: SPEX),
its continued blockchain development and mining efforts.
DatChat is pleased to announce that it has agreed to be acquired
by Spherix Inc. The transaction is subject to customary
closing conditions, including approval of the shareholders of
DatChat. The proposed merger would allow DatChat to further
develop its encrypted communications platform using proprietary
micro-blockchain. Once fully developed, the DatChat
blockchain technology will allow each message or file to become its
own micro-blockchain that will be permissioned, private and
controlled. The DatChat blockchain ecosystem for
messaging, file storage and file sharing will be the next evolution
our personal privacy platform that will allow for permanent and
ephemeral chains, content delivery, mining and true privacy that
comes from a decentralized encrypted peer to peer network. This
technology is in the development stage.
In addition to the proposed merger with Spherix, DatChat is
expanding its "crypto" mining of "Ether." Ether is a
cryptocurrency that fuels the Ethereum blockchain network, upon
which DatChat's distributed network is being built. DatChat
recently launched Ether mining, and the merger with Spherix will
allow DatChat to increase those efforts.
Mr. Darin Myman, CEO of DatChat
stated, "We are excited about our proposed merger with
Spherix. The merger will allow us to expand our privacy
platform to include email, file storage, file sharing and financial
transactions; while expediting development of our proprietary
micro-blockchain technology. We believe that upon
implementation, DatChat's micro-blockchain technology will allow
users to remain in control of their privacy after they have already
shared their information on our secure decentralized peer-peer
environment. "
"Internet privacy and cybersecurity lies at the heart of what we
do. We realized that consumers had various levels of privacy
needs, so to meet those needs, DatChat was developed as a complete
messaging platform with ephemeral and privacy features that are
always available when you need them," stated Myman.
About DatChat
DatChat was founded three years ago by a team dedicated to
creating a personal privacy platform that always provides privacy,
control and security. The DatChat Digital Rights Management
Technology ("DRM") is the core of the platform. Our initial
product is the DatChat Messenger. We are also now focused on
developing blockchain and "DRM" to solve cybersecurity issues,
including issues relating to messaging, email, files storage and
financial transactions. http://www.DatChat.com"
http://www.DatChat.com.
Cautionary Statement Regarding Forward-Looking
Statements
This press release includes statements related to the proposed
merger between DatChat and Spherix that contain forward-looking
statements, including statements regarding expected benefits of the
merger. Actual results could differ materially from those projected
or forecast in the forward-looking statements. Factors that could
cause actual results to differ materially include the
following: DatChat shareholders may not approve the
transaction; the conditions to the completion of the transaction
may not be satisfied; closing of the transaction may not occur or
may be delayed, either as a result of litigation related to the
transaction or otherwise; the parties may be unable to achieve the
anticipated benefits of the transaction; DatChat may assume
unexpected risks and liabilities; and completing the merger may
distract Datchat's management from other important matters.
DatChat assumes no obligation to update the information in this
release, except as otherwise required by law. Readers are cautioned
not to place undue reliance on these forward-looking statements
that speak only as of the date hereof.
Contact Info
Jeff Albeck
(732) 374-3529
jeff@datchat.com
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SOURCE DatChat