Los Angeles, CA, Nov. 15, 2024 (GLOBE NEWSWIRE) -- Thumzup Media Corporation ("Thumzup" or the "Company") (Nasdaq: TZUP), a leading provider of innovative social media branding and marketing solutions that allow businesses and brands to pay customers and fans cash through Venmo and PayPal for their posts on social media, announced today that the Company’s Board of Directors approved the purchase of up to $1 million in Bitcoin. “As demand for Bitcoin increases and it gains recognition as a leading asset clas ...

Financial Performance - The Company generated revenues of $150 for the three months ended September 30, 2024, representing an increase of 108.33% compared to $72 for the same period in 2023[112]. - For the nine months ended September 30, 2024, revenues were $585, a decrease of 75.85% from $2,422 in the same period of 2023[120]. - The net loss available to common shareholders was $464,837 for the three months ended September 30, 2024, a decrease of 58.26% from $1,113,781 in the same period of 2023[112]. - The net loss available to common shareholders for the nine months ended September 30, 2024, was $1,346,269, a decrease of 54.36% from $2,949,450 in the same period of 2023[120]. - Operating expenses decreased by 38.37% to $442,847 for the three months ended September 30, 2024, down from $718,517 in the same period of 2023[112]. - Operating expenses for the nine months ended September 30, 2024, were $1,300,292, down 39.51% from $2,149,445 in the same period of 2023[120]. - The Company had cash balances of $110,246 as of September 30, 2024, down from $259,212 as of December 31, 2023[127]. - The Company used net cash in operations of $1,053,175 for the nine months ended September 30, 2024, compared to $1,911,767 for the same period in 2023[128]. - The Company raised approximately $7,125,000 from a public offering of common stock that closed on October 30, 2024[139]. Management Compensation - Mr. Steele's base salary will increase from $168,000 to $250,000 upon achieving $100,000 in net monthly ad revenue for twelve consecutive months[142]. - Mr. Steele's base salary will further increase to $350,000 upon reaching $250,000 in net monthly ad revenue for twelve consecutive months[142]. - The company will pay Mr. Steele a past performance bonus of $50,000 within 5 days of up-listing to a national stock exchange[142]. - Mr. Dietrich's base salary will also increase from $168,000 to $250,000 upon achieving $100,000 in net monthly ad revenue for twelve consecutive months[143]. - Mr. Dietrich's base salary will increase to $350,000 upon reaching $800,000 in net monthly ad revenue for twelve consecutive months[143]. - The company will pay Mr. Dietrich a past performance bonus of $25,000 within 5 days of up-listing to a national stock exchange[143]. Business Operations - Thumzup has paid out on 25,996 approved posts to 1,472 users regarding 559 advertisers since inception[106]. - Advertisers on the Thumzup platform have grown by a 209% CAGR since November 8, 2023[107]. - The Thumzup platform enables advertisers to pay creators between $1.00 to $1,000.00 per screened post[102]. - The Thumzup App connects brands with individuals willing to promote products, leveraging the gig economy[91]. - The Thumzup App is designed to generate scalable authentic social media content for advertisers[105]. Market Insights - In 2023, $148 billion was spent on digital display ads in the United States, with 43% of marketers considering display ads the least effective channel[94]. - 81% of consumers believe friends and family are the most reliable sources of information about products[95]. - The average American adult spent 7 hours and 58 minutes per day using digital media in 2020, with usage expected to continue accelerating[96]. Internal Controls and Legal Matters - As of September 30, 2024, the company identified a material weakness in internal control over financial reporting[151]. - The company plans to enhance internal control by appointing additional qualified personnel, contingent on securing financing or generating significant revenue[152]. - The company concluded that its financial statements present fairly its business and financial condition despite the identified weaknesses[147]. - The company is not currently involved in any legal proceedings that could materially affect its business[154]. Future Plans - The company aims to list its common stock on Nasdaq under the symbol "TZUP" following its admission to the OTCQB[88]. - The company has incurred losses since inception and is seeking to raise additional funds through loans or sales of common stock[108].

Thumzup revolutionizes influencer marketing, enabling individuals to monetize their video posts on Instagram Reels by partnering with participating advertisers. Los Angeles, CA, Nov. 12, 2024 (GLOBE NEWSWIRE) -- Thumzup Media Corporation ("Thumzup" or the "Company") (Nasdaq: TZUP), a leading provider of innovative social media branding and marketing solutions which allow businesses and brands to pay customers and fans cash through Venmo and PayPal for their posts on social media, today announced the beta la ...

Los Angeles, CA, Nov. 06, 2024 (GLOBE NEWSWIRE) -- Thumzup Media Corporation ("Thumzup" or the "Company") (Nasdaq: TZUP), a leading provider of innovative social media branding and marketing solutions which allow businesses and brands to pay customers and fans cash through Venmo and PayPal for their posts on social media, is nearing completion of developing video capabilities to facilitate its proprietary ad tech platform’s integration with Instagram Reels (Instagram and its trademark are owned by Meta Plat ...