Welcome to our dedicated page for Sanwire news (Ticker: SNWR), a resource for investors and traders seeking the latest updates and insights on Sanwire stock.
Sanwire Corporation reports news as an OTC-traded diversified company focused on aggregating technologies across industries, with prior operating updates centered on Intercept Music and entertainment technology. Coverage has included music distribution and marketing tools for independent artists and labels, platform integrations, artist and label partnerships, SaaS-based marketing services, and AI-enabled music marketing features.
Sanwire news also includes shareholder and corporate-status matters, including engagement of a PCAOB-registered auditor in preparation for a Form 10 filing and litigation-related capital-structure issues involving common-share issuances. These updates frame the company through operating partnerships, financial reporting preparation, acquisition-related disputes, and prospective business-development activity.
LOS ANGELES, CA / ACCESSWIRE / August 24, 2020 / Intercept Music, part of Sanwire Corporation (OTC PINK:SNWR), has successfully launched the Intercept PLUS label services program, onboarding 25 bands and distributing over 20 million streams. The program, designed for bands with at least 10,000 fans, aims for gross receipts of $30,000 annually per band. Intercept manages multiple revenue streams while enabling artists to retain control over their careers. The company has a backlog of bands, including a prominent Grammy-winning act, set to join soon.
Sanwire Corporation (OTC PINK:SNWR) announced the retirement of $415,000 in long-term debt, converting a convertible note into Series C Preferred Stock. This debt retirement, impacting over 34% of their long-term obligations, is part of a plan to strengthen the balance sheet and attract investors. CEO Chris Whitcomb highlighted potential for enhanced service offerings and growth via its subsidiary, Intercept Music, which focuses on independent artist support and is rapidly transitioning to revenue generation. The financial impact will be detailed in upcoming filings.
Sanwire Corporation (OTC:SNWR) announced through its subsidiary, Intercept Music, the release of a new track, 'Hip Hop 2020' by DJ-producer Mr. Green, featuring rapper Redman. The distribution agreement aligns with Intercept's mission to support independent artists by providing access to major digital stores and streaming services. The company emphasizes its comprehensive marketing tools, including subscription-based promotional services. Intercept is focusing on maximizing revenue opportunities for its artists, as stated by President Tod Turner.
Sanwire Corporation (OTC PINK:SNWR) reported remarkable Q2 2020 financial results for its subsidiaries Intercept Music and Art is War Records. Revenue surged by over 325% and gross profit increased by approximately 200% compared to Q1. This substantial growth comes despite economic challenges, showcasing strong demand for their services, particularly the Intercept PLUS program. Sanwire's recent acquisitions and partnerships are expected to drive further growth, bolstering its position within the entertainment technology sector.