SOURCE: WRIT Media Group, Inc.

July 11, 2016 08:30 ET

WRIT Media Group Announces Development of Blockchain-Based Payment Systems

LOS ANGELES, CA--(Marketwired - Jul 11, 2016) - WRIT Media Group, Inc. (OTCQB: WRIT) is pleased to announce plans to integrate its Pelecoin Blockchain technology into products and applications that can be used to make it as easy to spend digital currencies, cryptocurrencies and Pelecoin, as it is to spend US Dollars.

Through its acquisition of Pandora Venture Capital, the Company assumed a skilled management team with backgrounds in payments, telecom and digital currency, making them an ideal group for bringing digital currencies and Blockchain-based payment technologies into the real world where they are attached to a debit card or mobile phone payment application.

"Our goal is to create the industry standard for Blockchain-based, secured payments solutions," said Eric Mitchell, President of WRIT Media Group. "The Company has been in discussions with several market-leading, best-in-class industry players to engage an initial and formative partner that will invest in, and help develop, our Pelecoin technology into a proprietary, transparent, digital payment system that become the market standard."

About WRIT Media Group
WRIT Media Group, Inc. (OTCQB: WRIT) is a diversified media and software company whose operations include content production and distribution; video game distribution via mobile platforms; and digital currency software development, including trading platforms and Blockchain solutions.

The Company's portfolio of wholly owned businesses includes:

  • Front Row Networks, a content creation company which produces, acquires and distributes live event programming for worldwide digital broadcast into digitally enabled movie theaters and online streaming;
  • Amiga Games, a software company resurrecting the Amiga brand by publishing retro video games on smartphones, tablets and consoles;
  • Retro Infinity, Inc., a video game distribution portal which publishes video games from Amiga, Atari and other "retro" brands on today's smartphones, tablets and consoles; and
  • Pandora Venture Capital, a software developer with a focus on digital currency technologies, including; a cryptocurrency trading platform, a new generation of cryptocurrency, and Blockchain technology solutions.

Cautionary Note Regarding Forward-Looking Statements
Except for the historical information contained herein, the matters discussed in this press release are forward-looking statements that involve risks and uncertainties that could cause actual results to differ materially from those predicted by such forward-looking statements. Investors are cautioned that all forward-looking statements involve risks and uncertainties, including, but not limited to, those discussed in WRIT Media Group's latest 10-Q filed December 31, 2015. The company undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.

Pandora Venture Capital Corp., Pelecoin, CrypStock.com and its related trademarks and names are the property of WRIT Media Group, Inc. and are registered and/or used in the U.S. and countries around the world. All rights reserved. All other trademarks belong to their respective owners.

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