Westlake Village data firm BIGtoken announced it has gone public through a reverse merger with Force Protection Video Equipment Corp., a North Carolina company that sells video and audio equipment to police units.
BIGtoken’s parent company, SRAX Inc., a fintech firm publicly traded on the Nasdaq, entered a share exchange agreement in September with Force Protection, which trades on the over-the-counter markets for pennies a share.
Force Protection issued to SRAX more than 159 billion shares of common stock in exchange for all of BIGtoken’s issued and outstanding shares, plus promissory notes valued around $850,000.
Force Protection will be renamed BIGtoken Inc. Cryptocurrency pioneer and digital media veteran Lou Kerner was hired earlier this month to lead the resulting company as chief executive.