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Miami Beach, FL -- November 21, 2017 -- InvestorsHub NewsWire -- Favored, Inc. (OTC Pink: FVRD) announced today the company is has entered into
Favored, Inc., through its wholly owned subsidiary Empire Mobile Studios, Inc., has entered into mining contracts with a leading mining company to mine for both Ethereum and Zcash.
At present, the market cap of Ethereum is in the $35 Billion range with prices up over 3,000 percent over the last year. Zcash has a market cap approaching $1 Billion with prices in the $300 range. Ethereum has the second largest market cap of all crypto currencies and Zcash is an up and coming crypto currency that continues to increase in popularity and usage. Zcash has the built in feature of "selective disclosure" allowing users the option of anonymous transactions or if desired full disclosure for auditable transactions to provide proof of payment.
Additionally, the company has just recently taken 46 million shares of free trading common stock out of the float which additionally decreases the number of shares of common stock outstanding. The company will provide OTC Markets updated share count information in order to reflect the new float and outstanding share count reduction on the company's profile page.
"We are working diligently to provide shareholder value. The free trading common share reduction is just one of many planned corporate actions the company is taking to increase overall value to shareholders. We believe that the crypto mining contracts provide some exciting opportunities for the company. We look forward to providing additional updates in the near term," stated Craig Coaches, President of Favored Inc.
