# EDGAR Filing Document

**Accession Number:** 0001538217
**File Stem:** 0001493152-23-008327
**Filing Date:** 2023-3
**Character Count:** 26857
**Document Hash:** 355931bcdb74e5fa68dbea8afba3ef93
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001493152-23-008327.hdr.sgml**: 20230321

**ACCESSION NUMBER**: 0001493152-23-008327

**CONFORMED SUBMISSION TYPE**: 8-K

**PUBLIC DOCUMENT COUNT**: 32

**CONFORMED PERIOD OF REPORT**: 20230314

**ITEM INFORMATION**: Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers

**ITEM INFORMATION**: Regulation FD Disclosure

**ITEM INFORMATION**: Financial Statements and Exhibits

**FILED AS OF DATE**: 20230321

**DATE AS OF CHANGE**: 20230321

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** SRAX, Inc.
- **CENTRAL INDEX KEY:** 0001538217
- **STANDARD INDUSTRIAL CLASSIFICATION:** SERVICES-ADVERTISING AGENCIES [7311]
- **IRS NUMBER:** 452925231
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 8-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-37916
- **FILM NUMBER:** 23747942

**BUSINESS ADDRESS:**
- **STREET 1:** 2629 TOWNSGATE ROAD #215
- **CITY:** WESTLAKE VILLAGE
- **STATE:** CA
- **ZIP:** 91361
- **BUSINESS PHONE:** 323-694-9800

**MAIL ADDRESS:**
- **STREET 1:** 2629 TOWNSGATE ROAD #215
- **CITY:** WESTLAKE VILLAGE
- **STATE:** CA
- **ZIP:** 91361

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** SOCIAL REALITY, Inc.
- **DATE OF NAME CHANGE:** 20131112

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** SOCIAL REALITY
- **DATE OF NAME CHANGE:** 20111227

?xml version="1.0" encoding="utf-8"?

**UNITED STATES**

**SECURITIES AND EXCHANGE COMMISSION**

**Washington, DC 20549**

**FORM 8-K**

**CURRENT REPORT**

**Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934**

Date of Report (Date of earliest event reported) **March 14, 2023**

**SRAX, INC.**

*(Exact name of registrant as specified in its charter)*

---

| | | |
|:---|:---|:---|
| **Delaware** | **001-37916** | **45-2925231** |
| *(State or other jurisdiction of incorporation or organization)* | *(Commission*<br> *File Number)* | *(I.R.S. Employer*<br> *Identification No.)* |

---

---

| | |
|:---|:---|
| **2629 Townsgate Road #215, Westlake Village, CA** | **91361** |
| *(Address of principal executive offices)* | *(Zip Code)* |

---

Registrant's telephone number, including area code: **(323) 205-6109**

**not applicable**

*(Former name or former address, if changed since last report)*

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

---

| | | |
|:---|:---|:---|
| **Title of Class** | **Trading Symbol** | **Name of Each Exchange on Which Registered** |
| **Class A Common Stock** | **SRAX** | **OTC Market** |

---

Indicate by check mark whether the registrant is an emerging growth company as defined in in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by checkmark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

**Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.**

On March 14, 2023, the board of directors (the "Board") of SRAX, Inc. (the "Company") appointed Alan Urban to replace Michael Malone as the Company's Chief Financial Officer pursuant to an employment offer letter, which sets forth the terms of Mr. Urban's services as Chief Financial Officer and his compensation arrangement (the "Offer Letter"). The Offer Letter was entered into as of March 14, 2023 (the "Appointment Date"). Mr. Malone remains a non-officer employee of the Company pursuant to his original employment agreement, dated December 15, 2018.

Mr. Urban, age 54, has over 30 years of experience in corporate finance and accounting. Mr. Urban serves on the board of directors of GT Biopharma (NASDAQ:GTBP), and has previously served in numerous senior management positions, including: Chief Financial Officer of Research Solutions (NASDAQ: RSSS) a leader in SaaS workflow solutions for information driven companies, from 2011 through 2021; Chief Financial Officer of ReachLocal (NASDAQ: RLOC) an internet marketing company that ranked #1 on Deloitte's Tech Fast 500 List, from 2007 to 2009; and CFO of Creek Road Miners (OTCQB:CRKR), a bitcoin mining firm, in 2022. Mr. Urban has also held positions as an audit and tax manager in public accounting, and as an internal auditor. He holds a B.S. in Business, with a concentration in Accounting Theory and Practice, from California State University, Northridge and has been a Certified Public Accountant (currently inactive) since 1998.

Pursuant to the Offer Letter, Mr. Urban will receive a yearly base salary of $300,000 (the "Base Salary"). Further, Mr. Urban will be eligible to an annual bonus (pro-rated for the fiscal year ending December 31, 2023) of $150,000, subject to the Board's discretion. Mr. Urban will also receive a stop option to purchase up to 300,000 shares of the Company's common stock, in accordance with the Company's equity compensation plan, with an exercise price equal to $0.44, which equals the closing price of the Company's common stock as of the Appointment Date (the "Option Grant"). The Option Grant is conditioned upon Mr. Urban's completion of the Company's delinquent reports with the Securities and Exchange Commission ("SEC"), including the Quarterly Reports on Form 10-Q for the quarters ended June 30, 2022, and September 30, 2022, and the Annual Report on Form 10-K for the year ended December 31, 2022 (collectively, the "Delinquent Reports"). The Option Grant will vest as follows: 40% to vest upon completion of the Delinquent Reports during the term of Mr. Urban's employment, and the remaining 60% to vest in equal quarterly installments during the following two (2) year period, subject to the completion of the Delinquent Reports. The Offer Letter also provides for severance benefits equal to six (6) months of Mr. Urban's then Base Salary if his employment is terminated for any reason other than for Cause (as defined in the Offer Letter).

The foregoing description of the Offer Letter does not purport to be a complete description of the rights and obligations of the parties thereunder and is qualified in its entirety by reference to the Offer Letter, which are included as Exhibit 10.1 to this Current Report on Form 8-K.

**Item 7.01 Regulation FD Disclosure.**

On March 9, 2023, the Company announced via press release that it would hold a virtual shareholder conference on March 15, 2023 at 1:30 p.m. Pacific Time. A copy of the press release which discusses this matter is furnished hereto as Exhibit 99.1, and incorporated herein by reference.

The Company thereafter held the virtual shareholder meeting on March 15, 2023, and used the presentation attached to this Current Report on Form 8-K as Exhibit 99.2 (the "Investor Presentation") and incorporated herein by reference, in whole or in part, and possibly with modifications, in connection with presentations to investors, analysts and others.

The information contained in the Investor Presentation is summary information that is intended to be considered in the context of the Company's SEC filings and other public announcements that the Company may make, by press release or otherwise, from time to time. The Company undertakes no duty or obligation to publicly update or revise the information contained in this report, except as required by law although it may do so from time to time as its management believes is warranted. Any such updating may be made through the filing of other reports or documents with the SEC, through press releases or through other public disclosure.

The information in the press release, Investor Presentation and this Item 7.01 of this Current Report on Form 8-K, including Exhibits 99.1 and 99.2, shall not be deemed "filed" for purposes of Section 18 of the United States Securities Exchange Act of 1934 (the "Exchange Act") or otherwise subject to the liabilities of that section, nor shall they be deemed incorporated by reference in any filing under the United States Securities Act of 1933 or the Exchange Act, except as shall be expressly set forth by specific reference in such a filing.

**Item 9.01 Financial Statement and Exhibits.**

---

| | |
|:---|:---|
| **Exhibit**<br> **No.** | <br> **Description** |
| 10.1 | [Offer Letter, dated March 14, 2023.](ex10-1.htm) |
| 99.1 | [Press Release, dated March 9, 2023.](ex99-1.htm) |
| 99.2 | [Investor Presentation, dated March 15, 2023.](ex99-2.htm) |
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document). |

---

**SIGNATURES**

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this Report on Form 8-K to be signed on its behalf by the undersigned hereunto duly authorized.

---

| | | | |
|:---|:---|:---|:---|
| Date: | March 21, 2023 | SRAX, Inc. | SRAX, Inc. |
|  |  |  | */s/ Christopher Miglino* |
|  |  | By: | Christopher Miglino |
|  |  |  | Chief Executive Officer |

---

## Exhibit 10.1

**Exhibit 10.1**

**SRAX, Inc.**

2629 Townsgate Road #214

Westlake Village, CA

March 14, 2023

Alan Urban

4411 Westchester Dr.

Woodland Hills, CA 91364

**EMPLOYMENT OFFER LETTER**

Dear Alan,

SRAX, Inc. (the "Company") is pleased to offer you formal employment for the position of Chief Financial Officer beginning on March 14, 2023. Until an executive employment agreement is finalized, this offer letter, once fully executed by both parties, will constitute an agreement between you and the Company.

The material terms and conditions of our offer of employment are presented below:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. <u>Employment</u>. The Company hereby offers you, and you hereby accept, employment with the Company beginning on March 14, 2023 (the "Effective Date"), until such time as either you or the Company chooses to terminate the employment (the "Term"). Your employment relationship will be employment at-will, terminable by either you or the Company with or without cause.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. <u>Capacity and Performance</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Commencing on the Effective Date, you will employed by the Company as its Chief Financial Officer. You will report to the Chief Executive Officer and perform such duties and responsibilities as may be prescribed from time to time.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) During the Term, you will be employed by the Company on a full-time basis and will devote your full business time and best efforts, business judgment, skill and knowledge to the advancement of the business and interests of the Company. You may accept directorships unrelated to the Company that do not give rise to any conflicts of interest with the Company or its affiliates, or otherwise interfere or deter you from performing your duties hereunder.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3. <u>Compensation and Benefits</u>. As compensation for services performed as Chief Financial Officer pursuant to this offer letter:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) <u>Base Salary</u>. The Company will pay you a base salary at the rate of Three Hundred Thousand Dollars ($300,000.00) per annum, payable in accordance with the payroll practices of the Company (the "Base Salary"). The Base Salary will be reviewed at least annually by the board of directors of the Company (the "Board"), and the Board may, but will not be required, to increase the Base Salary from time to time. However, the Base Salary will not be decreased during the Term other than as part of an across-the-board salary reduction in the same manner for all senior executives.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) <u>Annual Bonus Compensation</u>. With respect to each full fiscal year of the Company occurring during Term (or pro-rated for the Company's 2023 fiscal year), you will be eligible to earn an annual target bonus of One Hundred Fifty Thousand Dollars ($150,000) (the "Annual Bonus"); provided, however, that the decision to provide any Annual Bonus will be in the sole and absolute discretion of the Compensation Committee of the Board. The Annual Bonus will be paid in quarterly installments at the end of each calendar quarter (March 31, June 30, September 30 and December 31).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) <u>Equity Participation</u>. You will receive a stock option to purchase up to 300,000 shares of the Company's common stock pursuant to the terms of the Company's 2016 Equity Compensation Plan. Such stock option will have an exercise price equal to the closing price of the Company's common stock on the date of grant, and will vest as follows: (i) 40% to vest upon completion during the Term of the Company's delinquent reports with the U.S. Securities and Exchange Commission for the quarters ended June 30, 2022 and September 30, 2022, and for the year ended December 31, 2022 (collectively, the "Delinquent Reports"), and (ii) the remaining 60% to vest in equal quarterly installments over the following two year period, subject to the completion of the Delinquent Reports. Such stock option will fully vest in connection with a Change in Control. As used herein, "Change in Control" shall mean the occurrence of any of the following after the Effective Date: (i) one person (or more than one person acting as a group) acquires ownership of stock of the Company that, together with the stock held by such person or group, constitutes more than 50% of the total fair market value or total voting power of the stock of such corporation; provided that, a Change in Control will not occur if any person (or more than one person acting as a group) owns more than 50% of the total fair market value or total voting power of the Company's stock and acquires additional stock; (ii) one person (or more than one person acting as a group) acquires (or has acquired during the twelve-month period ending on the date of the most recent acquisition) ownership of the Company's stock possessing 30% or more of the total voting power of the Company's stock; or (iii) the sale of all or substantially all of the Company's assets. Notwithstanding the foregoing, a Change in Control will not occur unless such transaction constitutes a change in the ownership of the Company, a change in effective control of the Company, or a change in the ownership of a substantial portion of the Company's assets under Section 409A.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) <u>Other Benefits</u>. During the Term, you will be entitled to participate in all health and welfare plans and retirement plans made available from time to time to other executives of the Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) <u>Vacation Days</u>. You will be entitled to twenty (20) vacation days per calendar year. You are encouraged to take vacation in the calendar year it is earned, at such times and intervals as you determine, subject to the reasonable business needs of the Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4. <u>Termination of Employment and Severance Benefits</u>. You and the Company will each have the right to terminate your employment at any time, with or without cause. You will be entitled to an amount equal to six (6) months of your then current Base Salary if your employment hereunder is terminated by the Company for any reason other than for Cause. As used herein, "Cause" shall mean: (i) willful failure to properly carry out your duties and responsibilities or to adhere to the policies of the Company after written notice by the Company of the failure to do so, and such failure remaining uncorrected following an opportunity for you to correct the failure within ten (10) days of the receipt of such notice, (ii) theft, fraud, embezzlement or misappropriation, or the gross negligence or willful misconduct, involving the property, business or affairs of the Company, or in the carrying out of your duties, (iii) conviction of or plea of guilty or nolo contendere to a crime that constitutes a felony (or state law equivalent) or a crime that constitutes a misdemeanor involving fraud, dishonesty, theft or violence, (iv) willful engagement in dishonesty, illegal conduct, or gross misconduct, which is, in each case, materially injurious to the Company or its affiliates, (v) willful failure to comply with any valid and legal directive of the Board, (vi) willful unauthorized disclosure of Confidential Information (as defined below) or (vii) conduct that brings or is reasonably likely to bring the Company negative publicity or into public disgrace, embarrassment, or disrepute.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5. <u>Confidential Information</u>. You hereby acknowledge that the Company continually develops confidential information, which may include any and all information, documents, data and materials whether written, oral and which is provided or otherwise disclosed to you, concerning the business, operations, finances, assets and plans of the Company, and/or information on any of the Company's technologies, know-how, patents, agreements with business partners, market and company-specific data, graphs, drawing, past, current, and planned research and development, current and planned manufacturing, marketing and /or distribution methods and processes, customer lists, price lists and other end-user pricing related information, settlement rates, manufacturing charges, market studies, computer software and programs, database technologies, systems, structures and architectures, plant plans, business plans, financial projections and budgets, manufacturing and sales details, capital spending budgets and plans, current or prospective financing sources irrespective of the form of the communication ("Confidential Information"). You hereby further acknowledge that you may develop and learn of Confidential Information during the course of employment. You will comply with the policies and procedures of the Company for protecting Confidential Information and will not disclose to any Person or use, other than as required by applicable law or for the proper performance of your duties and responsibilities to the Company, any Confidential Information obtained by you incident to your employment or other association with the Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6. <u>Amendment</u>. This offer letter may be amended or modified only by a written instrument signed by you and by an expressly authorized representative of the Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7. <u>Governing Law</u>. This offer letter will be construed and enforced under and be governed in all respects by the laws of the State of California, without regard to the conflict of laws principles thereof, and, for the avoidance of doubt, will include both the statutory and common law of California, except to the extent preempted by federal law.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8. <u>Severability</u>. Should any provision of this offer letter be held by a court of competent jurisdiction to be enforceable only if modified, or if any portion of this Agreement will be held as unenforceable and thus stricken, such holding will not affect the validity of the remainder of this offer, the balance of which will continue to be binding upon the parties with any such modification to become a part hereof and treated as though originally set forth in this offer letter.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9. <u>Survival</u>. The respective rights and obligations of the parties hereto will survive expiration or other termination to the extent necessary to carry out the intentions of the parties under this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10. <u>Counterparts</u>. This offer letter may be executed in counterparts, each of which shall be deemed to be an original but all of which together shall constitute one and the same instrument.

[Signature page follows]

To indicate your acceptance of the employment terms set forth above, please sign and date this offer letter in the space provided below and return a copy to me. Please do not hesitate to contact me if you have any questions.

---

| | |
|:---|:---|
| Very truly yours, | Very truly yours, |
| **SRAX, INC.** | **SRAX, INC.** |
| By: | */s/ Christopher Miglino* |
| Name: | Christopher Miglino |
| Title: | Chief Executive Officer |

---

---

| |
|:---|
| <u>ACCEPTANCE OF EMPLOYMENT OFFER</u>: |
| I accept the offer of employment by SRAX, Inc. |
| on the terms described in this offer letter. |
| */s/ Alan Urban* |
| Alan Urban |

---

## Exhibit 99.1

**Exhibit 99.1**

**SRAX Reassures Investors of Business Health Amid Delisting Notice**

Los Angeles, California—(Newsfile Corp. - March 9, 2023) - SRAX, Inc. (NASDAQ: SRAX), a financial technology company that provides data and insights to publicly traded companies through its SaaS platform Sequire, would like to reassure its investors that the company's core business remains strong despite the recent delisting notice from NASDAQ. The delisting was caused by a late filing, and the company is actively working to regain compliance as soon as possible.

We are pleased to report that SRAX has added over 25 new customers in the first quarter of 2023, indicating the strength of our business and the value we provide to our clients. We remain confident that this momentum will continue, and that the company will be able to overcome the current challenges.

To update our shareholders and address any concerns they may have, we will be hosting a conference call on Wednesday, March 15th at 1:30 pm PST. During this call, our management team will provide an update on the business and address any questions or concerns that investors may have.

We understand that our investors are concerned about the delisting notice and want to assure them that we are taking all necessary steps to regain compliance as soon as possible. Our team is working diligently to ensure that we meet all requirements and regulations to ensure a smooth and swift resolution to this issue.

To participate in the conference call, please visit the following link: <u>https://audience.mysequire.com/webinar-view?webinar_id=2b4cf0cc-459b-44e3-abdf-7c159a7b9f30</u>. If you would like to ask a question, please use the following link: <u>https://sequirecommunity.com/company/87c4674c-fa68-4648-b1f9-1ca0f503aa8f/event/337e82cf-3f58-4635-9f68-7d7f0a994684</u>.

At SRAX, we are committed to keeping our shareholders informed and providing transparency about the current situation. We appreciate the continued support of our shareholders and are confident that we will be able to regain compliance as soon as possible.

**About SRAX**

SRAX (SRAX) is a financial technology company that provides data and insights to publicly traded companies through its SaaS platform Sequire. With Sequire, companies can track their investors' behaviors and trends and use those insights to engage current and potential investors across marketing channels. For more information on SRAX, please visit our websites: srax.com and mysequire.com.

**Cautionary Statement Regarding Forward-Looking Information:**

This news release contains "forward-looking statements'' made pursuant to the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements relate to future, not past, events and may often be identified by words such as "expect," "anticipate," "intend," "plan," "believe," "seek" or "will." Forward-looking statements by their nature address matters that are, to different degrees, uncertain. Such forward-looking statements may relate to, among other things, the Company's continued efforts and ability to regain and maintain compliance with the Nasdaq Listing Rules. Specific risks and uncertainties that could cause our actual results to differ materially from those expressed in our forward-looking statements include risks inherent in our business, and our need for future capital. Actual results may differ materially from the results anticipated in these forward-looking statements. Additional information on potential factors that could affect our results and other risks and uncertainties are detailed from time to time in SRAX's periodic reports filed with the Securities and Exchange Commission (SEC), including its Annual Report on Form 10-K for the year ended December 31, 2021, its Quarterly Reports on Form 10-Q as well as and in other reports filed with the SEC. We do not assume any obligation to update any forward-looking statements.

**Contact:**

<u>Investors@srax.com</u>

## Exhibit 99.2

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