Adam Hamid, Founder and CEO of Translucent Portals Inc. Cancels Reverse Merger and Pursues Direct Listing

FRISCO, Texas, Sept. 19, 2019 /PRNewswire-PRWeb/ -- Global Media Network Translucent Portals Inc. is preparing for their Series B and C funding rounds by raising $3.3 million in Series A with the intention of going public through a direct listing and token offering, respectively. The Company is in the production and distribution of niche content and locally-focused news media. Translucent Portal's business model is based on changing the way that content creators get paid as well as the way advertisers work with digital media companies. By taking the site's focus away from algorithms and advertiser focus away from broad reach, Translucent Portals strives to put the power back into the users' hands.

When one thinks of user-driven content platforms, Medium, Paper.li, and TikTok may come to mind since virtually all of the contributions are by their users. Social media would be the next strata as it contains both traditional news media and publications alongside user-created content, but tends to impose specific types of content on its users algorithmically or through advertiser pressure. On a news media scale, local news is often superseded by national news from major cities like New York, Chicago, and Los Angeles simply due to the fact that these areas have larger populations, and thus a larger base to advertise to.

Translucent Portals is entering the sphere to bridge the gap between user-driven content and social media, by giving more power to the users. With advertisers coming to the user base instead of the other way around as it's always been done, Translucent Portals is aiming to give Facebook and Twitter a run for their money. The Company seeks to disrupt their model by giving content creators residuals every time their work is downloaded or viewed, with the standard 30% going to the platform and 70% to the creator. Unlike the more opaque algorithmic models that are plaguing sites like Medium, Steam, and so on, content creators aren't just ensured that they will get compensated every time their content is consumed, but they will have a very curated group of users specifically interested in their content so they are not competing with thousands of advertisers and users with bigger audiences. "Think Facebook meets YouTube meets iTunes," says Adam Hamid, Founder and CEO of Translucent Portals.

In true David vs. Goliath fashion, the company is even disrupting the traditional way that capital has been raised for digital media production companies by going public through a direct listing and initial coin offering. "We want to be able to tell our story, access capital more efficiently, and provide our investors with more liquidity," states Mr. Hamid.

The Company Pivots From Reverse Merger To DPO
Translucent Portals Inc. intended on taking their Company public by way of a reverse merger with Prime Companies Inc., a Delaware shell corporation that previously was once trading on the OTCBB. The two Companies were in fierce negotiations for over two months but could not come to terms and the deal inevitably fell through. Translucent Portals Inc. now intends to list their trading shares directly on the NASDAQ or OTCQX; and other cryptocurrency exchanges. "Time was of the essence," says Mr. Hamid. "I have taken a step back and slowed down our operations in order to methodically think this through. Now that it is unnecessary to raise $150k to purchase the shell company plus pay for associated reverse merger legal fees, we can spend our energy and resources to conduct an audit, file our registration statement with the SEC, complete the 15C2-11 application process, and obtain a market maker."

Translucent Portals Inc. will pursue a direct listing to provide unfettered access to all buyers and sellers of its shares, allowing Translucent Portals existing shareholders the ability to sell their shares immediately after listing at market prices. The Company will raise working capital through a Reg A+ financing vehicle. According to Title IV of the JOBS Act this type of offering allows private companies to raise up to $50 Million per year from the public market. Like an IPO, Reg A+ allows companies to offer shares to the general public and not just accredited investors.

From Prison to Educational Tools to Disrupting Content Distribution
Founder Adam Hamid served over nine years in the Federal Bureau of Prisons for drug-related offenses. He built Translucent Portal's business model with fellow inmates and used the time to study economics and marketing with Ohio University's correspondence program. He turned his life around and became an entrepreneur after his release, using his experience tutoring other inmates to start Teacherspartner.com and educational technology ROUSIX after using financial help from family, friends, and his own credit cards as startup funds. "I spent many hours researching numerous business model case studies from top Ivy League Schools," says Mr. Hamid. "But the Company was not built at Harvard, Yale, or Stanford. Translucent Portals was built in the Feds." Upon teaming up with Robert Tomlinson, company President, and an advisory team of bankers, educators, and investors, the company is currently raising $3.3 million in Series A funding with a valuation of $33 million. The company plans to use the proceeds to expand operations with dedicated office space, hire staff, enter the public markets and expand their reach. Upon the direct listing and initial coin offering materializing, the Company's valuation is anticipated to be positively impacted.

About Translucent Portals
Translucent Portals is a user-driven production and distribution company for media content. Focusing on niche markets such as education and local areas, Translucent Portals builds dedicated communities of members who both supply and consume the content offered on its websites. For more information, visit http://www.TranslucentPortals.com.

SOURCE Translucent Portals Inc.