MiMedia Holdings Ltd. announced a signed global Distribution Agreement with Schok, LLC. Founded in 2018 and headquartered in Frisco, Texas, Schok is a pioneer in the smartphone industry with a mission to redefine the market for entry-level smartphones. Schok aims to bridge the gap between affordability and functionality with smartphones that feature cutting-edge technology typically reserved for higher-priced devices but now accessible to a broader audience.

Their smartphones are designed to offer exceptional quality, modern design, software and robust performance capabilities at competitive prices, providing consumers with high-quality alternatives to the more costly options currently available. MiMedia is a next generation consumer cloud platform that partners with smartphone makers and telecom carriers globally to provide their consumers with a unique personal cloud experience that enables all types of personal media to be secured in the cloud, accessed seamlessly, across all devices and operating systems and at any time. As part of the multi-year Agreement, MiMedia will integrate its platform directly onto 5 million mobile devices over the next 24 months, including smartphones and tablets.

MiMedia's consumer cloud platform will provide Shock with a churn-reducing product, deliver immediate market differentiation and enable multiple high-margin and recurring revenue streams. With this new partnership, MiMedia adds to its total contracted devices to deploy in the next 24 months - now standing at 35 million. The company expects solid and growing device deployments in the 2H of this year, which is the busy season for smartphone volume in any calendar year. These device deployments will bring scaling revenue and cash flow opportunities.