MEGA MATRIX CORP. Announces Completion of Acquisition of the Parent of FlexTV, a Short Drama Streaming Platform

PALO ALTO, Calif., Aug. 16, 2024 /PRNewswire/ -- Mega Matrix Corp. ("MPU" or the "Company") (NYSE American: MPU), today announced that it has completed the acquisition of the remaining 40% of FunVerse Holding Limited ("FunVerse"), a company incorporated under the laws of the British Virgin Islands and the sole parent company of Yuder Pte, Ltd. ("Yuder"). The Company initially acquired 60% of FunVerse's capital stock on January 7, 2024, and has now acquired the remaining 40%, bringing its ownership to 100%. The acquisition was completed through a definitive Share Exchange Agreement, under which the Company acquired the remaining 40% of voting capital stock of FunVerse, in exchange for 1,500,000 shares of the Company's common stock.

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