LOS ANGELES, Feb. 4, 2015 (GLOBE NEWSWIRE) -- GAWK Inc. (OTCQB:GAWK) announced today that it has abandoned its web-streaming platform. Scott Kettle, CEO of GAWK, Inc., said, "Our original business plan encompassed the streaming of digital media. Our platform was based on an infusion of funds to create a unique formula that was very costly to design and produce, and required the assistance of a team of designers and technicians. Because the Company was victimized by an outside party, the promised funding did not materialize and our technical support has departed. We are regrouping and formulating a new business model."
About GAWK, Inc.
Gawk Incorporated is a world innovator of self-service global digital distribution designed to meet the needs of modern consumers. www.gawkinc.com
Forward-Looking Statements
All statements in this release that are not strictly historical facts are "forward-looking statements." Such forward-looking statements are based on GAWK's current assumptions, beliefs and expectations, and involve risks, uncertainties and other factors that may cause GAWK's actual results to be materially different from any results expressed or implied by such forward-looking statements. Some can be identified by the use of words such as "expect," "plan," "possibility," "offer," "if," "negotiate," "when," "believe," "will," "estimate," "continue," and similar expressions. Risks, uncertainties, and other factors that could cause or contribute to such differences include, but are not limited to: ongoing and future intellectual property enforcement actions; the ability to successfully litigate or settle claims of patent infringement; GAWK's ability to obtain necessary financing, generate sufficient cash flow, and maintain appropriate indebtedness; and the increasing development of market competition in the area of telecommunications. These factors and others are described in more detail in GAWK's public filings with the Securities and Exchange Commission, including the risks discussed in the "Risk Factors" section in GAWK's Annual Report on Form 10-K and Quarterly Reports on Form 10-Q. Copies of these reports can be found on GAWK's website (http://gawkinc.com) under the heading "Investor Relations." GAWK is providing this information as of the date of this release and, except as required by law, does not undertake any obligation to update any forward-looking statements contained herein as a result of new information, future events or otherwise.