What changed in this filing

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Item 1. Business

2020-03-30 compared with 2019-04-01 · 496 added, 168 removed, 2 unchanged (100% of the section changed)

Jerrick Media Holdings, Inc.

(“we,”

“us,”

the “Company,”

or “Jerrick Media”) (formerly Great Plains Holdings, Inc.

or “GTPH”)

was incorporated under the laws of the state of Nevada on December 30, 1999 under the name LILM, Inc.

The Company changed its

name on December 3, 2013 to Great Plains Holdings, Inc.

as part of its plan to diversify its business through the acquisition

and operation of commercial real estate, including, but not limited to, self-storage facilities, apartment buildings, 55+ senior

manufactured home communities, and other income producing properties.

Historically, the Company has principally engaged in the

manufacture and marketing of the LiL Marc, a plastic boys’

toilet-training device, which we discontinued as of December

On February 5, 2016 (the “Closing

Date”), GTPH, GPH Merger Sub, Inc., a Nevada corporation and wholly-owned subsidiary of GTPH (“Merger Sub”),

and Jerrick Ventures, Inc., a privately-held Nevada corporation headquartered in New Jersey (“Jerrick”), entered into

an Agreement and Plan of Merger (the “Agreement”) pursuant to which the Merger Sub was merged with and into Jerrick,

with Jerrick surviving as a wholly-owned subsidiary of GTPH (the “Merger”).

GTPH acquired, through a reverse triangular

merger, all of the outstanding capital stock of Jerrick in exchange for issuing Jerrick’s shareholders (the “Jerrick

Shareholders”), pro-rata, a total of 28,500,000 shares of GTPH’s common stock.

GTPH assumed 33,415 shares of Jerrick’s

Series A Convertible Preferred Stock (the “Jerrick Series A Preferred”) and 8,064 shares of Series B Convertible Preferred

Stock (the “Jerrick Series B Preferred”).

In connection with the Merger, on the

Closing Date, GTPH and Kent Campbell entered into a Spin-Off Agreement (the “Spin-Off Agreement”), pursuant to which

Campbell purchased from GTPH (i) all of GTPH’s interest in Ashland Holdings, LLC, a Florida limited liability company,

and (ii) all of GTPH’s interest in Lil Marc, Inc., a Utah corporation, in exchange for the cancellation of 781,818 shares

of GTPH’s Common Stock held by Mr.

(“JMDA”

or “the Company”) is the parent company and creator of the Vocal platform.

The Company develops technology-based solutions

to solve problems for the creator community, connecting creators with their ideal audiences and with the brands that want to access

those audiences.

Through a combination of data analysis, design, and development, the Company conceptualizes, creates, and maintains

a suite of technology products and provides services that influence a global audience.

is committed to identifying and leveraging opportunities within the digital platform and content monetization space.

technology is built to organically sustain and scale multiple lines of revenue.

In addition, the Company has successfully acquired

and integrated complimentary technology platforms and media assets into Vocal’s existing infrastructure, and will continue

to make targeted acquisitions of public and private companies.

The Vocal technology platform, trademark, and related intellectual

property are wholly owned and operated by Jerrick.

operations are organized into the following business segments:

Executive Team:

Decades of combined experience spanning the finance, technology, and creative industries are fundamental to the team’s

core strengths.

The Jerrick team, whose optimal headcount is approximately 25 employees,

comprises a collective of generalist and specialist professionals.

The Company’s mentality is a hybrid of a hedge fund

leveraging data and analytics to generate alpha, and a technology company’s development, design, and integration capabilities.

Together, these core competencies provide a foundation for optimizing platform expansion, revenues, and cost reduction.

Platform Compliance:

Moderation of user-submitted content and onboarding of creators onto the Vocal platform utilizes a combination of human touch and data-driven judgements that ensure adherence with our Community Guidelines and breed trust and safety within the Vocal ecosystem.

Control and Risk Management:

Jerrick’s corporate governance is centrally managed by its internal operating committee, consisting of representatives from each of the Company’s core business units–finance, operations, business intelligence, product design, and corporate communications.

The team leverages the Company’s resources, and applies them horizontally across its portfolio of businesses and assets.

This agile operational infrastructure allows for a feedback loop of applicable data for achieving its business risk management, regulatory, and compliance responsibilities.

Design and Development:

Jerrick partners with external segment specialists in development and data analysis in connection with future applications and white labeling opportunities that leverage Vocal’s underlying technology architecture.

The Company is exploring application opportunities on a global scale, particularly in foreign language installations of the product.

Localized franchises and bespoke development ventures provide white-labeling opportunities in industries such as health and wellness, education, and sports.

These industries can utilize Vocal’s underlying technology and operational resources at reduced capital expenditures.

Marketing and Sales:

Jerrick’s business intelligence and marketing teams identify and target individual creators, communities, and brands, utilizing empirical data harnessed from the Vocal platform.

The team’s ability to apply first-party data works to reduce acquisition costs for new creators and to help provide brands with conversions and an ideal targeted audience.

Jerrick’s internal design team produces unique branded content experiences on the Vocal platform, including branded content campaigns and brand-sponsored creator challenges, and promotes them across multiple distribution channels.

Our ability to collaborate with and acquire external agencies and specific media libraries creates opportunities to scale revenues both horizontally and vertically through Vocal’s digital ecosystem.

Vocal is Jerrick’s proprietary flagship technology platform

that provides creators with storytelling tools, engaged communities, and opportunities to monetize their content.

Vocal’s

architecture was engineered to support a scalable and easy-to-update platform that could adapt its capacity to meet the current

and growing demand for digital resources and technologies that foster virtual connection and community.

When the Jerrick team

first ideated the Vocal platform, we determined that our primary constituents should be creators, and placed them at the center

of our mission.

We identified their pain points and created a blueprint to solve them.

There are over 4.5 billion internet

of that, 83% publish some form of content on a monthly basis (blogs, photos, videos, and more), and 3.8 billion of them

are active on social media (according to a report published by GlobalWebIndex).

In 2020, the internet has become the linchpin of

the modern information society, as well as the modern social society.

Digital platforms like Vocal exist to help the world find

order in a vast ocean of opportunity.

A global crisis like the current COVID-19

coronavirus pandemic only further emphasizes how critical a role digital platforms play in society, as governmental bodies are

encouraging social distancing and restricting travel, and employers are widely implementing work-from-home policies.

born in an environment in which the total addressable market (TAM) for our platform is growing exponentially.

With the emerging

effects of COVID-19 and other global events, we expect that our TAM will only continue to expand.

Vocal’s proprietary technology

was developed with the help of Thinkmill, our Sydney-based development partners.

We used Thinkmill’s open-source content

management framework, Keystone, as a foundation for our proprietary technology, which enables us to provide rapid updates and cost

effective agile development.

Together with Thinkmill, our internal product design and quantitative groups are able to quickly distribute

product improvements, updates, and new features to improve our users’

We believe that the Vocal platform

and its underlying technology allows us to maintain a capital-light infrastructure.

By using cloud service providers, we are able

to focus on platform and revenue growth rather than building and maintaining the costly internal infrastructures that have materially

affected so many legacy media platforms.

Vocal’s technology has been specifically designed and built to scale without a material

corresponding increase in operational costs.

While our users can embed rich media, such as video, audio, and product links, into

their Vocal stories, the rich media content is hosted elsewhere (such as YouTube, Vimeo, Shopify, Spotify, etc.).

Thus, our platform

can accommodate rich media content of all kinds without bearing the financial or operational costs associated with hosting the

rich media itself.

Maintaining a sustainable and capital

light infrastructure is particularly important in tighter capital markets caused by external events that impact liquidity and credit,

such as the current COVID-19 pandemic.

Our technology is built to scale, while the rate of growth can be modulated through limits

on capital expenditure.

This creates a predictive environment in which the Company can continually reassess its capital needs and

adjust its course when faced with unforeseen developments.

Since its 2016 launch,

Vocal has amassed over 565,000 content creators across a wide range of mediums and backgrounds, such as bloggers, journalists,

influencers, musicians, artists, podcasters, gamers, entrepreneurs, and more.

Vocal creators provide a steady stream of user-generated,

which can be monetized through reads, as well as through tips received from audiences.

Vocal helps creators fund their creativity

and build their personal brand.

Vocal content creation process can be broken down into three key steps:

Vocal’s storytelling tools make

it easy for creators of all kinds to produce beautiful, engaging, rich-media content.

Creators share stories on one of Vocal’s

34 genre-specific communities to get discovered and connect with like-minded creators and readers.

Creators can earn money every time their

story is read, through participation in Challenges, and through tips received from fans.

Jerrick does not see Vocal as a substitute or competitor to segment-specific content platforms, such as Vimeo, YouTube, or SoundCloud.

Instead, Vocal is a supplementary tool with which to leverage the vast number of fragmented content creation tools that exist

in the digital sphere and to give creators on those platforms the means to monetize.

We believe that Vocal is well positioned

between the content creation tools and the various distribution channels that creators depend on to publish and amplify their

Vocal employs a number of strategies

to collect first-party data around our users’

behavioral activity on the platform.

The data is processed and analyzed by

our internal business intelligence team with the goal of improving our product, services and users’

Vocal’s

growth and marketing strategies make use of these first-party data insights, resulting in a lower creator acquisition cost and

reduced subscription churn when targeting third-party networks, such as the big social media platforms.

Importantly, we do not

sell our users’

We utilize data to optimize the success of our creators, and generate revenue when our creators

monetize their content and brands reach the right audience.

Additionally, unlike traditional publishing platforms, we do not charge

the audience for consuming content.

User Demographics:

of Vocal’s creators and audience are 18-34 years old.

split of gender is relatively balanced;

55% of Vocal users are female and 45% are male.

United States represents 57% of Vocal’s traffic, and an additional 20% of traffic

is split between the United Kingdom, Canada, and Australia.

As a mobile-first

platform, 75% of users access Vocal from a mobile device.

are 34 active communities on the Vocal platform, with genres ranging from health and

wellness, beauty, and mental health, to food, politics, pop culture, and more.

Vocal’s Value for Creators:

Vocal is a proprietary technology

platform, built to expand its digital audience through content distribution while providing an environment for creators to

be rewarded for their content.

We believe that digital audiences have become increasingly wary of traditional display and

programmatic advertising tactics–intrusive ads like pop-ups that disrupt the consumer experience.

The Company is therefore

focused on building a network of user generated content communities that emphasize discovery, creator monetization, and non-interruptive

branded storytelling.

In response to what

we recognize as the growing shift away from interruptive ads, brand marketing teams actively seek partners like Vocal, that

can deliver key performance metrics in an authentic and safe network.

By utilizing Vocal’s first-party behavioral

data, we can effectively pair content creators with the right brands to produce predictive strategies and successful

non-interruptive marketing campaigns.

Trust and safety are paramount to the Vocal ecosystem.

follow best practices when handling personally identifiable information, with guidance from the European Union’s General

Data Protection Regulation (GDPR), the California Consumer Privacy Act (CCPA), and the Digital Millennium Copyright Act (DMCA).

Compliance Policies include:

technology assisted moderation of every story submitted;

detection of hate speech, nudity, and copyright infringement;

creator, and audience safety enforced through community watch;

The rejection of what we consider toxic content, with the understanding that diverse opinions are encouraged.

Stories Published

Based on our internal data collected over the last four months,

there has been a steady increase in creators who are publishing on our platform, which we believe is a result of the introduction

of features like Challenges, which further incentivize content submissions and improve the moderation feedback loop.

1 - # of Users who Published

Creator Acquisition Cost

As we continue to collect platform data, we are able to further

refine our ideal user profile and hone our targeting strategies, such that the Creator Acquisition Cost (CAC) for both

‘Vocal Free’

unpaid membership) and Vocal+ (i.e.

paid premium membership) naturally declines over time.

spent over three years executing marketing campaigns to attract Vocal Free users, and refining our strategy,

the CAC for Vocal+ subscribers experienced an immediate decline;

costs dropped from over $1,100 to approximately $200 in the first

4 months following the launch of Vocal+.

Meanwhile, the CAC for Vocal Free creators followed a similarly sharp rate of

reduction, dropping from approximately $4.50 down to $2.00 in this same time frame.

2 - Vocal+ Creator Acquisition Cost (CAC)

3 - Vocal Free Creator Acquisition Cost (CAC)

Digital Landscape and Industry

From 2006 through 2016,

the online and digital content industry experienced rapid growth.

This era resulted in various technology companies within

the digital space expanding into some of the largest and most influential companies in the United States and around the

Even with today’s market dislocation, many of these technology companies remain the industry leaders that will solve

for a new era of social distancing.

During this same period

of time, countless digital publishing platforms and tools were introduced that enabled creators and their audiences to create,

share, and connect.

However, hyper-growth in this sector eventually introduced a new series of problems.

largest issue was that the first wave of media publishing platforms and digital communities were reliant on a single line of revenue:

traditional intrusive advertising.

these companies scaled, so did their costs of operations, which eventually compelled them not only to compromise the integrity

of their relationship to users, but to bombard audiences with invasive ads and use some aggressive marketing tactics in order

to generate revenues and stay solvent.

An intrusive user experience is not a sustainable model.

Ad technology began experiencing

rapidly declining margins and tended to require excessive traffic in order to monetize.

Digital content and media asset

values have deteriorated rapidly between 2016 and 2018.

This compression of margins has, in recent years, led

to massive layoffs at those media publishing companies that were dependent on this legacy form of advertising.

There is a continued

risk of future markdowns in potential asset valuations.

designing Vocal, the Jerrick team focused on building a network of communities on a singular platform that would help people discover

real stories, from authentic creators.

Vocal provides for its users’

needs by always innovating and introducing new features

based on two core principles:

that creators and brands are our partners, and that we make money when our partners make money.

the face of this radical disruption in the digital marketing landscape, content distribution is undergoing a significant

to Statista, every 60 seconds on the internet:

videos are viewed on YouTube

posts are published on WordPress

posts are viewed on Instagram

tweets are sent on Twitter

Further, content monetization has become increasingly

oriented toward native and creator-based fees.

Facebook, Google, and Amazon already capture nearly 70% of digital ad spending,

with that number projected to increase (Source:

With these changes, and in light of more recent developments

the shift toward remote workforces, the popularization of freelancing, and social distancing recommendations –

we believe that digital content creation is at an all-time high.

Additionally, we believe that this new

era will see these statistics grow rapidly in this new environment of exponentially increasing online activity, resulting in an

evaluation of how to support the creation of digital content for creators, readers and audiences.

the same time, branded content (a form of native advertising) is on the rise, and experiencing continuing growth year-over-year.

to data from Pressboard:

find branded content 22x more engaging than display advertising;

spend 2x more money when they feel a personal connection with a brand;

content results in a 60% higher brand recall than other digital advertising ;

● Native advertising spend is projected to exceed $400 billion

Thus, we believe that brands

are actively seeking trustworthy and safe platforms like Vocal to drive engagement through non-interruptive brand storytelling,

and deliver key performance metrics that help optimize their marketing efforts.

We also believe that our Vocal platform provides

a needed alternative for creators to participate within a community-first environment and access sustainable revenue

We built Vocal on these transparent core values, which continue to inform how we work with creators, readers, brands,

and partners.

Jerrick was founded in 2014 by CEO Jeremy

Frommer and became publicly listed in February 2016, at which point the Company was renamed Jerrick Media Holdings, Inc.

began working with its Australia-based development partners, Thinkmill, in early 2014 to begin building its flagship product.

The Vocal technology platform was released to the public in December 2016 with six niche communities in its network and a small

group of beta creators.

late 2018, we introduced our in-house creative studio, Vocal for Brands, which partners with direct-to-consumer (DTC) brands to

create engaging and campaign-optimized stories on Vocal that build brand affinity and trust, and drive results

2019 was marked by a series of important

milestones for the Company.

First, in July 2019, the Vocal+ premium membership offering was introduced on the Vocal platform.

was followed by the completion of our acquisition and integration of boutique e-commerce marketing agency, Seller’s Choice,

in September 2019.

Earlier that year, we successfully tendered for the majority of Jerrick’s outstanding warrants, exchanging

over 90% of outstanding warrants for common stock.

In January 2020, Vocal’s product team launched the latest

feature for creators and brands, called “Creator Challenges.”

Challenges (which are either internally run or sponsored

by brands) are themed story contests that incentivize content submissions and engage Vocal’s user base by providing creators

with the chance to win cash prizes and other rewards.

The introduction of creator Challenges, which represents Vocal’s most

important product update to date, showcases Jerrick’s unique ability to leverage its powerful network to host unique content

experiences that drive success and value for brands, creators, and audiences simultaneously.

Moreover, creator Challenges are accretive

to Jerrick’s own marketing efforts;

Challenges offer further incentivize for new creators to join Vocal and, in particular,

to upgrade to Vocal+ (which offers members-only Challenges).

As a result, since the launch of creator Challenges, we’ve seen

our creator acquisition costs decrease over time.

The idea for Vocal came as a response

to what Jerrick’s founders recognized as systemic flaws inherent to the digital media industry and its operational infrastructures.

Depreciating value of digital media business models built on legacy technology platforms created a unique opportunity for development

of a creator-centric platform that could appeal to a global community and, at the same time, be capable of acquiring undervalued

complimentary technology assets.

Jerrick founders built the Vocal platform

upon the general thesis that a closed and safe ecosystem utilizing first-party data to increase efficiencies could create a sustainable

and defensible business model.

Vocal was strategically developed to provide value for content creators, readers, and brands, and

to serve as a home for the ever-increasing amount of digital content being produced and the libraries of digital assets lying dormant.

Since 2016, the ‘creator era,’

the industry has been marked by the proliferation of democratized and transparent platforms.

The digital space now encompasses

an online global audience of over 4.5 billion internet users and over 1.7 billion websites.

The “read, write and execute”

web, or Web 3.0, is a data-driven and more intelligent web that can adjust its output according to the particular needs and habits

of the individual user, fostering more intelligent creation, greater personalization and,

ultimately, a more satisfied end user.

In this context, legacy sites and platforms

are becoming increasingly threatened by factors like fragmented content creation tools, excessive traffic and marketing dollars

required to monetize content, and compressing margins for traditional digital advertising.

This has led to a qualitative deterioration

of online content.

In addition, it means that companies operating on these models will continue to struggle with limited paths

to scalable profitability.

There is limited competition that provides

the specific type of resources and platform that Vocal provides the creative community.

In addition, there are a limited number

of digital media companies like Vocal that charge only creators and brands for publishing content, as opposed to charging the

audience for accessing content.

Jerrick’s management team believes that the primary competition for Vocal are other platforms

that can draw attention or time from the creative community in general.

These platforms can vary in scope, size, and genre.

put, platforms compete for the attention of the digital consumer.

Vocal’s

Competitive Strengths

platforms must differentiate themselves by providing executable solutions and fulfilling users’

empirical needs.

on rewarding the creator for their content, partnering with them on distribution, and providing opportunities for monetization,

is one of the key differentiating factors between Vocal and legacy publishing platforms.

Vocal’s proprietary technology is built on Keystone, the same underlying open-source framework used by industry-leaders such as Atlassian, a $30-billion Australian technology company.

Some of the key differentiating elements of Vocal’s technology are speed, sustainability, and scalability.

The Company continues to invest heavily in research and development to continuously improve and innovate its platform, with the goal of optimizing the user experience for creators.

Vocal’s architecture allows it to do more with less cost, and provides a model capable of turning a profit.

We believe that Vocal’s built-in risk management and compliance features are another one of the platform’s key strengths.

Quality assurance policies enhance the reliability and integrity of the platform and ensure regulatory compliance, which fosters a trustworthy and safe environment for all of its stakeholders.

Further, Vocal utilizes third-party cloud-based services to host its platform, which affords the platform an important advantage;

management can focus on running and scaling its services, rather than building unnecessary infrastructure.

Vocal’s synthesis of democratization and monetization for its content and creators is unique in the industry.

Creators, influencers, and entrepreneurs seek a trustworthy platform that offers needed resources to expand their brand and reach.

At the same time, brands seek a safe and reliable platform with which to engage with customers, drive conversions, and build brand awareness.

Vocal’s ecosystem works to drive success simultaneously for all of its stakeholders.

Product Revenues

continually expanding network of approximately 565,000 content creators using the Vocal platform drives our primary source of

Quality content submissions from creators attracts audiences and brands, the other primary stakeholders who exist within

Vocal’s ecosystem.

The continuous interactions between creators, audiences, and brands propel a virtuous cycle of transactions

and represents an important element of Vocal’s scale and success.

The Company has

designed several revenue touch-points throughout the Vocal ecosystem, ensuring a balanced portfolio of revenue streams, sustainable

infrastructures, and compounding scalability.

Revenues are primarily generated through:

Creator Subscriptions:

Vocal+ is a premium subscription membership for Vocal users.

Vocal+ members pay a membership fee for premium features, including receiving increased earnings for their content, reduced platform

processing fees for tips received, a Vocal+ badge on their creator page, access to additional features on the Vocal Platform,

and participation in exclusive programs.

Creators may sign up for a Vocal+ membership when they create an account, or they can

upgrade an existing Vocal Free account to a Vocal+ account at any time.

The current cost of a Vocal+ membership is either $9.99

per month or $99 annually.

Brand Agency:

Our in-house creative studio, Vocal for

Brands, focuses on non-interruption based advertising and engaging brand storytelling.

Vocal for Brands pairs brands with active

creators in the Vocal network to produce bespoke branded content campaigns, brand-sponsored creator Challenges, and other types

of branded experiences on the Vocal platform that build brand engagement, trust, and drive results.

With the introduction of Challenges,

brands can tap into Vocal’s network of approximately 565,000 content creators and encourage them to interact with, learn about

and promote their brand while benefiting from Vocal’s brand-safe, moderated, and curated environment.

Brand-sponsored Challenges

effectively yield a collection of crowdsourced branded content for brands and help them reach a wider audience.

Vocal’s first-party data enables our team to create highly

targeted and segmented audiences for Vocal for Brands campaigns, and help the brand reach their ideal audience.

Brands can access

story performance data, engagement data, behavioral data, and sentiment data, all of which is used to further optimize the campaign’s

Fees range from $5,000 to $45,000 for bespoke Vocal for Brands campaigns, depending on duration and other key factors.

Marketing + Consulting Services :

Seller’s

Choice, LLC (“Seller’s Choice”), which we acquired in September 2019, is a digital marketing solution provider

dedicated to the interests, growth, and profitability of e-commerce brands.

Utilizing their integrative next-gen marketing

platform, Seller’s Choice focuses cohesively in the four key factors of online sellers –

sell-through, differentiation,

community and compliance –

to help e-commerce businesses establish their brand identity and realize profitable and sustainable

growth while maximizing customer engagement and retention.

Through Jerrick’s acquisition of Seller’s Choice, the Company has further

expanded its reach into the direct-to-consumer marketplace, while enabling Seller’s Choice’s clientele to leverage

Vocal for Brand’s unique brand storytelling capabilities.

Platform Processing Fees and Microtransactions:

Creators and their audiences have

the ability to send and receive tips, or microtransactions, on Vocal.

Each tip sent on Vocal generates revenue for the Company

in the form of platform processing fees.

For Vocal Free creators, we retain a 7% platform processing fee for every tip exchanged.

For Vocal+ creators, we retain a 2.9% platform processing fee.

We use the Stripe platform to process

tips and payouts to creators on Vocal.

Additional features such as gated premium content, recurring tips, affiliate marketing

features for brands, and incentivization fees for new creator referrals are currently in development.

Affiliate sales:

We also generate revenue through our

affiliate marketing relationships, which pay us a percentage of purchases made on our platform.

Affiliate partnerships include

Amazon, Skimlinks, Tune, and more.

Our e-commerce strategy involves revitalizing archival imagery

and media content in dormant legacy portfolios.

Our curation and data capabilities have helped us create scalable and definable

value for our internal collection of media assets through financing, trademarking, licensing, and production opportunities.

Growth Strategy

We intend to continue

to grow by focusing on the following key areas:

Moderation Improvements:

Constant analysis and improvement to Vocal’s moderation process enables us to reduce manpower costs and maintain a brand-safe environment.

Vocal’s genre-specific community structure, which evolves based on usage data, provides brands with a more transparent and targeted community for their product.

Creator Growth:

Vocal brings new creators, their audience, and brands to its platform through organic growth, performance marketing, and brand-building campaigns that drive awareness.

As the Vocal team continues to collect first-party behavioral data, we are able to further refine an ideal user profile and hone a specific targeting strategy to effectively scale the platform’s creator base.

We believe the CAC (Creator Acquisition Cost) for both the Vocal Free (i.e.

unpaid membership) and Vocal+ (paid premium membership) offerings will naturally decline over time by matching our internal data against third-party data.

Brand Partnerships:

We intend to continue to invest in new product offerings for brand storytelling on Vocal that provide valuable analytics, engagement, and conversion data.

Products and services offered on the platform are constantly evolving to elevate brand relationships, both qualitatively and quantitatively.

Platform Enhancements:

We intend to continue to invest in research and development and explore strategic acquisitions in order to enhance our product capabilities and evolve our network of communities.

With features such as Challenges, Tipping, and premium subscriptions, we believe that Vocal is consistently innovating to provide new and creative ways to expand the creator platform, and maximize both the Company’s revenues and creators’

Further, our strategic partnership with Thinkmill affords us an additional benefit in the Australian government’s research and development tax incentive program, which offers a rebate on 40% of funds spent on technology research and development within each fiscal year.

White Label Opportunities:

We intend to pursue opportunities to white-label Vocal’s underlying platform architecture for application in a range of industries.

The platform’s underlying technology can be utilized by sports franchises, trade companies, education organizations, the financial sector, and beyond.

New Geographies:

Global expansion is fundamental to our growth strategy.

While the U.S., U.K., and Canada represent the vast majority of our audience, we believe there will be significant demand for our product in overseas markets–including Asia, the Middle East, and South America–particularly for foreign language installations of the product.

Acquisitions:

Our acquisition of Seller’s Choice in September 2019 successfully expanded our brand product offering and client network.

Future acquisition targets include creator platforms, content communities, data science companies, and digital marketing agencies.

In collaboration with other production and media companies, as well as with our expanding user base, we look for content that can be leveraged for adaptation to film, television, digital shorts, books, and comic series.

We believe that Vocal’s ever-expanding community of creators and influencers affords us with the unique opportunity to cultivate these relationships.

There are three primary categories

of stakeholders/customers that interact within Vocal’s ecosystem:

creators, brands, and readers.

Vocal provides

a large stage for creators and artists to connect with fans and find new audiences.

In addition to enabling access to millions

of monthly visitors, we provide creators with a full suite of tools and services for content creation, discovery, distribution,

and monetization, including:

Easy-to use, rich media content editor:

Vocal’s content editor allows creators to easily add their rich media to their stories.

From Spotify songs to Shopify products, Vocal’s open canvas content creation editor makes it easy to create high-quality and engaging stories, and is a cost effective alternative to managing a blog content management system (CMS).

Ability to Monetize :

Both Vocal Free and Vocal+ memberships provide multiple monetization opportunities for creators.

Creators can earn money through visitor engagement as well as from tips received from visitors (less the payment processing fee).

For Vocal Free members, content is monetized at a rate of $3.80 per 1,000 reads (calculated based on time on page, scrolling behavior, and other internal metrics), whereas Vocal+ members monetize at $6.00 per 1,000 reads.

Designed for SEO:

Creators benefit from the search engine optimization (SEO) inherent to Vocal’s architecture, and the volume of organic traffic the platform receives as a result.

When creators amplify their content through their own social media channels, the optimization is further enhanced.

Creators can get more views and greater discoverability by publishing content on Vocal as opposed to other sites geared toward short form content, which have limited search capabilities and discovery tools, as well as limited opportunities for content monetization.

Transparent Performance Data :

Creators can view their “Stats”

at any time to view their individual performance data, such as how many Reads a given story received, how much money they have earned, and how many tips or ‘Likes’

they received.

Valuable Audience:

The nature of Vocal’s genre-specific community structure is such that it generates a positively selected audience, a quality which makes Vocal an attractive prospect for creators and brands alike.

In a topic-based community, audiences are inherently more likely to be interested in the particular content housed in that community.

Vocal for Brands leverages Vocal to produce branded stories

and Challenges that build affinity and trust, while generating sales and awareness.

The key value propositions for brands include:

Authentic Storytelling:

Our internal data group partners brands with real Vocal creators to tell their brand’s story in a way that is both engaging and trustworthy.

Valuable Audience:

Jerrick’s first-party data provides an opportunity to create highly targeted and segmented audiences to promote branded content.

Most importantly, Vocal’s technology helps brands target the right audience by utilizing and applying that first-party data.

Transparent Analytics:

For every campaign we produce, our brand clients have access to story performance data, engagement data, behavioral data, and interest data.

Brands can apply this data to further increase awareness and optimize audience targeting.

We are focused on enabling the discovery and curation of stories

for our readers through a range of products and services:

benefit from our ability to help them safely navigate our network of communities.

Every story published on Vocal is run through

our proprietary moderation system, which synthesizes machine learning and human-touch curation.

Readers know that every story

on Vocal complies with our Community Guidelines, which ensures a safe environment for creators, brands, and readers alike.

Readers have the option to “Like”

their favorite stories, allowing them to interact directly with the creator, while providing the Vocal team with insights into their interests and behavior.

Our data science team uses this data to create segmented audiences to optimize content discovery.

Simply put, Vocal helps readers find stories personalized to their interests.

We provide readers with the opportunity

to send Tips to creators to show their support and appreciation.

Tips have a frictionless and secure user-experience, allowing

readers to pay with digital wallets such as Apple Pay and Google Pay.

Corporate Information

originally incorporated under the laws of the State of Nevada on December 30, 1999 under the name LILM, Inc.

The Company changed

its name on December 3, 2013 to Great Plains Holdings, Inc.

5, 2016 (the “Merger Closing Date”), we entered into an Agreement and Plan of Merger (the “Merger Agreement”)

with GPH Merger Sub, Inc., a Nevada corporation and our wholly-owned subsidiary (“Merger Sub”), and Jerrick Ventures,

Inc., a privately-held Nevada corporation headquartered in New Jersey (“Jerrick”), pursuant to which the Merger Sub

was merged with and into Jerrick, with Jerrick surviving as our wholly-owned subsidiary (the “Merger”).

the terms of the Merger Agreement, we acquired, through a reverse triangular merger, all of the outstanding capital stock of Jerrick

in exchange for issuing Jerrick’s shareholders (the “Jerrick Shareholders”), pro-rata, a total of 28,500,000

shares of our common stock.

Additionally, we assumed 33,415 shares of Jerrick’s Series A Convertible Preferred Stock (the

“Jerrick Series A Preferred”) and 8,064 shares of Series B Convertible Preferred Stock (the “Jerrick Series B

Preferred”).

Upon closing of

the Merger on February 5, 2016, the Company changed its business plan to our current plan.

In connection

with the Merger, on the Merger Closing Date, we entered into a Spin-Off Agreement with Kent Campbell (the “Spin-Off Agreement”),

pursuant to which Mr.

Campbell purchased (i) all of our interest in Ashland Holdings, LLC, a Florida limited liability company,

and (ii) all of our interest in Lil Marc, Inc., a Utah corporation, in exchange for the cancellation of 781,818 shares of our

common stock held by Mr.

In addition, Mr.

Campbell assumed all debts, obligations and liabilities of

GTPH, including any existing prior to the Merger, pursuant to the terms and conditions of the Spin-Off Agreement.

Effective February 28, 2016, GTPH entered

into an Agreement and Plan of Merger (the “Statutory Merger Agreement”) with Jerrick, pursuant to which GTPH became

the parent company of Jerrick Ventures, LLC, a wholly-owned operating subsidiary of Jerrick (the “Statutory Merger”).

Upon closing of the Merger on February

5, 2016, the Company changed its business plan to that of Jerrick Media.

On February 28, 2016, GTPH changed its

name to Jerrick Media Holdings, Inc.

to better reflect its new business strategy.

Jerrick is a technology company focused

on the development of digital communities, marketing of branded digital content, and e-commerce opportunities relative to particular

Jerrick’s flagship product is Vocal, a proprietary digital publishing platform, that enables creators of long

form content and rich media to reach an engaged audience through a growing portfolio of genre-specific branded websites.

Through Vocal and other associated social media channels and outlets, we produce and distribute a variety

of digital media content.

The content for each branded community in our portfolio and for distribution through other media channels,

is derived from internal generation, user contributions, and external collaborations.

The content includes, but is not limited

videos, imagery, articles, e-books, film, and television projects.

Revenue is generated in a variety of ways, including:

the sale of native advertising and marketing services related to our content, including but not limited to branded content campaigns

and affiliate marketing;

(ii) marketing and branding consulting;

(iii) affiliate sales;

(iv) platform processing fees;

sale of genre-specific products related to our brands and, licensing of our content for download-to-own services;

and (vi) royalties

and production fees for original content, created for either film, television, or digital end-markets.

Demand and pricing for our

advertising depends on our user base and overall market conditions.

We also drive additional demand through integrated sales of

digital advertising inventory, through our marketing services, and by providing unique branded entertainment and custom sponsorship

opportunities to our advertisers.

Our advertising and e-commerce revenues may be affected by the strength of advertising markets

and general economic conditions and may fluctuate depending on the success of our content, as measured by the number of people

visiting our websites at any given time.

We developed the Vocal platform, designed

to develop and cost-effectively engage content creators, to enable them to reach their audience and monetize their content.

addition to providing relevant content, our technology is centered on efficiency and scalability, through a growing variety of

topics, and output through a growing number of distribution methods.

We believe our content-to-commerce model

is an integral part of digital monetization.

We focus on distribution of content through the Vocal platform that optimizes user-generated

content through an algorithmically derived moderation process.

Through the moderation process, we reduce manpower costs, and simultaneously

increase our ability to publish content and rapidly produce genre-specific websites driven by usage data.

Through these genre-specific

websites, we are able to provide advertisers with a more transparent and targeted community for their brands, which we believe

offers a very high value proposition.

The Vocal platform and its proprietary technology can be white-labeled or licensed, to provide

seamless integration to independent media companies and brands.

We also use the Vocal platform for distribution and monetization

of a substantial inventory of content featuring unpublished photographs, negatives, trademarks, videos, scripts, short stories,

and articles across various genres.

We believe we have a competitive advantage in the ownership of merchandising rights of such

content which allows us to sell or license these properties.

As part of our strategy, we develop transmedia

assets internally, in collaboration with other production and media companies, as well as with our expanding user base.

The transmedia

assets we produce, such as film, television, digital shorts, books, and comic series can be leveraged beyond digital media and

can be distributed across multiple platforms and formats.

Our Website Communities

We developed genre-specific websites, designed

to create self-sustaining communities, with each revolving around a specific topic or theme.

The creation of these websites is

driven by two factors:

(i) the potential for monetization opportunities, and (ii) by the topical content provided by our users.

Intellectual Property

We regard our technology and other proprietary

rights as essential to our business.

We rely on trade secrets, confidentiality procedures, contract provisions, and trademark law

to protect our technology and intellectual property.

We also license technology from third parties.

We have also entered into confidentiality

agreements with our consultants and corporate partners and intend to control access to and distribution of our products, documentation,

and other proprietary information.

Protecting our Content from Copyright

The theft of pictures, video and other

entertainment content presents a significant challenge to our industry, and we take many steps to address this concern.

Where possible,

we make use of technological protection tools, such as encryption, to protect our content.

Notwithstanding these efforts and the

many legal protections that exist to combat piracy, the proliferation of content theft and technological tools with which to carry

it out continue to escalate.

The failure to obtain enhanced legal protections and enforcement tools could make it more difficult

for us to adequately protect our intellectual property, which could negatively impact its value.

We face competition in a number of aspects

of our business, and particularly from other companies that seek to connect people with information on the web similar to ours,

and provide them with relevant advertising.

We believe we have a competitive advantage due to the underlying designs and processes

of our platform Vocal.

Competitive factors include community cohesion, interaction and size, website or mobile platform and application

ease-of-use and accessibility, user engagement, system reliability, reliability of delivery and payment, and quality of content.

Some current and potential competitors

have longer operating histories, larger user bases and greater brand recognition in their respective internet sectors than we do.

Other online sites with similar business models may be acquired by, receive investments from, or enter into other commercial relationships

with well-established and well-financed companies.

As a result, some of our competitors with other revenue sources may be able

to devote more resources to marketing and promotional campaigns, adopt more aggressive pricing policies and devote more resources

to website, mobile platforms and applications and systems development than we can.

We also compete with destination websites

that seek to increase their search-related traffic.

These destination websites may include those operated by internet access providers,

such as cable and DSL service providers.

Because our users need to access our services through internet access providers, they

have direct relationships with these providers.

If an access provider or a computer or computing device manufacturer offers online

services that compete with ours, the user may find it more convenient to use the services of the access provider or manufacturer.

In addition, the access provider or manufacturer may make it hard to access our services by not listing them in the access provider’s

or manufacturer’s own menu of offerings.

Also, because the access provider gathers information from the user in connection

with the establishment of a billing relationship, the access provider may be more effective than we are in tailoring services and

advertisements to the specific tastes of the user.

There has been a trend toward industry

consolidation among our competitor, and so smaller competitors today may become larger competitors in the future.

If our competitors

are more successful than we are at generating traffic, our revenues may decline.

As of April 1, 2019, we had 24 full-time

employees, and 1 full-time contractors.

None of our employees are subject to a collective bargaining agreement, and we believe

that our relationship with our employees is good.

Description of Property

As of June 4, 2018, our corporate headquarters

which houses operations and support personnel, is located at 2050 Center Ave, Suite 640, Fort Lee NJ 07024, an office consisting

of a total of 2,300 square feet.

The current lease term is effective June 5, 2018 through July 5, 2023, with monthly rent of $5,612

for the first year and increases at a rate of 3% for each subsequent year thereafter.

Where You Can Find More Information

Our corporate website address is located

at https://jerrick.media/ .

We do not intend our website address to be an active link or to otherwise incorporate by reference

the contents of the website into this Report.

The public may read and copy any materials the Company files with the U.S.

and Exchange Commission (the “SEC”) at the SEC’s Public Reference Room at 100 F Street, NE, Washington, DC 20549.

The public may obtain information on the operation of the Public Reference Room by calling the SEC at 1-800-SEC-0030.

maintains an Internet website (http://www.sec.gov) that contains reports, proxy and information statements and other information

regarding issuers that file electronically with the SEC.

Campbell assumed all of our debts, obligations and liabilities, including

any existing prior to the Merger, pursuant to the terms and conditions of the Spin-Off Agreement.

Effective February 28, 2016,

we entered into an Agreement and Plan of Merger (the “Statutory Merger Agreement”), pursuant to which we became the

parent company of Jerrick Ventures, LLC, our wholly-owned operating subsidiary (the “Statutory Merger”).

Finally, on February 28, 2016, we changed

our name to Jerrick Media Holdings, Inc.

to better reflect our new business strategy.

Our corporate headquarters are located

at 2050 Center Ave, Suite 640, Fort Lee, NJ 07024.

As of March 30, 2020, we had 25 full-time employees.

We consider our relation

with our employees to be good.

Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.

What changed 10-K

Item 1. Business