MGT Capital Comments on Showtime Film

Sep 12, 2016, 14:31 ET

HARRISON, N.Y., Sept. 12, 2016 /PRNewswire/ -- The Board of Directors of MGT Capital Investments, Inc. (NYSE MKT: MGT) released the following statement today in response to inquiries:

While the general corporate policy of MGT is to not comment on the innuendo and ravings posted online by enemies of our Chairman John McAfee, the Company will make an exception today due to the involvement of a major Fortune 500 company. Showtime Networks, Inc., a division of the major broadcaster CBS, owner of a distinguished and trusted news organization, yesterday released a purported documentary on the life of Mr. McAfee. The Board believes the piece is purposefully misleading to its audience, and is merely a continuation of the biased tactics used by producer Jeff Wise against Mr. McAfee for several years. The Company is investigating potential willful damages inflicted upon MGT with particular emphasis on Mr. Wise's statements intended to possibly manipulate the Company's stock price in violation of SEC Regulation M.

"The motivations behind this production are evident to anyone familiar with my relationship to its executive producer, Jeff Wise. Mr. Wise has tried to craft a career based on an apparently deep-seated hatred he harbors against me, as catalogued by the numerous misleading articles he has written over the past six years. Mr. Wise uses colorful language, skillful editing techniques, and manufactured and out-of-context quotes to paint a fictional storyline that leads his readers and viewers to mistaken conclusions. The documented facts cannot support his conclusion, so he must resort to distortion and innuendo," stated Mr. McAfee.

"Over the past couple of years I have rebuilt my reputation. This comeback seems to infuriate those that have worked so hard against me, and has resulted in this latest hateful piece of fiction," concluded Mr. McAfee.

Robert Ladd, President of MGT, stated, "The Board and I fully stand behind John and his vision to create an innovative cybersecurity company. We believe that the media's attacks on his character are unwarranted and are the result of allegations long proven to be baseless. Our focus, and the focus of Mr. McAfee, continues to be on the creation of innovative and disruptive solutions to the problems of security and privacy."

The Company and Mr. McAfee have offered a detailed and fully documented account of Mr. Wise's coverage over the years in a letter published on its website.

About MGT Capital Investments, Inc.
MGT Capital Investments, Inc. (NYSE MKT: MGT) is in the process of acquiring a diverse portfolio of cyber security technologies. With cyber security industry pioneer, John McAfee, at its helm, MGT Capital is positioned to address various cyber threats through advanced protection technologies for mobile and personal tech devices, including tablets and smart phones. The Company is currently in the process of acquiring D-Vasive, a provider of leading edge anti-spy software, and Demonsaw, a provider of a secure and anonymous file sharing software platform.

MGT Capital intends to change its corporate name to "John McAfee Global Technologies, Inc." upon closing of the D-Vasive transaction.

For more information on the Company, please visit

Forward–looking Statements
This press release contains forward–looking statements. The words or phrases "would be," "will allow," "intends to," "will likely result," "are expected to," "will continue," "is anticipated," "estimate," "project," or similar expressions are intended to identify "forward–looking statements." MGT's financial and operational results reflected above should not be construed by any means as representative of the current or future value of its common stock. All information set forth in this news release, except historical and factual information, represents forward–looking statements. This includes all statements about the Company's plans, beliefs, estimates and expectations. These statements are based on current estimates and projections, which involve certain risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements. These risks and uncertainties include issues related to: rapidly changing technology and evolving standards in the industries in which the Company and its subsidiaries operate; the ability to obtain sufficient funding to continue operations, maintain adequate cash flow, profitably exploit new business, license and sign new agreements; the unpredictable nature of consumer preferences; and other factors set forth in the Company's most recently filed annual report and registration statement. Readers are cautioned not to place undue reliance on these forward–looking statements, which reflect management's analysis only as of the date hereof. The Company undertakes no obligation to publicly revise these forward–looking statements to reflect events or circumstances that arise after the date hereof. Readers should carefully review the risks and uncertainties described in other documents that the Company files from time to time with the U.S. Securities and Exchange Commission.

Investor Contact 
Garth Russell
Managing Director
KCSA Strategic Communications

Grace Livingston
Director of Investor Relations
MGT Capital

Media Contact
Tiffany Madison
Director of Corporate Communications
MGT Capital Investments, Inc.

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SOURCE MGT Capital Investments, Inc.

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