Crowd Media Holdings Limited announced it has extended its agreement with media search company SrcFlare after successfully delivering a Talking Head Proof of Concept which: Generated more than USD 100,000 revenue for Crowd Media in 3 months, Validated the application of conversational AI to reduce online lead generation costs, Extended the agreement with SrcFlare with expectations of material revenue growth. As announced on 17 May 2022, Crowd Media and SrcFlare entered a binding Heads of Agreement to integrate Crowd's technology into SrcFlare's marketing platform to optimize customer acquisition funnels and lead generation. The 3 month Proof of Concept resulted in USD 101,958 generated for Crowd Media over the period.

Utilized in limited capacity across a smaller sample of SrcFlare clients, Crowd Media and SrcFlare have validated a mutual belief that there is a larger revenue opportunity in the media search space by upscaling the POC and applying conversational AI in higher volumes. As an extension of the current agreement, Crowd Media and SrcFlare have entered into a new binding HOA where the two companies will extend the POC for a further 3 months with increased budget guidelines, These revised terms will increase the budget allocation applied by SrcFlare towards the POC in its application of customer acquisition and online lead generation. To accommodate the increased volume of traffic under the HOA extension, the licensing fee payable to Crowd Media will increase to USD 55,000 for 3 months ending 30 November 2022.

Under the same terms as the previously signed HOA, it will include a non-exclusive and non-sublicensable licensing fee for access to Crowd's Talking Head platform, as well as ongoing service operation and support.