<SEC-DOCUMENT>0001213900-20-018423.txt : 20200723
<SEC-HEADER>0001213900-20-018423.hdr.sgml : 20200723
<ACCEPTANCE-DATETIME>20200723170305
ACCESSION NUMBER:		0001213900-20-018423
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		3
CONFORMED PERIOD OF REPORT:	20200723
ITEM INFORMATION:		Completion of Acquisition or Disposition of Assets
ITEM INFORMATION:		Regulation FD Disclosure
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20200723
DATE AS OF CHANGE:		20200723

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			PALTALK, INC.
		CENTRAL INDEX KEY:			0001355839
		STANDARD INDUSTRIAL CLASSIFICATION:	SERVICES-BUSINESS SERVICES, NEC [7389]
		IRS NUMBER:				203191847
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-38717
		FILM NUMBER:		201044212

	BUSINESS ADDRESS:	
		STREET 1:		30 JERICHO EXECUTIVE PLAZA
		STREET 2:		SUITE 400E
		CITY:			JERICHO
		STATE:			NY
		ZIP:			11753
		BUSINESS PHONE:		(212) 594-5050

	MAIL ADDRESS:	
		STREET 1:		30 JERICHO EXECUTIVE PLAZA
		STREET 2:		SUITE 400E
		CITY:			JERICHO
		STATE:			NY
		ZIP:			11753

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	PeerStream, Inc.
		DATE OF NAME CHANGE:	20180312

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	Snap Interactive, Inc
		DATE OF NAME CHANGE:	20071121

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	eTwine Holdings, Inc
		DATE OF NAME CHANGE:	20060310
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>ea124422-8k_paltalk.htm
<DESCRIPTION>CURRENT REPORT
<TEXT>
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<!-- Field: Rule-Page --><DIV STYLE="margin-top: 0; margin-bottom: 0; width: 100%"><DIV STYLE="font-size: 1pt; border-top: Black 2pt solid; border-bottom: Black 1pt solid">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

<P STYLE="margin: 0">&nbsp;&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">UNITED STATES</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">SECURITIES AND EXCHANGE COMMISSION</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Washington, D.C. 20549</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

<!-- Field: Rule-Page --><DIV STYLE="margin: 0 auto; width: 25%"><DIV STYLE="font-size: 1pt; border-top: Black 1.5pt solid">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">FORM 8-K</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>CURRENT REPORT</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Pursuant to Section 13 or 15(d) of the</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Securities Exchange Act of 1934</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Date of Report (Date of earliest event
reported): <B>July 23, 2020</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1.5pt solid; width: 100%; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 10pt; text-align: center"><FONT STYLE="font-size: 10pt"><B>PALTALK,
    INC.</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-top: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 10pt; text-align: center"><FONT STYLE="font-size: 10pt">(Exact
    name of registrant as specified in its charter)</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: Black 1.5pt solid; width: 33%; font-weight: bold; text-align: center; padding-left: 5.4pt">Delaware</TD><TD STYLE="padding-bottom: 1.5pt; width: 1%; font-weight: bold">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; width: 33%; font-weight: bold; text-align: center; padding-left: 5.4pt">000-52176</TD><TD STYLE="padding-bottom: 1.5pt; width: 1%; font-weight: bold">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; width: 32%; font-weight: bold; text-align: center; padding-left: 5.4pt">20-3191847</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: center; padding-left: 5.4pt">(State or other jurisdiction of</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center; padding-left: 5.4pt">(Commission File Number)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center; padding-left: 5.4pt">(IRS Employer</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: center; padding-left: 5.4pt">incorporation)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center; padding-left: 5.4pt">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center; padding-left: 5.4pt">Identification No.)</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: Black 1.5pt solid; width: 50%; text-align: center; padding-left: 5.4pt"><B>30 Jericho Executive
    Plaza, Suite 400E <BR>
    Jericho, NY</B></TD>
    <TD STYLE="padding-bottom: 1.5pt; width: 1%; font-weight: bold">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; width: 49%; font-weight: bold; text-align: center; padding-left: 5.4pt">11753</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: center; padding-left: 5.4pt">(Address of principal executive offices)</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center; padding-left: 5.4pt">(Zip Code)</TD></TR>
</TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Registrant&rsquo;s telephone number, including
area code: <B>(212) 967-5120</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(Former name or former address, if changed
since last report)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>122 East 42nd Street</B></P>

<P STYLE="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>New
York, NY 10168</B></P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Check the appropriate box below if the Form 8-K filing is intended
to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction
A.2. below):</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="font-size: 10pt; vertical-align: top">
    <TD STYLE="font-size: 10pt; width: 0.5in">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9744;</FONT></TD>
    <TD STYLE="text-align: justify; font-size: 10pt">Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)</TD></TR>
<TR STYLE="font-size: 10pt; vertical-align: top">
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt">&nbsp;</TD></TR>
<TR STYLE="font-size: 10pt; vertical-align: top">
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9744;</FONT></TD>
    <TD STYLE="text-align: justify; font-size: 10pt">Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)</TD></TR>
<TR STYLE="font-size: 10pt; vertical-align: top">
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt">&nbsp;</TD></TR>
<TR STYLE="font-size: 10pt; vertical-align: top">
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9744;</FONT></TD>
    <TD STYLE="text-align: justify; font-size: 10pt">Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))</TD></TR>
<TR STYLE="font-size: 10pt; vertical-align: top">
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt">&nbsp;</TD></TR>
<TR STYLE="font-size: 10pt; vertical-align: top">
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9744;</FONT></TD>
    <TD STYLE="text-align: justify; font-size: 10pt"><FONT STYLE="font-size: 10pt">Pre-commencement communications pursuant to Rule 13e-4(c) under
    the Exchange Act (17 CFR 240.13e-4(c))</FONT></TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Securities registered pursuant to Section 12(b) of the Act:
None</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: Black 1.5pt solid; width: 33%; font-weight: bold; text-align: center">Title of each class</TD><TD STYLE="width: 1%; font-weight: bold; padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; width: 33%; font-weight: bold; text-align: center">Trading<BR> Symbol(s)</TD><TD STYLE="width: 1%; font-weight: bold; padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; width: 32%; font-weight: bold; text-align: center">Name of each exchange on which
    registered</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: center">&mdash;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&mdash;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&mdash;</TD></TR>
</TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Indicate by check mark whether the registrant is an emerging
growth company as defined in Rule 405 of the Securities Act of 1933 (&sect;230.405 of this chapter) or Rule 12b-2 of the Securities
Exchange Act of 1934 (&sect;240.12b-2 of this chapter).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="margin-right: 0.75in; font: 10pt Times New Roman, Times, Serif; text-align: right; margin-top: 0pt; margin-bottom: 0pt">Emerging
growth company &#9744;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">If an emerging growth company, indicate by check mark if the
registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards
provided pursuant to Section 13(a) of the Exchange Act. &#9744;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B><I>Section&nbsp;2 &mdash; Financial Information </I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><B>Item 2.01 Completion of Acquisition
or Disposition of Assets.</B></P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">As previously announced,
on February 24, 2020, Paltalk, Inc. (the &ldquo;<B><I>Company</I></B>&rdquo;) entered into an Asset Purchase Agreement, which was
subsequently amended and restated on May 29, 2020 (the &ldquo;<B><I>Amended and Restated Agreement</I></B>&rdquo;) with SecureCo,
Inc. (f/k/a SecureCo, LLC) (the &ldquo;<B><I>Buyer</I></B>&rdquo;), pursuant to which the Company agreed to sell substantially
all of the assets related to its secure communications business (the &ldquo;<B><I>Assets</I></B>&rdquo;) to the Buyer (the &ldquo;<B><I>Asset
Sale</I></B>&rdquo;). The Assets include communication solutions and operations capabilities for secure messaging and data applications,
and software and middleware for enterprise and government client targets.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">On July 23, 2020, the Company
completed the Asset Sale for a cash purchase price of $250,000, $150,000 of which was paid at closing and $100,000 of which is
payable in four equal installments over the next fifteen months. The Amended and Restated Agreement also provides for a revenue
sharing arrangement, pursuant to which the Company is entitled to receive quarterly royalty payments ranging from 5% to 10% of
certain revenues received by the Buyer, with the aggregate amount of such royalty payments not to exceed $500,000.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B><I>Section&nbsp;7 &mdash; Regulation FD </I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><B>Item 7.01 Regulation FD Disclosure.</B></P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">On July 23, 2020,
the Company issued a press release announcing the Asset Sale. A copy of the press release is attached hereto as Exhibit 99.1 and
incorporated by reference herein.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The information in
this Current Report on Form 8-K is being furnished pursuant to Item 7.01 and shall not be deemed to be &ldquo;filed&rdquo; for
purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the &ldquo;<B><I>Exchange Act</I></B>&rdquo;), or otherwise
be subject to the liabilities of that section, nor shall it be deemed to be incorporated by reference in any filing under the
Securities Act of 1933, as amended, or the Exchange Act, whether made before or after the date hereof and regardless of any general
incorporation language in such filing.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B><I>Section 9 &ndash; Financial Statements and Exhibits</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt"><B>Item
9.01 Exhibits. </B></FONT></P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>(d) Exhibits </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: justify">Exhibit No.</TD><TD STYLE="font-weight: bold; padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: justify">Description</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 9%; text-align: justify">99.1</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 90%; text-align: justify"><A HREF="ea124422ex99-1_paltalk.htm">Press Release of Paltalk, Inc. dated July 23, 2020 (furnished pursuant to Item 7.01).</A></TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>SIGNATURES</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Pursuant to the requirements of the Securities
Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 60%"><FONT STYLE="font-size: 10pt">Date: July 23, 2020</FONT></TD>
    <TD STYLE="width: 4%">&nbsp;</TD>
    <TD STYLE="width: 36%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 10pt"><B>PALTALK, INC</B>.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">By:</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid"><FONT STYLE="font-size: 10pt">/s/ Jason Katz</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Jason Katz</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Chief Executive Officer </FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="text-align: center; margin-top: 0; margin-bottom: 0">2</P>

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<DESCRIPTION>PRESS RELEASE OF PALTALK, INC. DATED JULY 23, 2020
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<P STYLE="text-align: right; margin: 0"><FONT STYLE="color: Black"><B>Exhibit 99.1</B></FONT></P>

<P STYLE="margin: 0"><FONT STYLE="color: Black">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 8pt; text-align: center; text-indent: 0.5in"><FONT STYLE="color: Black"><B>Paltalk,
Inc. Completes Sale of Secure Communications Assets to SecureCo, Inc.</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 8pt; text-align: center; text-indent: 0.5in"><FONT STYLE="color: Black"><I>Sale
Provides for Cash Payment and Revenue Share to Paltalk, and Complementary IP to SecureCo to Accelerate Its Business Strategy</I></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 8pt; text-align: justify"><FONT STYLE="color: Black"><I></I></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 8pt; text-align: justify"><FONT STYLE="color: Black">JERICHO,
NY and NEW YORK, NY -&nbsp;<IMG SRC="image_001.gif" ALT="" STYLE="height: 1px; width: 1px">- July 23, 2020 - Paltalk, Inc., formerly
known as PeerStream, Inc. (&ldquo;Paltalk&rdquo;) (OTCQB: PALT), a leading communications software innovator that powers multimedia
social applications, and SecureCo, Inc. (&ldquo;SecureCo&rdquo;), a provider of software applications and a network-as-a-service
platform providing hyper-secure and anonymous data communications, today announced that Paltalk has completed the sale of substantially
all of the assets related to its secure communications business to SecureCo.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 8pt; text-align: justify"><FONT STYLE="color: Black">The secure
communications business assets include communication software and operational capabilities for secure messaging and data applications
targeting enterprise and government clients. The sale price included current and deferred cash payments that total $250,000 and
provides for a revenue share on future software licensing, capped at a maximum of $500,000.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 8pt; text-align: justify"><FONT STYLE="color: Black">&ldquo;We
believe that the sale of the secure communications business is a milestone for the Company as it represents a modest monetization
of our historical investment in a business that we created and enables us to partner in its continued success via our revenue
share arrangement. Importantly, the sale allows us to exclusively focus on our core business, the Paltalk and Camfrog multimedia
social apps, which together are host to one of the world&rsquo;s largest collections of video-based communities. The proceeds
from the sale and potential cash from future revenue share payments will add to our financial strength and will be reinvested
in the consumer apps,&rdquo; said Jason Katz, Chairman and Chief Executive Officer of Paltalk.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 8pt; text-align: justify"><FONT STYLE="color: Black">Alex Harrington,
SecureCo&rsquo;s CEO, added, &ldquo;Paltalk has a legacy of great communication software. The acquisition of these complementary
assets strengthens SecureCo&rsquo;s product capabilities and paves the way for success in providing differentiated cybersecurity
solutions for government and enterprise customers.&rdquo;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 8pt"><FONT STYLE="color: Black"><B>ABOUT PALTALK, INC. (OTCQB:
PALT)</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 8pt; text-align: justify"><FONT STYLE="color: Black">Paltalk is
a communications software innovator that powers multimedia social applications. We have also developed a suite of secure communications
software for use worldwide. Our product portfolio includes Paltalk and Camfrog, which together host one of the world&rsquo;s largest
collections of video-based communities. Our other products include Tinychat and Vumber. The Company has an over 20-year history
of technology innovation and holds 18 patents. For more information, please visit: http://www.paltalk.com.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 8pt; text-align: justify"><FONT STYLE="color: Black"><B>ABOUT
SECURECO, INC. </B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0; text-align: justify"><FONT STYLE="color: Black">SecureCo offers
software applications and a network-as-a-service platform providing hyper-secure and anonymous data communications for enterprise
and government clientele<FONT STYLE="background-color: white">. Our evasive routing techniques and obfuscation hide attribution
and other identity-based metadata, offering superior confidentiality, privacy, and cyber resiliency. These capabilities are powered
by our </FONT>software-defined mesh network <FONT STYLE="background-color: white">with a </FONT>zero-trust architecture that masks
sender and recipient traffic, offering our clients resistance to eavesdropping, tampering, and disruption, even in adversarial
network environments. Our technology is well suited for telework, mobile, IoT, or other applications in which safe transport of
sensitive information is paramount. For more information, please visit: https://secureco.io.</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 8pt"><FONT STYLE="color: Black"><B>FORWARD-LOOKING STATEMENTS</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 8pt; text-align: justify"><FONT STYLE="color: Black">This press
release contains &quot;forward-looking statements.&quot; Such statements may be preceded by the words &quot;intends,&quot; &quot;may,&quot;
&quot;will,&quot; &quot;plans,&quot; &quot;expects,&quot; &quot;anticipates,&quot; &quot;projects,&quot; &quot;predicts,&quot;
&quot;estimates,&quot; &quot;aims,&quot; &quot;believes,&quot; &quot;hopes,&quot; &quot;potential,&quot; or similar words. Forward-looking
statements are not guarantees of future performance, are based on certain assumptions and are subject to various known and unknown
risks and uncertainties, many of which are beyond Paltalk's control, and cannot be predicted or quantified and consequently, actual
results may differ materially from those expressed or implied by such forward-looking statements. Such risks and uncertainties
include, without limitation, the impact of the recent coronavirus outbreak on our results of operations and our business; our
ability to effectively market and generate revenue from our applications, risks and uncertainties related to our increasing focus
on the use of new and novel technologies, such as blockchain and Props tokens, to enhance our applications, and our ability to
timely complete development of applications using new technologies; our ability to effectively integrate Props tokens into our
existing applications; our ability to effectively secure new software development and licensing customers; legal and regulatory
requirements related to the use of blockchain, including us holding and distributing cryptocurrencies and accepting cryptocurrencies
as a method of payment for our services; the use of the internet and privacy and protection of user data; risks related to our
holdings of digital tokens, including risks related to the volatility of the trading price of digital tokens and our ability to
convert digital tokens into fiat currency; and our ability to manage our partnerships and strategic alliances. More detailed information
about Paltalk and the risk factors that may affect the realization of forward-looking statements is set forth in Paltalk's filings
with the Securities and Exchange Commission (&quot;SEC&quot;), including the Paltalk's most recent Annual Report on Form 10-K
and Quarterly Reports on Form 10-Q. Investors and security holders are urged to read these documents free of charge on the SEC's
website at www.sec.gov.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 8pt; text-align: justify"><FONT STYLE="color: Black">All forward-looking
statements speak only as of the date on which they are made. Paltalk undertakes no obligation to update any forward-looking statement
or statements to reflect events or circumstances after the date on which such statement was made, except to the extent required
by applicable securities laws.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 8pt"><FONT STYLE="color: Black"><B>CONTACTS:</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 8pt"><FONT STYLE="color: Black">Paltalk:</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 8pt"><FONT STYLE="color: Black">IR@paltalk.com</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 8pt"><FONT STYLE="color: Black">Stephanie Prince<BR>
PCG Advisory<BR>
sprince@pcgadvisory.com<BR>
646-762-4518</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 2pt"><FONT STYLE="color: Black">SecureCo:</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 2pt"><FONT STYLE="color: Black">PR@secureco.io</FONT></P>

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