DENVER, CO--(NewMediaWire - Aug 2, 2017) - SPYR, INC. (OTC
PINK: SPYR), a holding company with a wholly owned subsidiary
in the mobile game & app development and publishing industry,
today provided an update to shareholders and highlighted its year
to date accomplishments and future plans.
The recent trading activity and volatility in the Company's
stock has not gone unnoticed by management. The Board of
Directors, management and the Company's SEC counsel are looking
into the trading activity and will implement any available remedial
measures.
We would like to reassure our shareholders that no insiders,
officers, directors or any member of management have sold any
shares of SPYR stock. No one has loaned or pledged their stock
in any way and no toxic financings have been entered into or are
contemplated.
SPYR's management has been working diligently over the last few
years building a mobile games publishing business, all of which
takes time and money. On February 2, 2017, the Company issued
a press release outlining its plans and objectives for 2017 ("SPYR
Updates Shareholders on Plans and Objectives for
2017;" http://ir.spyr.com/press-releases/detail/158/spyr-updates-shareholders-on-plans-and-objectives-for-2017),
in which the Company stated that its "overarching goal for 2017 and
beyond is to become a premier, diversified mobile games publisher,
deriving revenue from games in various genres and appealing to
multiple demographics." The Company is pleased to announce
that it has already achieved many of the objectives described in
that press release and is well on its way to accomplishing much
more. Some of those accomplishments include:
- Regular content updates to the Company's flagship game, Pocket
Starships, and making it more widely available by:
Adding PvP (player vs. player) functionality to prepare the game
for an entry into the esports market. For more information
regarding this endeavor, please see our press releases from April
4, 2017: "SPYR Moves Closer to Entering Competitive esports Market
with Latest Updates to Pocket Starships"
(http://ir.spyr.com/press-releases/detail/170/spyr-moves-closer-to-entering-competitive-esports-market)
and June 22, 2017: "SPYR's Pocket Starships Getting Closer to
Esports Arena with Player vs. Player Update"
(http://ir.spyr.com/press-releases/detail/183/spyrs-pocket-starships-getting-closer-to-esports-arena).
Being one of the initial games offered in Facebook's
Gameroom. See our press release from February 8, 2017:
"Facebook Adds SPYR's Pocket Starships to New Gameroom Platform"
(http://ir.spyr.com/press-releases/detail/159/facebook-adds-spyrs-pocket-starships-to-new-gameroom).
Continuing to make the game more widely available to potential
users by regularly adding the game to new platforms and portals
where players can find Pocket Starships. See our press
releases from March 7, 2017: "SPYR's Pocket Starships Now Available
to Over 100 Million Users on 46 International Game Portals"
(http://ir.spyr.com/press-releases/detail/165/spyrs-pocket-starships-now-available-to-over-100-million)
and April 25, 2017: "SPYR's Pocket Starships Now Available on
Europe's Largest Social Network and Fifth Most Visited Site in the
World"
(http://ir.spyr.com/press-releases/detail/173/spyrs-pocket-starships-now-available-on-europes-largest). Other
portals have been added since the issuance of these releases.
Securing valuable Hollywood intellectual property (IP) to
incorporate into the game, which will provide a significant
expansion to the content of the game as well as give a direct
marketing channel to the millions of fans of the IP. See our
press release from June 8, 2017: "SPYR To Add Star Trek™ IP To
Pocket Starships Game"
(http://ir.spyr.com/press-releases/detail/180/spyr-to-add-star-trek-ip-to-pocket-starships-game).
Engaging Farshid Almassizadeh, the former VP and COO of EA
Interactive, to join the SPYR team as its Chief Strategic
Advisor. See our press release from February 22, 2017: ("SPYR
Hires Former Electronic Arts (EA) Executive As Chief Strategic
Advisor;" http://ir.spyr.com/press-releases/detail/161/spyr-hires-former-electronic-arts-ea-executive-as-chief).
As part of the Company's strategy to build a diversified
portfolio, it:
Added Home Makeover 4 to its publishing portfolio, a casual
"hidden object" game that targets a female demographic. See
our press releases from April 3, 2017: "SPYR Adding New Game to its
Portfolio"
(http://ir.spyr.com/press-releases/detail/169/spyr-adding-new-game-to-its-portfolio)
and May 30, 2017: "SPYR's Co-Published Home Makeover 4 Game Now
Available in the Apple App Store"
(http://ir.spyr.com/press-releases/detail/177/spyrs-co-published-home-makeover-4-game-now-available-in).
Obtained ownership of Battlewack: Idle Lords, an "idle tapper"
game ("idle tapper" games are very popular and perfect for mobile
devices as they allow the game to progress while the player is
away), and related intellectual property; on which development is
almost complete. The Company will complete development of the
game and expects to launch it toward the end of 2017. See our
press release from July 18, 2017: "SPYR Acquires Ownership of
Battlewack: Idle Lords Game and Intellectual Property"
(http://ir.spyr.com/press-releases/detail/187/spyr-acquires-ownership-of-battlewack-idle-lords-game-and)
The Company has taken all of the steps required to date to
effect the spinoff of the restaurant assets to a new public entity
in which all shareholders of record as of May 19, 2017, will
receive one share of stock in the new entity for every share of
SPYR stock held by them as of May 19, 2017. The Company
anticipates that the dividend will be issued by September 29,
2017. See our press releases from April 17, 2017: "SPYR Begins
Spin-Off of Its Restaurant Division"
(http://ir.spyr.com/press-releases/detail/171/spyr-begins-spin-off-of-its-restaurant-division)
and June 1, 2017: "SPYR Outlines Stock Dividend Distribution
Details"
(http://ir.spyr.com/press-releases/detail/178/spyr-outlines-stock-dividend-distribution-details).
In addition to the foregoing, the SPYR team is working on
several other exciting opportunities, both near and long term,
including:
A deal with an esports tournament organizer for Pocket Starships
to make its esports debut in two tournaments before year-end.
A publishing agreement for a casual "tapper" game that is based
on Hollywood IP. The Company has secured its agreement with
the developer and is now working on finalizing the terms of an
agreement with the IP holder.
A publishing agreement for a core "tapper" game that is based on
other Hollywood IP. The Company has secured its agreement with
the developer and is now working on finalizing the terms of an
agreement with the IP holder.
A publishing agreement for a competitive PvP game where players
can become a character from a movie slated to be released as a 2018
blockbuster and wreak havoc on the opposing team in real time
combat.
In closing, the Company is proud to report that as of July 31,
2017, it has already achieved many of its plans and objectives for
2017, as outlined in the February 2, 2017, press release and has
seized upon several new opportunities that materialized since
then.
About SPYR
SPYR, INC. is a holding company that through its wholly owned
subsidiary SPYR APPS, LLC, is engaged in mobile application and
game publishing and development. The Company is currently
exploring opportunities for additional acquisitions in these and
other verticals, including mobile application and game development,
in order to expand its holdings, to drive and increase revenue and
to generate profits and build value for shareholders.
Safe Harbor Statement:
This release contains forward-looking statements that are based
upon current expectations or beliefs, as well as a number of
assumptions about future events. Although we believe that the
expectations reflected in the forward-looking statements and the
assumptions upon which they are based are reasonable, we can give
no assurance or guarantee that such expectations and assumptions
will prove to have been correct. Forward-looking statements are
generally identifiable by the use of words like "may," "will,"
"should," "could," "expect," "anticipate," "estimate," "believe,"
"intend," or "project" or the negative of these words or other
variations on these words or comparable terminology. The reader is
cautioned not to put undue reliance on these forward-looking
statements, as these statements are subject to numerous factors and
uncertainties, including but not limited to: adverse economic
conditions, competition, adverse federal, state and local
government regulation, international governmental regulation,
inadequate capital, inability to carry out research, development
and commercialization plans, loss or retirement of key executives
and other specific risks. To the extent that statements in this
press release are not strictly historical, including statements as
to revenue projections, business strategy, outlook, objectives,
future milestones, plans, intentions, goals, future financial
conditions, events conditioned on stockholder or other approval, or
otherwise as to future events, such statements are forward-looking,
and are made pursuant to the safe harbor provisions of the Private
Securities Litigation Reform Act of 1995. The forward-looking
statements contained in this release are subject to certain risks
and uncertainties that could cause actual results to differ
materially from the statements made. Readers are advised to review
our filings with the Securities and Exchange Commission that can be
accessed over the Internet at the SEC's website located
at http://www.sec.gov, as well as SPYR's website located
at http://www.spyr.com, and SPYR's community channel on
Twitter located at https://twitter.com/spyrinc.