SPYR Enters Multi-Billion Dollar Mobile Games & Apps Market
SPYR APPS, LLC Now a Wholly Owned Subsidiary of SPYR, INC.
DENVER, CO -- (Marketwired) -- 03/31/15 -- SPYR, INC. (OTCQB: SPYR), a holding company with wholly owned subsidiaries in the digital publishing and advertising industries and in the food service industry, today announced that it has formed a new wholly owned subsidiary, SPYR APPS, LLC.
James R. Thompson, the Company's CEO & President commented: "We formed SPYR APPS for the purpose of expanding our digital media presence into the multi-billion dollar mobile app industry. We are very excited about entering the mobile games and applications space because it gives us the opportunity to continue to grow SPYR's portfolio of digital media holdings while entering a market that presents an opportunity and potential for a great deal of growth."
The mobile apps industry is expected to grow 16.5 percent in 2015 according to a February 18, 2015, article from eMarketer.com, with mobile games accounting for over 30 percent of the U.S. mobile content market in 2015.
The mobile games and applications market offers SPYR significant opportunities and upside potential. Other mobile games and applications companies have realized rapid growth and success, together with significant market capitalization valuations. SPYR APPS aspires to achieve similar growth, success and valuation.
Mr. Thompson further stated, "My goal when I assumed the position of President and CEO was to position SPYR in markets where the growth potential was greatest; and the mobile games and applications market is one of them."
About SPYR, INC.
SPYR, INC. is a holding company that through its wholly-owned subsidiary, Franklin Networks, Inc., is engaged in digital publishing and advertising operations and through its other wholly-owned subsidiary, E.A.J.: PHL, Airport Inc., owns and operates an "American Diner" theme restaurant located in the Philadelphia International Airport in Philadelphia, Pennsylvania called "Eat at Joe's®." 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.
Investor Relations Contact:Marlin MolinaroMarmel Communications, LLC(702) firstname.lastname@example.org
Source: SPYR, INC.