SPYR Highlights Strategic Growth Initiatives for the Current and Future Quarters
DENVER, June 6, 2017 /PRNewswire/ -- SPYR, INC. (OTCQB: SPYR), a holding company with a wholly owned subsidiary in the mobile game & app development and publishing industry, highlights its significant growth initiatives:
- Core Business - The Company has built a strong foundation with a solid management team in place. The addition of new games is ongoing as we work toward achieving our ultimate goal of becoming a company with short-term, mid-term, and long-term games of varying genres within our portfolio.
- Hollywood Intellectual Property (IP) – We have been working toward the integration of well-recognized and respected Hollywood IP into our flagship free-to-play game, Pocket Starships, which will give the game broad brand recognition and additional exposure; we anticipate reporting to our shareholders on this subject in the very near future.
- Esports – Many current modifications to Pocket Starships are related to our plan to capitalize on the growing esports market, which continues to grow at double-digit rates annually.
- More Games Coming Soon – We are regularly exploring opportunities for new publishing deals and games. Just two weeks ago, CEO & President, James R. Thompson, and VP of Strategic Partnerships, Mike Turner, attended the Las Vegas Licensing Expo 2017, where they had productive meetings with many IP holders (Hollywood and otherwise) looking to integrate their IP into mobile games. They are in the process of following up on those meetings and have already begun to exchange initial documents to allow negotiations to proceed. Moreover, they will attend 2 games industry conferences in June, namely, the E3Expo (www.e3expo.com) in Los Angeles and Pocket Gamer Connects (https://www.pgconnects.com/sanfrancisco/) in San Francisco.
- Management - Our management team boasts some of the most diverse and well-respected names in the gaming industry – Farshid Almassizadeh, our Chief Strategic Advisor and former EA Executive, and Mike Turner, our Vice President of Strategic Partnerships and a former VP at iDreamSky, have been aggressively pursuing new gaming opportunities for SPYR and we expect that we will see the benefits of their efforts in the coming quarters.
- Acquisition and Joint Venture Agreements - Acquisition and Joint Venture Agreements are time consuming and tedious to find and close, but the precise, strategic selection of the correct acquisition or joint venture can change the complexion of the company. The management team and Board of Directors of SPYR is acutely aware of the key acquisitions and Joint Ventures that will strengthen SPYR on both revenue and integration fronts. We anticipate reporting these developments in the coming weeks and months.
- Stock Dividend / Spin-Off - The Company has filed all of the paperwork required to date to move forward with the stock dividend to be distributed to the shareholders of record as of May 19, 2017. In our June 1, 2017 press release, we outlined the steps on how shareholders of record on this date can receive their dividend.
By building the strong foundation it has, we believe the Company's long-term growth strategy can be attained and sustained. We expect the dividends to our shareholders to be significant in the future. We believe the current growth in esports will present substantial growth opportunities, thus poising SPYR for continued and sustained growth in the coming quarters.
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, 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 https://www.sec.gov, as well as SPYR's website located at https://www.spyr.com, and SPYR's community channel on Twitter located at https://twitter.com/spyrinc.
Investor Relations Contact:
Marmel Communications, LLC
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SOURCE SPYR, INC.
Released June 6, 2017