SPYR Highlights Year-End Goals and Objectives
Aggressive Acquisition Strategy Underway
DENVER, CO -- (Marketwired) -- 09/27/17 -- SPYR, INC. (OTC PINK: SPYR), a holding company with a wholly owned subsidiary in the mobile game & app development and publishing industry, today outlined its goals and objectives for the remainder of the calendar year:
1. Finalize Ownership of Pocket Starships - The significance of this transaction from a fundamental revenue perspective is that SPYR will retain 100% of the revenue generated from the game. The significance from an asset perspective is that SPYR will also now own the game engine, platform, intellectual property, and internet domains.
2. Publish Additional Games - We anticipate entering into agreements to publish additional games utilizing well-recognized Hollywood IP, that will add to our revenue in the coming months.
3. Enter a Definitive Investment Banking Agreement - SPYR intends to secure a Definitive Investment Banking arrangement with a broker-dealer that will assist SPYR with acquisitions, mergers, joint ventures and capital raising under responsible, minimally dilutive (non-toxic) terms.
4. Pursue Acquisitions - SPYR has commenced an acquisition strategy that it intends to pursue aggressively, with the goal being to acquire multiple companies in or related to the electronic games industry and, thereby, to obtain ownership of a diverse portfolio of games titles and other potential related technologies and content.
5. Stock Dividend - The company has identified and is reviewing potential targets for merger into its subsidiary; however, given the amount of time required to perform necessary due diligence and to obtain regulatory approval, the Board of Directors has determined that it is in the best interest of the shareholders to extend the dividend issuance date to December 31, 2017.
Participating in game development with developers is a necessary part of the publishing process for any electronic game publisher to succeed. SPYR's goal moving forward is to continue to work closely with its development partners in bringing new games to market, while at the same time primarily focusing on growing top line revenue and profitability.
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 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
Source: SPYR, Inc.
Released September 27, 2017