SPYR, Inc. Announces Adoption of Corporate Code of Business & Ethical Conduct
DENVER, CO -- (Marketwired) -- 03/18/15 --
SPYR, Inc. (OTCQB: SPYR), a holding company with wholly-owned subsidiaries in the digital publishing and advertising industry and in the food service industry, today announced that the Company's Board of Directors and Executive Management Team, with the participation and review of its SEC counsel, have adopted a Code of Business and Ethical Conduct for the Company.
James R. Thompson, the Company's CEO & President commented: "We adopted this Code not only to comply with our Sarbanes-Oxley obligations to have a corporate Code of Ethics, but also to reinforce the Company's reputation for integrity and ethical standards in all areas of conduct, disclosure, and regulatory compliance. Compliance with the Code is required of every employee, officer and director of the Company. This Code outlines broad principles of legal and ethical conduct. Our goal in developing the Code was not just to comply with the legal standards set by Sarbanes Oxley, but to exceed them where we could, and I believe we've done that."
Thompson added: "We adopted strong policies requiring that all of our public and regulatory disclosures be subject to mandatory review procedures, including pre-review and written approval from the Company's executive officers and SEC legal counsel, confirming the accuracy of all factual representations and disclosures. We adopted these policies to insure that our communications with the public and the SEC are only done in an authorized, compliant and reliable manner, and to help the public identify legitimate published information about the Company."
"Adoption of the Code is also consistent with my goal of responsible corporate governance and my desire to instill trust and confidence in the Company, its management and its new business model and direction within the investment community," Thompson concluded.
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) email@example.com
Source: SPYR, Inc.