DENVER, CO--(Marketwired - Sep 27, 2017) - SPYR, INC. (
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.
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