DENVER, CO--(NewMediaWire - Oct 25, 2017) - SPYR, INC. (OTC
PINK: SPYR), a holding company with a wholly owned subsidiary
in the mobile game & app development and publishing industry,
today announced that its wholly owned subsidiary, SPYR APPS, LLC,
finalized its acquisition of all of the assets related to its
flagship game, Pocket Starships, a real-time, cross-platform
space-themed massively multiplayer online (MMO) game.
On September 12, 2017, SPYR announced that it entered into an
agreement to purchase Pocket Starships, a game in which more than
$6 million has been invested.
(http://ir.spyr.com/press-releases/detail/193/spyr-acquires-100-ownership-of-pocket-starships-in).
SPYR closed on the transaction and all assets have been transferred
to SPYR.
SPYR will now retain 100% of the revenue generated from the
game, and SPYR is the sole owner of all of the assets related to
the game. Under the terms of the agreement, the game's owner
received 8,000,000 restricted shares of SPYR stock (subject to
resale gating provisions) and 8,000,000 three-year cash-based
options exercisable at $0.50 per share.
Additional details of the transaction have been released in an
8K filed with the Securities and Exchange Commission. The
acquisition includes, among other assets, all Pocket Starships
related intellectual property, the userbase, artwork, software,
internet domains, game store accounts (such as App Store, Play
Store, Amazon, and Facebook Gameroom), web portal accounts
(Facebook, VK.com, Kongregate, etc.) and internet domains
(www.pocketstarships.com.)
About SPYR
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:
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assumptions about future events. Although we believe that the
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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, as well as SPYR's website located
at http://www.spyr.com, and SPYR's community channel on
Twitter located at https://twitter.com/spyrinc.