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Replies to post #62093 on Freeze Tag Inc (FRZT)
10/06/17 9:51 AM
10/08/17 3:08 PM
Munzee’s total revenue for the year ended December 31, 2015 were approximately $1,894,000 and for the year ended December 31, 2016, approximately $2,116,916 (Green Pin Services Inc. contributed an additional $242,843 for a total of $2,359,759). Munzee’s net income for the year ended December 31, 2015 was approximately $126,000 and for the year ended December 31, 2016, was approximately $177,853 (combined with Green Pin Services Inc., Net Income was -$152,718). Revenues and net income for the first six months ending June 30, 2017, were approximately $1,075,297, and $34,664, respectively. Net Income was down due to approximately $80,000 spent in defense of patent infringement claim, IRS audit, and legal consultation for merger. All Green Pin Services Inc. entities have been liquidated and closed as of March 2017. There are $0 in cost and revenue as of June 30, 2017 for Green Pin Services Inc. and moving forward.
10/09/17 10:37 AM
The merger with Munzee Inc. is proceeding very well. The estimated date of closing the merger is October 18, 2017.
10/09/17 11:00 AM
10/10/17 11:26 AM
The merger with Munzee Inc. is proceeding very well. The estimated date of closing the merger is October 18, 2017.
Craig Holland, CEO of Freeze Tag, commented, “After working closely together for nearly a year, we both realized that combining our individual strengths into one entity will create a powerful force in location-based gaming going forward.”
Central to the combined company’s core strategy is capitalizing on two fast-growing trends in the mobile applications world: Augmented reality gaming and location-based advertising. The combined company’s proprietary technology and expertise can be leveraged to create more exciting augmented reality location-based games that can serve as a location-based advertising network. Additionally, the company intends to offer services to help advertisers explore new possibilities in location-based advertising where captive users are roaming around in the real world. For example, AR games can help drive foot traffic to malls and movie theatres, or create memorable real world interactions that help connect users to brands with deeply emotional experiences. This kind of experience based location-specific advertising can have consumer impacts far beyond that of Google AdWords or Facebook news feed videos.
With Munzee’s large installed base of locations and the combined technology of both companies, there are tremendous opportunities to offer engaging entertainment-centric, location-based advertising solutions. According to BIA/Kelsey, a media research firm, location-targeted mobile ad sales are expected to rise from $12.4 billion in 2016 to $32.4 billion by the end of 2021. (Source: http://www.biakelsey.com/location-targeted-mobile-ad-spend-reach-29-5b-u-s-2020/).
According to advisory firm Digi-Capital, mobile AR (augmented reality) is set to become the primary driver of a $108 billion VR/AR market by 2021, with AR taking the lion’s share of $83 billion and VR $25 billion (source: Digi-Capital article: http://www.digi-capital.com/news/2017/01/after-mixed-year-mobile-ar-to-drive-108-billion-vrar-market-by-2021/)
“We’re excited to work together to build on Munzee’s leadership position in the location-based mobile gaming world,” said Rob Vardeman, President of Munzee Inc., who will become President of the newly combined company. “We have a big vision of where we can be in the future with augmented reality and location-based entertainment.”
10/10/17 4:04 PM
