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SouthPeak Interactive Corp. (SOPK)

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SouthPeak Interactive Corp.


60.7M Outstanding Shares
Only 90M Authorized 

Contact Info
2900 Polo Parkway
Midlothian, VA 23113
Phone: 804-378-5100

April 17, 2013 


The legal battle between TimeGate and SouthPeak originated in 2009, when TimeGate sued the publisher, alleging multiple breaches of contract. In response to this, SouthPeak claimed that it was TimeGate that breached the contract by "failing to put forth its best efforts in developing" Section 8. 

Both parties then entered into arbitration with a third party, who found in favor of SouthPeakawarding the company $7.35 Million in damages and total control of the Section 8 game license


Price was Trading at $1.20 Prior to Lawsuit

SouthPeak Interactive Posts Record Revenues of $40.2 Million and Record Adjusted EBITDA of $4.5 Million for the Fiscal Year Ended June 30, 2008

MIDLOTHIAN, Va., Oct 07, 2008 (BUSINESS WIRE) -- SouthPeak Interactive Corporation (OTC Bulletin Board: SOPK; SOPKU; SOPKW; SOPKZ), one of the fastest growing videogame publishers, today announced financial results for the fiscal year ended June 30, 2008.
Highlights of the financial results include:

-- Revenues increased 220% to $40.2 million from $12.5 million in the year-earlier period;

-- Earnings before interest, taxes, depreciation and amortization, adjusted for one-time transaction costs ("EBITDA"), increased to $4.5 million from a loss of $0.7 million; and

-- Non-GAAP income before income taxes increased to $3.8 million from a loss before income taxes of $0.9 million.

Other important milestones include:

-- Going public and completing a $14.6 million financing;

-- Successfully launching critically acclaimed Xbox 360 title Two Worlds and developing the franchise with its first sequel Two Worlds: The Temptation;

-- Expanding next generation platform support with the Company's first two titles for Nintendo Wii: Pool Party and Dream Pinball; and

-- Creating additional partnerships with independent studios worldwide enabling the Company to more than double the number of title releases in 2009.

Commenting on the Company's results, Terry Phillips, Chairman of SouthPeak, stated, "The 2008 fiscal year was an exciting period for us. We rapidly grew our business and completed a going public transaction and an institutional financing. Our financial results were driven by strong market demand for our products and the continued expansion of our product portfolio. Our results underscore the scalability of our business model, as illustrated by the decrease in our G&A expenses as a percentage of our net revenues to 9.5% as compared to 18.2% in the year-earlier period."

Melanie Mroz, CEO of SouthPeak, added, "In the past year, we have built a strong product line for next generation hardware platforms, including solid franchises, like Two Worlds, that provide us with sequel opportunities. We plan to expand our portfolio in fiscal 2009 with the addition of several new IPs, including Ninjatown, X-Blades, My Baby and Two Worlds: The Temptation. With our strong stable of independent developers throughout the world, we are poised to more than double our titles next year."

About SouthPeak Interactive Corporation

SouthPeak Interactive Corporation develops and publishes interactive entertainment software for all current hardware platforms including: PLAYSTATION(R)3 computer entertainment system, PSP(R) (PlayStation(R) Portable) system, PlayStation(R)2 computer entertainment system, Xbox 360(R) videogame and entertainment system, Wii(TM), Nintendo DS(TM) and PC. SouthPeak's games cover all major genres including action/adventure, role playing, racing, puzzle strategy, fighting and combat. SouthPeak's products are sold in retail outlets in North America, Europe, Australia and Asia. SouthPeak is headquartered in Midlothian, Virginia, and has offices in Grapevine, Texas and London, England. www.southpeakgames.com

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#312   $SOPK filled .0017s thnx MONSTAMONEYMOVA 01/23/18 11:28:58 AM
#311   $SOPK .0069 HOD touched MONSTAMONEYMOVA 01/22/18 02:22:33 PM
#310   Where do you see that? pennylover 01/22/18 02:19:08 PM
#309   $SOPK getting paid 8M ? MONSTAMONEYMOVA 01/22/18 02:17:47 PM
#308   $SOPK volume took a few .0018 somethings up ? MONSTAMONEYMOVA 01/22/18 01:38:02 PM
#307   Any word on what these guys are up to? celtic2004 04/24/14 12:40:26 AM
#306   SOPK is getting attension and momentum kranthikumar 12/17/13 10:13:47 AM
#305   News of sopk doing stuff. Trying to buy WalkmanNpt 11/20/13 06:42:52 PM
#304   http://www.polygon.com/2013/11/20/5125328/bidding-war-begins-over-timegates-mini WalkmanNpt 11/20/13 06:41:32 PM
#303   Anyone hear from sopk? WalkmanNpt 11/13/13 08:04:36 AM
#302   Yeah, that's what I was talking about. There WalkmanNpt 10/09/13 04:38:10 PM
#301   Could you post a link to the SOPK Nethescurial 10/07/13 12:13:32 PM
#300   I love how someone is willing to pay WalkmanNpt 10/03/13 07:23:02 PM
#299   Breaking new!! Sopk proves it actually cares about WalkmanNpt 10/03/13 07:03:35 PM
#298   I'm one of the 17 individuals in the Nethescurial 10/01/13 11:50:26 AM
#297   WE HAVE POST-2011 CONTACT WITH SOPK!! vmaster 09/24/13 02:08:42 PM
#296   In my opinion. They went under ground during WalkmanNpt 09/17/13 09:35:00 PM
#295   I hope you're right. They must be doing Nethescurial 09/16/13 02:41:34 PM
#294   The south peak website is now down. Atleast WalkmanNpt 09/12/13 02:49:16 PM
#293   I thought the lawsuit was settled in April. Nethescurial 08/26/13 08:41:02 PM
#292   Any new news on sopk? Hows that lawsuit WalkmanNpt 08/25/13 05:46:07 PM
#291   Howdy sopk'ers WalkmanNpt 08/20/13 09:01:47 AM
#290   Go sopk! Lets hitnnew heights today WalkmanNpt 08/08/13 08:04:03 AM
#289   Howdy all. I bet today will be a WalkmanNpt 08/05/13 08:58:06 AM
#288   Why not stay and take a closer look? Nethescurial 08/01/13 12:18:29 PM
#284   Yesterday was all me, and I don't regret pretty things 07/30/13 01:54:23 PM
#283   Very well said, and I agree 100%. With Nethescurial 07/30/13 10:00:17 AM
#282   To posters on this board. There is one WalkmanNpt 07/30/13 08:12:49 AM
#281   This stock only has a 6 million float. WalkmanNpt 07/30/13 08:12:17 AM
#280   This stock is going skyrocket . Numbers are pretty things 07/29/13 04:15:21 PM
#279   Hey it was me I went all the pretty things 07/29/13 03:35:24 PM
#278   Nice to see that someone finally took out Nethescurial 07/29/13 01:01:25 PM
#277   Man. Hopefully they chnge course. This is such WalkmanNpt 07/26/13 02:58:57 PM
#276   According to GameSpot, there are 5 titles coming Nethescurial 07/26/13 12:07:48 PM
#275   Are they working on any new product? pretty things 07/25/13 05:27:02 PM
#274   Yep, we're up a whopping 8% today! Nethescurial 07/24/13 04:43:02 PM
#273   Whoa, sopk. Big day!! Looks like we need WalkmanNpt 07/24/13 04:00:35 PM
#272   Apple is gonna go up huge this year. WalkmanNpt 07/23/13 10:21:45 AM
#271   This is the first time in my trading thatguy157 07/22/13 11:48:39 PM
#270   This conpany needs to start advertising. You are WalkmanNpt 07/22/13 04:40:31 PM
#269   Not enough people know about this stock. We Nethescurial 07/22/13 01:00:09 PM
#268   Go sopk WalkmanNpt 07/22/13 10:53:58 AM
#267   Come on fokes, let them shares loose! WalkmanNpt 07/17/13 03:58:34 PM
#266   I only have 200k shares. But I am thatguy157 07/17/13 12:23:11 PM
#265   I git a nice little piece. I'm waiting. WalkmanNpt 07/16/13 08:27:07 PM
#264   I wouldn't expect a lot of fast action Nethescurial 07/16/13 12:53:07 PM
#262   Getting a little frustrated, come on guys I thatguy157 07/15/13 05:40:56 PM
#261   I bought .0093's!! I still think it was WalkmanNpt 07/12/13 09:47:12 AM
#260   Exactly. That means we either have to be Nethescurial 07/11/13 01:22:48 PM
#259   Yeah I think we are noticing the effects WalkmanNpt 07/11/13 08:07:18 AM