From SPYR's own press release July 10 2018. It has now been over 6 months and not a word from mgnt on this fictious acquisition. Turner said it would close in 2018. Read closeadditional details will be provoed as the transaction progresses....huh...I guess its not progressing? Also if you read the release this so called accretive acquition did not have audited financials. So could the cheeleaders here please share where this phantom transaction is??
Mike Turner, SPYR’s VP of Strategic Partnerships states, “This highly accretive acquisition will result in SPYR generating meaningful pro forma revenue and cash flow. Equally important is the fact that this deal catalyzes SPYR’s acquisition strategy and will lead to other opportunities to purchase accretive assets in the highly fragmented mobile and desktop game space.
Upon closing of the transaction, SPYR will acquire all of the game assets, including the game’s experienced development team. The acquired team will continue to work on the existing game as well as potential add-on titles. Additional details will be provided as the transaction progresses.
“Everyone at SPYR is excited about the acquisition of this fantastic team and moving forward as quickly as possible to complete the transaction. Upon closing, SPYR will have a new, revenue generating title in its portfolio and the ability to leverage the Target’s strong and loyal registered user base numbering in the tens of millions. We plan to cross-promote our current and future titles across this user base and have some very exciting plans to expand the game and keep it fresh for both existing and new players, stay tuned” said Mr. Turner.
SPYR expects that the asset purchase will close in 2018.
