Freeze Tag Inc (FRZT)

[HIFI]

FRZT 10Q is out 99,938,817 O/S A/S still 100mil as far as I know

29,862 in revenue

From 10Q Results of Operations for the Three Months Ended September 30, 2013 Compared to the Three Months Ended September 30, 2012

Introduction

Our revenues for the three months ended September 30, 2013 were $29,862, compared to $110,418, for the three months ended September 30, 2012. For the three months ended September 30, 2013 we did not release or update any games. By mutual agreement between Freeze Tag and GREE, our contract was discontinued, and we will be publishing and marketing the Party Animals®: Dance Battle game under the Freeze Tag name. We are unable to comment on behalf of GREE, but we will comment that their strategy changed, and we were provided an opportunity to either keep the contract in place or move forward on our own, and we choose to move forward on our own.

As of the date of this report, we have begun to “beta test” Party Animals®: Dance Battle on the iOS platform in a few select markets outside of the United States. We are hopeful that the results of this “beta test” will equal our internal testing results and that the game will perform well. The purpose of this “beta testing” is to assess the viability of the game in its current state with thousands of users, and using specialized analytics, we are able to then make changes and improvements to the game so that it better resonates with consumers. Once we get an understanding of how well the game performs, and we understand what players do/don’t like about the game, we can then make changes and re-launch the game to a broader market. Sometimes this re-launch may be to a limited group for another beta test, or we may choose to launch the game worldwide for a full release. This process can take many weeks, even months, to make sure that the game resonates with our audience, and that consumers are willing to spend money to purchase items in the game.

While we are optimistic that the game will perform well, because we have short term cash flow needs, we may end up in a position where we no longer have the cash to operate the company, and we may soon have exhausted all available means of raising additional cash, and may be forced to take drastic measures with the company, including, but not limited to, selling the assets of the company, or even closing down company operations.

We have put further development on Grimm Reaper® on hold until our cash position allows us to begin development on it again.
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