SPYR Inc (OTCMKTS:SPYR) is making moves up the charts in recent weeks trading well over $0.35 a share and landing among the top traded stocks on the entire exchange. SPYR reached a low of $0.12 earlier this year and has been upward bound since.
SPYR made big moves last year when it was still trading as JOES from $0.005 lows to highs near $1 a share.
SPYR Inc (OTCMKTS:SPYR) is a holding company that through its wholly owned subsidiary, Franklin Networks, Inc., is engaged in digital publishing and advertising operations, and through its wholly-owned subsidiary SPYR APPS, LLC, is engaged in mobile application and game development.
SPYR, INC. also owns and operates an “American Diner” theme restaurant located in the Philadelphia International Airport in Philadelphia, Pennsylvania called “Eat at Joe’s®” through its other wholly-owned subsidiary, E.A.J.: PHL Airport Inc. 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.
There is a good reason for SPYR’s big move; the two major catalysts are the $7.4 million dollars sitting in SPYR treasury and the recent $1.6 million capital raise completed with 4mm restricted shares at $0.40 according to the 8k on January 9.
The shell was incorporated on January 6, 1988, under the laws of the State of Delaware, as a wholly-owned subsidiary of Debbie Reynolds Hotel and Casino, Inc. DRHC caused the Company to register 1,777,000 shares of its initial 12,450,000 issued and outstanding shares of common stock with the Securities and Exchange Commission on Form S-18. DRHC then distributed the registered shares to DRHC stockholders.
In recent news SPYR said provided an update to shareholders highlighting accomplishments over the preceding twelve months, and providing the following 2015 forecast to shareholders and the investment community:
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The Company has worked diligently for many years to maintain a fiscally responsible funding method, and Eat at Joe’s is pleased to announce that it has accomplished that objective. As the Company enters 2015, management will explore potential new business opportunities in an effort to diversify the Eat at Joe’s business model.
In November SPYR announced it has added Reinout Te Brake to the advisory board of its wholly owned subsidiary, SPYR APPS, LLC. Mr. Te Brake was an early strategist at Spil Games, the Chairman at iQU and is the current CEO of Get Social. Mr. Te Brake joins Mr. Juhana Kotilainen, former Rovio Entertainment Marketing Veteran and current CEO of Silvermile, on SPYR APPS’ growing advisory board of Mobile Game Industry experts.
Reinout Te Brake is regarded as one of the most innovative thought leaders in the gaming industry. He is a successful entrepreneur, kickstarter, prolific investor and business leader. He currently mentors and invests in several early stage companies in his native Netherlands and across the world. He also sits on the advisory board of MAG Interactive, which created, among others, the successful ‘Ruzzle’ game (downloaded more than 80 million times and one of the most played mobile word games ever made).
On August 11 SPYR announced its publishing and development teams will be attending three major games conferences in Cologne, Germany from August 15-21 to showcase both the upcoming major content update to its most recently published game, Pocket Starships, and the unique cross-platform, real-time engine upon which the game is built.
SPYR will participate in GDC (Game Developers Conference) Europe, Gamescom 2016 and RESPAWN. At Gamescom, SPYR will be located in the Media Lounge Booth, Hall 2.2 | Booth C023 / B022 – Business Area.
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Trading at a $55 million market valuation SPYR is back on the run again and it is easy to see why; this is a fiscally responsible bb Company with a real business that has small but growing revenues. The Company has $7.4 million in the treasury with an eye on expansion. One really does not have to look much farther than the 8k from January 9; the fact that accredited investors were willing to put up $1.6 million for restricted stock of SPYR at $0.40 speaks volumes to the future of this Company. We will be updating on SPYR when more details emerge so make sure you are subscribed to Microcapdaily so you know what’s going on with SPYR.
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Disclosure: we hold no position in SPYR either long or short and we have not been compensated for this article.