SPYR Stock Rises on News of New Game Acquisition

The news out of Denver just keeps getting better and better. SPYR, Inc. (OTC: SPYR) the Denver based mobile game & app development and publishing company, today announced that its wholly owned subsidiary, SPYR APPS, LLC, has acquired all assets related to the game Battlewack: Idle Lords.

Battlewack: Idle Lords is a free-to-play battle game in which players hire a team of heroes to crush waves of their enemies. The game was developed by Kemojo Studios and is similar in concept to Kemojo’s successful game, Tap Cats: Idle Warfare, though Battlewack has a completely different design concept targeting more of a mid-core audience and allowing for grouped multi-player game play.

SPYR has spent the first half of 2017 focusing on positioning itself in the burgeoning esports market with significant enhancements to its flagship game, Pocket Starships. In addition to PvP (player vs. player) functionality improvements, SPYR signed an agreement with CBS Entertainment to license Star Trek intellectual property allowing Pocket Starships players to staff their ships with their favorite Star Trek characters from the Star Trek TV series franchise (Star Trek: The Next Generation, Star Trek: Deep Space Nine and Star Trek: Voyager), exploring new sectors and engaging in exciting battles.

Unlike Pocket Starships which is a highly interactive game, Battlewack falls into the “idle tapper genre,” which is very popular and perfect for mobile devices as it allows the game to progress while the player is away. The heroes will continue to battle in “offline mode,” earning experience points and gold. The player can then log back into the game at any time to spend those earnings on upgrading the heroes allowing them to defeat stronger enemies. Like the game play in Tap Cats, heroes can be collected, upgraded and evolved. Players can purchase “rare” heroes to speed up their progression and defeat more complex challenges.

Freemium games which allow payers to purchase enhancements and advancements within the game are where developer and publishing companies make their money. Mobile games with a high level of interactivity and constant updates are the games that keep gamers enthralled and playing. Within one month of releasing a game update, SPYR reported a 23% increase in the average revenue from each paying user, and a 7.8% increase in the average spend on each in-app purchase.

James R. Thompson, SPYR’s CEO and President states, “The acquisition of the Battlewack assets gives us a solid framework and established systems on which we can further develop this and other titles. We plan on bringing Battlewack to market later this year. As we continue to execute on our strategy of building a diversified game portfolio, as an “idle tapper” game, Battlewack will add a new game genre to our portfolio.”

SPYR’s current market cap is $83.5 million. Earlier this year the company divested itself of holdings not related to the mobile game industry in order to better position itself as the company moves into the esports arena, an area gaining attention and momentum, particularly on the recent news that sports giants like NE Patriots owner Robert Kraft and NY Mets COO Jeff Wilpon had both bought franchise teams of the professional esports game Overwatch. As of market close today, SPYR stock was up 6.0%.