DENVER, CO / ACCESSWIRE / January 5, 2021 / SPYR, Inc. dba SPYR Technologies (OTC PINK:SPYR), a holding company engaged in building a portfolio of technology companies through targeted acquisitions, today provided a year-end 2020 update to shareholders.
Despite the many COVID-19 challenges in 2020, SPYR remained busy and productive throughout the year, the highlights of which include:
- Received its MFi Development License from Apple, marking a crucial step toward developing, designing and releasing future Applied MagiX-branded products, while also allowing for the use of the familiar Apple badging on its products (Link to prior Release):
- Established a representative office in Hong Kong. (Link to prior Release)
- Contracted with a local facilitator in Hong Kong.
- Kickstarted development of initial premium and proprietary HomeKit products.
- Identified product categories to pursue and develop.
- Adding two new members to SPYR's Board of Directors with highly relevant backgrounds and experience following the resignation of James Mylock, Jr., who served on the Board for more than 20 years. (Link to prior Release JF; Link to Prior Release TM)
- Currently engaged in discussions with an overseas company regarding an opportunity for SPYR to market/sell/distribute its line of Artificial Intelligence (AI) and other products in the US.
Applied MagiX Inc. focuses on the segment of the market related to the development, manufacture, and sale of devices and accessories specifically built on Apple's HomeKit® framework. These products work within the Apple® HomeKit ecosystem and are exclusive to the Apple market and its consumers. Following the acquisition, Applied Magix has:
- Received its MFi Development License from Apple, marking a crucial step toward developing, designing and releasing future Applied MagiX-branded products, while also allowing for the use of the familiar Apple badging on its products (Link to prior Release):
- Established a representative office in Hong Kong. (Link to prior Release)
- Contracted with a local facilitator in Hong Kong.
- Kickstarted development of initial premium and proprietary HomeKit products.
- Identified product categories to pursue and develop.
- Adding two new members to SPYR's Board of Directors with highly relevant backgrounds and experience following the resignation of James Mylock, Jr., who served on the Board for more than 20 years. (Link to prior Release JF; Link to Prior Release TM)
- Currently engaged in discussions with an overseas company regarding an opportunity for SPYR to market/sell/distribute its line of Artificial Intelligence (AI) and other products in the US.
According to James R. Thompson, SPYR's CEO & President, "The SPYR team has worked hard and made personal sacrifices during 2020 to lay the foundation and establish an infrastructure for the Company's new direction.
"Having accomplished that, during the first quarter of 2021, we expect to see Applied Magix ordering products for resale, establishing its first distribution channel(s) and beginning sales. At the same time, we will continue our ongoing discussions with an overseas company regarding an opportunity for SPYR to market/sell/distribute its line of Artificial Intelligence (AI) and other products in the US and continue our search for additional opportunities for revenue under the SPYR umbrella.
"I want to thank all of our loyal shareholders for their past and current support as we put 2020 behind us and look ahead to a profitable future."
About SPYR Technologies
SPYR Technologies, Inc. is a holding company engaged in building a portfolio of technology companies through targeted acquisitions. The Company is currently exploring acquisition opportunities in the technology industry.
Safe Harbor Statement:
This release contains forward-looking statements that are based upon current expectations or beliefs, as well as a number of assumptions about future events. Although we believe that the expectations reflected in the forward-looking statements and the assumptions upon which they are based are reasonable, we can give no assurance or guarantee that such expectations and assumptions will prove to have been correct. Forward-looking statements are generally identifiable by the use of words like "may," "will," "should," "could," "expect," "anticipate," "estimate," "believe," "intend," or "project" or the negative of these words or other variations on these words or comparable terminology. The reader is cautioned not to put undue reliance on these forward-looking statements, as these statements are subject to numerous factors and uncertainties, including but not limited to: adverse economic conditions, competition, adverse federal, state and local government regulation, international governmental regulation, inadequate capital, inability to carry out research, development and commercialization plans, loss or retirement of key executives and other specific risks. To the extent that statements in this press release are not strictly historical, including statements as to revenue projections, business strategy, outlook, objectives, future milestones, plans, intentions, goals, future financial conditions, events conditioned on stockholder or other approval, or otherwise as to future events, such statements are forward-looking, and are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. The forward-looking statements contained in this release are subject to certain risks and uncertainties that could cause actual results to differ materially from the statements made. Readers are advised to review our filings with the Securities and Exchange Commission that can be accessed over the Internet at the SEC's website http://www.sec.gov, as well as SPYR's website https://www.spyr.com, and SPYR's Twitter account https://twitter.com/spyrinc.
Investor Relations Contact:
(303) 991-8000
contact@spyr.com
SOURCE: SPYR, Inc.
View source version on accesswire.com:
https://www.accesswire.com/623048/SPYR-Technologies-Announces-Year-End-2020-Results
