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Tapinator, Inc. (OTC:TAPM) Breaking News - November 14, 2016

 

Tapinator Releases Q3 2016 Results - Revenues Increase 49% Year-Over-Year to $1,083,000 
 


New York, NY – PRNewswire -  November 14, 2016 - Tapinator, Inc. (OTC: TAPM), a publisher of mobile games on the iOS, Google Play and Amazon platforms, today announced financial results and the filing of its quarterly report for the period ended September 30, 2016. The quarterly report and unaudited financial statements may be found at http://www.otcmarkets.com/stock/TAPM/filings .

“Tapinator demonstrated strong growth in the third quarter of 2016,” stated Tapinator CEO, Ilya Nikolayev. “Driven by more than 21 million average monthly active users, our third quarter revenues grew 49% year-over-year to approximately $1,083,000, representing our ninth consecutive quarter of at least double-digit year-over-year revenue growth. Our revenue expansion can be attributed primarily to the broadening of our Rapid-Launch Games portfolio and, within our Full-Featured Games division, to the late Q2 launch of Combo Quest 2 on iOS and the continued growth of our Video Poker Classic title across all major mobile platforms. In addition to our strong revenue growth, Tapinator is also pleased to announce adjusted EBITDA (a non-GAAP earnings measure) of approximately $277,000 in the third quarter of 2016, an increase of 276% year-over-year, and our tenth consecutive quarter of positive adjusted EBITDA.

We were very pleased with our third quarter results as we saw significant year-over-year growth in player engagement, revenue and adjusted EBITDA, combined with increased diversification of our revenue base. However, within our Rapid-Launch business, new player downloads on the Google Play platform slowed, beginning midway through the third quarter, causing us to take a more cautious outlook toward our upcoming fourth quarter performance as more fully described in our Forward Guidance below."

Financial Highlights
• Quarterly revenues of $1,083,176; up 49% year-over-year
• Nine-month year-to-date revenues of $2,994,262; up 71% year-over-year
• Quarterly adjusted EBITDA* (a non-GAAP measure) of $277,869; up 276% year-over-year
• Nine-month year-to date adjusted EBITDA* (a non-GAAP measure) of $740,490; up 98% year-over-year
• $750,976 in cash and cash equivalents as of September 30, 2016

* A table has been included later in this press release with non-GAAP adjustments to the Company's net loss, resulting in positive adjusted EBITDA for the relevant periods.

Product Highlights
The Company ended Q3 with 272 active games, of which 28 were released during the quarter. As of September 30, 2016, Tapinator had 81 titles within its portfolio that had each achieved at least one million downloads, up from 66 games that had reached this milestone at the end of Q2 2016. Within our Rapid-Launch Games business, Whirlpool Car Derby 3D, Multi-Storey Car Parking 3D, and City Car Stunts 3D performed especially well in Q3, achieving over 4.5 million combined downloads and 90,000 combined daily active unique (DAU) players in Q3. These leading titles also illustrate the diversity of the Company’s portfolio maturity as these games were released in July 2016, March 2016 and January 2015, respectively.

The Company continues to dedicate substantial resources to its Full-Featured Games business and is making larger, more concentrated investments into games that management believes have ‘evergreen’ characteristics and/or major ‘hit’ potential. To that end, the Company did not release any new Full-Featured Games in Q3, but instead focused on important upcoming game releases for Q4 2016 and Q1 2017.

On December 8, 2016, the Company will be releasing its ROCKY TM mobile game. The title, built in partnership with MGM, is based on the legendary movie franchise and is being released in conjunction with the 40th anniversary of the original motion picture. The game, currently in soft-launch in Canada and Australia, will feature multiplayer functionality, collectible fighter cards, and time-tap mechanics. The Company believes that these systems will equip the ROCKY TM mobile game with best-in-class monetization and player engagement.

Also in Q4, the Company will launch Combo Quest 2, the freemium sequel to our original paid game, Combo Quest, on the Google Play platform. The sequel, which was featured as a ‘Best New Game’ on iOS and has generated in excess of 500,000 installs to date, was well received by players who have given the game a 4.5 (out of 5.0) average review score. The Google Play version will feature additional improvements to the game that are designed to increase both player monetization and enjoyment.

Looking beyond this year, in Q1 2017 we will be launching Big Sport Fishing 2017 (BSF 2017) in partnership with RocketMind. BSF 2017, currently in soft-launch in Canada, was originally scheduled for a 2016 release, but based on initial player feedback, was delayed to allow for further game improvements prior to global launch. This product-centric decision was taken in the context of what management believes to be the enormous size and long-term opportunity of the virtual fishing market on mobile. Also in Q1 2017, we will be launching a unique Solitaire game, the name of which has not yet been disclosed. Solitaire, according to App Store and Google Play leaderboards, is the most popular category of card games on mobile and, recently, several themed solitaire games have proven out the category’s top grossing potential. Our new solitaire title will combine the classic game with a theme that we believe will resonate widely, across age groups and geographic regions.

Player & Game Metrics
• Average DAUs – 1.2 million; up 100% year-over-year
• Average MAUs – 21.5 million; up 110% year-over-year
• Average New Daily Downloads – 626,000; up 51% year-over-year
• Cumulative Player Downloads – 324 million as of September 30, 2016; up 140% year-over-year
• Game Library – 272 active titles as of September 30, 2016; up from 158 year-over-year
• Game Diversification – No single game accounted for more than 7% of total revenues during the nine-month period ended September 30, 2016

Financial Results* (unaudited)

*Certain reclassifications have been made to the 2015 data to conform to the current year presentation. These reclassifications had no effect on reported income (losses).

Quarterly Summary of Results
Tapinator, Inc. recorded gross revenues of $1,083,176 and a net loss of $1,090,762 for the three-month period ended September 30, 2016. This compares to gross revenue of $728,128 and net loss of $582,390 for the same period in 2015. The net loss increase was primarily attributable to non-cash financing related charges associated with the refinancing of the Company’s Senior Secured Convertible Debenture which was completed during the third quarter of 2016.

For the nine-month period ended September 30, 2015, the Company recorded gross revenues of $2,994,262 and a net loss of $1,901,009. This compares to gross revenue of $1,755,369 and net loss of $875,541 for the same period in 2015. The net loss increase was primarily attributable to non-cash financing related charges associated with the refinancing of the Company’s Senior Secured Convertible Debenture which was completed during the third quarter of 2016, together with increased general and administrative, and marketing and public relations costs.

For the three-month period ended September 30, 2016, the Company generated operating income of $53,232, as compared to an incurred operating loss of $173,038 for the comparable three-month period ended September 30, 2015. The increase in operating income is primarily due to operating leverage on the higher level of revenues achieved during the period.

For the nine-month period ended September 30, 2016, the Company generated operating income of $60,822, as compared to an incurred operating loss of $254,118 for the comparable nine-month period ended September 30, 2015. The increase in operating income is primarily due to operating leverage on the higher level of revenues achieved during the period.

For the three-month period ended September 30, 2016, the Company achieved adjusted EBITDA (a non-GAAP earnings measure discussed below) of $277,869 (25.6%), as compared to adjusted EBITDA of $73,914 (10.2%) for the comparable three-month period ended September 30, 2015. The increase in adjusted EBITDA is primarily due to operating leverage on the higher level of revenues achieved during the period.

For the nine-month period ended September 30, 2016, the Company achieved adjusted EBITDA (a non-GAAP earnings measure discussed below) of $740,490 (24.7%), as compared to adjusted EBITDA of $373,188 (21.3%) for the comparable nine-month period ended September 30, 2015. The increase in adjusted EBITDA is primarily due to operating leverage on the higher level of revenues achieved during the period.

Tapinator’s cash balance decreased to $750,976 as of September 30, 2016 from the period ended December 31, 2015, when the cash balance was $1,487,196. The decrease in cash is primarily due to a principal repayment of $560,000 and interest payments of $89,600 related to the Company’s Senior Secured Convertible Debenture. As previously disclosed in a press release issued on August 2, 2016, the Company successfully refinanced this Debenture in July 2016, resulting in a new Senior Secured Convertible Debenture that matures in May 2018.

Forward Guidance
As a result of certain changes in the Google Play store that occurred during Q3 2016, the discoverability of the Company’s Rapid-Launch games was and continues to be adversely affected, resulting in a corresponding decline in new player downloads. Historically, the Company has evolved its game product and marketing strategies to adapt to the changing marketplaces as governed by the platform operators, and we expect to continue to do so in the future. However, given the current uncertainty regarding the effects of these most recent platform changes, combined with the global launch delays of BSF 2017 and Solitaire from Q4, 2016 to Q1, 2017, we believe a more cautious outlook toward our upcoming fourth quarter performance is merited. Accordingly, Tapinator now expect revenue results in the range of $3.7 million - $4.3 million for 2016, representing an annualized organic revenue growth rate range of 50%-75%, down from previously issued guidance of $4.0 million - $4.5 million. The Company continues to expect operating income for the year to be between breakeven and $300,000, and continues to target an adjusted EBITDA (a non-GAAP measure) percentage range of 23%-27% for 2016. The Company continues to expect net losses in 2016 of $2.0 million - $2.3 million, primarily as a result of financing charges related to the recent successful refinancing of the Company’s $2.4 million Convertible Debenture, including approximately $2.1 million in expected non-cash charges.

About Tapinator
Tapinator (OTC: TAPM) develops and publishes mobile games on the iOS, Google Play, and Amazon platforms. Tapinator's portfolio includes more than 250 mobile gaming titles that have achieved over 300 million cumulative player downloads, primarily within the Simulation, Arcade, Role Playing, Casino and Sports genres. Tapinator generates revenues through the sale of branded advertising, paid downloadable games and premium in-game content. Founded in 2013, Tapinator is headquartered in New York, with product development teams located in Germany, Canada, Indonesia, Pakistan, and the United States. For a full listing of Tapinator game titles and to view the Company’s most recent investor presentation, please go to http://tapinator.com/.

Key Operating Metrics
We manage our business by tracking several operating metrics: ‘DAUs,’ which measure daily active users of our games, ‘MAUs,’ which measure monthly active users of our games, ‘Downloads,’ which measure non-unique downloads of our games, each of which is recorded by third party systems and our internal analytics system. The numbers for these operating metrics are calculated using internal company data, based on tracking of user account activity. We believe that the numbers are reasonable estimates of our user base for the applicable period of measurement; however, factors relating to user activity and systems may impact these numbers.

Forward Looking Statements
To the extent that statements contained in this press release are not descriptions of historical facts regarding Tapinator, they are forward-looking statements reflecting the current beliefs and expectations of management made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Words such as “believe,” "may," "will" "expect," "anticipate," "estimate," "intend," and similar expressions (as well as other words or expressions referencing future events, conditions or circumstances) are intended to identify forward-looking statements. Our statements regarding our financial outlook for the full fiscal year 2016 contained in this press release are forward-looking statements. Additional examples of forward-looking statements contained in this press release include, among others, statements regarding our ability to to continue to deliver strong growth during the second half of this year, and our expectations regarding consumer acceptance and monetization of our mobile games. Forward-looking statements in this release involve substantial risks and uncertainties that could cause the development and monetization of our mobile games, future results, performance or achievements to differ significantly from those expressed or implied by the forward-looking statements. Such risks and uncertainties include, among others, the uncertainties inherent in the hits nature of the mobile gaming business. Tapinator undertakes no obligation to update or revise any forward-looking statements. The quoting and trading of the company's common stock on the OTC Market Group's OTC Link quotation system is often thin and characterized by wide fluctuations in trading prices, due to many factors that may have little to do with the company's operations or business prospects. As a result, there may be volatility in the market price of the shares of the company's common stock for reasons unrelated to operating performance. Moreover, the OTC Market Group's OTC Link quotation system is not a stock exchange, and trading of securities on it is often more sporadic than trading of securities listed on the NASDAQ Stock market or another securities exchange. Accordingly, stockholders may have difficulty reselling any of their shares. For a further description of the risks and uncertainties that could cause actual results to differ from those expressed in these forward-looking statements, as well as risks relating to the business of the company in general, see Tapinator's Risk Factors which are available at http://www.tapinator.com/disclaimers .

Non-GAAP Financial Measure
We have provided in this release the non-GAAP financial measure of adjusted EBITDA, as a supplement to the consolidated financial statements, which are prepared in accordance with United States generally accepted accounting principles ("GAAP"). Management uses adjusted EBITDA internally in analyzing our financial results to assess operational performance and liquidity. The presentation of adjusted EBITDA is not intended to be considered in isolation or as a substitute for the financial information prepared in accordance with GAAP. We believe that both management and investors benefit from referring to adjusted EBITDA in assessing our performance and when planning, forecasting and analyzing future periods. We believe adjusted EBITDA is useful to investors because it allows for greater transparency with respect to key financial metrics we use in making operating decisions and because our investors and analysts use them to help assess the health of our business. We have provided reconciliations between our historical 2016 and 2015 adjusted EBITDA to the most directly comparable GAAP financial measures below. Some limitations of adjusted EBITDA:

• Adjusted EBITDA does not include the impact of stock-based expense, impairment of intangible assets previously acquired, acquisition-related transaction expenses, contingent consideration fair value adjustments and restructuring expense;
• Adjusted EBITDA does not reflect income tax expense;
• Adjusted EBITDA does not include other income or expense, which includes foreign exchange gains and losses and interest income or expense;
• Adjusted EBITDA excludes depreciation and amortization of intangible assets. Although depreciation and amortization are non-cash charges, the assets being depreciated and amortized may have to be replaced in the future; and
• Other companies, including companies in our industry, may calculate adjusted EBITDA differently or not at all, which will reduce their usefulness as a comparative measure.


Because of these limitations, you should consider adjusted EBITDA along with other financial performance measures, including revenue, net income (loss), diluted net income (loss) per share, cash flow from operations, GAAP operating expense, GAAP operating margin and our other financial results presented in accordance with GAAP. See the GAAP to non-GAAP reconciliations below for further details:

Reconciliation of GAAP to Non-GAAP Results (unaudited)

CONTACT
Tapinator Investor Relations
investor.relations@tapinator.com
(914) 930-6232

SOURCE: Tapinator, Inc.
 

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Recent TAPM News

 

Tapinator Surpasses 300 Million Cumulative Player Downloads and 20 Million MAU 
 

Company Provides Q3 Game Network Update


New York, NY – PRNewswire -  October 6, 2016 - Tapinator, Inc. (OTC: TAPM), a publisher of mobile games on the iOS, Google Play, and Amazon platforms, today is pleased to announce updated game network operating metrics as of the end of Q3 2016, including:

  • 324 million cumulative player downloads across the network, up 140% year-over-year
  • 272 active games as of September 30, 2016 including 28 games launched during the third quarter of 2016
  • 81 games that have each achieved over 1.0 million player downloads
  • 21.5 million average monthly active users (MAU) during the quarter, up 110% year-over-year
  • 1.2 million average daily active users (DAU) during the quarter, up 100% year-over-year
  • 626,000 average daily downloads across the network, up 51% year-over-year

“Driven primarily by 28 new games from within our Rapid-Launch Games division, the size of our games portfolio and our user-base continued to grow significantly during the third quarter of 2016,” said Tapinator CEO, Ilya Nikolayev. “Additionally, we continued to show triple digit growth of our key player engagement metrics, including Daily Active Users (DAU) and Monthly Active Users (MAU). I’d like to congratulate the entire Tapinator team and shareholder base on the achievement of the 300 million player download and 20 million MAU milestones. There are very few companies within the mobile gaming industry that have achieved this level of scale, and we are proud to be part of that select peer group.”

Additional financial performance metrics will be provided as part of Tapinator’s complete third-quarter 2016 operating results, which are scheduled to be released in mid-November.

About Tapinator
Tapinator (OTC: TAPM) designs, develops, and publishes mobile games on the iOS, Google Play, and Amazon platforms. Tapinator's portfolio includes more than 250 mobile gaming titles that have achieved over 300 million cumulative player downloads, primarily within the Simulation, Arcade, Role Playing, Casino and Sports genres. Tapinator generates revenues through the sale of branded advertising, paid downloadable games and premium in-game content. Founded in 2013, Tapinator is headquartered in New York, with product development teams located in Germany, Canada, Indonesia, Pakistan, and the United States. For a full listing of Tapinator game titles and to view the Company’s most recent investor presentation, please go to http://tapinator.com/.

Forward Looking Statements
To the extent that statements contained in this press release are not descriptions of historical facts regarding Tapinator, they are forward-looking statements reflecting the current beliefs and expectations of management made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Words such as “believe,” "may," "will" "expect," "anticipate," "estimate," "intend," and similar expressions (as well as other words or expressions referencing future events, conditions or circumstances) are intended to identify forward-looking statements. Forward-looking statements in this release involve substantial risks and uncertainties that could cause the development and monetization of our mobile games, future results, performance or achievements to differ significantly from those expressed or implied by the forward-looking statements. Such risks and uncertainties include, among others, the uncertainties inherent in the hits nature of the mobile gaming business. Tapinator undertakes no obligation to update or revise any forward-looking statements. The quoting and trading of the company's common stock on the OTC Market Group's OTC Link quotation system is often thin and characterized by wide fluctuations in trading prices, due to many factors that may have little to do with the company's operations or business prospects. As a result, there may be volatility in the market price of the shares of the company's common stock for reasons unrelated to operating performance. Moreover, the OTC Market Group's OTC Link quotation system is not a stock exchange, and trading of securities on it is often more sporadic than trading of securities listed on the NASDAQ Stock market or another securities exchange. Accordingly, stockholders may have difficulty reselling any of their shares. For a further description of the risks and uncertainties that could cause actual results to differ from those expressed in these forward-looking statements, as well as risks relating to the business of the company, see Tapinator's Risk Factors which are available at http://www.tapinator.com/disclaimers.

CONTACT:
Tapinator Investor Relations
investor.relations@tapinator.com
(914) 930-6232
SOURCE Tapinator, Inc.



 

Tapinator Updates 2016 Guidance - Company Also Provides Update On Major Upcoming Game Launches 
 

Tapinator continues to expect revenue results in the range of $4.0 million - $4.5 million for 2016, representing an annualized organic revenue growth rate range of 63%-84%.


New York, NY – PRNewswire -  September 20, 2016 - Tapinator, Inc. (OTC: TAPM), a leading company within the mobile gaming industry, is providing an update to its previously issued financial guidance for 2016. Tapinator continues to expect revenue results in the range of $4.0 million - $4.5 million for 2016, representing an annualized organic revenue growth rate range of 63%-84%. The Company now expects operating income for the year to be between breakeven and $300,000, up from previously issued breakeven guidance, and is now targeting an Adjusted EBITDA (a non-GAAP measure) percentage range of 23%-27% for 2016, changed from previously issued guidance of 24%. The Company now expects to report net losses in 2016 of $2.0 million - $2.3 million, up from previously issued net loss guidance of $1.6 million, primarily as a result of financing charges related to the recent successful refinancing of the Company's $2.4 million convertible debenture, including approximately $2.1 million in expected non-cash charges.

Tapinator is also pleased to provide the following timing updates for some of its most significant upcoming Full-Featured global game launches:

Big Sport Fishing 2017 - November 10, 2016

The freemium sequel to Big Sport Fishing, a game with 15 million player downloads. The US fishing market is larger than the hunting market: $41.7 billion vs. $31.8 billion. Given the quality of our game, this statistic and the success of hunting games on mobile, we believe this to be a significant opportunity for the Company.

Solitaire (game named to be disclosed closer to launch) - December 1, 2016

Solitaire is the most popular category of card games on mobile and, recently, several themed solitaire games have proven out the category's top grossing potential. Our new solitaire title will combine the classic game with a theme that we believe will resonate widely, across age groups and geographic regions.

ROCKY - December 8, 2016

The ROCKY film series has grossed over $1 billion at the worldwide box office. This freemium game features collectible fighters (including the original motion picture characters), multiplayer fights, exciting training sessions, and best-in-class engagement/monetization mechanics.

About Tapinator

Tapinator (OTC: TAPM) designs, develops, and publishes mobile games on the iOS, Google Play, and Amazon platforms. Tapinator's portfolio includes more than 200 mobile gaming titles that have achieved over 250 million cumulative player downloads, primarily within the Simulation, Arcade, Role Playing, Casino and Sports genres. Tapinator generates revenues through the sale of advertising within its games, the sale of paid downloadable games, and the sale of additional in-game content. Founded in 2013, Tapinator is headquartered in New York, with product development teams located in Germany, Canada, Indonesia, Pakistan, and the United States. For a full listing of Tapinator game titles and to view the Company's most recent investor presentation, please go to http://tapinator.com/.

Forward Looking Statements

To the extent that statements contained in this press release are not descriptions of historical facts regarding Tapinator, they are forward-looking statements reflecting the current beliefs and expectations of management made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Words such as "believe," "may," "will" "expect," "anticipate," "estimate," "intend," and similar expressions (as well as other words or expressions referencing future events, conditions or circumstances) are intended to identify forward-looking statements. Our statements regarding our financial outlook for the full fiscal year 2016 contained in this press release are forward-looking statements. Forward-looking statements in this release involve substantial risks and uncertainties that could cause the development and monetization of our mobile games, future results, performance or achievements to differ significantly from those expressed or implied by the forward-looking statements. Such risks and uncertainties include, among others, the uncertainties inherent in the hits nature of the mobile gaming business. Tapinator undertakes no obligation to update or revise any forward-looking statements. The quoting and trading of the company's common stock on the OTC Market Group's OTC Link quotation system is often thin and characterized by wide fluctuations in trading prices, due to many factors that may have little to do with the company's operations or business prospects. As a result, there may be volatility in the market price of the shares of the company's common stock for reasons unrelated to operating performance. Moreover, the OTC Market Group's OTC Link quotation system is not a stock exchange, and trading of securities on it is often more sporadic than trading of securities listed on the NASDAQ Stock market or another securities exchange. Accordingly, stockholders may have difficulty reselling any of their shares. For a further description of the risks and uncertainties that could cause actual results to differ from those expressed in these forward-looking statements, as well as risks relating to the business of the company in general, see Tapinator's Risk Factors which are available at http://www.tapinator.com/disclaimers.

CONTACT:
Tapinator Investor Relations
investor.relations@tapinator.com
+1-914-930-6232
SOURCE Tapinator, Inc..
 

Tapinator Releases Q2 2016 Results - Q2 Revenues Grow 73% Year-Over-Year to $1,062,000 
 


New York, NY – PRNewswire -  August 15, 2016 - Tapinator, Inc. (OTC:TAPM), an emerging growth company within the mobile gaming industry, today announced financial results and the filing of its quarterly report for the three months ended June 30, 2016. The quarterly report and unaudited financial statements may be found at http://www.otcmarkets.com/stock/TAPM/filings.

“Tapinator continued to show rapid business expansion in the second quarter of 2016,” stated Tapinator CEO, Ilya Nikolayev. Driven by more than 18 million average monthly active users, our second quarter revenues grew 73% year-over-year to approximately $1,062,000, representing our eighth consecutive quarter of at least double-digit year-over-year revenue growth. Our revenue expansion in the quarter can be primarily attributed to the continued broadening of our Rapid-Launch Games portfolio, as well as to the highly successful launch of our Video Poker Classic title within our Full-Featured Games division. In addition to our strong revenue growth, Tapinator is also pleased to announce adjusted EBITDA (a non-GAAP earnings measure) of approximately $242,000 in the second quarter of 2016, an increase of 62% year-over-year, and our ninth consecutive quarter of positive adjusted EBITDA.

We are very pleased with our second quarter results as we saw significant year-over-year player and revenue growth rates combined with increased diversification of our revenue base. Player engagement accelerated toward the end of quarter and thus we believe the Company is well positioned to continue to deliver strong revenue and EBITDA growth during the second half of this year."

Financial Highlights
• Quarterly revenues of $1,062,474; up 73% year-over-year
• Six-month year-to-date revenues of $1,911,086; up 86% year-over-year
• Quarterly adjusted EBITDA* (a non-GAAP measure) of $242,111; up 62% year-over-year
• Six-month year-to date adjusted EBITDA* (a non-GAAP measure) of $462,620; up 55% year-over-year
• $834,736 in cash and cash equivalents as of June 30, 2016


* A table has been included later in this press release with non-GAAP adjustments to the Company's net loss, resulting in positive adjusted EBITDA for the relevant periods.

Product Highlights
The Company ended Q2 with 244 active games, of which 31 were released in the quarter. As of June 30, 2016, Tapinator had 66 titles in its portfolio that had each achieved at least one million downloads, up from 51 games that had reached this milestone at the end of Q1 2016. Within our Rapid-Launch Games business, Crocodile Attack 2016, Multi-Storey Car Parking 3D, and Extreme Car Stunts 3D performed especially well, with over 9.5 million downloads and 180,000 daily active unique (DAU) players in Q2. These three titles illustrate the diversity of the Company’s portfolio as they encompass three genres: Parking, Stunts, and Animal Simulation.

The Company continues to invest significant resources into its Full-Featured Games business. Specifically, we are selectively developing and/or publishing a small number of full-featured games each year that we believe have ‘evergreen’ characteristics and/or major ‘hit’ potential. Specific highlights from these efforts include the following:
In early Q2, the Company released its second video poker game, Video Poker Classic. In just four months since Video Poker Classic’s launch, the title has quickly risen to become the #1 Video Poker game on iPad and a top 5 Video Poker game on iPhone, Google Play and Amazon Kindle. According to AppAnnie, the game is a Top 200 grossing Casino property on both iOS and Google Play and we expect the game, which has ‘evergreen’ characteristics, to contribute meaningfully to the Company’s revenues for 2016.

In late Q2, the Company launched Combo Quest 2, the freemium sequel to our original paid game, Combo Quest. The sequel, which was featured as a ‘Best New Game’ on iOS and has generated in excess of 500,000 installs to date, was well received by players who have given the game a 4.5 (out of 5.0) average review score. Unfortunately, the monetization of the game did not meet internal expectations and we are working on additional improvements to the game prior to its upcoming Google Play launch.

In Q3, we will be launching Big Sport Fishing 2017 in partnership with RocketMind. Given the recent success of the Pokémon Go mobile game from Nintendo and Niantic, we are enthused by the market’s embrace of augmented reality. In Big Sport Fishing 2017, we believe players will enjoy using their phone as a virtual fishing rod to tackle gorgeous global fishing environments around the world, 24/7, and from their own home or office.

Finally, during Q4, the Company will be releasing its ROCKY TM game. The title, built in partnership with MGM, is based on the legendary movie franchise. The game will feature multiplayer functionality, collectible fighter cards, and time-tap mechanics. The Company believes that these systems will equip the ROCKY TM game with best-in-class in-app purchase monetization and player engagement.

Player & Game Metrics
• Average DAUs – 1.1 million; up 127% year-over-year
• Average MAUs – 18.3 million; up 136% year-over-year
• Average New Daily Downloads – 629,000; up 78% year-over-year
• Cumulative Downloads – 267 million as of June 30, 2016; up 175% year-over-year, and up 27% sequentially
• Game Library – 244 active titles as of June 30, 2016; up from 128 year-over-year, and up from 214 sequentially
• Game Diversification – No single game accounted for more than 8% of total revenues during the six-month period ended June 30, 2016

Financial Results* (unaudited)

* Certain reclassifications have been made to the 2015 data to conform to the current year presentation. These reclassifications had no effect on reported income (losses).

Quarterly Summary of Results

Tapinator, Inc. recorded gross revenues of $1,062,474 and a net loss of $407,430 for the three-month period ended June 30, 2016. This compares to revenue of $615,358 and net loss of $298,990 for the same period in 2015. The net loss was primarily attributable to non-cash financing related charges associated with the Company’s $2.0 million convertible debenture financing completed during the second quarter of 2015, together with increased marketing costs and increased amortization of capitalized software costs.

For the six-month period ended June 30, 2015, the Company recorded gross revenues of $1,911,086 and a net loss of $810,247. This compares to revenue of $1,027,241 and net loss of $293,149 for the same period in 2015. The net loss was primarily attributable to non-cash financing related charges associated with the Company’s $2.0 million convertible debenture financing completed during the second quarter of 2015, together with increased marketing costs and increased amortization of capitalized software costs.

For the three-month period ended June 30, 2016, the Company generated operating income of $694, as compared to an incurred operating loss of $143,319 for the comparable three-month period ended June 30, 2015. The increase in operating income is primarily due to operating leverage on the higher level of revenues.

For the six-month period ended June 30, 2016, the Company generated operating income of $7,590, as compared to an incurred operating loss of $81,078 for the comparable six-month period ended June 30, 2015. The increase in operating income is primarily due to operating leverage on the higher level of revenues.

For the three-month period ended June 30, 2016, the Company achieved adjusted EBITDA (a non-GAAP earnings measure discussed below) of $242,111, as compared to adjusted EBITDA of $187,591 for the comparable three-month period ended June 30, 2015. The increase in adjusted EBITDA is primarily due to operating leverage on the higher level of revenues.

For the six-month period ended June 30, 2016, the Company achieved adjusted EBITDA (a non-GAAP earnings discussed below) of $462,620, as compared to adjusted EBITDA of $299,273 for the comparable six-month period ended June 30, 2015. The increase in adjusted EBITDA is primarily due to operating leverage on the higher level of revenues.

Tapinator’s cash balance decreased to $834,736 as of June 30, 2015 from the period ended December 31, 2015, when the cash balance was $1,487,196. The decrease in cash is primarily due to a principal repayment of $560,000 and interest payments of $89,600 related to the Company’s Senior Secured Convertible Debenture. As previously disclosed in a press release dated August 2, 2016, the Company successfully refinanced this Debenture in July 2016, resulting in a new Senior Secured Convertible Debenture that matures in May 2018.

About Tapinator
Tapinator (OTC: TAPM) designs, develops, and publishes mobile games on the iOS, Google Play, and Amazon platforms. Tapinator's owned and operated portfolio includes over 200 mobile gaming titles that have achieved over 250 million cumulative downloads, primarily within the Simulation, Arcade, Role Playing, Casino and Sports genres. A number of these titles have risen to the top of the mobile leaderboard charts and have been featured by the Apple, Google, and Amazon App Stores. Tapinator generates revenues through the sale of advertisements, the sale of paid downloadable games, and the sale of additional in-game content. Founded in 2013, Tapinator is headquartered in New York, with product development teams located in Germany, Pakistan, Indonesia, Canada, and the United States. For a full listing of Tapinator game titles and to view the Company’s most recent investor presentation, please go to Tapinator.com.

Key Operating Metrics
We manage our business by tracking several operating metrics: ‘DAUs,’ which measure daily active users of our games, ‘MAUs,’ which measure monthly active users of our games, ‘Downloads,’ which measure non-unique downloads of our games, each of which is recorded by third party systems and our internal analytics system. The numbers for these operating metrics are calculated using internal company data, based on tracking of user account activity. We believe that the numbers are reasonable estimates of our user base for the applicable period of measurement; however, factors relating to user activity and systems may impact these numbers.

Forward Looking Statements
To the extent that statements contained in this press release are not descriptions of historical facts regarding Tapinator, they are forward-looking statements reflecting the current beliefs and expectations of management made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Words such as “believe,” "may," "will" "expect," "anticipate," "estimate," "intend," and similar expressions (as well as other words or expressions referencing future events, conditions or circumstances) are intended to identify forward-looking statements. Our statements regarding our financial outlook for the full fiscal year 2016 contained in this press release are forward-looking statements. Additional examples of forward-looking statements contained in this press release include, among others, statements regarding our ability to to continue to deliver strong growth during the second half of this year, and our expectations regarding consumer acceptance and monetization of our mobile games. Forward-looking statements in this release involve substantial risks and uncertainties that could cause the development and monetization of our mobile games, future results, performance or achievements to differ significantly from those expressed or implied by the forward-looking statements. Such risks and uncertainties include, among others, the uncertainties inherent in the hits nature of the mobile gaming business. Tapinator undertakes no obligation to update or revise any forward-looking statements. The quoting and trading of the company's common stock on the OTC Market Group's OTC Link quotation system is often thin and characterized by wide fluctuations in trading prices, due to many factors that may have little to do with the company's operations or business prospects. As a result, there may be volatility in the market price of the shares of the company's common stock for reasons unrelated to operating performance. Moreover, the OTC Market Group's OTC Link quotation system is not a stock exchange, and trading of securities on it is often more sporadic than trading of securities listed on the NASDAQ Stock market or another securities exchange. Accordingly, stockholders may have difficulty reselling any of their shares. For a further description of the risks and uncertainties that could cause actual results to differ from those expressed in these forward-looking statements, as well as risks relating to the business of the company in general, see Tapinator's Risk Factors which are available at http://www.tapinator.com/disclaimers.

Non-GAAP Financial Measure
We have provided in this release the non-GAAP financial measure of adjusted EBITDA, as a supplement to the consolidated financial statements, which are prepared in accordance with United States generally accepted accounting principles ("GAAP"). Management uses adjusted EBITDA internally in analyzing our financial results to assess operational performance and liquidity. The presentation of adjusted EBITDA is not intended to be considered in isolation or as a substitute for the financial information prepared in accordance with GAAP. We believe that both management and investors benefit from referring to adjusted EBITDA in assessing our performance and when planning, forecasting and analyzing future periods. We believe adjusted EBITDA is useful to investors because it allows for greater transparency with respect to key financial metrics we use in making operating decisions and because our investors and analysts use them to help assess the health of our business. We have provided reconciliations between our historical 2016 and 2015 adjusted EBITDA to the most directly comparable GAAP financial measures below. Some limitations of adjusted EBITDA:

• Adjusted EBITDA does not include the impact of stock-based expense, impairment of intangible assets previously acquired, acquisition-related transaction expenses, contingent consideration fair value adjustments and restructuring expense;
• Adjusted EBITDA does not reflect income tax expense;
• Adjusted EBITDA does not include other income or expense, which includes foreign exchange gains and losses and interest income or expense;
• Adjusted EBITDA excludes depreciation and amortization of intangible assets. Although depreciation and amortization are non-cash charges, the assets being depreciated and amortized may have to be replaced in the future; and
• Other companies, including companies in our industry, may calculate adjusted EBITDA differently or not at all, which will reduce their usefulness as a comparative measure.

Because of these limitations, you should consider adjusted EBITDA along with other financial performance measures, including revenue, net income (loss), diluted net income (loss) per share, cash flow from operations, GAAP operating expense, GAAP operating margin and our other financial results presented in accordance with GAAP. See the GAAP to non-GAAP reconciliations below for further details:

Reconciliation of GAAP to Non-GAAP Results (unaudited)



CONTACT:
Tapinator Investor Relations
Email: investor.relations@tapinator.com
Phone: +1-(914)-930-6232
SOURCE Tapinator, Inc.

 

 

Tapinator Completes Senior Debt Refinancing 
 


New York, NY – PRNewswire -  August 2, 2016 - Tapinator, Inc. (OTC:TAPM), a designer, developer and publisher of mobile games on the iOS, Google Play, and Amazon platforms, today announced that it recently entered into a Securities Exchange and Amendment Agreement with Hillair Capital Investments L.P. ("Hillair Capital") to amend and refinance the terms of the $2,240,000 8% Original Issue Discount Senior Secured Convertible Debenture originally issued to Hillair Capital on June 19, 2015. For details relating to the terms and conditions of the refinancing, please refer to Tapinator's Supplemental Information Report with OTC Markets dated August 2nd, 2016 that is available at http://www.otcmarkets.com/stock/TAPM/filings.

Commenting on the transaction, Andrew Merkatz, President of Tapinator, stated, "We are delighted to extend our relationship with Hillair Capital. They've proven to be an invaluable and trusted partner, and we believe this refinancing reflects a reaffirmation of our exciting and unique business model, the significant growth prospects of the mobile gaming industry, and the strong revenue progression and operating results we have delivered over the past eleven quarters. We believe this transaction also provides Tapinator with rapid access to further capital to take advantage of strategic and accretive M&A and publishing related opportunities that we may identify in the coming years."

About Tapinator

Tapinator, Inc. (Ticker: TAPM) designs, develops, and publishes mobile games for iOS and Android devices on the App Store, Google Play, and Amazon Appstore platforms. Tapinator's owned and operated portfolio includes over 200 mobile gaming titles that have achieved over 250 million cumulative player downloads -- primarily within the simulation, arcade, role-playing, casino, and sports genres. A number of these titles have risen to the top of the mobile leaderboard charts and have been featured by Apple, Google, and Amazon. Founded in 2013, Tapinator is headquartered in New York -- with product development teams located in Germany, Pakistan, Indonesia, Canada, and the United States. For more information about Tapinator, please visit http://www.tapinator.com.

Forward Looking Statements

To the extent that statements contained in this press release are not descriptions of historical facts regarding Tapinator, they are forward-looking statements reflecting the current beliefs and expectations of management made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Words such as "believe," "may," "will" "expect," "anticipate," "estimate," "intend," and similar expressions (as well as other words or expressions referencing future events, conditions or circumstances) are intended to identify forward-looking statements. Forward-looking statements in this release involve substantial risks and uncertainties that could cause the development and monetization of our mobile games, future results, performance or achievements to differ significantly from those expressed or implied by the forward-looking statements. Such risks and uncertainties include, among others, the uncertainties inherent in the hits nature of the mobile gaming business. Tapinator undertakes no obligation to update or revise any forward-looking statements. The quoting and trading of the company's common stock on the OTC Market Group's OTC Link quotation system is often thin and characterized by wide fluctuations in trading prices, due to many factors that may have little to do with the company's operations or business prospects. As a result, there may be volatility in the market price of the shares of the company's common stock for reasons unrelated to operating performance. Moreover, the OTC Market Group's OTC Link quotation system is not a stock exchange, and trading of securities on it is often more sporadic than trading of securities listed on the NASDAQ Stock market or another securities exchange. Accordingly, stockholders may have difficulty reselling any of their shares. For a further description of the risks and uncertainties that could cause actual results to differ from those expressed in these forward-looking statements, as well as risks relating to the business of the company, see Tapinator's Risk Factors which are available at http://www.tapinator.com/disclaimers.

No Solicitation

This release does not constitute an offer to sell or the solicitation of an offer to buy any securities of the Company, nor shall there be any sale of any securities of the Company where such offer, solicitation or sale would be unlawful prior to the registration or qualification under applicable securities laws.


CONTACT:
Tapinator Investor Relations
Email: investor.relations@tapinator.com
Phone: +1-(914)-930-6232
SOURCE Tapinator, Inc.

 

Tapinator Releases 31 Games During Q2 2016 - Provides Game Network Update 
 


New York, NY – PRNewswire -  July 7, 2016 - Tapinator, Inc. (OTC:TAPM), a designer, developer and publisher of mobile games on the iOS, Google Play, and Amazon platforms, today announced a number of important game network updates as of the end of Q2 2016, including:

• 244 active revenue generating games as of June 30, 2016 including 31 games launched during the second quarter of 2016
• 267 million cumulative downloads across the network, up 175% year-over-year
• 66 games that have each achieved over 1.0 million downloads
• 18.3 million average monthly active users (MAU) during the quarter, up 136% year-over-year
• 1.1 million average daily active users (DAU) during the quarter, up 127% year-over-year
• 629,000 average daily downloads across the network, up 78% year-over-year

“Driven primarily by 28 new games from within our Rapid-Launch Games division, the size of our games portfolio and our user-base continued to grow significantly during the second quarter of 2016,” said Tapinator CEO, Ilya Nikolayev. “Additionally, we continued to show triple digit growth of our key player engagement metrics, including Daily Active Users (DAU) and Monthly Active Users (MAU).

Our Full-Featured Games division launched three new games during the second quarter: Video Poker Classic, Blackjack Classic, and Combo Quest 2. Launched less than one week ago, Combo Quest 2, has already generated over 300,000 player downloads, is a top 100 game on both iPhone and iPad, and is a top 100 grossing game within the Adventure and Role-Playing categories. We are excited to see that Combo Quest 2 has been featured on the iOS App Store within “New Games We Love” and that the product is demonstrating early success in terms of its metrics. Subsequent updates to the game, which will go live within the next several weeks will, we believe, improve upon the game’s already solid engagement and monetization metrics.

Additional financial performance metrics will be provided as part of our 2016 second quarter results, which we expect to release by mid-August.”

About Tapinator
Tapinator, Inc. (Ticker: TAPM) designs, develops, and publishes mobile games for iOS and Android devices on the App Store, Google Play, and Amazon Appstore platforms. Tapinator's owned and operated portfolio includes over 200 mobile gaming titles that have achieved over 250 million cumulative downloads -- primarily within the simulation, arcade, role-playing, casino, and sports genres. A number of these titles have risen to the top of the mobile leaderboard charts and have been featured by Apple, Google, and Amazon. Founded in 2013, Tapinator is headquartered in New York -- with product development teams located in Germany, Pakistan, Indonesia, Canada, and the United States. For more information about Tapinator, please visit www.tapinator.com.


Forward Looking Statements
To the extent that statements contained in this press release are not descriptions of historical facts regarding Tapinator, they are forward-looking statements reflecting the current beliefs and expectations of management made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Words such as “believe,” "may," "will" "expect," "anticipate," "estimate," "intend," and similar expressions (as well as other words or expressions referencing future events, conditions or circumstances) are intended to identify forward-looking statements. Forward-looking statements in this release involve substantial risks and uncertainties that could cause the development and monetization of our mobile games, future results, performance or achievements to differ significantly from those expressed or implied by the forward-looking statements. Such risks and uncertainties include, among others, the uncertainties inherent in the hits nature of the mobile gaming business. Tapinator undertakes no obligation to update or revise any forward-looking statements. The quoting and trading of the company's common stock on the OTC Market Group's OTC Link quotation system is often thin and characterized by wide fluctuations in trading prices, due to many factors that may have little to do with the company's operations or business prospects. As a result, there may be volatility in the market price of the shares of the company's common stock for reasons unrelated to operating performance. Moreover, the OTC Market Group's OTC Link quotation system is not a stock exchange, and trading of securities on it is often more sporadic than trading of securities listed on the NASDAQ Stock market or another securities exchange. Accordingly, stockholders may have difficulty reselling any of their shares. For a further description of the risks and uncertainties that could cause actual results to differ from those expressed in these forward-looking statements, as well as risks relating to the business of the company, see Tapinator's Risk Factors which are available at http://www.tapinator.com/disclaimers.

CONTACT:
Tapinator Investor Relations
investor.relations@tapinator.com

SOURCE: Tapinator, Inc.
 

Tapinator Raises 2016 Guidance
 

Company also provides an update on major 2016 game launches


New York, NY – PRNewswire - June 20, 2016 -  Tapinator, Inc. (OTC:TAPM), a leading emerging growth company within the mobile gaming industry, is pleased to announce that it is raising its previously issued financial guidance for 2016, based on strong performance of its core mobile gaming business during the first half of this year. Tapinator now expects to achieve revenue in the range of $4.0 million - $4.5 million in 2016, up from previous revenue guidance of $3.7 million - $4.3 million for the year, representing an annualized organic revenue growth rate range of 63%-84%. The Company continues to expect near break-even results at the operating income level, and is now targeting an Adjusted EBITDA (a non-GAAP measure) percentage of 24% for 2016, up from previously issued guidance of 22%. Assuming, the Company achieves break-even results at the operating income level, the Company continues to expect net losses in 2016 of approximately $1.6 million, primarily as a result of financing related charges associated with the Company's $2.0 million convertible debenture financing completed during 2015, including $1.5 million in expected non-cash charges.

Tapinator is also pleased to provide the following timing update for some of its most significant 2016 Full Featured game launches:

Combo Quest 2 - June 30th, 2016
Big Sport Fishing 2016 - August, 2016
Rocky - Q4, 2016* (specific timing will be provided closer to release date)

The Company will also soon provide an update on its emerging social casino games portfolio, including recent game performance and launch highlights.

Finally, the Company's CEO, Ilya Nikolayev, recently provided an interview to Stockhouse.com which provides a summary overview of Tapinator's history, business model, recent performance milestones, and investment highlights. The interview is available for viewing here.

About Tapinator

Tapinator (OTC: TAPM) designs, develops, and publishes mobile games on the iOS, Google Play, and Amazon platforms. Tapinator's portfolio includes more than 200 mobile gaming titles that have achieved over 200 million cumulative player downloads, primarily within the Simulation, Arcade, Role Playing, Casino and Sports genres. Tapinator generates revenues through the sale of advertising within its games, the sale of paid downloadable games, and the sale of additional in-game content. Founded in 2013, Tapinator is headquartered in New York, with product development teams located in Germany, Canada, Indonesia, Pakistan, and the United States. For a full listing of Tapinator game titles and to view the Company's most recent investor presentation, please go to http://tapinator.com/.

Forward Looking Statements

To the extent that statements contained in this press release are not descriptions of historical facts regarding Tapinator, they are forward-looking statements reflecting the current beliefs and expectations of management made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Words such as "believe," "may," "will" "expect," "anticipate," "estimate," "intend," and similar expressions (as well as other words or expressions referencing future events, conditions or circumstances) are intended to identify forward-looking statements. Our statements regarding our financial outlook for the full fiscal year 2016 contained in this press release are forward-looking statements. Forward-looking statements in this release involve substantial risks and uncertainties that could cause the development and monetization of our mobile games, future results, performance or achievements to differ significantly from those expressed or implied by the forward-looking statements. Such risks and uncertainties include, among others, the uncertainties inherent in the hits nature of the mobile gaming business. Tapinator undertakes no obligation to update or revise any forward-looking statements. The quoting and trading of the company's common stock on the OTC Market Group's OTC Link quotation system is often thin and characterized by wide fluctuations in trading prices, due to many factors that may have little to do with the company's operations or business prospects. As a result, there may be volatility in the market price of the shares of the company's common stock for reasons unrelated to operating performance. Moreover, the OTC Market Group's OTC Link quotation system is not a stock exchange, and trading of securities on it is often more sporadic than trading of securities listed on the NASDAQ Stock market or another securities exchange. Accordingly, stockholders may have difficulty reselling any of their shares. For a further description of the risks and uncertainties that could cause actual results to differ from those expressed in these forward-looking statements, as well as risks relating to the business of the company in general, see Tapinator's Risk Factors which are available at http://www.tapinator.com/disclaimers.

CONTACT:
Tapinator Investor Relations
investor.relations@tapinator.com
Phone: +1-914-930-6232
SOURCE Tapinator, Inc.


 

Tapinator and Tamatem MENA Partnership Demonstrates Strong Initial Results Debut “Cops” Game Reaches #1 in Top iOS Charts and #46 Top Grossing in Saudi Arabia 
 


New York, NY – PRNewswire -  Tapinator, Inc. (OTC:TAPM), today announced that its Middle East and North Africa (MENA) publishing partnership with Tamatem, Inc., which the Company first announced in November, 2015, has yielded very strong initial results based on the recent launch of the partnership’s debut game. Last Thursday, Tamatem released a localized version of Tapinator’s hit mobile game, Cop Duty Simulator 3D, in key MENA markets and the game immediately climbed to the #1 spot in the iOS Overall Apps Top Download Charts and reached #46 in the iOS Overall Apps Top Grossing Charts in Saudi Arabia. The game also reached a top 10 download rank in other key Middle Eastern markets such as Kuwait and Bahrain.

We are highly encouraged by the initial results from this game launch, as it validates our recently announced strategy to enter the $680 Million Middle East and North Africa mobile gaming market. According to Strategy& (formerly Booz & Company), the MENA market for mobile games is expected to more than triple in size in the coming years — from $680 million in 2015 to $2.3 billion in 2022. We are already working with Tamatem on a second game, based on our hit title Trucker Parking 3D, which we expect will hit the MENA market later this quarter,” said Tapinator CEO, Ilya Nikolayev.

“The Arab mobile game market is underserved. Arabic is the fourth biggest language in the world, yet less than 1% of all mobile gaming content is available in Arabic. While games in English number around 400,000, there are only 250 Arabic games available on the App Store (Source: GamesIndustry.biz). The region has one of the world's fastest adoption rates for mobile apps. There are 60M+ smartphone users in the Middle East and this number is expected to reach 100M by 2016. 60% of these users prefer consuming content in Arabic. (Source: Strategy&). Tamatem looks forward to expanding it partnership with Tapinator to help them bring their large and rapidly-growing library of 180+ high quality mobile games to the vibrant Arabic market,” said Tamatem CEO Hussam Hammo.

About Tapinator
Tapinator (OTC: TAPM) designs, develops, and publishes mobile games on the iOS, Google Play, and Amazon platforms. Tapinator’s owned and operated portfolio includes over 180 mobile gaming titles that, collectively, have achieved over 150 million downloads. A number of these titles have risen to the top of the mobile leaderboard charts and have been featured by the Apple, Google, and Amazon App Stores. Founded in 2013, Tapinator is headquartered in New York, with product development teams located in Denmark, Pakistan, Indonesia, Canada, and Russia. For a full listing of Tapinator game titles, please go to Tapinator.com. For further financial information on the Company, please go to OTCMarkets.com/stock/TAPM. For live updates, please like us on Facebook at facebook.com/Tapinator or follow us on Twitter at twitter.com/Tapinator.

About Tamatem, Inc.
Tamatem is a leading mobile games publisher in the MENA market with offices in Amman, Jordan and Mountain View, California and is backed by 500 Startups and other venture capital firms. Tamatem is entirely focused on serving the Arabic smartphone users with games tailored for the language and culture of the region. Tamatem partners with other international game developers/studios to publish localized versions of their successful games for the Arab gamer. Tamatem focuses on publishing casual and mid-core mobile games including genres that vary from puzzle games, strategy games, racing/drifting games and word and trivia games. Tamatem has a proven track record and experience in localization, user acquisition, distribution, cross-promotion, monetization, and game design focused entirely on the MENA region. For additional information about Tamatem, email founders@tamatem.co or visit http://tamatem.co.

Forward Looking Statements
To the extent that statements contained in this press release are not descriptions of historical facts regarding Tapinator, they are forward-looking statements reflecting the current beliefs and expectations of management made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Words such as "may," "will" "expect," "anticipate," "estimate," "intend," and similar expressions (as well as other words or expressions referencing future events, conditions or circumstances) are intended to identify forward-looking statements. Examples of forward-looking statements contained in this press release include, among others, statements regarding the quoting and trading of our common stock and our expectations regarding our development and monetization plans for our mobile games. Forward-looking statements in this release involve substantial risks and uncertainties that could cause the development and monetization of our mobile games, future results, performance or achievements to differ significantly from those expressed or implied by the forward-looking statements. Such risks and uncertainties include, among others, the uncertainties inherent in the hits nature of the mobile gaming business. Tapinator undertakes no obligation to update or revise any forward-looking statements. The quoting and trading of the company's common stock on the OTC Market Group's OTC Link quotation system is often thin and characterized by wide fluctuations in trading prices, due to many factors that may have little to do with the company's operations or business prospects. As a result, there may be volatility in the market price of the shares of the company's common stock for reasons unrelated to operating performance. Moreover, the OTC Market Group's OTC Link quotation system is not a stock exchange, and trading of securities on it is often more sporadic than trading of securities listed on the NASDAQ Stock market or another securities exchange. Accordingly, stockholders may have difficulty reselling any of their shares. For a further description of the risks and uncertainties that could cause actual results to differ from those expressed in these forward-looking statements, as well as risks relating to the business of the company in general, see Tapinator's Risk Factors which are available at http://www.tapinator.com/disclaimers.

CONTACT:
Tapinator Investor Relations
investor.relations@tapinator.com

SOURCE:  Tapinator, Inc.

 

 

TAPINATOR BRINGS LEADING MOBILE GAME FRANCHISE, BIG SPORT FISHING 3D, TO GOOGLE PLAY, IOS AND AMAZON IN 2016 
 

Major Franchise Update from Rocketmind Coming During Q2 2016 With Licensed Versions Planned


New York, NY – PRNewswire -  – Tapinator, Inc. (OTC:TAPM), an emerging growth company in the burgeoning mobile games space, today announces the acquisition of publishing rights to the hit Android mobile fishing game franchise, Big Sport Fishing 3D. With more than 15 million downloads to date across multiple expansion packs, Big Sport Fishing 3D debuted in 2010 as one of the first mobile fishing games to turn players’ smartphones into virtual fishing rods within a 360-degree, simulated reality fishing environment. The investment and publishing deal with Rocketmind Inc. of Cambridge, Massachusetts will bring a brand new sequel of Big Sport Fishing to Google Play, iOS and Amazon. Big Sport Fishing had previously been available exclusively on Android. The deal also grants licensing rights to mobile game production company, HyperPower Game Group, which will pursue opportunities to extend the franchise, in collaboration with Tapinator and Rocketmind, after release of the new upcoming game.

“Simulation games make up a significant part of our portfolio, which now boasts more than 150 games and 130 million players, so we feel uniquely able to support the Big Sport Fishing franchise” said Tapinator CEO, Ilya Nikolayev. “This collaboration with Rocketmind enables us to extend this expertise to adventure simulation, a genre we believe will be of great interest to our players. We are enthused by the virtual reality (VR) opportunities of this franchise, along with the evergreen nature and broad appeal of the fishing category. According to Statista, more than 55mm Americans took at least one fishing trip in 2013 and fishing related recreation expenditures represented a $42 Billion market in that year. As it relates to the mobile opportunity, Glu Mobile’s Deer Hunter grossed in excess of $52mm in 2014 (Source: Glu Mobile Q3 2015 Earnings Presentation). Given that there are more than four times as many fishing participants versus hunting participants in the US (source: Statista), we believe that this game represents a very large market opportunity for Tapinator and its partners.”

Big Sport Fishing was originally created by a team of passionate game developers from rural western Massachusetts seeking to recreate the summers that they spent fishing at their local pond. “Our primary goal was to recreate the most exciting parts of those fishing experiences—to see the fish swimming, really feel them tugging on the line, having to fight to reel them in, etc.,” said Joe Hanson, CEO of Rocketmind Inc. To this end, Big Sport Fishing was one of the first to take advantage of smartphone motion sensors to place players into an immersive, first person, virtual world where fishing is the only reality. Players need only move their phone to change their view, and flick their wrist to cast their line.

“The performance of the Big Sport Fishing franchise is impressive and we see a passionate bond between the game and its players,” said HyperPower Game Group CEO, Clark Nesselrodt. “This is exactly what we are looking for when choosing game mechanics for potential licensed extensions.”

The release of the totally new cross-platform, Big Sport Fishing sequel is slated for Q2. Tapinator has assumed publishing rights for current versions of the game, which are available to Android players on the Google Play store.

About Tapinator
Tapinator (OTC: TAPM) designs, develops, and publishes mobile games on the iOS, Google Play, and Amazon platforms. Tapinator’s owned and operated portfolio includes over 150 mobile gaming titles that, collectively, have achieved over 135 million downloads. A number of these titles have risen to the top of the mobile leaderboard charts and have been featured by the Apple, Google, and Amazon App Stores. Founded in 2013, Tapinator is headquartered in New York, with product development teams located in Denmark, Pakistan, Indonesia, Canada, and Russia. For a full listing of Tapinator game titles, please go to Tapinator.com. For further financial information on the Company, please go to OTCMarkets.com/stock/TAPM. For live updates, please like us on Facebook at facebook.com/Tapinator or follow us on Twitter at twitter.com/Tapinator.

About Rocketmind
Rocketmind develops innovative games and apps for mobile devices. We specialize in games which combine sophisticated 3D graphics with motion based controls. Founded in 2009, Rocketmind has released multiple mobile gaming titles which have collectively been downloaded more than 15 million times. For a full listing of Rocketmind’s games, see our website at www.rocketmind.com.

About HyperPower Game Group
HyperPower Game Group is a licensed mobile game production company that specializes in bridging the gap between successful mobile games and celebrity and brand licensors. With presences in New York City and Los Angeles, services include game creation, project management, artist relations, marketing, legal services and financing. Past titles include collaborations with licensors like Discovery Channel, Nik Wallenda and Melissa Etheridge.

Forward Looking Statements
To the extent that statements contained in this press release are not descriptions of historical facts regarding Tapinator, they are forward-looking statements reflecting the current beliefs and expectations of management made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Words such as "may," "will" "expect," "anticipate," "estimate," "intend," and similar expressions (as well as other words or expressions referencing future events, conditions or circumstances) are intended to identify forward-looking statements. Examples of forward-looking statements contained in this press release include, among others, statements regarding the quoting and trading of our common stock and our expectations regarding our development and monetization plans for our mobile games. Forward-looking statements in this release involve substantial risks and uncertainties that could cause the development and monetization of our mobile games, future results, performance or achievements to differ significantly from those expressed or implied by the forward-looking statements. Such risks and uncertainties include, among others, the uncertainties inherent in the hits nature of the mobile gaming business. Tapinator undertakes no obligation to update or revise any forward-looking statements. The quoting and trading of the company's common stock on the OTC Market Group's OTC Link quotation system is often thin and characterized by wide fluctuations in trading prices, due to many factors that may have little to do with the company's operations or business prospects. As a result, there may be volatility in the market price of the shares of the company's common stock for reasons unrelated to operating performance. Moreover, the OTC Market Group's OTC Link quotation system is not a stock exchange, and trading of securities on it is often more sporadic than trading of securities listed on the NASDAQ Stock market or another securities exchange. Accordingly, stockholders may have difficulty reselling any of their shares. For a further description of the risks and uncertainties that could cause actual results to differ from those expressed in these forward-looking statements, as well as risks relating to the business of the company in general, see Tapinator's Risk Factors which are available at http://www.tapinator.com/disclaimers.

CONTACT:
Tapinator Investor Relations
investor.relations@tapinator.com
(914) 930-6232

SOURCE: Tapinator, Inc.
 

ABOUT TAPM:

Tapinator was founded by a visionary team that has years of experience building games and applications across all platforms - including iOS, Android, Kindle and Facebook.

Meet our Executive Team:

Ilya Nikolayev, CEO

Co-founder and CEO of Familybuilder (the Family Tree application) until the sale of the Company to Intelius. In 2007, Mr. Nikolayev created one of the first successful Facebook applications, Family Tree, and grew the property to over 6 million monthly active unique users and 45 million total users. Mr. Nikolayev raised venture capital funding, grew the business to profitability, and successfully sold the business in 2011, generating a significant return for all of its investors. Mr. Nikolayev is also a co-founder at InAppFuel, a business-to-business product for mobile game developers. Prior to Familybuilder, Mr. Nikolayev worked in banking for JP Morgan. Mr. Nikolayev graduated cum laude from New York University.


Khurram Samad, CTO

Mr. Samad leads Tapinator's software development team. Previously, Mr. Samad founded GeniTeam, an outsourced development company specializing in mobile, with over 40 developers in-house. He is an experienced leader of offshore technical teams, focused on cost effectively creating high-quality games and applications across mobile platforms. Mr. Samad earned his BS in Computer Science from National University of Computer and Emerging Science. MBA from LUMS.

Andrew Merkatz, President

Andrew Merkatz is an accomplished finance executive with 20 years of experience as an investor and operator in media and technology growth companies. From 2008-2015, Mr. Merkatz was a Managing Director of Investments at Vision Capital where he managed investments in digital media and software technology. Mr. Merkatz began his career at private equity firm, Interlaken Capital. He later served as Chief Operating Officer for Site-Specific, one of the first internet advertising agencies (sold to CKS Group), Vice President of Corporate Development at FLOORgraphics, a pioneering in-store media company (sold to News Corp.), and President of Predict It, a venture backed digital media company. In 2007, Mr. Merkatz co-founded Familybuilder, a leading Facebook app developer, which profitably scaled to more than 45 million users prior to the successful sale of the Company in 2011. In 2013, Mr. Merkatz co-founded InAppFuel, a developer of patent-pending casino minigame software for mobile game developers that was acquired by Tapinator in September 2014. Mr. Merkatz holds an M.B.A. from Harvard Business School and a B.A. in Economics, with distinction, from the University of Pennsylvania.

Robert Crates, Director

Robert B. Crates has over 25 years of experience in private equity, investing in a broad range of industries and asset categories. Mr. Crates has served on the board of directors of numerous public and private companies. He has invested in leading venture capital and hedge funds and served as an advisory director to iEurope, a venture capital fund manager focused on Eastern Europe, and as an advisor/initial investor in the Global Undervalued Securities Hedge Fund. He is currently Chairman of Power-by-Power Texas, an electricity procurement, brokerage, and management company. Mr. Crates was previously the President and Co-Founder of Crates Thompson Capital, a private equity investment management company, the General Partner of a private equity fund managed for the principals of Luther King Capital Management, an investment advisory company with more than $10 billion under management, and an analyst in corporate banking with the United States Trust Company of New York. He is a graduate of Yale University.


Teymour Farman-Farmaian, Sr. Advisor

Teymour Farman-Farmaian was Chief Acquisition and Retention Officer (later CMO) at Spotify, the world’s leading music streaming service, starting in 2011. In this role, Teymour led a team of over 100 employees and helped triple revenue growth to hit a $500 million run rate. Before Spotify, Teymour spent close to two years with Zynga (ZNGA) as GM of Partnerships. There, he was responsible for Zynga’s multi-billion dollar partnership with Facebook as well relationships with Yahoo and Google. In this role, Teymour helped launch over a dozen social games. Teymour went to Zynga after six years at Google (GOOG). He joined Google as Director of European Sales Operations, where he helped achieve ten figure revenues. His last position at Google was as Director of Sales Services, where he served deal teams working on partnerships (including AOL and eBay) responsible for 25% of Google’s revenue. Teymour speaks French, Spanish, Italian, Portugese and Farsi and holds a BA from Duke University and an MBA from Harvard University.

Company Overview

Tapinator (OTC: TAPM) designs, develops and publishes mobile games on the iOS, Google Play, and Amazon platforms. Tapinator’s owned and operated portfolio includes over 130 mobile gaming titles that, collectively, have achieved over 130 million downloads. A number of these titles have risen to the top of the mobile leaderboard charts and have been featured by the Apple, Google, and Amazon App Stores. Founded in 2013, Tapinator is headquartered in New York, with product development teams located in Pakistan, Denmark, Indonesia, Canada and Russia.



SOURCE: www.tapinator.com

 




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