Press Release 2016
Shoal Games Ltd. Announces Fourth Quarter Results
ANGUILLA, B.W.I., January 28, 2016 / Shoal Games Ltd. (TSXV:SGW) (OTCQB:SGLDF) http://www.shoalgames.com (“the Company”), owner of Trophy Bingo, an innovative, non-gambling, social bingo game, http://www.trophybingo.com, today announced its unaudited financial results for the fourth quarter ended December 31, 2015. All amounts are presented in United States dollars and in accordance with United States Generally Accepted Accounting Principles.
Recent Shoal Games Ltd. highlights include:
- Revenue of $85,446, an increase of 768% from revenue of $11,130, in the third quarter of 2015
- Cash of $570,086 and positive working capital of $454,341 as at December 31, 2015.
- Q4 average Trophy Bingo rating of 4.47 stars (max 5 stars) in Google Play Store
- Launch of Trophy Bingo in Amazon App Store
“The fourth quarter of 2015 saw the Company engaged in marketing, software development, and performance tuning of Trophy Bingo in a live environment,” commented Jason Williams, Shoal Games CEO. Our objective since launch has been to generate significant downloads so that we could assess the game’s earning potential and popularity with bingo players. We successfully generated 157,354 downloads, secured average ratings of 4.47 in Google Play, and booked $85,446 in revenue for the quarter. All three metrics were ahead of our projections and we remain confident in Trophy Bingo’s capacity to become a Top Grossing game. Our tuning efforts were particularly effective as we saw average Day 1 retention for the quarter climb to 38%, from 34% in the third quarter, and ARPDAU (Average Revenue Per Daily Active User) double from $0.046 in the third quarter to $0.092 in Q4.