Shoal Games Announces Q1 Results and Research Update
ANGUILLA, B.W.I., May 16, 2017 – Shoal Games Ltd. (TSXV: SGW) (OTCQB: SGLDF) (“the Company”), mobile software developer, publisher, and owner of Rooplay (www.rooplay.com), today announced its unaudited financial results for the first quarter ended March 31, 2017. All amounts are presented in United States dollars and are in accordance with United States Generally Accepted Accounting Principles.
Recent Shoal Games Ltd. highlights include:
- Presentation of Rooplay, our innovative Edtech Games Platform, to mobile carriers at GSMA Mobile World Congress in Barcelona
- Reduction of Q4 loss of $745,368 to Q1 loss of $383,947
- Global Launch of Rooplay in 27 languages and 135 countries
- Initiated distribution discussions globally with mobile carriers
- Launches Rooplay with first international partner
“The first quarter of 2017 marked an important milestone for the Company as Rooplay, our disruptive platform in the family games and edugame market, was launched worldwide,” commented Jason Williams, CEO of Shoal Games. “Rooplay is now live in 27 languages and 135 countries and is quickly growing its base of monthly subscribers. With more than 500 games in the library, families can benefit from a huge library of games for their children without worrying about intrusive ads or in-app purchases. Rooplay launched with four exclusive Rooplay Original games featuring Garfield and will see exclusive content launched every month to keep the catalogue fresh. The Shoal Games team has built a series of distribution strategies to enable Rooplay to grow without a large marketing budget in comparison to other apps that must pay for every download. Details of our distribution strategy can be read in the latest Fundamental Research Corp. analyst report.”
About Shoal Games Ltd.
Shoal Games Ltd. (TSXV:SGW) (OTCQB:SGLDF) (www.shoalgames.com) owns Rooplay (www.rooplay.com), an innovative EdTech games platform that empowers children to play, learn, and create; Garfield’s Bingo (www.garfieldsbingo.com), the first bingo game to feature a mega-brand; and Trophy Bingo (www.trophybingo.com), live across mobile platforms with over 500,000 installs. Rooplay is available exclusively on Android and is live worldwide in Google Play. The product offers families a handpicked and growing selection of more than 500 interactive games for a monthly subscription fee. Rooplay follows the same subscription business model as Netflix, but with games instead of movies/series.
The Private Securities Litigation Reform Act of 1995 provides a “safe harbor” for forward-looking statements. Certain information included in this press release (as well as information included in oral statements or other written statements made or to be made by the company) contains statements that are forward-looking, such as statements relating to anticipated future success of the company. Such forward-looking information involves important risks and uncertainties that could significantly affect anticipated results in the future and, accordingly, such results may differ materially from those expressed in any forward-looking statements made by or on behalf of the company. For a description of additional risks and uncertainties, please refer to the company’s filings with the Securities and Exchange Commission. Specifically, readers should read the Company’s Annual Report on Form 10-K, filed with the SEC on March 31, 2017, and the prospectus filed under Rule 424(b) of the Securities Act on March 9, 2005 and the SB2 filed July 17, 2007, and the TSX Venture Exchange Listing Application for Common Shares filed on June 29, 2015 on SEDAR, for a more thorough discussion of the Company’s financial position and results of operations, together with a detailed discussion of the risk factors involved in an investment in Shoal Games Ltd.
For further information, please contact:
- Henry Bromley
- (888) 374-2163