How SPYR Inc (OTCMKTS:SPYR) Performed In Digital Media Segment?

SPYR Inc (OTCMKTS:SPYR) filed Form 10-Q in the second week of August wherein the company stated that for the period since acquisition, the Digital Media vertical recorded a net loss of approximately $321,000. The revenue from the digital media segment came at nearly $371,000.

The management intends to expand its digital and internet holdings and businesses by exploring opportunities for more acquisitions in the digital media sector, including launch of more websites to increase its presence in digital publishing arena, and entering the segment of mobile application and game development. All these platforms will be used to boost SPYR’s digital advertising and monetization initiatives.

SPYR Inc (OTCMKTS:SPYR) reported that in the reported period, the Digital Media segment recorded total S,G&A expenses of almost $692,000, which included digital marketing expenses of nearly $417,000, professional fees of almost $21,000, labor and associated expenses amounting to $107,000, depreciation and amortization costs of approximately $21,000, rent expense of close to $7,000, and other costs amounting to $119,000.

The company recently engaged industry leader Paul Thind to look after the games and app division. In last trading session, the share price of SPYR declined more than 7% to close the trading session at $0.240.

Atrinsic, Inc. (OTCMKTS:ATRN) recorded gains of over 160% On Tuesday to close the day at $0.00250. The company filed Form 8-K on September 9, and announced issuance of secured convertible ‘Notes’ to two entities.

Shares of Aeropostale Inc (NYSE:ARO) have been plunging as they made a new 52-week low of $0.67 on Wednesday. Year-to-date, the stock has plunged more than 70%. Additionally, a big part of decline came after the company released its financial report on August 27, 2015. The stock made a 52-week high almost six months ago and touched the high point of year on March 2, 2015. In last trading session, the stock dropped more than 7% to close at $0.67.

About the Author

Sally joined the US Markets Daily News Team in April 2011 as a Multimedia Journalist.

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