SPYR Inc (OTCMKTS:SPYR) last submitted Form 10-Q in the month of August wherein the company revealed that in the reported period since acquisition, its Digital Media segment posted a net loss of about $321,000 and the revenue of nearly $371,000.
The company wants to expand its digital and internet operations and businesses by exploring lucrative acquisition opportunities in the digital media sector, including the launch of more sites to enhance its presence in same industry, and making its presence in mobile application and game development industry. All these new platforms will be used to increase SPYR’s digital advertising and monetization revenue.
SPYR stated that in the reported period, its Digital Media vertical recorded total S,G&A expenses of nearly $692,000, including which included digital marketing expenses, professional fees, labor and associated expenses, depreciation and amortization costs, rent expenses and other costs.
The company recently hired industry expert Paul Thind to head mobile apps and game development segment. In last trading session, the share price of SPYR dropped over 12% to close the trading session at $0.210.
CrowdGather Inc (OTCMKTS:CRWG) Updates On Cannabis And Crowdfunding
CrowdGather Inc (OTCMKTS:CRWG) bought WeedTracker.com and many other cannabis-based digital assets in April 2015, marking its presence into the growing cannabis industry. In addition, the company disclosed plans to advance WeedInHollywood.com into a cannabis-themed gaming title and eventually merge its social gaming operations into the growing cannabis space.
Back in May, in a corporate update, CrowdGather revealed plans to venture into the digital industry with a crowdfunding portal. The company will be re-launched in 2016 under new SEC guidelines for new issuers as a platform developed designed to help them raise funds from a vast network of investors.
Aeropostale Inc (NYSE:ARO) halted its decline on Thursday and gained more than 2% to close at $0.687. The stock had registered a 52-week low of $0.67 per share on Wednesday’s trading session.