Tapinator, Inc. (OTCQB:TAPM)

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Tapinator Games Surpass 500 Million Player Downloads

Company Launches New Version of Video Poker Classic

 

New York, NYDecember 12, 2019 – Tapinator, Inc. (“Tapinator,” the “Company,” “we,” “our” or “us”) (OTCQB: TAPM), a developer and publisher of category leading apps for mobile platforms, with a focus on social casino games, today announced that it has released a new version of its flagship mobile video poker game, Video Poker Classic.  In addition, the Company recently recorded a significant milestone of surpassing 500 million cumulative player downloads across its entire game portfolio.

 

Video Poker Classic is a leading mobile video poker game across iOS and Google Play platforms. On iOS alone, the game as achieved a 4.7 out of 5.0 review score based on over 38,000 player reviews. This most recent version of the game introduces significant improvements, both from a player and backend perspective.

 

For players, we have introduced a Progressive Mega Jackpot that creates linkage between bets across all devices and awards a royal flush hand with a special Progressive Mega Jackpot, a feature we believe is not currently available in any other mobile video poker game. From a backend perspective, we continue to improve our live operations capabilities and are now able to segment players into groups based on various criteria and target each group with unique offers and re-engagement incentives. Over time, we expect that enhancements in our live operations capabilities will have a significant positive impact on both daily active users and average revenue per daily active user for all of our Category Leading Apps.

 

“The recent update to Video Poker Classic is an important one. With millions of Video Poker Classic hands being played every day, we are excited to report that we are seeing many Progressive Jackpot winners on a daily basis. Also, we are pleased to communicate that we have now exceeded 500 million cumulative player downloads of our games since Tapinator was founded just six years ago. We are proud to join an elite group of companies that have exceeded the 500 million player download mark,” stated Ilya Nikolayev, Tapinator’s Chief Executive Officer.

 

About Tapinator

Tapinator Inc. (OTCQB: TAPM) develops and publishes category leading apps for mobile platforms, with a focus on social casino games. Tapinator’s library includes more than 300 titles that, collectively, have achieved over 500 million mobile downloads, including notable properties such as Video Poker Classic and Solitaire Dash. Tapinator generates revenues through the sale of branded advertising and via consumer transactions, including in-app purchases and subscriptions. Founded in 2013, Tapinator is headquartered in New York, with product development and marketing teams located in North America, Europe and Asia. Consumers can find high-quality mobile entertainment wherever they see the ‘T’ character logo, or at 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,” “goal,” “plan,” “feel,” “may,” “will,” “expect,” “anticipate,” “estimate,” “intend,” “target,” and similar expressions (as well as other words or expressions referencing future events, conditions or circumstances) are intended to identify forward-looking statements. These forward-looking statements include, among other things, our expectation that our recent live operations improvements will have a significant positive impact on both daily active users and average revenue per daily active user for all of our Category Leading Apps. Forward-looking statements are subject to risks and uncertainties that could cause our future results, performance or achievements to differ significantly from those expressed or implied by the forward-looking statements. Except as required by law, 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 Marketplace 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 Marketplace is not a stock exchange, and trading of securities on it is often more sporadic than trading of securities listed on a national 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, please see the Company’s Annual Report on Form 10-K for the year ended December 31, 2018 and its Quarterly Reports on Form 10-Q, including but not limited to the discussion under “Risk Factors” therein, which the Company filed with the SEC and may be viewed at http://www.sec.gov.

 

CONTACT:

Tapinator Investor Relations

investor.relations@tapinator.com

914.930.6232

 

SOURCE:  Tapinator, Inc.

Tapinator Appoints Two Additional Independent Directors

New York, NY – December. 2, 2019 – Tapinator, Inc. (“Tapinator,” the “Company,” “we,” “our” or “us”) (OTCQB: TAPM), a developer and publisher of category leading apps for mobile platforms, with a focus on social casino games, today announced that our Board of Directors has appointed Spencer G. Feldman and Desmond Glass to the Company’s Board of Directors.   Both Messrs. Feldman and Glass qualify as “independent” directors under the rules and regulations of the Nasdaq Stock Market and the Securities and Exchange Commission.

 

The Company intends to appoint Mr. Feldman to be a member of its Audit and Compensation Committees and as Chairman of its Nominating and Corporate Governance Committee, which the Board of Directors plans to establish in the near future.

 

Mr. Feldman is a partner in the New York City law firm of Olshan Frome Wolosky LLP, where he has been a member of its corporate and securities group since September 2013. He was previously a principal shareholder in the law firm Greenberg Traurig LLP, practicing in its corporate and securities department, which he joined in 1993. Mr. Feldman has more than 30 years of experience practicing corporate and securities law and concentrates his practice in the areas of initial public offerings, secondary offerings, shelf takedowns, PIPEs and other private financings, and mergers & acquisitions with public companies, with an emphasis on representing computer, Internet, media and other technology-driven companies.

 

The Company intends to appoint Mr. Glass to be Chairman of its Audit Committee and as a member of its Compensation Committee and Nominating and Corporate Governance Committee.

 

Since November 2017, Mr. Glass has served as Group Chief Financial Officer and company Secretary at RWS Holdings PLC (RWS.L), an AIM-listed multinational language and professional services provider, where he is responsible for shaping and executing upon the financial strategy of the business. From April 2008 until October 2017, Mr. Glass served as the Chief Financial Officer of GAN PLC, a provider of enterprise online gaming software, operational support services and online game content development services to the casino industry. Mr. Glass is a dynamic and hands-on Chief Financial Officer, with proven international leadership experience gained in both public and private venture backed companies, who brings a rare blend of strategic and commercial acumen coupled with a pragmatic and open leadership style. Prior to his time at RWS Holdings PLC and GAN PLC, Mr. Glass held positions at Evexar Limited, Rodale International Limited, ABC Inc., and Deloitte, among others. Mr. Glass received his Bachelor of Commerce from University College Dublin, his ACA from the Institute of Chartered Accountants in Ireland, and his MBA from Imperial College London.

 

Ilya Nikolayev, Tapinator’s Chairman and Chief Executive Officer, stated, “We are thrilled to welcome both Spencer and Desmond to Tapinator’s Board of Directors.  They are seasoned professionals who each bring unique and complementary skill sets to the Company.   As we work toward our goal of achieving an exchange listing in 2020, we are committed to continuously improving our corporate governance, and enhancing Tapinator’s team via select additions of high-caliber individuals such as Messrs. Feldman and Glass.”

 

About Tapinator
Tapinator Inc. (OTCQB: TAPM) develops and publishes category leading apps for mobile platforms, with a focus on social casino games. Tapinator’s library includes more than 300 titles that, collectively, have achieved over 495 million mobile downloads, including notable properties such as Video Poker Classic and Solitaire Dash. Tapinator generates revenues through the sale of branded advertising and via consumer transactions, including in-app purchases and subscriptions. Founded in 2013, Tapinator is headquartered in New York, with product development and marketing teams located in North America, Europe and Asia. Consumers can find high-quality mobile entertainment wherever they see the ‘T’ character logo, or at 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,” “goal,” “plan,” “feel,” “may,” “will,” “expect,” “anticipate,” “estimate,” “intend,” “target,” and similar expressions (as well as other words or expressions referencing future events, conditions or circumstances) are intended to identify forward-looking statements. These forward-looking statements include, among other things, our goal of achieving an exchange listing in 2020.  Forward-looking statements are subject to risks and uncertainties that could cause our future results, performance or achievements to differ significantly from those expressed or implied by the forward-looking statements. Except as required by law, 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 Marketplace 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 Marketplace is not a stock exchange, and trading of securities on it is often more sporadic than trading of securities listed on a national 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, please see the Company’s Annual Report on Form 10-K for the year ended December 31, 2018 and its Quarterly Reports on Form 10-Q, including but not limited to the discussion under “Risk Factors” therein, which the Company filed with the SEC and may be viewed at http://www.sec.gov.

SOURCE Tapinator

Tapinator Reports Third Quarter 2019 Financial Results

— Revenue year-to-date grew 29% year-over-year to $3.0mm

— Bookings year-to-date decreased 5% year-over-year to $2.5mm

— Adjusted bookings year-to-date grew 16% year-over-year to $2.5mm

— Adjusted Category Leading Apps bookings year-to-date grew 108% year-over-year to $1.7mm

— Net loss year-to-date decreased 28% year-over-year to $1.5mm

— Adjusted EBITDA year-to-date increased 50% year-over-year to $213k

 

New York, NY – November 14, 2019 – Tapinator, Inc. (“Tapinator,” the “Company,” “we,” “our,” or “us”) (OTCQB: TAPM), a developer and publisher of category leading apps for mobile platforms, with a focus on social casino games, today announced financial results for the three and nine months ended September 30, 2019, and the filing of its quarterly report on Form 10-Q for the period ended September 30, 2019.  The quarterly report may be found at http://www.sec.gov.  The results provided below replaces, in their entirety, any guidance or projections previously issued by the Company.

 

Ilya Nikolayev, Tapinator’s Chief Executive Officer, stated, “The strong year-to-date growth of our Category Leading Apps bookings, on both an absolute and as adjusted basis, speaks to the momentum of our social casino games, such as Video Poker Classic, and, we believe, is indicative of the future growth opportunities presented by these titles. As we continue to invest in live operations for these games, we believe that we have a clear pathway to achieving greater scale with our existing products as well as launching and growing two new social casino products in 2020.”

 

Third Quarter 2019 Financial Highlights (unaudited):
Three Months EndedNine Months Ended
Sept. 30, 2019Sept. 30, 2018Sept. 30, 2019Sept. 30, 2018
GAAP Results:
Revenue$818,703$681,337$2,977,353$2,303,698
Net Loss($571,482)($607,999)($1,496,376)($2,080,931)
Diluted Net Loss Per Share($0.01)($0.01)($0.02)($0.02)
Non-GAAP Results:*
Bookings:
   Category Leading Apps$526,896$787,064$1,737,637$1,336,948
   Rapid-Launch Games$261,408$300,677$803,041$1,350,751
Total Bookings$788,304$1,087,741$2,540,678$2,687,699
Adjusted Bookings:**
    Category Leading Apps, as adjusted$526,896$287,064$1,737,637$836,947
    Rapid-Launch Games$261,408$300,677$803,041$1,350,751
Total Adjusted Bookings$788,304$587,741$2,540,678$2,187,699
Adjusted EBITDA($12,846)($27,237)$213,327$142,158

 

*A table has been included later in this press release with non-GAAP adjustments to the Company’s revenue resulting in Bookings (a non-GAAP measure) and non-GAAP adjustments to the Company’s net loss, resulting in adjusted EBITDA (a non-GAAP measure) for the relevant periods.

 

**As adjusted to remove the effect of bookings recorded pursuant to one-time upfront payments that we received in connection with a 2018 software license agreement ( “Non-Recurring Bookings”) whereby we granted to a third party exclusive, worldwide rights to localize, publish, distribute and operate the Company’s Solitaire Dash mobile game (the “SD License Agreement”).  A table has been included later in this press release with non-GAAP adjustments to the Company’s Bookings (a non-GAAP measure) resulting in Adjusted Bookings (also a non-GAAP measure).

 

Strategy

In early 2017, we began a major strategic shift to focus more of our investment and management resources into our Category Leading Apps business and, more specifically, into the social-casino genre. We believe the potential size, quality and sustainability of revenues and earnings from this business is significantly greater than that of our legacy Rapid-Launch Games business. We completed this shift during the fourth quarter of 2018 and we are now focused on developing and operating these Category Leading Apps, primarily within the social-casino genre.

 

Our goal for our Category Leading Apps business is to develop a small number of core franchise titles, primarily within the social-casino genre, that can achieve lifespans of at least five to ten years, and where we can grow these titles into sustainable market leaders within their respective product categories. In order to accomplish this, we are working to achieve customer lifetime values that exceed customer acquisition cost, at scale. To date, we have been able to achieve this, at certain customer volumes, for two products: Video Poker Classic and Solitaire Dash. We seek to build a valuable portfolio of these core franchise titles that can represent repeatable, stackable and long-term revenue streams for us.

 

Our Growth Opportunities

 

We believe that we have several promising growth opportunities:

 

  • Existing Games: We are continuously investing in and growing our current games by enhancing their functionality and delivering fresh content, improving our monetization and marketing engines to improve player engagement, increase conversion of free players to paying players and drive per-player monetization. As we continue to develop our games, we believe we will be able to further monetize our existing user base and attract new players. With access to additional marketing capital, we believe there is significant opportunity to scale our existing games as we increase market penetration for these titles.
  • New Games: We intend to continue to capitalize on our ability to build successful social-casino games and evergreen apps by introducing new titles that appeal to specific audiences and offer highly differentiated, best-in-class experiences.
  • Live Operations: We use live operations, or live ops, to create and execute events and promotions that are designed to maximize retention, revenue and player happiness. We view live ops as having four key components: content delivery, offers/promotions, events and product improvements. Content delivery allows us to provide new content (for example, new levels) to our players. Offers/promotions allow us to tailor both free and paid virtual currency and other offers to each player, depending on that player’s past history with the game. Events allows us to provide content in the game that is available for a limited time such as a theme that is unlocked for a specific holiday. Product improvements is a continuous process where we analyze each game’s metrics to invest in existing functionality and new feature development.
  • Strategic Acquisitions: We expect to pursue select strategic acquisitions to augment our organic top line growth and continue to build out our app portfolio. We plan to seek small, entrepreneurial teams that are focused on a single evergreen product. We expect that we will specifically target products that operate at sub-scale or that otherwise have not been optimized to achieve their full monetization potential.

 

Current Outlook

 

Our conviction regarding our social-casino focused, Category Leading Apps business has strengthened during 2019. We delivered year-over-year bookings growth of 30% within this business during the first nine months of this year. When adjusting for bookings recorded in the previous period in connection with one-time upfront payment that we received pursuant to the SD License Agreement, we delivered year-over-year bookings growth in excess of 100% within this business during the first nine months of this year. Based on the strength of this performance and the growth opportunities discussed above, we believe we are well positioned to continue to deliver solid bookings growth in the years ahead. We expect this growth to be driven by our seasoned franchises such as Video Poker Classic and Solitaire Dash, combined with recently launched titles such as Crypto Trillionaire and My Horoscope, and from our new game pipeline. We are particularly excited about our upcoming launch of the latest update to Video Poker Classic in November 2019. This significant update features new progressive jackpot functionality along with expanded Live Ops capabilities. We believe that both features will have a positive impact on retention and monetization, as we continue to invest in and scale Video Poker Classic into 2020.

 

In terms of upcoming game launches, Castle Builder, our new social-casino title, is currently in soft-launch in select international markets and features a slot mechanic, with innovative metagame systems that have been adapted from similar systems used in real money gaming. The title is made possible through Tapinator’s recent licensing deal with a major European real-money slots developer. The real-money version of the product is currently a top performing slot game across over 200 online casinos in a number of European countries. While we previously planned to launch this title globally during the fourth quarter of 2019, we have decided to delay launch until the first quarter of 2020 and instead focus our development and marketing resources for the remainder of 2019 on our already live applications.

 

Looking forward to 2020, we are actively seeking to add to our portfolio of social-casino titles through both organic product development and via selective publishing or acquisition opportunities. We are currently developing one such title that is expected to be released during the first quarter of 2020.

 

*Non-GAAP Financial Measures

 

We have provided in this release the non-GAAP financial measures of bookings and adjusted EBITDA, as a supplement to the measures of Revenue and Net Loss, which are prepared in accordance with United States generally accepted accounting principles (“GAAP”). Management uses bookings and adjusted EBITDA internally in analyzing our financial results to assess operational performance and liquidity. The presentation of bookings and 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 bookings and adjusted EBITDA in assessing our performance and when planning, forecasting and analyzing future periods. We believe bookings and adjusted EBITDA are 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. Below we have provided reconciliations between our historical and projected bookings and adjusted EBITDA to the most directly comparable GAAP financial measures below.  Some limitations of bookings and adjusted EBITDA are as follows:

 

  • Bookings does not reflect that we defer and recognize online game revenue over the estimated life of durable virtual goods;
  • 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 and impairment of capitalized software. Although depreciation and amortization and impairment of capitalized software are non-cash charges, the assets being depreciated and amortized or impaired 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 bookings and adjusted EBITDA along with other financial performance measures, including Revenue, Net Income (Loss), Diluted Net Income (Loss) Per Share, Cash Flow from Operations, Operating Income (Loss) and our other financial results presented in accordance with GAAP.

 

Reconciliations of GAAP to Non-GAAP Results and Other Non-GAAP Reporting Adjustments:
Three Months EndedNine Months Ended
Sept. 30, 2019Sept. 30, 2018Sept. 30, 2019Sept. 30, 2018
          Reconciliation of Revenue to Bookings:
Revenue$818,703$681,336$2,977,353$2,303,698
Change in deferred revenue($30,399)$406,405($436,675)$384,001
Bookings$788,304$1,087,741$2,540,678$2,687,699
 

Reconciliation of Bookings to

Adjusted Bookings:

 Bookings$788,304$1,087,741$2,540,678$2,687,699
 Non-Recurring Bookings($500,000)($500,000)
 Adjusted Bookings$788,304$587,741$2,540,678$2,187,699

 

 

Three Months EndedNine Months Ended
Sept. 30, 2019Sept. 30, 2018Sept. 30, 2019Sept. 30, 2018
Reconciliation of Net Loss to Adjusted EBITDA:
 Net loss($571,482)($607,999)($1,496,376)($2,080,931)
 Interest expense, net(352)(1,136)(2,144)133,465
 Income taxes7754,575
 Amortization of capitalized software development153,283166,176494,285437,199
 Depreciation and amortization of other assets1,3312,2304,4377,085
 Amortization of debt discount187,876
 Stock-based expense404,374412,7171,213,1251,452,889
 Adjusted EBITDA($12,846)($27,237)$213,327$142,158

 

About Tapinator
Tapinator Inc. (OTCQB: TAPM) develops and publishes category leading apps for mobile platforms, with a focus on social casino games. Tapinator’s library includes over 300 titles that, collectively, have achieved over 495 million mobile downloads, including notable properties such as Video Poker Classic and Solitaire Dash. Tapinator generates revenues through the sale of branded advertising and via consumer transactions, including in-app purchases and subscriptions. Founded in 2013, Tapinator is headquartered in New York, with product development and marketing teams located in North America, Europe and Asia. Consumers can find high-quality mobile entertainment wherever they see the ‘T’ character logo, or at 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,” “goal,” “plan,” “feel,” “may,” “will,” “expect,” “anticipate,” “estimate,” “intend,” “target,” and similar expressions (as well as other words or expressions referencing future events, conditions or circumstances) are intended to identify forward-looking statements. These forward-looking statements include, among other things, our belief that we are very well situated to achieve continued revenue and bookings growth, our belief that the potential size, quality and sustainability of revenues and earnings from the Category Leading Apps business is significantly greater than our legacy Rapid-Launch Games business, our belief that our year-to-date revenue and bookings growth of our social casino games and our seasoned franchises titles, such as Video Poker Classic and Solitaire Dash, is indicative of the future growth opportunities by these titles, our belief that we have a clear pathway to achieving greater scale with our existing products as well as launching and growing two new social casino products in 2020, our goal for our Category Leading Apps business to develop a small number of core franchise titles that can achieve lifespans of at least five to ten years and grow into sustainable market leaders and that can represent repeatable, stackable and long-term revenue streams for us, our belief that the potential size, quality and sustainability of revenues and earnings from the Category Leading Apps business is significantly greater than that of our legacy Rapid-Launch Games business, our belief  that we will be able to further monetize our existing user base and attract new players and our intent to continue to capitalize on our ability to build successful social-casino games and evergreen apps by introducing new titles that appeal to specific audiences and offer highly differentiated, best-in-class experiences.  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. 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 Marketplace 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 Marketplace is not a stock exchange, and trading of securities on it is often more sporadic than trading of securities listed on a national 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, please see the Company’s Annual Report on Form 10-K for the year ended December 31, 2018, including but not limited to the discussion under “Risk Factors” therein, which the Company filed with the SEC and may be viewed at http://www.sec.gov.

 

SOURCE Tapinator, Inc.

Tapinator, Inc. Reports Second Quarter 2019 Financial Results
  • Revenue grew 83% year-over-year to $1.3mm
  • Category Leading Apps Revenue grew 282% year-over-year to $1.1mm
  • Bookings grew 9% year-over-year to $967k
  • Category Leading Apps Bookings grew 101% year-over-year to $566k
  • Net loss decreased 52% year-over-year to $265k
  • Adjusted EBITDA increased 2,781% year-over-year to $293k

 

 

New York, NYAugust 13, 2019 – Tapinator, Inc. (OTCQB: TAPM), a developer and publisher of category leading apps for mobile platforms, with a significant emphasis on social casino games, today announced financial results for the three and six months ended June 30, 2019, and the filing of its quarterly report on Form 10-Q for the period ended June 30, 2019.  The quarterly report may be found at http://www.sec.gov.  The results provided below replaces, in their entirety, any guidance or projections previously issued by the Company.

 

Ilya Nikolayev, Tapinator’s Chief Executive Officer, stated, “The Company had a very strong second quarter with solid company-wide Bookings growth led by our social-casino focused, Category Leading Apps. We now have a solid base of these products from which we plan to continue to expand via our strategy of developing select, best-in-class mobile software applications with a clear focus on the social-casino genre.”

 

First Quarter 2019 Financial Highlights (unaudited):

 

 

Three Months EndedSix Months Ended
       Jun. 31, 2019Jun. 31, 2018 Jun. 31, 2019Jun. 31, 2018
GAAP Results:
Revenue$1,345,595$733,673$2,158,650$1,622,361
Net Loss($265,191)($557,052)($924,894)($1,472,932)
Diluted Net Loss Per Share$0.00($0.01)($0.01)($0.02)
Cash$509,905$1,340,296$509,905$1,340,296
Non-GAAP Results:*
Bookings:
    Category Leading Apps$566,462$280,467$1,210,741$549,884
    Rapid-Launch Games$219,236$436,413$541,633$1,050,074
Total$785,698$716,880$1,752,374$1,599,958
Adjusted EBITDA$293,239$10,180$226,172$170,297

*A table has been included later in this press release with non-GAAP adjustments to the Company’s revenue resulting in Bookings (a non-GAAP measure) and non-GAAP adjustments to the Company’s net loss, resulting in adjusted EBITDA (a non-GAAP measure) for the relevant periods.

 

Andrew Merkatz, President and Chief Financial Officer of Tapinator commented on the Company’s results. “We are very proud of our operating results for the first half of 2019. Our previous strategic decision to focus on Category Leading Apps is now paying beginning to pay off in the form of solid Revenue, Bookings and adjusted EBITDA growth.  As we look out over the next 12 months, we believe we are very well situated to achieve continued Revenue and Bookings growth. Over the last year, we have significantly improved both the product and earnings quality of our core mix of apps.  We are now positioned to invest more heavily into these existing products, while we selectively develop new applications with significant potential to enhance our portfolio.”

 

 

Strategy

In early 2017, we began a major strategic shift to focus more of our investment and management resources into our Category Leading Apps business and more specifically into the social-casino genre. We believe the potential size, quality and sustainability of revenues and earnings from this business is significantly greater than that of our legacy Rapid-Launch Games business. We completed this shift during the fourth quarter of 2018 and we are now focused on developing and operating these Category Leading Apps, with a significant focus on the social-casino genre. In 2018, the revenue for the social casino market reached $5.2 billion, according to Eilers & Krejcik. The social casino market grew 10.9% year-on-year in the final quarter of 2018 according to the same report. The larger competitors in this market include SciPlay (Nasdaq: SCPL), Zynga (Nasdaq: ZNGA), Playtika (acquired by Giant Interactive for $4.4 billion in 2016) and Murka Entertainment (acquired by the Blackstone Group in 2019). These companies have achieved success by (1) focusing on the most well established social casino game types (e.g., slots, bingo and multiplayer poker) and (2) focusing on improving production values, running live ops, and adding content to their games rather than gameplay innovation. We believe this creates market opportunity for several winning strategies. First, with games such as Video Poker Classic, we have focused on niche casino game types that are not dominated by large competitors yet, nonetheless, have significant player followings. We believe similar niche opportunities continue to exist. Second, with the upcoming launch of Castle Builder, our new slots title, we believe that applying gameplay innovation to slots, an area that otherwise offers sparse differentiation between games, can result in a highly sustainable and successful product. Based on the previous success of indie developer Moon Active’s Coin Master, which, according to Think Gaming, has achieved $75 million in annual revenue, we are confident that the slots area is ripe for gameplay innovation.

 

Our goal for our Category Leading Apps business is to develop a small number of core franchise titles, primarily within the social-casino genre, that can achieve lifespans of at least five to ten years, and where we can grow these titles into sustainable market leaders within their respective product categories. In order to accomplish this, we are working to achieve customer LTVs that exceeds customer acquisition cost, at scale. To date, the Company has been able to achieve this, at certain customer volumes, for three products: Video Poker Classic, Crypto Trillionaire and Solitaire Dash. We seek to build a valuable portfolio of these core franchise titles which can represent repeatable, stackable and long term revenue streams for Tapinator.

 

Current Outlook

Our conviction regarding our social-casino focused, Category Leading Apps business has strengthened during 2019. We delivered year-over-year Bookings growth in excess of 100% within this business during the first two quarters of this year. Based on the strength of this performance, we are now targeting company-wide Bookings growth for 2019 in the range of 8%-12%, and Category Leading Apps Bookings growth in excess of 50%. This growth is expected to be derived from our seasoned franchises such as Video Poker Classic and Solitaire Dash, combined with recently launched titles such as Crypto Trillionaire and My Horoscope, and from Castle Builder, our new social-casino title that we plan to launch globally during the fourth quarter of 2019. Castle Builder features a slot mechanic, with innovative metagame systems that have proven their success in the world of real money gaming. The title is made possible through Tapinator’s recent licensing deal with a major European real-money slots developer. The real-money version of the product is currently a top performing slot game across 200+ online casinos in a number of European countries. Looking forward to later this year and into 2020, we are actively seeking to add to our growing portfolio of social-casino titles through organic product development, and via selective publishing and acquisition opportunities.  We expect to make further announcements regarding these product initiatives in the coming months.

 

*Non-GAAP Financial Measures

We have provided in this release the non-GAAP financial measures of Bookings and adjusted EBITDA, as a supplement to the measures of Revenue and Operating Income, which are prepared in accordance with United States generally accepted accounting principles (“GAAP”). Management uses Bookings and adjusted EBITDA internally in analyzing our financial results to assess operational performance and liquidity. The presentation of Bookings and 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 Bookings and adjusted EBITDA in assessing our performance and when planning, forecasting and analyzing future periods. We believe Bookings and adjusted EBITDA are 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. Below, we have provided reconciliations between our historical and projected Bookings and adjusted EBITDA to the most directly comparable GAAP financial measures below.  Some limitations of Bookings and adjusted EBITDA are as follows:

 

  • Bookings does not reflect that we defer and recognize online game revenue over the estimated life of durable virtual goods;
  • 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 and impairment of capitalized software. Although depreciation and amortization and impairment of capitalized software are non-cash charges, the assets being depreciated and amortized or impaired 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 Bookings and adjusted EBITDA along with other financial performance measures, including Revenue, Net Income (Loss), Diluted Net Income (Loss) Per Share, Cash Flow from Operations, Operating Income (Loss) and our other financial results presented in accordance with GAAP.

 

Reconciliation of GAAP to Non-GAAP Results (unaudited):

 

 

Three Months EndedSix Months Ended
Jun. 30, 2019Jun. 30, 2018Jun. 30, 2019Jun. 30, 2018
Reconciliation of Revenue to Bookings:
Revenue$1,345,595$733,673$2,158,650$1,622,361
Change in deferred revenue($559,897)($16,793)($406,276)($22,403)
Bookings$785,698$716,880$1,752,374$1,599,958
Three Months EndedSix Months Ended
Jun. 30, 2019Jun. 30, 2018Jun. 30, 2019Jun. 30, 2018
Reconciliation of Net Loss to Adjusted EBITDA:
 Net loss($265,191)($557,052)($924,894)($1,472,932)
 Interest expense, net(3,564)(732)(1,791)134,601
 Income taxes3,8003,800
 Amortization of capitalized software development156,303142,014341,002271,022
 Depreciation and amortization of other assets1,3162,397$,1065,748
 Amortization of debt discount187,876
 Stock-based expense404,374419,766808,7491,040,182
Adjusted EBITDA$293,237$10,193$226,171$170,297

 

About Tapinator

Tapinator Inc. (OTCQB: TAPM) develops and publishes category leading apps for mobile platforms, with a significant emphasis on social casino games. Tapinator’s library includes over 300 titles that, collectively, have achieved over 470 million mobile downloads, including notable properties such as Video Poker Classic, Solitaire Dash and Crypto Trillionaire. Tapinator generates revenues through the sale of branded advertising and via consumer transactions, including in-app purchases and subscriptions. Founded in 2013, Tapinator is headquartered in New York, with product development and marketing teams located in North America, Europe and Asia. Consumers can find high-quality mobile entertainment wherever they see the ‘T’ character logo, or at 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,” “plan,” “feel,” “may,” “will,” “expect,” “anticipate,” “estimate,” “intend,” “target,” and similar expressions (as well as other words or expressions referencing future events, conditions or circumstances) are intended to identify forward-looking statements. These forward-looking statements include, among other things, our belief that we are very well situated to achieve continued Revenue and Bookings growth, our belief that the potential size, quality and sustainability of revenues and earnings from the Category Leading Apps business is significantly greater than our legacy Rapid-Launch Games business, our belief that that niche opportunities continue to exist in the casino games business and that applying gameplay innovation to slots can result in a highly sustainable and successful product in this business, our goal for our Category Leading Apps business to develop a small number of core franchise titles that can achieve lifespans of at least five to ten years and grow into sustainable market leaders, and our target projection that our Bookings growth for 2019 will be between 8%-12% and our Category Leading Apps Bookings growth will be in excess of 50%.  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, our ability to continue Revenue and Bookings growth, our ability to capitalize on niche opportunities in the casino games business (including our ability to apply gameplay innovation in this business which may result in a highly sustainable and successful product in this business) and our ability to achieve Bookings growth for 2019 of 8%-12% and Category Leading Apps Bookings growth of over 50%. 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, please see the Company’s Annual Report on Form 10-K for the year ended December 31, 2018, including but not limited to the discussion under “Risk Factors” therein, which the Company filed with the SEC and may be viewed at http://www.sec.gov.

 

CONTACT:

Tapinator Investor Relations

investor.relations@tapinator.com

914.930.6232

 

Source:  Tapinator, Inc.

Tapinator, Inc. Launches Major Update to Video Poker Classic, the Top Video Poker Game on Mobil

New York, NY— April 25, 2019 –Tapinator, Inc. (OTCQB: TAPM) (“Tapinator”), a developer and publisher of category leading apps for mobile platforms, today announced that it has launched a major update to Video Poker Classic, the top video poker game on mobile.

 

Video Poker Classic is the most popular video poker game on iOS and is a leading video poker property on both Google Play and the Amazon Appstore. On iOS, the title maintains over 25,000 reviews with an average score of 4.7 out of 5.0. One of the reasons for the title’s success is its consistency with a real-world casino experience.

 

To quantify the size of the video poker market, we can look to certain gaming jurisdictions, such as Louisiana and Illinois, that have published data specifically on video poker revenue. In 2013, Louisiana’s adjusted gross video poker revenue was over $600 million and represented 20 percent of the state’s net daily gaming revenue. In Illinois in 2013, video poker revenue was about $300 million relative to about $1.5 billion in adjusted gross casino revenue. In 2018, the revenue for the social casino market reached $5.2 billion, according to Eliers & Krejcik. Based on the size of the video poker market as a percentage of the real-money gaming market, we believe there to be significant growth potential for video poker within the social casino segment. Video Poker Classic is currently ranked approximately in the Top 150 in Downloads and Top 100 in Grossing within the Casino category on iOS.

 

Our new 2.0 version brings multi-hand capability, a popular casino feature, to the game’s core single-hand gameplay. More specifically, we have introduced Triple Play, Five Play, and Ten Play for all of our 39 game types. With this new version, Video Poker Classic  has the richest offering of any video poker title on mobile devices, in terms of game types, gameplay formats (Single Hand, Triple Play, Five play, Ten play) and overall functionality.

 

“We are excited that, with this major update, we have yet again raised the bar for the video poker category on mobile devices. We are looking forward to future updates later this year that will continue to refine and optimize our category-leading product,” said Tapinator CEO, Ilya Nikolayev.

 

About Tapinator

Tapinator Inc. (OTCQB: TAPM) develops and publishes category leading apps for mobile platforms. Tapinator’s library includes over 300 titles that, collectively, have achieved over 450 million mobile downloads, including notable properties such as Video Poker Classic, Solitaire Dash and Crypto Trillionaire. Tapinator generates revenues through the sale of branded advertising and via consumer transactions, including in-app purchases and subscriptions. Founded in 2013, Tapinator is headquartered in New York, with product development and marketing teams located in North America, Europe and Asia. Consumers can find high-quality mobile entertainment wherever they see the ‘T’ character logo, or at 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,” “feel,” “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. The forward-looking statements include, among other things, our belief that there is significant growth potential for Video Poker Classic within the social casino market segment.  Forward-looking statements in this release involve substantial risks and uncertainties that could cause the development and monetization of our mobile games and apps, 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, our ability to penetrate the social casino market segment sufficiently enough to allow for significant growth for Video Poker Classic. 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, please see the Company’s Annual Report on Form 10-K for the year ended December 31, 2018, including but not limited to the discussion under “Risk Factors” therein, which the Company filed with the SEC and may be viewed at http://www.sec.gov.

 

CONTACT:

Tapinator Investor Relations

investor.relations@tapinator.com

914.930.6232

 

Source:  Tapinator, inc.

 

Tapinator Launches Crypto Themed Mobile Game Exclusively on iOS

Tech Industry Mints Its First Crypto Trillionaire 

 

NEW YORK (February 12, 2019) Tapinator, Inc. (OTCQB: TAPM), a publisher of category leading apps for mobile platforms, today announced the January 31, 2019 global release of Crypto Trillionaire exclusively on Apple’s iOS platform.   In order to bring this unique, best-in-class idle tapper game to mobile players worldwide, Tapinator has joined forces with the game’s developer, Robot Cake Games of Hannover, Germany.

 

Following its initial global launch on iOS, Crypto Trillionaire was featured by Apple as a “New Game We Love,” in 152 countries, including the United States. To-date, Crypto Trillionaire has achieved the following iOS metrics:

 

– Nearly 250,000 player downloads

– Excellent rating of 4.7 (out of 5.0) stars, based on over 4,000 player reviews

– Reached #3 Top Strategy Games in the United States

– Reached #89 Top Grossing for Strategy Games in the United State

– Achieved #1 organic search result for the term “Crypto” within the App Store

 

Tapinator’s CEO, Ilya Nikolayev, commented on the games release, “We achieved a very successful initial global launch with Crypto Trillionaire on iOS and we plan to invest significantly in future product updates and marketing with the intention of making Crypto Trillionaire a true category leader within the idle tapper genre across all major mobile platforms. The player response to the game has been fantastic and we are seeing solid metrics for both retention and ABPDAU (average bookings per daily active user). The idle tapper category has shown to support top grossing games with multi-year lifespans. We look forward to game enhancements that we expect will continue to improve player engagement and lifetime value, thereby allowing us to scale up our user acquisition budget. While it is still extremely early in the game’s lifecycle, based on what we have seen thus far, we believe Crypto Trillionaire will have a material positive impact on our 2019 bookings results.”

 

Crypto Trillionaire is the first of several planned major releases for Tapinator’s Category-Leading Games & Apps business for 2019. Future releases will be announced in the coming months.

 

About Tapinator

Tapinator Inc. (OTCQB: TAPM) develops and publishes category leading apps for mobile platforms. Tapinator’s library includes over 300 titles that, collectively, have achieved over 450 million mobile downloads, including notable properties such as Video Poker Classic, Dice Mage and Solitaire Dash. Tapinator generates revenues through the sale of branded advertising and via consumer transactions, including in-app purchases and subscriptions. Founded in 2013, Tapinator is headquartered in New York, with product development and marketing teams located in North America, Europe and Asia. Consumers can find high-quality mobile entertainment wherever they see the ‘T’ character logo, or at http://tapinator.com.

 

Crypto Trillionaire is a mobile app game developed solely for entertainment purposes.  It does not allow players to purchase, accumulate, trade, or otherwise transact in actual cryptocurrency or crypto-assets of any kind.

 

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,” “feel,” “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. The forward-looking statements include, among other things, our intention to make Crypto Trillionaire a true category leader within the idle tapper genre across all major mobile platforms through significantly investing in product updates and marketing, our expectation that game enhancements will continue to improve player engagement and lifetime value thereby allowing us to scale our user acquisition budget and our belief Crypto Trillionaire will have a material positive impact on our 2019 bookings results.  Forward-looking statements in this release involve substantial risks and uncertainties that could cause the development and monetization of our mobile games and apps, 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, our ability to invest our financial and development resources in a way that will lead to Crypto Trillionaire becoming a true category leader, our ability to continue to attract and retain Crypto Trillionaire players, the possibility of our competitors developing games that players prefer to Crypto Trillionaire, our ability to utilize Robot Cake Games to successfully increase the adoption of Crypto Trillionaire globally  and our ability to successfully develop updates and future features of Crypto Trillionaire which players will adopt. 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 within the disclaimers section of Tapinator.com.

 

CONTACT:

Tapinator Investor Relations

investor.relations@tapinator.com

914.930.6232

 

Source: Tapinator

TAPM News - Tapinator to Make Product Announcement at Leading Blockchain Conference

Tapinator Sponsors and CEO Will Speak on Panel at ETH Denver – NEW YORK, – (https://www.financialnewsmedia.com News Alert) – Tapinator, Inc. (OTCQB: TAPM), a leading developer and publisher of mobile games on the iOS, Google Play, Amazon, and Ethereum platforms, today announces that it is sponsoring and will speak on a panel at leading blockchain conference, ETH Denver on February 17th. The panel will focus on the intersection of blockchain & gaming and the Company will announce it first blockchain product, which will be released by Tapinator’s subsidiary, Revolution Blockchain, in Q2 of this year.

 

 

“We are very excited to attend and present at one of the industry’s top blockchain conferences. We believe that gaming is one of the most exciting verticals for blockchain technology and we look forward to sharing more information about our first product on February 17th,” commented Ilya Nikolayev, CEO of Tapinator. Read this and more TAPM news at https://www.financialnewsmedia.com/profiles/tapm.html

 

 

ETH Denver, along with its sister events, has over 2,500 people registered to participate in its events. The conference and hackathon focuses on emerging blockchain technologies (like Ethereum), which its organizers believe ‘could bring about the most significant technological and social advancements since the advent of the internet’. Notable ETH Denver sponsors, in addition to Tapinator, include Thiel Fellowship, CryptoKitties and MetaMask.

 

About Tapinator

Tapinator develops and publishes mobile games and decentralized apps on the iOS, Google Play, Amazon, and Ethereum platforms. Tapinator’s portfolio includes over 300 mobile gaming titles that, collectively, have achieved over 450 million player downloads, including games such as ROCKY(TM), Video Poker Classic, Solitaire Dash, and Dice Mage. Tapinator generates revenues through the sale of branded advertisements and via consumer transactions, including in-app purchases. Founded in 2013, Tapinator is headquartered in New York, with product development teams located in the United States, Germany, Bulgaria, Pakistan, Indonesia and Canada. Consumers can find high-quality mobile entertainment wherever they see the ‘T’ character logo, or the ‘Revolution Blockchain’ wordmark.

 

About ETH Denver

Decentralization is underway. In the coming years, emerging blockchain technologies (like Ethereum) will aid in distributing power from the center to the edges of our communities. This movement could bring about the most significant technological and social advancements since the advent of the internet. Ethereum Denver has supported the blockchain community since early 2014. Along with its sister events, there are over 2,500 people registered to participate in its events.

 

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 next stage of our development, the deleveraging and strengthening of our balance sheet and the execution of our organic growth strategy to differ significantly from those expressed or implied by the forward-looking statements. Such risks and uncertainties include, among others, whether Revolution Blockchain will be successful in launching its first product by the second quarter of 2018, if at all, and whether such product will be well received in the marketplace, our belief that the applicability of blockchain technology will expand from currency trading to industry-changing applications and games and our belief that we are well positioned to become a leader within the decentralized apps market. 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 within the disclaimers section of Tapinator.com.

 

Contact:
investor.relations@tapinator.com
+1(914)930-6232

SOURCE Tapinator, Inc.

 

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About Tapinator


 

Tapinator was founded by a visionary team that has worked together to build mobile games and applications since 2007 and has achieved successful exits for their investors.  View a Corporate Video Here

 

 

For a complete Investor Presentation, please go to:  https://tapinator.com/investorpresentation

 

Tapinator Inc. (OTCQB: TAPM) develops and publishes category leading apps for mobile platforms, with a focus on social casino games. Tapinator’s library includes over 300 titles that, collectively, have achieved over 500 million mobile downloads, including notable properties such as Video Poker Classic and Solitaire Dash. Tapinator generates revenues through the sale of branded advertising and via consumer transactions, including in-app purchases and subscriptions. Founded in 2013, Tapinator is headquartered in New York, with product development and marketing teams located in North America, Europe and Asia. Consumers can find high-quality mobile entertainment wherever they see the ‘T’ character logo.

 

 

Meet our Executive Team:

 

 

Ilya Nikolayev, CEO

Ilya Nikolayev is an accomplished technology executive who previously served as the CEO and Co-Founder of Familybuilder. 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 Familybuilder to Intelius in 2011, generating a significant return for all of its investors. Mr. Nikolayev was also a co-founder at InAppFuel, a patented minigame software for mobile game developers that was sold to Tapinator in 2014. Prior to Familybuilder, Mr. Nikolayev worked in banking for JP Morgan. Mr. Nikolayev is a frequently cited industry expert who has appeared recently on Fox Business, Bloomberg and TheStreet. Mr. Nikolayev graduated cum laude from New York University.

 

 

Andrew Merkatz, President

Andrew Merkatz is a finance executive with 20 years of experience as an operator and investor 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 was sold to Intelius in 2011. In 2013, Mr. Merkatz co-founded InAppFuel, a developer of patented minigame software for mobile game developers that was acquired by Tapinator in 2014.  Mr. Merkatz joined Tapinator as the Company’s President in June of 2015.  Mr. Merkatz holds a B.A. in Economics, with distinction, from the University of Pennsylvania, and an M.B.A. from Harvard Business School.

 

 

Teymour Farman-Farmaian, Independent Director

Teymour Farman-Farmaian is currently Head of USA at XAPO, one of the world’s largest Bitcoin custodians. Previously, Mr. Farman-Farmaian was CMO at Spotify, the world’s leading music streaming service, a company he joined in 2011. Mr. Farman-Farmaian was responsible for subscription revenues and led a team of over 100 employees. He helped triple revenue growth to hit a $500 million run rate, and achieve 7.5 million DAU. In 2012, Mr. Farman-Farmaian left Spotify to focus on various start-ups with heavy viral and engagement components. Before Spotify, Mr. Farman-Farmaian 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 as relationships with Yahoo (YHOO) and Google (GOOG). Mr. Farman-Farmaian joined Zynga after six years at Google where he held various roles including Director of European Sales Operations. Mr. Farman-Farmaian has a BA from Duke University and an MBA from Harvard University.

 

 

Spencer G. Feldman, Independent Director

Mr. Feldman is a partner in the New York City law firm of Olshan Frome Wolosky LLP, where he has been a member of its corporate and securities group since September 2013. He was previously a principal shareholder in the law firm Greenberg Traurig LLP, practicing in its corporate and securities department, which he joined in 1993. Mr. Feldman has more than 30 years of experience practicing corporate and securities law and concentrates his practice in the areas of initial public offerings, follow-on offerings, shelf takedowns, confidentially marketed offerings, registered directs, PIPEs and other private financings, and mergers & acquisitions with public companies, with an emphasis on representing computer, Internet, media and other technology-driven companies. Nominating & Governance Committee(Chair), Audit Committee, Compensation Committee.

 

 

Desmond Glass, Independent Director

Since November 2017, Mr. Glass has served as Group Chief Financial Officer and company Secretary at RWS Holdings PLC (RWS.L), an AIM-listed multinational language and professional services provider, where he is responsible for shaping and executing upon the financial strategy of the business. From April 2008 until October 2017, Mr. Glass served as the Chief Financial Officer of GAN PLC, a provider of enterprise online gaming software, operational support services and online game content development services to the casino industry. Mr. Glass is a dynamic and hands-on Chief Financial Officer, with proven international leadership experience gained in both public and private venture backed companies, who brings a rare blend of strategic and commercial acumen coupled with a pragmatic and open leadership style. Prior to his time at RWS Holdings PLC and GAN PLC, Mr. Glass held positions at Evexar Limited, Rodale International Limited, ABC Inc., and Deloitte, among others. Mr. Glass received his Bachelor of Commerce from University College Dublin, his ACA from the Institute of Chartered Accountants in Ireland, and his MBA from Imperial College London. Audit Committee(Chair), Nominating & Governance Committee, Compensation Committee.

 

Source:  https://www.tapinator.com/

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