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"We increased our revenues almost 40% between our fiscal years of 2008 and 2009. We are very optimistic that we will continue this trend given the projected performance of mobile phone games in our market," Mr. Peter Liu, Amico's President and CEO commented. "The statistics released by Analysys International indicate the huge market opportunity that mobile phone gaming holds for the future. Additionally with consideration of our ongoing R&D plans and the outstanding performance of our JAVA game of Journey to the West Online, I believe that we will enjoy substantial growth in the near future."
In 2008, the Chinese mobile phone game market value reached RMB 1.365 billion (or USD 200 million), an increase of 62.67% from 2007. Analysys International estimates that the compound growth rate will be 45.54% from 2008 to 2011. This booming market growth is due primarily to the rapid growth in mobile phone ownership, reaching over 660 million users in 2009, the expansion of 3G network availability and the improvements made by mobile phone game developers in creation of, operation and marketing capabilities of their product. According to Analysys International, JAVA games occupied 72% market share in 2008
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The mobile gaming segment generated revenues of RMB 120 million ($17.5 million) in 2007. Our management believes that 2009 is likely to be a turning point for the mobile game market in terms of rapid expansion due to the upcoming launch of 3G services in China. Revenues from the online mobile game market in China are expected to have almost tripled to RMB 380 million ($55.65 million) in 2008 and to grow accordingly in 2009.
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Networked gaming and digital distribution drive business model diversification
Revenues from U.S. online gaming services will increase from $1.1 billion in 2005 to more than $3.5 billion in 2009, according to Networked Gaming: Driving the Future, a new report from Parks Associates. Networked gaming services, including online console gaming, massively multiplayer online gaming (MMOG), multiplayer Internet gaming, and mobile multiplayer gaming, will account for almost 50% of online gaming revenues in 2009, followed by digital downloads at 23%.
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AMCG, an information technology company specializing in developing and operating mobile phone multiplayer networked games, announced that its total game registered user base has reached a total of 20,601,939 as of December 31, 2009, representing an increase growth of 129.12% over the past 12 months
According to statistics in Amico's database, the Company's games user base increased substantially from 2008 to 2009, as shown in the following chart:
Registered User Number as of Game Names Game Type December 31, December 31, Growth Rate 2008 2009 Miracle Journey to the West WAP* 8,171,953 15,861,021 94.09% Fantasy Wulin WAP 819,968 3,000,812 265.97% Journey to the West Online JAVATM** N/A 1,740,106 100% Total 8,991,921 20,601,939 129.12%
*WAP, Wireless Application Protocol, a wireless communications environment for delivering web data to mobile handsets with minimal screen display **Java(TM), a software and technology environment that has been specifically designed by Sun Microsystem to enable the development of applications on mobile devices
"The data is very encouraging," Mr. Peter Liu, Amico's President and CEO, stated, "we regard the registered users as one of our most important assets Our game products are always evolving and being enhanced, thus making for a more enjoyable and entertaining game playing experience for our users. The growth in registered users indicates two important components for us, firstly, most users are happy with our game products; secondly, our operation and marketing teams have performed well in their duties in the past year. In return, we will strive to continue this positive trend to provide better products and services to our users."
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The mobile gaming segment generated revenues of RMB 120 million ($17.5 million) in 2007. Our management believes that 2009 is likely to be a turning point for the mobile game market in terms of rapid expansion due to the upcoming launch of 3G services in China. Revenues from the online mobile game market in China are expected to have almost tripled to RMB 380 million ($55.65 million) in 2008 and to grow accordingly in 2009.
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AMCG), an information technology company specializing in developing and operating mobile phone multiplayer networked games, anticipates significant growth in the Chinese mobile games industry. The market value of China's burgeoning mobile phone game market is forecasted to be RMB 2.68 billion (or USD 394 million) in 2010 and may reach RMB 4.21 billion (or USD 619 million) in 2011 according to statistics released in 2009 by Analysys International
"We increased our revenues almost 40% between our fiscal years of 2008 and 2009. We are very optimistic that we will continue this trend given the projected performance of mobile phone games in our market," Mr. Peter Liu, Amico's President and CEO commented. "The statistics released by Analysys International indicate the huge market opportunity that mobile phone gaming holds for the future. Additionally with consideration of our ongoing R&D plans and the outstanding performance of our JAVA game of Journey to the West Online, I believe that we will enjoy substantial growth in the near future."
In 2008, the Chinese mobile phone game market value reached RMB 1.365 billion (or USD 200 million), an increase of 62.67% from 2007. Analysys International estimates that the compound growth rate will be 45.54% from 2008 to 2011. This booming market growth is due primarily to the rapid growth in mobile phone ownership, reaching over 660 million users in 2009, the expansion of 3G network availability and the improvements made by mobile phone game developers in creation of, operation and marketing capabilities of their product. According to Analysys International, JAVA games occupied 72% market share in 2008
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Milestones November 2001, Galaxy Software (Guangzhou) Limited was incorporated. October 2002, Galaxy and its partner developed and introduced the first RPG multiplayer WAP game, Heroes of the Marshes. March 2003, Galaxy partnership with Guangzhou Aochuang Information Technology Co., Ltd., to provide SMS and WAP games. December 2003, multiplayer SMS games, Journey to the West in Tang Dynasty commercially launched under a cooperation with Shenzhen Tencent December 2005, Galaxy established cooperation relation with Shenzhen Tencent. May 2006, WAP game, Miracle Journey to the West commercially launched under a cooperation with Shenzhen Tencent November 2006, Galaxy received WAP license of Guangdong Mobile. July 2007, WAP cellphone game, Miracle Jiutian. commercially launched under a cooperation with Beijing Downjoy Information Technology Co., Ltd November 2007, Galaxy received WAP license of Guangdong Unicom. October 2008, WAP cellphone game, Miracle Wulin. commercially launched under a cooperation with Shenzhen Tencent February 2009, commenced testing of Java ™ game Journey to the West OL. May 2009, Java ™ game, Journey to the West OL, was commercially launched. In July 2009, Galaxy’s mobile community gateway was introduced to the market, China-Cellphone Game Gateway.
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Asia-Pacific is expected to remain the largest market for mobile games, with revenues predicted to reach $3.4 billion by 2011, up from $2.3 billion in 2008. The North American market is projected to grow to approximately $1.2 billion in 2011, up from $845 million in 2008.
The new worldwide projection for 2011 is 50% lower than what Gartner had announced in June 2007, and likely reflects ongoing economic concerns.
Gartner's new projection is similar to one made by Understanding & Solutions in December 2007. The company said mobile games would generate $6 billion in revenues in 2011, up from $3.6 billion in 2007.
Juniper Research made a much more aggressive projection in November 2007, putting 2012 mobile gaming revenues at $16 billion.
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Impressive. AMCG, an information technology company specializing in developing and operating mobile phone multiplayer networked games, announced that its total game registered user base has reached a total of 20,601,939 as of December 31, 2009, representing an increase growth of 129.12% over the past 12 months...
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AMCG: Currently, Galaxy Software Ltd. operates three mobile phone multiplayer games: "Miracle Journey to the West," "Fantasy Wulin," and "Journey to the West OL." During the three months ended October 31, 2009, the WAP game "Miracle Journey to the West" gained 1,689,722 new users, bringing its total users to 14,846,490. This is a potential growth rate of almost 7,000,000 new users over the span of one year if the growth trend continues and consequently a significant increase in revenue
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AMCG, an information technology company specializing in developing and operating mobile phone multiplayer networked games, has engaged Michael Glass as its Director of North American Development. Mr. Glass will look for opportunities to expand Amico's operations into North America through acquisition and licensing of applicable software for use in the Chinese market. To aid Mr. Glass in creating exposure for the company, Amico entered into an agreement for office premises in the center of North America's software and information technology world: San Francisco.
Mr. Glass has over 20 years of experience in software development and has previously provided services for top companies such as British Telecom, Intel, Cisco Systems, Barclays and Microsoft. The Company anticipates that through Mr. Glass' knowledge and experience in the software industry, as well as his vast network of contacts, the Company will be able to develop its presence in North America and take advantage of various technologies and products to increase its profitability in the Chinese market.
"I think Amico has a great future and I'm proud to be a part of developing the Company's North American presence. North America has a lot of gaming technologies which I think will help Amico really grow its business in China," stated Michael Glass.
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Amico Games will develop and operate mobile phone multi-player networked games through Galaxy Software (Guangzhou) Limited, a private-owned company. Established in 2001, Galaxy is one of the pioneer developers of mobile phone multi-player gaming in China. Galaxy is also the first Chinese company to cooperate with Nokia (the worlds leading mobile phone supplier) to develop Java™ ™ multi-player mobile phone games. Galaxy Software is also the first company to provide the popular wrestling genre games and multi-player games over the WAP platform of China Mobile™ (In addition to having the world’s largest mobile network, China Mobile has the greatest number of mobile subscribers
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Amico Reports First Quarter and Three Month Results
Market Wire "US Press Releases " SAN FRANCISCO, CA -- (MARKET WIRE) -- 01/27/10 -- Amico Games Corp. (OTCBB: AMCG), an information technology company specializing in developing and operating mobile phone multiplayer networked games in China, today announced its results for the first quarter ended November 30, 2009.
2009 Key Financial Highlights
-- Revenues for the three months ended November 30, 2009 were $476,526, up60.68% from same period in 2008.-- Net income for the three month ended November 30, 2009 increased by 187.17%.
Mobile Phone Games under Operation
The company is currently operating three self-developed mobile phone games through various mobile value-added service providers:
Miracle Journey to Journey to thethe West Fantasy Wulin West OLDevelopmentPlatform WAP WAP Java ™Mobile Network 2.5G 2.5G 2.5GOpen Beta TestDate May 2006 October 2008 May 2009Registered Usersas of December31, 2009 15,861,021 3,000,812 1,740,106
"We are glad to achieve a substantial increase in revenue and net income. In particular, we are pleased that we have been able to fund our businesses entirely from our revenue," said Mr. Peter Liu, the President & CEO of AMCG. "Over the past quarter, we have overcome the negative effects caused by the global economic recession and have been able to grow at a substantial speed. In light of the giant Chinese telecommunication market and fast growing market demand for mobile leisure entertainment, we are confident that we will be able to maintain stable growth in the coming quarter. We are committed to maintaining our position as a leader in our industry and developing new games to capture the strong market demand."
About Amico Games Corp.
Amico Games Corp. is a software company specializing in developing mobile phone games for the Chinese market. On December 31, 2009, Amico acquired Galaxy Software Limited, a Chinese private-owned company incorporated in November 2001. Galaxy is one of the earliest mobile phone multiplayer game developers in China, as well as one of the first Chinese companies to develop and operate Java™ MMRPOG (massive multiplayer role playing online games) mobile phone games. It is also the first company to provide multiplayer games over the WAP platform of China Mobile, the world's largest mobile phone provider based upon subscribers. For more information, please visit the Amico's website at: www.amicogames.com
Safe Harbor Statement
Except for historical information contained herein, the matters set forth above may be forward-looking statements that involve certain risks and uncertainties that could cause actual results to differ from those in the forward-looking statements. Words such as "anticipate," "believe," "estimate," "expect," "intend" and similar expressions, as they relate to Amico or its management, identify forward-looking statements. Such forward-looking statements are based on the current beliefs of management, as well as assumptions made by and information currently available to management. Actual results could differ materially from those contemplated by the forward-looking statements as a result of certain factors such as the level of business and consumer spending, the amount of sales of Amico's products, the competitive environment within the industry, the ability of Amico to continue to expand its operations, the level of costs incurred in connection with Amico's expansion efforts, economic conditions in the industry and the financial strength of Amico's customers and suppliers. Amico does not undertake any obligation to update such forward-looking statements. Investors are also directed to consider all other risks and uncertainties.
ContactInvestor Relations OfficeTel: 1-877-331-8777Email: info@amicogames.com201 Spear Street, Suite 1100San Francisco, CA 94105USA
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AMCG NEWS: Amico Reports First Quarter and Three Month Results SAN FRANCISCO, CA, Jan 27, 2010 (MARKETWIRE via COMTEX) -- Amico Games Corp. /quotes/comstock/11k!amcg (AMCG 0.71, +0.05, +7.58%) , an information technology company specializing in developing and operating mobile phone multiplayer networked games in China, today announced its results for the first quarter ended November 30, 2009.
2009 Key Financial Highlights
-- Revenues for the three months ended November 30, 2009 were $476,526, up 60.68% from same period in 2008.
-- Net income for the three month ended November 30, 2009 increased by 187.17%.
Mobile Phone Games under Operation
The company is currently operating three self-developed mobile phone games through various mobile value-added service providers:
Miracle Journey to Journey to the the West Fantasy Wulin West OL Development Platform WAP WAP Java (TM) Mobile Network 2.5G 2.5G 2.5G Open Beta Test Date May 2006 October 2008 May 2009 Registered Users as of December 31, 2009 15,861,021 3,000,812 1,740,106
"We are glad to achieve a substantial increase in revenue and net income. In particular, we are pleased that we have been able to fund our businesses entirely from our revenue," said Mr. Peter Liu, the President & CEO of AMCG. "Over the past quarter, we have overcome the negative effects caused by the global economic recession and have been able to grow at a substantial speed. In light of the giant Chinese telecommunication market and fast growing market demand for mobile leisure entertainment, we are confident that we will be able to maintain stable growth in the coming quarter. We are committed to maintaining our position as a leader in our industry and developing new games to capture the strong market demand."
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AMCG 2009 Key Financial Highlights: -- Revenues for the three months ended November 30, 2009 were $476,526, up 60.68% from same period in 2008
-- Net income for the three month ended November 30, 2009 increased by 187.17%
Mobile Phone Games under Operation
The company is currently operating three self-developed mobile phone games through various mobile value-added service providers:
Miracle Journey to Journey to the the West Fantasy Wulin West OL Development Platform WAP WAP Java ™ Mobile Network 2.5G 2.5G 2.5G Open Beta Test Date May 2006 October 2008 May 2009 Registered Users as of December 31, 2009 15,861,021 3,000,812 1,740,106
"We are glad to achieve a substantial increase in revenue and net income. In particular, we are pleased that we have been able to fund our businesses entirely from our revenue," said Mr. Peter Liu, the President & CEO of AMCG. "Over the past quarter, we have overcome the negative effects caused by the global economic recession and have been able to grow at a substantial speed. In light of the giant Chinese telecommunication market and fast growing market demand for mobile leisure entertainment, we are confident that we will be able to maintain stable growth in the coming quarter. We are committed to maintaining our position as a leader in our industry and developing new games to capture the strong market demand."
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Amico acquired Galaxy Software Limited, headquartered in Guangzhou, China, through a share exchange transaction closed on December 31, 2009.
By acquiring Galaxy, Amico acquired Galaxy's roster of mobile games, local industry expertise, 50 well trained employees and a revenue stream of over US $1.2 million during the year ended August 31, 2009
Mr. Peter Liu, Amico's President and CEO, stated the following upon the closing of the acquisition: "Galaxy is a real leader in the mobile phone game field in China and I'm proud of completing this acquisition and providing value for our shareholders. Galaxy's mobile phone games have been exhibiting tremendous growth during the last quarter of 2009 and we're very optimistic that the recent release of Journey to the West Online, our most advanced game to date, will continue that momentum.
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AMCG is having a great day so far. Buys are outnumbering the sells and Bid and Ask at .68 , .70. Could be a nice green finish for week.
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Amico Games Corp. (OTCBB: AMCG), an information technology company specializing in developing and operating mobile phone multiplayer networked games, anticipates significant growth in the Chinese mobile games industry. The market value of China's burgeoning mobile phone game market is forecasted to be RMB 2.68 billion (or USD 394 million) in 2010 and may reach RMB 4.21 billion (or USD 619 million) in 2011 according to statistics released in 2009 by Analysys International.
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CLosed green at .64. Shows a lot of strength....buyers have it and don't seem to want to sell what they have!! Very nice, good play imo!!
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Amico Announces Online Player Record During Its In-Game Beauty Contest
SAN FRANCISCO, CA -- (Marketwire) -- 02/01/10 --
Amico Games Corp. (OTCBB: AMCG), an information technology company specializing in developing and operating mobile phone multiplayer networked games throughout China, is pleased to announce that it reached its highest amount of simultaneous players with 54,336, during its "Beauty Contest in Miracle Journey to the West" event; a 2 month in-game beauty contest which attracted over 100,000 attendants to the final stage of the contest at the Amico Games headquarters on November 26, 2009
The Beauty Contest was held among players of the company's game, "Miracle Journey to the West" from November 11 to December 27, 2009. During the Beauty Contest, there were 321 female players who registered and participated in the contest. During the pre-selection stage 103,617 players provided a total of 2,022,260 votes with 52,523 players voting through the game's website and 51,094 players voting through the virtual props in the game. On November 26, 2009 AMCG invited finalists and player representatives to Guangzhou City for the final stage contest and to attend the Company's festival. During the contest, there were 2,565 posts published on the official website of "Miracle Journey to the West."
"We received a tremendous response from our players to the Beauty Contest, which proves that our players love our games," Mr. Peter Liu, Amico's President and CEO said. "'Miracle Journey to the West' is our most successful game with over 15 million registered users and a highly recognized product in China. During the final stage of the Contest, all of our management and key R&D staff met with the finalists and player representatives. Our players asked many questions about our future development and proposed many good ideas for our game development. I always believe that our players are our most valuable asset, and we will keep making efforts to develop the best game experience for our players."
About Amico Games Corp
Amico Games Corp. is a software company specializing in developing mobile phone games for the Chinese market. On December 31, 2009, Amico acquired Galaxy Software Limited, a Chinese privately-owned company incorporated in November, 2001. Galaxy is one of the earliest mobile phone multiplayer game developers in China, as well as one of the first Chinese companies to develop and operate Java™ MMRPOG (massive multiplayer role playing online games) mobile phone games. It is also the first company to provide multiplayer games over the WAP platform of China Mobile, the world's largest mobile phone provider based upon subscribers. For more information, please visit the Amico's website at: www.amicogames.com
Safe Harbor Statement:
Except for historical information contained herein, the matters set forth above may be forward-looking statements that involve certain risks and uncertainties that could cause actual results to differ from those in the forward-looking statements. Words such as "anticipate," "believe," "estimate," "expect," "intend" and similar expressions, as they relate to Amico or its management, identify forward-looking statements. Such forward-looking statements are based on the current beliefs of management, as well as assumptions made by and information currently available to management. Actual results could differ materially from those contemplated by the forward-looking statements as a result of certain factors such as the level of business and consumer spending, the amount of sales of Amico's products, the competitive environment within the industry, the ability of Amico to continue to expand its operations, the level of costs incurred in connection with Amico's expansion efforts, economic conditions in the industry and the financial strength of Amico's customers and suppliers
Amico does not undertake any obligation to update such forward-looking statements. Investors are also directed to consider all other risks and uncertainties
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announced today that its total game registered user base has reached a total of 20,601,939 as of December 31, 2009, representing an increase growth of 129.12% over the past 12 months
According to statistics in Amico's database, the Company's games user base increased substantially from 2008 to 2009, as shown in the following chart:
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We closed even today!! Not too bad, though I am sure everyone wanted higher lol. low vol as well, maybe see a turn later in the week. Last Price (USD) $ 0.64 Change ◊ 0 Bid 0.63 Ask 0.64 Volume 46,687 Day's Range 0.63 - 0.69
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Valuation Our peer group includes wireless value-added service providers, Internet portals and mobile games providers in China.
AMCG’s peers currently trade at a 12.78x forward P/E multiple to forecasted 2010 EPS. We believe that the Company deserves a premium valuation relative to the peer group because of its leadership position in China’s fast-growing mobile games segment, We value AMCG at a 19.95x forward P/E multiple.
COMPANY NAME TICKER PRICE PER MRKT CAP P/E P/S Revenue growth
2/4/2010 SYMBOL SHR, $ $ Mn 2009 2010 2009 2010 10 vs. '09
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AMCG NEWS: OTCBB: AMCG) Issued Buy Rating and Price Target of $1.44 NEW YORK, NY -- (Marketwire) -- 02/09/10 --
Amico Games Corp (OTCBB: AMCG) has been issued a price target of $1.44 and a "Speculative Buy" rating from Victor Shula, Ph.D. of Beacon Equity Research.
In the first quarter of 2010, Amico Games revenue has grown a staggering 61% with their total user base up over 129% to more than 20.6 million. This presents a major opportunity for Amico to cross sell their portfolio of popular games enabling a larger share of each customer's wallet.
Amico markets its games primarily in China, one of the fastest growing gaming markets in the world. With recent deregulation of some telecom restrictions in China, the platform for mobile gaming is expanding rapidly, with Amico holding over 11% of the countries mobile gaming wireless application protocol (WAP) market.
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“The Company plans to accelerate its growth pace in 2010 and 2011 by licensing additional games and technologies and further expanding its registered user base. … We think these growth initiatives could increase the Company’s revenues to more than $10 million and net income to more than $5 million by fiscal year-end 2012.
“The Company’s revenues increased almost 40% in FY 2009 and 61% year-over-year in Q1 2010. In the past 12 months, the number of total game-registered users increased 129% to 20.6 million.” Comparable technology companies include: Activision Blizzard Inc. (Nasdaq: ATVI), Electronic Arts Inc. (Nasdaq: ERTS) and Take-Two Interactive Software Inc. (Nasdaq: TTWO).
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AMCG-- Net income for the three month ended November 30, 2009 increased by 187.17%.
Mobile Phone Games under Operation
The company is currently operating three self-developed mobile phone games through various mobile value-added service providers:
Miracle Journey to Journey to the the West Fantasy Wulin West OL Development Platform WAP WAP Java ™ Mobile Network 2.5G 2.5G 2.5G Open Beta Test Date May 2006 October 2008 May 2009 Registered Users as of December 31, 2009 15,861,021 3,000,812 1,740,106
"We are glad to achieve a substantial increase in revenue and net income. In particular, we are pleased that we have been able to fund our businesses entirely from our revenue," said Mr. Peter Liu, the President & CEO of AMCG. "Over the past quarter, we have overcome the negative effects caused by the global economic recession and have been able to grow at a substantial speed. In light of the giant Chinese telecommunication market and fast growing market demand for mobile leisure entertainment, we are confident that we will be able to maintain stable growth in the coming quarter. We are committed to maintaining our position as a leader in our industry and developing new games to capture the strong market demand.
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"The Company plans to accelerate its growth pace in 2010 and 2011 by licensing additional games and technologies and further expanding its registered user base. ... We think these growth initiatives could increase the Company's revenues to more than $10 million and net income to more than $5 million by fiscal year-end 2012.
"The Company's revenues increased almost 40% in FY 2009 and 61% year-over-year in Q1 2010. In the past 12 months, the number of total game-registered users increased 129% to 20.6 million."
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In the first quarter of 2010, Amico Games revenue has grown a staggering 61% with their total user base up over 129% to more than 20.6 million. This presents a major opportunity for Amico to cross sell their portfolio of popular games enabling a larger share of each customer's wallet.
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AMCG: Amico Games Corp,. an information and technology company, reportedly announced that Galaxy Software Limited has developed a proprietary game user interface, which will enable its mobile phone gamers to adapt to most models of Java mobile phones.
The software company, which develops mobile phone games for the Chinese market, entered into an agreement to acquire Galaxy Software Limited.
Currently, mobile phone game developers have to develop specialized versions of their games in order to support different models of mobile phones which is time consuming as there are several models of phones in the market. The proprietary game UI developed by Galaxy will be able to resolve this problem and will offer support for different models of Java mobile phones, Amico sources said.
When a game is downloaded users will be able to adjust the game screen, color style and game layout according to their mobile phones. This universal application of the new game UI enabled Galaxy to reduce its research and development expenditure and also the game sizes thereby increasing its efficiency.
“I am excited to see the completion of this new user interface. It will allow us to develop games more quickly and cost efficiently,” Peter Liu, CEO and president of AMCG, said. “We have applied the new UI to our Java games, and all our Java game players will be able to benefit from the new customization options. Meanwhile, we will be able to complete R&D of new mobile phone games much more quickly so that we can develop more games, thus increasing revenues and shareholder value.”
Amico Games Corp. specializes in developing and operating mobile phone multiplayer networked games. The company entered into an agreement to acquire Galaxy through a share exchange transaction.
Galaxy develops and operates Java MMRPOG or massive multiplayer role playing online games especially for mobile phones. It provides multiplayer games over the WAP platform of China Mobile (News - Alert) a mobile phone provider based upon subscribers.
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Amico Games operates in the lucrative Chinese Telecommunications Sector....which has one of the fastest growing telecom sectors in the world.
AMCG has about 15 million registered users for just one of its products. That's an incredibly large database of users in a BOOMING market...and it's only getting bigger! Just check out their latest announcement that reports net income increasing by 187.17%!
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AMCG.OB announced that "In light of the giant Chinese telecommunication market and fast growting market demand for mobile leisure entertainment, we ae confident that we will be able to maintain stable growth in the coming quarter."
During the three months ended October 31, 2009, the WAP game "Miracle Journey to the West" gained 1,689,722 new users, bringing its total users to 14,846,490. This is a potential growth rate of almost 7,000,000 new users over the span of one year if the growth trend continues and consequently a significant increase in revenue.
Galaxy Software Limited delivers its mobile phone games across JAVA and WAP platforms over 3G and 2.5G mobile telecommunication network in China. As of October 31 2009, Galaxy's WAP game "Miracle Journey to the West" has accumulated around 15,000,000 registered users, taking up 11.1% share of multiplayer WAP game market, which is the market leader of the WAP game in terms of registered users.
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Amico Reports First Quarter and Three Month Results
SAN FRANCISCO, CA--Amico Games Corp. (OTC.BB:AMCG), an information technology company specializing in developing and operating mobile phone multiplayer networked games in China, today announced its results for the first quarter ended November 30, 2009. 2009 Key Financial Highlights
Revenues for the three months ended November 30, 2009 were $476,526, up 60.68% from same period in 2008. Net income for the three month ended November 30, 2009 increased by 187.17%.
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