Dec 02, 2009 08:00 ETAmico Reports Substantial Growth for Galaxy's Mobile GamesHighlighted Links
Amico Games Corp.
MacReport Media PublishingGUANZGHOU, CHINA--(Marketwire - December 2, 2009) - Amico Games Corp. (OTCBB: AMCG), an information technology company specializing in developing multi-player networked mobile phone games, today announced that the mobile phone multiplayer games developed and distributed by Galaxy Software Ltd. experienced substantial growth in registered active users and game revenue from July 2009 to October 2009.
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.
The Java game "Journey to the West OL" had the highest average revenue per paying user as of October 2009 at RMB 50.39 (approximately $7.45 USD), compared to RMB 49.03 (approximately $7.18 USD) of the WAP game "Miracle Journey to the West."
"We are delighted to observe the substantial growth in the performance of our offered products," Mr. Peter Liu, CEO and President of AMCG and Galaxy, stated. "After analyzing the statistics, we are very satisfied to see that our WAP games, 'Miracle Journey to the West' and 'Fantasy Wulin,' are tracking on a stable development trend. Our Java™ game, 'Journey to the West OL,' is maintaining very significant growth since its launch in May 2009. The statistics indicates that new users prefer to play Java™ games which offer better game playing experience, and this coincides with our R&D strategy." Mr. Liu concludes, "We plan to continue offering a high-quality gaming experience for players by developing more Java™ games in the future."
About Amico Games Corp.
Amico Games Corp. (OTCBB: AMCG) is set to acquire a cutting edge interactive entertainment media company specializing in developing multi-player networked mobile phone games that are played over the mobile internet in China - Galaxy Software Limited. 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.
For more information, please visit the Company's website at: www.amicogames.com
Safe Harbor Statement:
Except for the historical information contained herein, the matters discussed in this press release are forward-looking statements. Actual results may differ materially from those described in forward-looking statements and are subject to risks and uncertainties. See Amico Games Corp.'s filings with the United States Securities and Exchange Commission which identify specific factors that may cause actual results or events to differ materially from those described in the forward-looking statements. See Amico Games Corp.'s Current Report on Form 8-K regarding the share exchange agreement with Vodafun Limited, the parent company of Galaxy Software Limited, for details on various conditions which must be met before the share exchange between the two companies closes. There can be no assurance that the share exchange will close. Amico Games Corp. must issue 54,500,000 shares of its common stock to the current shareholder of Vodafun Limited in order to complete the share exchange. Accounting for the anticipated cancellation of 29,800,000 shares of its common stock, Amico Games Corp. will have 72,700,000 shares of common stock issued and outstanding upon the closing of the share exchange.
Overview Amico Games Corp. (OTCBB:AMCG) is set to acquire a cutting edge interactive entertainment media company specializing in developing multi-player networked mobile phone games that are played over the mobile internet in China – Galaxy Software (Guangzhou) Limited. Upon the closing of the anticipated transaction between the companies, Amico will offer a portfolio of diversified gaming content including some of the most popular massive multi-player online role-playing games (MMORPGs) and advanced casual online games in China.
Galaxy's interactive entertainment platform attracts a loyal, large and growing subscriber base. Each user can interact with thousands of other users concurrently and enjoy the interactive entertainment content that Amico provides. The games work across both JAVA™ and WAP (wireless application protocol) platforms over 3G and 2.5G mobile telecommunication network in China.
Amico Games Corp 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 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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The majority of online game revenues in China come from massively multi-player online role-playing games (MMORPGs). An networked game with multiplayers can have a longer product life span than single-player causal games
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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Amico Games Expects 40% Income Tax Reduction Press Release Source: Amico Games Corp. On 9:00 am EST, Wednesday December 9, 2009 Buzz up! 0 Print.Companies:Amico Games Corp GUANZGHOU, CHINA--(Marketwire - 12/09/09) - Amico Games Corp. (OTC.BB:AMCG - News), an information technology company specializing in developing and operating multi-player networked mobile phone games, today announces that, its share exchange partner, Galaxy Software Limited is expected to be eligible for a 40% income tax reduction from 25% to 15% during the upcoming calendar year, which will greatly improve its profitability.
Related Quotes Symbol Price Change AMCG.OB 0.57 0.00
{"s" : "amcg.ob","k" : "c10,l10,p20,t10","o" : "","j" : ""} According to the tax policy published by Guangzhou Local Tax Bureau in November 2008, enterprises being officially identified as "high technology" will enjoy the beneficial income tax rate of 15%. Also, shareholders will be free of personal tax if they invest dividends into the enterprise. This is one of many efforts by local Chinese government to support and promote "high technology" businesses such as Galaxy.
Galaxy is qualified to apply for the beneficial tax policy as an information technology company and has submitted all necessary documentation to the Guangzhou Local Tax Bureau. The management believes that its application will be processed by the end of December 2009 and the company will be able to take advantage of the decreased tax rate on its earnings.
Mr. Peter Liu, CEO and President of Galaxy, commented, "We appreciate the beneficial tax policy published by Guangzhou Local Tax Bureau, which will improve our profitability substantially. This tax reduction will enable us to retain more of our earnings to invest into future R&D programs and marketing activities, thus create more value for our shareholders. We are excited about the upcoming year and a reduction in tax will only help our company to grow and continue to establish itself as the leader in our field."
About Amico Games Corp.
Amico Games Corp. (OTC.BB:AMCG - News) is set to acquire a cutting edge interactive entertainment media company specializing in developing multi-player networked mobile phone games that are played over the mobile internet in China -- Galaxy Software Limited. 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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This tax reduction will enable AMCG to retain more of their earnings to invest into future R&D programs and marketing activities, thus create more value for their shareholders
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Galaxy is qualified to apply for the beneficial tax policy as an information technology company and has submitted all necessary documentation to the Guangzhou Local Tax Bureau. The management believes that its application will be processed by the end of December 2009 and the company will be able to take advantage of the decreased tax rate on its earnings.
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Apart from our ongoing buy recommendation for SNWT (which has given a HUGE PROFIT of up to 750% during its previous run ) our pick for this Christmas is Amico Games Corp. (OTC: AMCG), which has closed at a year high of $0.65 in yesterday’s trading session. The stock has jumped about 30% so far this month. Technically speaking, AMCG is looking very strong with clear indications that it has just started to move up. Also, in the last few days, we have noticed a sudden spike up in the volume, which is a very good sign to pump in to the stock. Moving to fundamentals - Amico Games Corp (OTCBB: AMCG) is at the forefront of the BOOMING Chines interactive online mobile phone gaming segment...and poised to continue being a leading in this lucrative industry! Top 5 Investment Highlights for Amico Games #1. The FIRST professional mobile online game developer in China #2. The FIRST company to cooperate with Nokia to develop mobile K-Java online games #3. The FIRST mobile game operator to operate self-developed mobile online games #4. The FIRST online game developer to provide mobile mutual wrestle games and online games over GRPS/WAP platform #5. The Market Leader in its Segment with approximately 11% market share AMCG appears to be continuing the great upward momentum we have seen for this month now. For more information please see our research story at http://www.************.com/static/amcg.html We strongly recommend you to subscribe to our FREE newsletter by logging in to http://www.************.com/ to get instant updates on news, development, technical indication, and much more… About Amico Games Inc. Amico Games Inc. is set to acquire a cutting edge interactive entertainment media company specializing in developing multi-player networked mobile phone games that are played over the mobile internet in China - Galaxy Software Limited. Upon the closing of the anticipated transaction between the companies, Amico will offer a portfolio of diversified gaming content including some of the most popular massive multi-player online role-playing games (MMORPGs) and advanced casual online games in China. Galaxy's interactive entertainment platform attracts a loyal, large and growing subscriber base. Each user can interact with thousands of other users and enjoy the interactive entertainment content that Amico provides. The games work across both JAVAT and WAP (wireless application protocol) platforms over 3G and 2.5G mobile telecommunication network in China. About Liquid Tycoon.com Liquid Tycoon.com issues alerts to members about stocks poised to make triple-digit gains within days. Some of our members have generated many tens of thousands of dollars to hundreds of thouands of dollars based upon the our trade ideas. 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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.
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 Announces Online Player Record During Its In-Game Beauty Contest
Market Wire "US Press Releases " SAN FRANCISCO, CA -- (MARKET WIRE) -- 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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Guess how many U.S. cities have populations consisting of 5 million people or more?
You guessed it - 6.
Now, guess how many there are in China?
You got it again - 51. That's right...51 cities with populations greater than 5 million.
And they all want to live the Western life style with all the technological advances and luxuries that can be experienced.
On that note, there are two types of Chinese based stocks that I believe could witness superior growth and the highest gains in the markets by capitalizing on the enormous population growth within China.
The first involves those Companies with a focus on infrastructure. The second involves those that cater to the emerging consumer class.
China is noted as being the largest emerging consumer class in the history of the world...and thanks to Globalization - you could invest on the forefront of what could be the biggest decade-long growth surge of all time.
That being said...what communications product or technology do you think could flourish and become a staple for most people in China much like it did in the U.S.?
MOBILE PHONES!
** China is now the largest mobile telecommunications market in the world! ***
According to data published by the China Ministry of Industry and Information Technology, there are almost three times more mobile phone handset users than Internet users in China. The total amount of mobile phone users as of the end of 2008 is estimated at 300 million.
And Amico Games Corp (OTCBB: AMCG) is at the forefront of the interactive online mobile phone gaming segment...which could bode well for shareholders since AMCG.OB has only recently started trading!
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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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