Receive instant alerts when news about your actions appears. Claim 1 week free trial at StreetInsider Premium Here.
NEW YORK, NY, February 22, 2021 (GLOBE NEWSWIRE) – SPYR Technologies (OTC Pink: SPYR) spent the fourth quarter of 2020 laying the groundwork for its launch in the technology industry, and last week, the last and most important piece of the equation came into place. – access to capital – namely an approved S-1 registration statement, which will generate funds for the expansion of the corporation and subsequent acquisitions. The US Securities and Exchange Commission (SEC) approved the company’s registration statement and made it effective on February 11, 2021, at a premium over the current market price, which should send a vote of confidence for the path chosen by SPYR both by the company as well as by the financial backers.
With this now effective registration statement, it marks the last step in SPYR’s journey to continue its plans to grow and expand its footprint in the technology industry and should lead directly to the company again listing on the OTCQB in the very near future. . It’s an updated list that would likely trigger the company’s $ 15 million commitment in financing commitments it secured last quarter to keep SPYR fully capitalized while building a portfolio of technology assets.
SPYR’s first foray into the technology sector will enter the multi-billion dollar smart home (IoT) industry and, more specifically, the rapidly growing global smart home market. The company acquired IoT technology company Applied MagiX Inc., an Apple-registered companyA developer and reseller of products compatible with Apple ecosystems, which are focused on the smart home market. Applied MagiX became the wholly owned subsidiary of SPYR in what was extremely active in the fourth quarter of 2020 – a quarter in which SPYR also announced the capital it receives through its financing commitments, will pay for the future growth of Applied MagiX and will acquire additional acquisitions in the technology sector.
So the question is why did SPYR choose the smart home market to establish itself in the technology space? Well, the simple answer is likely future growth, as the global smart home market is currently valued at about $ 80 billion and is expected to quickly reach over $ 130 billion in just a few years, according to many industry trends experts. . .
Numerous market reports discussing the short-term future of the thriving global smart home market predict dramatic growth. Reports range from $ 135.3 billion by 2025 to an 11.6% CAGR according to Research and Markets, a global research firm with more than 450 Fortune 500 customers, to $ 207.88 billion by 2027, increasing to a CAGR of 13.52% of the market verified research ratio. , a global research and consulting company, with a more aggressive forecast of $ 313.95 billion by 2026, rising to a CAGR of 25.3% in the forecast period (2021-2026) announced by Mordor Intelligence, a company marketing and research.
Numbers like these are hard to ignore, and the future of the market is limitless, given the many products under development to make our lives easier and our homes smarter. With the acquisition of Applied MagiX, SPYR will compete in the smart home market segment related to the development, manufacture and sale of devices and accessories built specifically on the Apple HomeKit.® framework. These products operate within the Apple HomeKit ecosystem and are exclusive to the Apple market and its consumers.
The Internet of Things is a mix of “smart” products that connect to the internet and can be controlled by a number of different platforms, from Alexa Amazon to Google Home to Samsung SmartThings. And HomeKit is Apple’s IoT solution, which is designed to allow you to control various internet-connected home devices that connect HomeKit-compatible smart accessories together, in a way that allows you to operate them using your Apple devices. In essence, it’s a platform designed to make it easier for home smart device makers to add iOS compatibility to their products.
Applied MagiX, licensed as an Apple developer as part of Apple’s “Developer Program,” is currently identifying and developing what will be its signature product line in the Apple HomeKit space. The way forward for SPYR, through Applied MagiX, will be to choose from the almost inexhaustible list of products and accessories that become connected to the Internet and add new capabilities to those products, such as cameras, lights and sensors, locks, thermostats , sockets, refrigerators, blinds, speakers and more.
Verified market research, when addressing the growth of the smart home market, said: “Growing advances in the Internet of Things (IoT), growing demand for energy efficient solutions and increasing consumer adoption have led the global smart home market. ”.
In addition, the company says that the growing importance of monitoring homes in remote locations, the growing need for energy-saving and low-carbon solutions, the rapid proliferation of smartphones and smart gadgets, expanding the product portfolio for smart homes with a large number of players, growing concern about safety, security and convenience among the general population will lead to growth in the market.
The global research firm, Research and Markets, explained in its report entitled “Smart Homes and Home Automation in North America and Europe”, “Smart Home and Home Systems include a wide range of solutions for controlling, monitoring and automating functions in The home. Smart home systems can be grouped into seven main categories: security and access control systems; energy management and climate control systems; audio-visual and entertainment systems; lighting and window control systems; healthcare and independent living systems; home appliances and service robotics. ”
Research and markets estimate that there will be 179 million homes in North America and Europe alone, which will become “smart” homes by 2024. This type of growth and a constantly expanding portfolio of potential products and accessories that leave SPYR and Applied MagiX enters a seemingly booming market, with exponential growth ahead of it, at the right time.
Read the press releases of SPYR Technologies presenting its productive quarter IV 2020 and the plans it has to advance the company in 2021 and beyond, the acquisition and the financing commitments that the company has secured https://www.nasdaq.com/market-activity/stocks/spyr/press-releases
About SPYR Technologies
SPYR Technologies is a technology company that, through its subsidiary, Applied MagiX Inc., develops and resells Apple® ecosystem-friendly products with a focus on the multi-billion dollar growing smart home market. SPYR continues to identify and target purchases that will increase its footprint in the industry and expand the products it offers to consumers, including companies that develop artificial intelligence and smart technology products.
About Stock Market Media Group
Stock Market Media Group is an IR news and media development company that provides a platform for corporate storytelling to take place in the media with press releases, news articles, corporate videos, CEO interviews in radio style and research reports.
This article was written based on publicly available information. Stock Market Media Group may, from time to time, include our own opinions about companies, their business, markets and opportunities in our articles. Any opinions we may give regarding any of the companies we write about are solely ours and are based on our rights under the First Amendment to the US Constitution and are provided solely for the general discussion with opinion of our readers. Our opinions should not be construed as complete, accurate, accurate or current investment advice or interpreted or interpreted as research. Any investment decision you may make regarding any of the securities we write about is solely your responsibility based on your own diligence. Our publications are provided for informational purposes only and as a starting point for further independent research. We encourage you to invest carefully and read the investor information available on the US Securities and Exchange Commission website at www.sec.gov, where you can also find all SPYR Technologies records and disclosures. We also recommend, as a general rule, that you invest in a financial planner or professional advisor before investing in any securities and conduct a thorough and independent investigation before investing in any collateral after a careful analysis of all risks. relevant. We are not a registered broker, dealer, analyst or advisor. We do not hold investment licenses and it is not possible to sell, offer to sell or offer to buy any guarantee. Our publications about SPYR Technologies are not a recommendation for buying or selling a title.
If Stock Market Media Group and its management hold shares in the profile company, they may benefit from any increase in the share price of the profile companies and have the right to sell the shares purchased or issued at any time, including shortly after the launch of the company profile. . Section 17 (b) of the Securities Act of 1933 requires publishers who distribute information about publicly traded securities for clearing to disclose who paid them, the amount and the type of payment. Under the Securities Act of 1933, section 17 (b), the Stock Market Media Group discloses that it was remunerated fifteen thousand dollars for a period of one month, paid by a third party by bank transfer, to produce content related to SPYR Technologies. .
In February 2015, SPYR agreed to issue us 250,000 shares of SPYR’s restricted common stock. Our rights to sell any of these restricted common stocks are subject to prior compliance with all U.S. securities laws, including but not limited to Rule 144. In addition, our sale of any restricted common stock is subject to a volume restriction. , provided that we sell 5,000 shares daily for every 250,000 shares of the daily trading volume. All shares were held for the required period in accordance with Rule 144 and were eligible for sale immediately after reaching the required holding period, without prior notice.
Stock Market Media Group and its management never accept compensation in free trading shares for its marketing services of the company that is profiled, however third parties that have compensated Stock Market Media Group may own free trading shares of the company that is profiled and could very well sell shares of the company’s shares at the same time as the content is being distributed to potential investors; this should be seen as a clear conflict of interest and, as such, the reader should take this into account.
For more information: www.stockmarketmediagroup.com.