NEW YORK, NY, March 25, 2021 (GLOBE NEWSWIRE) - SPYR Technologies (OTC Pink: SPYR) took just 5 months to get to where the company is today - entering the revenue-generating phase of its business plan. business. Five months ago, SPYR moved into the technology industry as SPYR Technologies, secured a $ 15 million financing commitment, and acquired the Internet of Things (IoT) company, Applied MagiX, Inc., a registered apple company® developer who develops and resells products compatible with Apple ecosystems, with a focus on the growing, multi-billion dollar smart home market. Since that corporate transformation, SPYR has been extremely transparent and, with the help of Applied MagiX, has hit all the cylinders and checked a list of promised landmarks one after another.
The company's most recent success is SPYR, through its wholly owned subsidiary, Applied MagiX, in the abyss of sales of the initial delivery of an Apple range.® HomeKit® products that arrived long before the deadline. It is the first of what should be a multitude of shipments of products verified from the company's trusted supplier, Onvis. These products will start boosting sales and generating revenue for the company.
Every publicly traded company and its shareholders enjoy this moment. It is the point where a company simply stops discussing its plans for the future and instead starts fulfilling them. With the products available now, SPYR is in a unique position to develop a business plan, act on it and is ready to turn those October 2020 ideas into the fundamentals of 2021.
SPYR CEO James R. Thompson said: “Let's face it, the goal of business is to make a profit. The more profit you make, the more value we create for shareholders and the more we can take advantage of greater and better opportunities to continue to grow. ”
In SPYR's efforts to do just that - generate revenue and make a profit - the company, along with Applied MagiX, provided more clarity this week about the products in this first delivery and provided more details about each of them. they, including (i) Onvis C3 HomeKit Secure Camcorder; (ii) Onvis SMS1 intelligent multifunction sensor; (iii) Onvis CS1 multifunction intelligent alarm sensor; and (iv) the Onvis CT2 smart contact sensor. (https://www.nasdaq.com/press-release/spyr-technologies-applied-magix-receive-shipment-of-apple-homekit-products-ahead-of)
Applied MagiX will sell the 4 different "essential HomeKit products" on its website to Apple HomeKit consumers and those on the market to "understand" their homes. Website https://appliedmagix.com is completely redesigned to include an online store, and Applied MagiX expects to launch the site soon.
Dr. Harald Zink, CEO of Applied MagiX, said of the company's initial strategy of delivering products from its trusted partners, such as Onvis, "This strategy of reselling verified products will allow us to start generating revenue and we are one step closer to profitability as we develop our own branded Apple HomeKit products for market launch. ”
It is an ideal strategy that includes selling the products mentioned above, as well as other Apple HomeKit products and accessories, Apple Watch® accessories and even Apple CarPlay® products and accessories. The strategy saves the company time to continue to develop and produce its own line of Apple HomeKit products and accessories, which will likely charge an even higher price and lead to even higher revenues.
Given that sales will begin very soon, this is where the CEO of Applied MagiX should excel, given his expertise and long-standing relationships in the Apple community with the development and marketing of the brand's products and accessories. Applied MagiX will launch an advertising / marketing campaign to online destinations and through social networks to reach HomeKit enthusiasts and consumers directly. As revenues begin to grow, SPYR can reinvest in the company and create new sources of revenue through additional Smart Home products, other technologies and subsequent acquisitions.
The SPYR CEO said: “The importance of SPYR / Applied MagiX to create revenue generating opportunities with the initial products that the company will order and sell is to start the cash flow as Applied MagiX builds its sales infrastructure ( online store and other distribution channels, satisfaction, etc.) and the product mix to prepare us to meet the demand we anticipate for our proprietary products that we intend to introduce later in the year.
The main driver of profitability is income. The more SPYR / MagiX applied can increase revenue, the more likely it is to increase profits. If SPYR reaches higher revenue levels and can manage costs so that they increase at a lower rate, then SPYR / Applied MagiX can maximize profits. As more shipments arrive and Applied MagiX is able to advertise and market Apple HomeKit products, the company can accelerate revenue growth and ultimately generate more profits faster, which will allow SPYR to (a) make more profits, (b) reinvest in the company, (c) create new sources of income, (d) merge or acquire another business, and (e) improve the value of the company for its investors.
This should be music to the ears of the shareholder and hear words such as sales, revenue, profitability, earnings and fundamentals, is an interesting place to be a SPYR shareholder. With SPYR now able to start generating revenue, increasing its revenue will have a strong impact on the company and will act as the engine that allows SPYR to reinvest, purchase additional products, acquire other companies, and expand its operations and obtain and more growth and profit in the future.
Read SPYR Technologies' press releases at 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 products and smart technology.
About Applied MagiX, Inc.
Applied MagiX is an Internet of Things (IoT) company based in Manhattan Beach, California, with an office in Hong Kong. The company is registered with Apple® developer who develops and resells products compatible with Apple ecosystems, with a focus on the growing, multi-billion dollar smart home market.
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