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SPYR Inc. (SPYR) Announces Plans to Boost Shareholder Value Through Market Expansion, Product Upgrades
May 12, 2022

SPYR Inc. (SPYR) Announces Plans to Boost Shareholder Value Through Market Expansion, Product Upgrades

  • SPYR Inc. is a Texas-based company dedicated to delivering quality in-demand Internet of Things (“IoT”) products for smart home and auto consumers of Apple products
  • The company’s flagship products are developed by subsidiary Applied Magix, which also sources white label Apple HomeKit(TM) products and accessories 
  • SPYR recently announced evaluation of potential expansion into Mexico, Central Europe and Thailand to extend its global reach beyond its U.S. operations and its representative office in Hong Kong
  • The company is also sharply discounting many of its products in a summer sale as it prepares to develop new upgraded versions
  • SPYR has also announced that the company is working to develop new Car Play-compatible products

Apple-compatible product developer SPYR (OTCQB: SPYR) is examining opportunities to expand its reach to Latin America, Central Europe and Thailand to grant its smart home and connected car market products a global scale. 

The Internet of Things (“IoT”) developer already has a representative office in Hong Kong for potential supply of its Apple ecosystem tie-in solutions, which include chargers, adapters and data blockers produced under subsidiary Applied Magix as the source of white label Apple HomeKit(TM) products and accessories, as well as own-brand products. 

“These are markets that need to be considered for future expansion and we may as well start investigating a foundation now, with an eye towards the future,” SPYR CEO Tim Matula stated (https://ibn.fm/YwuZ4). “Applied Magix’ research and investigative efforts in this direction will help SPYR gain a worldwide footprint and potentially reach many more customers.”

The company has been working to increase shareholder value through a number of product upgrades, sales and marketing efforts. 

“We are constantly upgrading our product pipeline, and our efforts to streamline our inventory benefit our tech-enthusiastic customers by making aggressive discounts available to them during our Summer Sales events,” Applied Magix CEO Harald Zink stated while announcing discounts of more than 50 percent on some of the company’s products in order to move them out ahead of expected improved versions (https://ibn.fm/gZFFT).

“As we will continue to support all of our products, our existing customers are protected, as we do not orphan any of our products,” he added. 

The company announced the launch of its new development initiative to upgrade MagixDrive, the flagship product that is a wireless adapter between iPhones and vehicle CarPlay infotainment systems, in an April 21 news release that also indicated the company is preparing to develop other Car Play products. 

“Following the success of our MagixDrive Wireless CarPlay adapter, we are now really excited to hint at the next evolution of it, as we’ve listened to customer feedback and are looking at adding new features to this project,” Zink stated (https://ibn.fm/3Z6kd).

SPYR is targeting what it regards as a significant market opportunity in creating smart hardware and software solutions exclusively for Apple customers. The company regards Apple customers as a group of consumers willing to pay for the privilege of getting higher quality out of their products, and it notes that there is a dearth of smart devices designed to properly integrate with Apple’s HomeKit. 

SPYR has also reported that it is evaluating the possibility of acquiring a developer of proprietary lighting technologies for the transportation and industrial industries, and the developer of a proprietary web-based software-hardware package used for asset tracking and management by the construction, agriculture, police and energy industries, among others (https://ibn.fm/ZcWtA).

For product information, please see the Applied Magix website at https://AppliedMagix.com, or specific product sites:

For more information, visit the company’s website at www.Spyr.com.

NOTE TO INVESTORS: The latest news and updates relating to SPYR are available in the company’s newsroom at https://ibn.fm/SPYR

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