SPYR Technologies Access to Capital Signals Company's Entrance into Apple Smart Home Market
NEW YORK, NY, Feb. 22, 2021 (GLOBE NEWSWIRE) -- SPYR Technologies (OTC Pink: SPYR) spent Q4 2020 laying the groundwork for its launch into the technology industry, and last week, the final, and most important, piece of the equation fell into place—access to capital—namely an approved S-1 registration statement that will generate funds for corporate expansion and further acquisitions. The U. S. Securities and Exchange Commission (SEC) approved the company’s registration statement and made it effective on February 11, 2021, at a premium above the current market price, which should convey a vote of confidence for SPYR’s chosen path forward by both the company and financial backers.
With this registration statement now effective, it signifies the last step in SPYR’s journey to proceed with its plans of developing and growing its footprint in the technology industry and should lead directly to the company once again up-listing to the OTCQB in the very near future. It’s an up-list that would likely trigger the company’s engagement of the impressive $15 million in funding commitments it secured last quarter to keep SPYR fully capitalized while it builds a portfolio of technology assets.
SPYR’s first foray into the technology sector will be entering the “Internet of Things” (IoT) industry, and more specifically, the fast-growing, multi-billion-dollar, global smart home market. The company acquired the IoT-technology company, Applied MagiX Inc., a registered AppleÒ developer, and reseller of Apple ecosystem compatible products that are concentrated on the smart home market. Applied MagiX became SPYR’s wholly owned subsidiary in what was an extremely active Q4 2020—a quarter that also saw SPYR announce the capital it receives through its funding commitments, will pay for future growth of Applied MagiX and bankroll additional acquisitions in the technology sector.
So, the question is why has SPYR chosen the smart home market to establish itself in the technology space? Well, the simple answer is presumably future growth as the global smart home market is currently valued at around $80 billion and is projected to quickly reach well over $130 billion in just a few short years according to many of the experts that follow trends in the industry.
Numerous market reports discussing the short-term future of the thriving global smart home market are all forecasting dramatic growth. The reports range from $135.3 billion by 2025, at a CAGR of 11.6% according to Research and Markets, a worldwide research firm with 450+ Fortune 500 clients, to $207.88 billion by 2027, growing at a CAGR of 13.52% from Verified Market Research’s report, a leading global research and consulting firm, to a more aggressive forecast of $313.95 billion by 2026, growing at a CAGR of 25.3% over the forecast period (2021-2026) announced by Mordor Intelligence, a marketing and research firm.
Numbers like these are hard to ignore and the future of the market is limitless given the myriad products constantly being developed to make our lives easier and our homes smarter. With the acquisition of Applied MagiX, SPYR will compete in the segment of the smart home market related to the development, manufacture, and sale of devices and accessories specifically built on Apple’s HomeKit® framework. These products work within the Apple HomeKit ecosystem and are exclusive to the Apple market and its consumers.
The Internet of Things space is a mix of “smart” products that connect to the internet and can be controlled by a range of different platforms, from Amazon’s Alexa to Google Home to Samsung SmartThings. And HomeKit is Apple’s IoT solution, which is designed to let you control various internet-connected home devices that connect HomeKit-enabled smart accessories together in a way that lets you operate them using your Apple devices. Essentially, it’s a platform designed to makeit easy for manufacturers of smart home devices to add iOS compatibility to their products.
Applied MagiX, which has its Apple Developer License as part of Apple’s “Developer Program,” is currently identifying and developing what will be its signature line of products in the Apple HomeKit space. The path forward for SPYR, via Applied MagiX, will be to choose from the almost inexhaustible list of products and accessories that are becoming internet-connected and add new capabilities to those products, like cameras, lights and sensors, locks, thermostats, outlets, refrigerators, window blinds, speakers and much more.
Verified Market Research, when addressing the growth in the smart home market, said, “Growing advancements in Internet of Things (IoT), rising demand for energy-efficient solutions, and increasing adoption by consumers have driven the global smart home market.”
Additionally, the firm says that the rising importance of home monitoring in remote locations, increasing need for energy-saving and low carbon emission-oriented solutions, the rapid proliferation of smartphones and smart gadgets, expansion of the smart home product portfolio by a large number of players, growing concern about safety, security, and convenience among the general population will all drive growth in the market.
Global research firm, Research and Markets, explained in its report titled, “Smart Homes and Home Automation in North America and Europe,” “Smart home and home automation systems include a wide range of solutions for controlling, monitoring, and automating functions in the home. Smart home systems can be grouped into seven primary 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 estimates that there will be 179-million homes in North America and Europe alone that will become “smart” homes by 2024. It is this kind of growth and an ever-expanding portfolio of potential products and accessories that leave SPYR and Applied MagiX entering a seemingly burgeoning market with exponential growth ahead of it at just the right time.
Read SPYR Technologies’ press releases which outline its productive Q4 2020 and the plans it has to move the company forward in 2021 and beyond, its acquisition, and the funding commitments the company has secured 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 compatible products with an emphasis on the growing multi-billion-dollar smart home market. SPYR continues to identify and target acquisitions that will grow its footprint in the industry and expand the products it offers consumers, including companies developing artificial intelligence and smart-technology products.
About Stock Market Media Group
Stock Market Media Group is a news & media content development IR firm offering a platform for corporate stories to unfold in the media with press releases, feature news articles, corporate videos, radio-style CEO interviews, 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 the companies, their business, markets, and opportunities in our articles. Any opinions we may offer about any of the companies we write about are solely our own and are made in reliance upon our rights under the First Amendment to the U.S. Constitution, and are provided solely for the general opinionated discussion of our readers. Our opinions should not be considered to be complete, precise, accurate, or current investment advice, or construed or interpreted as research. Any investment decisions you may make concerning any of the securities we write about are solely your responsibility based on your own due diligence. Our publications are provided only as an informational aid, and as a starting point for doing additional independent research. We encourage you to invest carefully and read the investor information available at the web site of the U.S. Securities and Exchange Commission at www.sec.gov, where you can also find all of SPYR Technologies’ filings and disclosures. We also recommend, as a general rule, that before investing in any securities, you consult with a professional financial planner or advisor, and you should conduct a complete and independent investigation before investing in any security after prudent consideration of all pertinent risks. We are not a registered broker, dealer, analyst, or advisor. We hold no investment licenses and may not sell, offer to sell, or offer to buy any security. Our publications about SPYR Technologies are not a recommendation to buy or sell a security.
Should Stock Market Media Group and its management own shares in the profiled company, they may benefit from any increase in the share price of the profiled companies and hold the right to sell the shares bought or issued at any given time including shortly after the release of the company’s profile. Section 17(b) of the 1933 Securities and Exchange Act requires publishers who distribute information about publicly traded securities for compensation, to disclose who paid them, the amount, and the type of payment. Under the Securities Act of 1933, Section 17(b), Stock Market Media Group discloses that it was remunerated fifteen-thousand dollars for a period of one month, paid for by a third party via bank wire, to produce content related to SPYR Technologies.
In February 2015, SPYR agreed to issue to us 250,000 shares of SPYR’s Restricted Common Stock. Our rights to sell any of this Restricted Common Stock are subject to prior compliance with all U.S. Securities Laws, including but not limited to Rule 144. Further, our sale of any of the Restricted Common Stock is subject to a volume restriction providing that we may only sell 5,000 shares daily for every 250,000 shares of daily trading volume. All shares have been held for the requisite period under Rule 144 and were eligible to be sold immediately upon reaching the requisite holding period without further notice.
Stock Market Media Group and its management never accept compensation in free-trading shares for its marketing services of the company being profiled, however third parties that have compensated Stock Market Media Group may hold free-trading shares of the company being profiled and could very well be selling shares of the company’s stock at the same time the content is being disseminated to potential investors; this should be viewed as a definite conflict of interest and as such, the reader should take this into consideration.
For more information: www.stockmarketmediagroup.com.
Stock Market Media Group firstname.lastname@example.org
Navigating the IT & Cybersecurity Skills Gap