(NEW YORK)–Freeze Tag, Inc. (OTCMKTS:FRZT), a leading creator of mobile social games, announced that their boards of directors unanimously approved the signing of a definitive agreement to merge Freeze Tag and Munzee in an all-stock transaction.
Munzee, with almost 5 million locations worldwide and hundreds of thousands of players, is a social platform that blends gamification, geolocation and marketing elements into an experience that rewards players for going places in the physical world. Utilizing QR code and GPS technology, Munzee is able to validate a person’s location and provide them points to level up in the various Munzee mobile applications. The Munzee suite of applications includes Munzee, our flagship product, Eventzee, a photo scavenger hunt useful for corporate training and trade shows, and WallaBee, an addictive collecting game with over 2,000 beautifully drawn digital cards. www.munzee.com
Freeze Tag is the creator of Garfield GO, a Pokémon Go style augmented reality (“AR”) game based on Garfield the food-loving cat, which was launched by initially using Munzee’s location data to instantly provide Garfield GO players with millions of digital treasure locations. www.garfieldgo.com
In addition that plan is to capitalize on two fast-growing trends in the mobile applications world: Augmented reality gaming and location-based advertising. The combined company’s proprietary technology and expertise can be leveraged to create more exciting augmented reality location-based games that can serve as a location-based advertising network.
The transaction is expected to close in late 2017, with the combined company retaining the Freeze Tag name and continue to trade under the “FRZT” stock symbol.
Pending Reverse Split
In an 8K filing filing, discussing the merger, the Company mentioned a prospective 1-for-100 reverse stock split planned for on or about September 1, 2017. This news of pending reverse split put bit of a pause on FRZT rally, but with the addition to Munzee under FRZT umbrella the valuation post-split could still provide an attractive play on how these two companies could build on each other going forward.
As the market works out how this story will hash out post-split some traders have been swinging attention to another smaller cap gaming play called AppSwarm, Inc. (OTCMKTS:SWRM), which recently released such mobile games as ‘Avenging Soldiers, zombie game ‘Dead Uncleansed’, Turtles Huh?, Soccers, and their first virtual reality game ‘Komandir’.
In addition to their gaming division, AppSwarm will also be developing and acquiring mobile application tools and platforms that will assist small to medium size businesses by increasing productivity, and managing their data in cloud storage. Their Business Application Division will provide a suite of mobile applications to assist businesses in the areas of data encryption and cyber security, cloud storage, content management and delivery, digital payments, automation, and customer loyalty marketing solutions.
SWRM posted a profit for fiscal year 2016, and currently has just around 55 million shares issued and outstanding.
While hot sectors like cannabis stocks languish over the summer, some small cap traders are finding excitement in mobile game developers like FRZT and SWRM, and both of these plays are expanding out to build on their popular games and into more lucrative business and advertisement opportunities.
About Freeze Tag, Inc.
Freeze Tag, Inc. is a leading creator of mobile social games that are fun and engaging for all ages. Based on a free-to-play business model that has propelled games like Candy Crush Saga to worldwide success, we employ state-of-the-art data analytics and proprietary technology to dynamically optimize the gaming experience for revenue generation. Players can download and enjoy our games for free, or they can purchase virtual items and additional features within the game to increase the fun factor. Our games encourage players to compete and engage with their friends on major social networks such as Facebook and Twitter. Founded by gaming industry veterans, Freeze Tag has launched several successful mobile games including the number one hit series Victorian Mysteries® and Unsolved Mystery Club®, as well as digital entertainment like Etch A Sketch®. Freeze Tag games have been downloaded millions of times on the Apple, Amazon and Google app stores.
AppSwarm, Corp is a technology development and incubation company focused in accelerating the development of mobile applications and technology, fast-tracking product to market. AppSwarm partners with application developers through joint ventures, royalty agreements, marketing partnerships, and outright purchase agreements. For more information, visit us at www.app-swarm.com