NEW YORK, August 2, 2016 /PRNewswire/ --
Tapinator, Inc. (OTC:TAPM), ("Tapinator" or the "Company") a designer, developer and publisher of mobile games on the iOS, Google Play, and Amazon platforms, today announced that it recently entered into a Securities Exchange and Amendment Agreement with Hillair Capital Investments L.P. ("Hillair Capital") to amend and refinance the terms of the $2,240,000 8% Original Issue Discount Senior Secured Convertible Debenture originally issued to Hillair Capital on June 19, 2015. For details relating to the terms and conditions of the refinancing, please refer to Tapinator's Supplemental Information Report with OTC Markets dated August 2nd, 2016 that is available at http://www.otcmarkets.com/stock/TAPM/filings.
Commenting on the transaction, Andrew Merkatz, President of Tapinator, stated, "We are delighted to extend our relationship with Hillair Capital. They've proven to be an invaluable and trusted partner, and we believe this refinancing reflects a reaffirmation of our exciting and unique business model, the significant growth prospects of the mobile gaming industry, and the strong revenue progression and operating results we have delivered over the past eleven quarters. We believe this transaction also provides Tapinator with rapid access to further capital to take advantage of strategic and accretive M&A and publishing related opportunities that we may identify in the coming years."
Tapinator, Inc. (Ticker: TAPM) designs, develops, and publishes mobile games for iOS and Android devices on the App Store, Google Play, and Amazon Appstore platforms. Tapinator's owned and operated portfolio includes over 200 mobile gaming titles that have achieved over 250 million cumulative player downloads -- primarily within the simulation, arcade, role-playing, casino, and sports genres. A number of these titles have risen to the top of the mobile leaderboard charts and have been featured by Apple, Google, and Amazon. Founded in 2013, Tapinator is headquartered in New York -- with product development teams located in Germany, Pakistan, Indonesia, Canada, and the United States. For more information about Tapinator, please visit http://www.tapinator.com.
Forward Looking Statements
To the extent that statements contained in this press release are not descriptions of historical facts regarding Tapinator, they are forward-looking statements reflecting the current beliefs and expectations of management made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Words such as "believe," "may," "will" "expect," "anticipate," "estimate," "intend," and similar expressions (as well as other words or expressions referencing future events, conditions or circumstances) are intended to identify forward-looking statements. Forward-looking statements in this release involve substantial risks and uncertainties that could cause the development and monetization of our mobile games, future results, performance or achievements to differ significantly from those expressed or implied by the forward-looking statements. Such risks and uncertainties include, among others, the uncertainties inherent in the hits nature of the mobile gaming business. Tapinator undertakes no obligation to update or revise any forward-looking statements. The quoting and trading of the company's common stock on the OTC Market Group's OTC Link quotation system is often thin and characterized by wide fluctuations in trading prices, due to many factors that may have little to do with the company's operations or business prospects. As a result, there may be volatility in the market price of the shares of the company's common stock for reasons unrelated to operating performance. Moreover, the OTC Market Group's OTC Link quotation system is not a stock exchange, and trading of securities on it is often more sporadic than trading of securities listed on the NASDAQ Stock market or another securities exchange. Accordingly, stockholders may have difficulty reselling any of their shares. For a further description of the risks and uncertainties that could cause actual results to differ from those expressed in these forward-looking statements, as well as risks relating to the business of the company, see Tapinator's Risk Factors which are available at http://www.tapinator.com/disclaimers.
This release does not constitute an offer to sell or the solicitation of an offer to buy any securities of the Company, nor shall there be any sale of any securities of the Company where such offer, solicitation or sale would be unlawful prior to the registration or qualification under applicable securities laws.
Tapinator Investor Relations
SOURCE Tapinator, Inc.