Tapinator Releases Second Quarter Financial Report

NEW YORK, Aug. 7, 2014 /PRNewswire/ -- Tapinator, Inc. (OTC: TAPM) today announced the filing of its quarterly report for the period ended June 30, 2014 on OTC Markets, which may be found on the Internet by navigating to http://www.otcmarkets.com/stock/TAPM/filings.

Tapinator, Inc. recorded gross revenues of $226,320 and net income of $76,397. This compares to revenue of $95,984 in the first quarter, and net income of $26,631. These second quarter financial statements reflect an increase in gross revenue of 135.8% over the Company's first quarter, with a 186.8% increase in net income for the same period. The Company's financial statements filed on OTC Markets are unaudited.

To view Tapinator's portfolio, please navigate to the iOS, Google Play, or Amazon App Store and search for "Tapinator." Or, for a full listing of Tapinator games with links to each app store, please go to Tapinator.com.

About Tapinator:

Tapinator (OTC: TAPM) is a developer and publisher of mobile games on the iOS, Google Play, and Amazon platforms. The Company focuses on operating its own titles, publishing properties where it holds substantial ownership positions, and making strategic investments into promising mobile companies. Tapinator's owned and operated portfolio includes over 40 mobile gaming titles that, collectively, have over 26 million users. A number of these titles have risen to the top of the mobile leaderboard charts and have been featured by the Apple, Google, and Amazon App Stores.  Founded in 2013, Tapinator is headquartered in New York, with a major office located in Lahore, Pakistan. For a full listing of Tapinator game titles, please go to Tapinator.com. For further financial information on the Company, please go to OTCMarkets.com/stock/TAPM. For live updates, please like us on Facebook at facebook.com/Tapinator or follow us on Twitter at twitter.com/Tapinator.

Non-GAAP Financial Information:

Tapinator has elected to capitalize and amortize its capital expenditures on items including the purchase of property, plant, equipment, and intangible assets. Tapinator defines capital expenditures as the amount paid in the current period, which is a non-GAAP financial measure that is not calculated in accordance with the International Financial Reporting Standards (IFRS).  These capital expenditures are a measure of the amount the Company has invested in maintaining or growing the scope of its business.  Several of its peers have elected to use this treatment; other companies in the same industry may calculate capital expenditures differently or not at all, limiting its usefulness as a direct comparative measure. Amortization of intangible assets is done on a straight-line 18-month schedule.

Forward Looking Statements:

Statements in this press release that are not purely historical facts, including statements regarding Tapinator's beliefs, expectations, intentions or strategies for the future, may be "forward-looking statements" under the Private Securities Litigation Reform Act of 1996. Such statements consist of any statement other than a recitation of historical fact and can be identified by the use of forward-looking terminology such as "plan", "may", "expect", "anticipate", "intend", "estimate" or "continue" or the negative thereof or other variations thereof or comparable terminology. The reader is cautioned that all forward-looking statements are speculative, and there are certain risks and uncertainties that could cause actual events or results to differ from those referred to in such forward-looking statements. This disclosure highlights some of the important risks regarding our business.  Specifically, the reader should not place undue reliance on statements regarding our ability to develop future games that will rise to the top of leaderboard charts or make successful future strategic investments. Additionally, there are number of other risk factors relating to our business more fully explained identified by us in our filings with the OTC Markets, which are available through http://www.otcmarkets.com.

Contact:

Tapinator Investor Relations
[email protected]
+1-914-930-6232

SOURCE Tapinator, Inc.