Recall Studios, Inc. (OTCQB: BTOP) is engaged as an entertainment technology company. Shares of the entertainment tech company soared 254.76%, during trading on Wednesday, January 24, 2018. Over the past month, Recall Studios, Inc. has seen average daily volume of 22,638 shares. However, volume of 893,132 shares or dollar volume of $1.33 million, had exchanged hands on the day.
Shares of Recall Studios, Inc. surged today, after the company announced it is preparing the launch three new virtual reality (VR) and augmented reality (AR) products. The company’s powerful range of software capabilities will allow anyone “to create their own immersive and interactive experiences without the need for specialized hardware.” This will be among the first VR and AR editing software applications geared towards everyday consumers. Recall Studios, Inc. has also entered into a letter of intent with Coatsink Software to jointly develop AR and VR games. Here is the full press release detailing of the launch preparations and the LOI:
BOCA RATON, FL., Jan. 24, 2018 (GLOBE NEWSWIRE) — Recall Studios, Inc. (OTCQB: BTOP) (the “Company”), is pleased to announce that it will soon be launching three products aimed at bringing VR and AR to a market clamoring for more development. Recall’s suite of software, developed in conjunction with its former subsidiary and strategic partner (collectively “Recall”), will give anyone, anywhere, the power to create their own immersive and interactive experiences without the need for specialized hardware.
Recall has developed VR editing software that is powerful enough for professional productions, but designed with the vision that anyone with a story to tell should have the right tools. This software harmonizes with Recall’s viewing platform which will enhance the way people are immersed in VR and give consumers the ability to produce fully interactive VR experiences. Recall will also be launching a game that uses Apple’s AR kit to bring families and friends closer together while providing endless entertainment for children. The products are in final testing and Recall expects to take them to market this quarter.
Beyond its three soon-to-be released products, together with its strategic partner and former subsidiary, Recall has entered into a letter of intent with Coatsink Software to jointly develop advancements in AR and VR gaming. Coatsink Software is a leading developer of gaming technologies across platforms, including the Nintendo Switch, PS4, PS Vita, PS VR, Gear VR, PC and particularly, Oculus Rift, owned by Facebook. Recall is excited to incorporate technologies from both companies for the next generation of VR/AR entertainment products.
These developments come at a time when longtime Company CEO, Alex Bafer, has decided to resign his positions with the Company for personal reasons. The Company’s Board was quick to appoint Chief Legal Officer Frank Esposito as Interim CEO to work with the Board in directing the Company and finding a permanent CEO. Mr. Bafer successfully helmed the Company and brought it to the point where it is now, on the precipice of entry into a fast growing market sector with significant strategic partners the Company believes will assist it in its goal of high growth.
On January 19, 2018, the Company became aware of promotional materials written by private firms on behalf of entities disclosed in the articles. It appears these firms, with which the Company has no contact, gleaned certain information from Recall’s recent provisional patent and trademark applications. Though the Company has no editorial control, the information contained in these promotions is accurate and the Company does not view the material as misleading. However, we are aware that is not always the case and the Company continues to monitor articles and promotional materials written about Recall. While the Company’s shares have been trading with increased volume and price, the Company has no way of knowing if this is the result of promotional activity or recent activities, such as provisional patent and trademark applications, licensing agreements or sales of underperforming assets. It is important to note that no control person is involved with the promotional materials and no control person has sold any Company shares, choosing instead to take a longer position based on the belief that the imminent release of its three products will be well received by the market.
To fund the development of its products and protection of its intellectual property, Recall engaged in several financing facilities which include conversion options at market discounts. Material instruments were previously disclosed in Recall’s filings.
About Recall Studios, Inc.: We are an entertainment technology company that is redefining media consumption. We are focused on creating disruptive software, proprietary technology and immersive content. Our most recent SEC filings and financial information can be found on the Securities and Exchange Commission’s website at www.sec.gov
Forward-Looking Statements: Except for historical matters contained herein, statements made in this press release are forward-looking statements. Without limiting the generality of the foregoing, words such as “may”, “will”, “to”, “plan”, “expect”, “believe”, “anticipate”, “intend”, “could”, “would”, “estimate”, or “continue”, or the negative other variations thereof or comparable terminology are intended to identify forward-looking statements. Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. These forward looking statements relate to, amongst other things, current expectation of the business environment in which the company operates, potential future performance, projections of future performance and the perceived opportunities in the market. Also, forward-looking statements represent our management’s beliefs and assumptions only as of the date hereof. Except as required by law, we assume no obligation to update these forward-looking statements publicly, or to update the reasons actual results could differ materially from those anticipated in these forward-looking statements, even if new information becomes available in the future. The Company is subject to the risks and uncertainties described in its filings with the SEC, including its Annual Report on Form 10-K, its Quarterly Reports on Form 10-Q, and Current Reports of Form 8-K.