Pocket Games, Inc. (OTC Pink: PKGM) primarily operates as video game and app developer for mobile devices and desktop computers. The company is currently branching into new industries to jumpstart revenue. Shares of the technology company soared 50% during trading on Tuesday, February 6, 2018. Over the past month, Pocket Games, Inc. has seen average daily volume of 184.05 million shares on the day. Overall, the stock saw volume of 215.78 million shares or dollar volume of $64,734, exchanged hands during today’s trading.
Shares of Pocket Games, Inc. are surging today, after the company announced that it has entered the cryptocurrency mining industry after signing its first deal with CryptoBits LLC. Management of the two companies met at the Bitcoin Miami Conference in January to discuss potential synergies and discuss technologies. Pocket Games, Inc. has “allocated funds” into the deal with CryptoBits LLC, which management says will help expand their crypto mining operations throughout 2018. The company also announced that it filed paperwork to decrease the authorized share count by 50%. Here is the full press release detailing of the crypto mining contract and share reduction:
New York, N.Y. – (Newswire) – February 5, 2018 – Pocket Games, Inc. (OTC: PKGM), announces today that, through its newly formed subsidiary PocketChain LLC, it has signed its 1st contract with ‘CryptoBits LLC’.
While at the BitCoin Miami Conference in January (https://btcmiami.com/) Pocket Games met with CyptoBits staff. CEO David Lovatt was impressed with their ability not only to manage their specific ‘crypto-coin’ mining based on trends in the market, but also what he called their ‘mining to power output ratio’, which far outweighed other companies operating in the same space.
CEO, David Lovatt, commented that “These guys have been operating under the radar for some time to test their equipment and their operating methods. The reports I saw on their output were impressive. That is why I am excited to inform shareholders that we have allocated funds, and if all goes as planned, we see ourselves becoming a significant player in this space with much larger investments into mining operations at PocketChain throughout 2018.’”
He continued “Since announcing we have setup PocketChain LLC to drive our cryptocurrency aspirations forward, I received questions from several shareholders asking about the reverse split that was filed by the company in 2016, and subsequently cancelled by the Board, as well as asking me about the possibility of a reduction in the authorized share capital. At this time, we see no reason to file for a reverse split. Moreover, we are pleased to be able to announce that we have today filed with the State to reduce the authorized share capital by 50%. We believe this reduction, not only shows our commitment to our shareholders, but also a willingness to listen. We are moving forward in this Cryptocurrency venture and will have our ears to the ground with our shareholders.”
The Company reminds shareholders that the only source of public information on its activities is either OTCmarkets.com or its own website (www.pocketgamesinc.com).
Shareholders are also asked to find Pocket Games on Twitter TM (https://twitter.com/PocketGamesInc)
About Pocket Games, Inc.
Pocket Games, Inc. is an alternative reporting company on the OTC:US market, trading under the symbol PKGM. With a history of developing games and apps for mobile and PC’s, Pocket Games is currently branching out into alternate revenue streams.
This press release may contain forward-looking statements, including information about management’s view of Pocket Games, Inc.’s future expectations, plans and prospects. In particular, when used in the preceding discussion, the words “believes,” “expects,” “intends,” “plans,” “anticipates,” or “may,” and similar conditional expressions are intended to identify forward-looking statements. Any statements made in this news release other than those of historical fact, about an action, event or development, are forward-looking statements. These statements involve known and unknown risks, uncertainties and other factors, which may cause the results of Pocket Games, its subsidiaries and concepts to be materially different than those expressed or implied in such statements. Unknown or unpredictable factors also could have material adverse effects on Pocket Games’ future results. The forward-looking statements included in this press release are made only as of the date hereof. Pocket Games cannot guarantee future results, levels of activity, performance or achievements. Accordingly, you should not place undue reliance on these forward-looking statements. Finally, Pocket Games undertakes no obligation to update these statements after the date of this release, except as required by law, and also takes no obligation to update or correct information prepared by third parties that are not paid for by Pocket Games.