LONDON, March 1, 2016 /PRNewswire/ --
- 6th round fund subscription of £1 Ordinary shares priced at £12.40 reaches halfway mark with £600k applied for
- 8 new apps due to launch over next 2 months
The Board of AppBox Media PLC (AppBox Media), the UK based developer of mobile applications and video games, provided the market today with an update on a series of key developments that progresses AppBox Media closer towards its vision of becoming one of world's leading game software and mobile applications developers.
Whilst AppBox Media only launched in July 2013, it has been revenue producing since July 2014 and has, to date, secured contracts worth £4 million. The 2015 audited accounts show sales up by over 800% on the previous year with an increase in assets of over 10x (currently c. £850K) compared to 2014.
The current subscription for £1 Ordinary A Shares, priced at £12.40, has seen strong interest from the ultra-high net worth, high net worth and sophisticated investor community. Over 50% (£600,000) of the subscription is already applied for and AppBox Media has recently secured a single investment from an American investment company of £1.24m.
All AppBox Media apps have proven to be revenue producing through advertising, subscriptions and white label production.
Most recently, the company has launched the CareBuddy app, which links patients and carers at the tap of a button, and will launch the PawPrints app in March this year which is aimed at the first phone market and allows parents to communicate with and track their children, again, at the tap of a button.
The AppBox Media development team has previously worked for companies such as Sega, Universal, Fujitsu, Yahoo, Spotify and Virgin. AppBox Media believes this talent is helping to propel the company's development and revenue drive.
Current AppBox Media apps available via the App Store include: Frenzy fox, Swing and smash cricket, Rage quit monkey, Rage quit laser maze, Upstream rush, Rocket bird dash, Can I cook it?, Blocks that bounce, Safe driving, Oscars adventures, Learn colours with Oscar, Radio lollipop and CareBuddy.
- Eight new apps are due to be launched in the next seven weeks, the majority of which will employ the AppBox Media R&D into emotional intelligence. The apps will include a food checker in pregnancy and a selfie app which chooses the best photo of you to share with friends.
- A third app in the Oscars adventures franchise will be released in the next few weeks, with a publishing venture agreed and the potential to net the company in excess of £240,000 in the next 12 months.
- The Iranian documentary maker, Houtan, is expected to have completed the filming of his documentary on the App industry featuring AppBox Media in April 2016.
- A further round of EIS 3 certificates has been issued to investors, allowing for up to £400,000 to be claimed back through the enterprise investment scheme.
Commenting on today's news, Polat Hassan, CEO, said:
'AppBox Media PLC continues to impress me with its ability to surpass its forecasted targets. As a company we have seen the portfolio of apps grow from one in the first financial year to six in the second financial year to 16 currently with a further eight to be released in the next two months. We fully expect to have increased our portfolio of apps to 50 apps within the next 12 months. Seeing revenue figures and assets increase is extremely encouraging. Our current subscription has already seen applications received totalling £600,000 and we continue to attract mainstream media interest.'
Notes to Editors:
About AppBox Media
AppBox Media Plc is a mobile application software development company. Its products are available across Apple iOS and Google Android, and are available for instant download across smartphone and tablet devices.
The founders, developers and project managers have a proven track-record at a number of worldwide organisations; including designing and building applications for organisations including Universal Pictures, Motorola, Toshiba, SEGA, and Fujitsu.
AppBox Media's footprint was established through the launch of 6 games, the Can I Cook It? app and the University App development competition under the AppBox Beta brand, through which two apps have been developed. The team are now working to diversify the portfolio in a mixture of areas such as marketing and advertising, social networking, medical and financial. Current areas of focus include emotional intelligence software for use in the security industry as well as advanced visual recognition software to enhance CCTV monitoring processes.
By year end (2016) the company will have more apps released than they predicted they would have by the end of 2017.
The company's current valuation stands at around £12 million.
AppBox Media is a qualified Enterprise Investment Scheme and to date has raised over £4 million.
For further details about AppBox Media and its apps visit: http://www.appboxmedia.com
Disclaimer: This announcement is for information purposes only and does not constitute or form part of an offer or invitation to acquire or dispose of any securities of AppBox Media PLC, or constitute a solicitation of any offer to purchase or subscribe for securities in any jurisdiction. All subscription dates are subject to change without notice.
AppBox Media PLC:
Polat Hassan, CEO
SOURCE AppBox Media PLC