Mysquar Regulatory News (MYSQ)

MySQUAR Limited ("MySQUAR" or the "Company")

MySQUAR announces the rapid user growth and monetisation of its new game

MySQUAR, the Myanmar-language social media, entertainment and payments platform whose principal activity is to design, develop and commercialise Myanmar-focused internet-based mobile applications, is delighted to announce that its latest game launched on 2 August 2016, MyFish, has attracted in excess of 500,000 registered users in its first three weeks and is already generating revenue of US$ 600 - 800 per day, at a gross profit margin of approximately 44%. The company anticipates that MyFish - just one of many games planned - should achieve revenues of US$1,500 - 2,000 per day within two months of launch.

Based on current and historical growth, the Company confidently expects to have 5 million registered users across MySQUAR's different applications by the end of 2016.

Games benefit a great deal from the user base of MyCHAT, the chat and social networking application of MYSQUAR. They are displayed and advertised on MyCHAT, and are programmed to allow MyCHAT users to log in using their MyCHAT accounts. The games therefore can quickly grow their user base at a minimal marketing cost.

MyFish, which works on both Android and IOS devices, simulates fish hunting in a highly imaginative format involving 50 different types of fish. The game is run on the 'freemium' model, which allows free play up to a certain level, after which players have to pay for purchasing in-game assets such as virtual coins, gold and weaponry that enhance their fish hunting capability. MySQUAR's partners (telcos and cash top-up partners) collect the money paid by gamers and pay it to MYSQUAR. 

A new game, Invincible Sword, is to be launched in September 2016 and the Company intends to continue to release new games at a rate of approximately one game every two months.

Eric Schaer, CEO of MySQUAR, said: "We are very pleased that our strategy with mobile gaming has been proven correct and is now providing strong revenue. We are confident that as we release more games we will continue to grow the revenue from this line of business. Leveraging this revenue stream through our agreement with MyPAY will increase our profit margins. There is strong demand for accessible entertainment. Our experience so far indicates that our programme of game roll-outs will become very valuable to the company."

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