Don’t Overlook Smart Homes- a Market Expected to Reach $313.95 Billion by 2026(10)
With Its Applied MagiX Acquisition, Watch Out For SPYR, Inc. – a Potential Market Disruptor
United States OTC: (SPYR)
Do you live in a Smart Home? Can you control your lighting, heating, and electronic devices with nothing more than a smartphone?
It’s no secret that demand for smart homes and devices has gone from novelty to necessity.
Artificial Intelligence (AI) assistants like Siri and Alexa have exploded in popularity and have been accepted into millions of homes. Many consumers have come to not only accept the help of these devices but have come to rely upon them.
Can you even begin to imagine life today without social media, smartphones, or GPS systems? Hardly.
In fact, worldwide demand looks like it’s heading parabolic. In 2017, there only seem to have been roughly 140.92 million Smart Homes in the world.(1) By 2025 that number could almost quadruple to approximately 482.81 million.(1)
A study from Modor Intelligence states, “the smart homes market was valued at $79.13 billion in 2020, and it is expected to reach $313.95 billion by 2026 and register a CAGR of 25.3% over the forecast period (2021 – 2026).”(10)
If we’re focusing on revenue generated from Smart Homes, the picture becomes even more exciting. According to Statista’s Digital Market Outlook, the Smart Home market’s revenue could be roughly $175.749.01 million in 2025. Considering that this figure only appeared to be about $39,159.69 million in 2017 and about $72,279.91 in 2020, the growth potential could be astonishing.(3)
A company like SPYR, Inc. (OTC: SPYR) could be positioned perfectly to benefit from this type of potential. SPYR is a technology holding company that appears to be building a robust portfolio of tech innovators and disruptors.
You will definitely not want to miss out on reading more about this company, and especially its Applied MagiX Inc. subsidiary. Applied MagiX could place SPYR squarely at the heart of the potentially multi-billion dollar Smart Home ecosystem’s growth.
SPYR, Inc. (OTC: SPYR) Looks Like It May Be Heading Towards Another Potential Vertical Run
There’s something very interesting about SPYR when looking at the weekly chart (as of 7/20/21). (11) As you can see below, during the week beginning August 3, 2020, the stock hit a low of .0410 and ran up to .1919 during the week beginning August 10, 2020, for a potential move of 368.05%.
Then during the week beginning December 28, 2020, the stock hit a low of .0660 and ran up to .21 during the week of February 1, 2021, for a potential move of 218.18%.
If SPYR builds support over .06 again, could another big-time vertical charge be right around the corner like we saw around the beginning of the year?
Who is SPYR, Inc. (OTC: SPYR) and Why are They Special?
SPYR, Inc. (OTC: SPYR) is a technology company that, through its subsidiary, Applied MagiX Inc., develops and resells Apple ecosystem compatible products with an emphasis on the growing multi-billion-dollar smart home market. SPYR continues to identify and target acquisitions that will grow its footprint in the industry and expand the products it offers consumers, including companies developing artificial intelligence and smart-technology products.
The company, through its other subsidiary, SPYR APPS, LLC, is also involved in developing, publishing, and co-publishing mobile games and applications.
According to its 2020 year-end report, SPYR, Inc. accomplished the following:(6)
- Received its MFi Development License from Apple, marking a crucial step toward developing, designing, and releasing future Applied MagiX-branded products, while also allowing for the use of the familiar Apple badging on its products.
- Established a representative office in Hong Kong.
- Contracted with a local facilitator in Hong Kong.
- Kickstarted the development of initial premium and proprietary HomeKit products.
- Identified product categories to pursue and develop.
- Adding two new members to SPYR’s Board of Directors with highly relevant backgrounds and experience following the resignation of James Mylock, Jr., who served on the Board for more than 20 years.
- Began engaging in discussions with an overseas company regarding a chance for SPYR to market/sell/distribute its line of Artificial Intelligence (AI) and other products in the US.
According to James R. Thompson, SPYR’s CEO & President, “The SPYR team has worked hard and made personal sacrifices during 2020 to lay the foundation and establish an infrastructure for the Company’s new direction.
Applied MagiX Inc. and its Game Changing Potential
On October 20, 2020, SPYR acquired Applied Magix, Inc., a registered Apple developer, and reseller of Apple ecosystem compatible products, emphasizing the flourishing Smart Home market.(9)
Applied Magix operates in the “Internet of Things” (IoT) market, and more specifically, the segment of the market related to the development, manufacture, and sale of devices and accessories built explicitly on Apple’s HomeKit framework.
HomeKit is Apple’s framework for allowing smart home and Internet of Things devices to work with iOS devices such as the iPhone and iPad. It’s a platform designed to make it easy for smart-home device manufacturers to add iOS compatibility to their products.
Applied Magix’s products appear to work within the Apple HomeKit ecosystem and are exclusive to the Apple market and its consumers. Initially, while working to develop, manufacture and sell its own line of branded products, Applied Magix plans to source HomeKit products and accessories from worldwide manufacturers, vetting and selecting best-of-breed products, selling them directly, and supporting them.(7)
In addition to its HomeKit products, Applied Magix plans to offer various essential accessories that every smart home needs, such as Lightning cables, wall chargers, car chargers, and personal health products like a finger oximeter thermometer or smart scale.(7)
And yes- even more exciting, Applied Magix claims to have a “secret lab” chock full of future, exclusive, and premium products that could be potentially disruptive to the industry.(7)
Introducing SPYR, Inc.’s (OTC: SPYR) Robust Management Team
A company’s management team’s quality is arguably just as crucial as its fundamentals or business model. Coupled with SPYR’s macro-level growth potential and company specific enthralling business model, the management team leading SPYR could not be any more exciting.
James R. Thompson, ESQ
CEO, President, General Counsel
Over the past 28 years, Jim has deftly managed a colorful spectrum of legal clients and situations. In the process, he has helped many companies—both large and small—thrive. A master communicator with a history of long, valued client relationships, Jim approached each case with equal parts entrepreneurial spirit and business acumen, investing himself as if the venture in question was his own. And, this passion and proficiency didn’t go unnoticed.
One of his long-term clients, Joseph Fiore of Eat at Joe’s, Ltd., saw the opportunity to transform his business and immediately thought only of Jim for a leadership role. Now, as CEO, President, and General Counsel of SPYR, Inc., Jim welcomed the challenge to take the company—and his career—in an entirely new direction. And, true to character, he got right down to business. Soon after joining the company, Jim was instrumental in the acquisition of Franklin Networks, Inc., a digital publishing company with eight online brands. This decision sparked a dramatic shift in the company’s core focus and offerings, resulting in the rebirth of the Company as SPYR, Inc., a digital media holding company. Jim expects this to be the first of many great things on the horizon.
A native of Philadelphia, PA, Jim holds a JD from Rutgers University and a BSBA from the University of Denver.
Jennifer Duettra, ESQ
EVP, Secretary, Assistant General Counsel
Jennifer and Jim share a long and successful working history. When given the opportunity to join the SPYR team with him, Jennifer couldn’t say no. Jennifer brings to the table not only a law degree from Harvard and 10 years of sophisticated legal experience but also a great deal of knowledge in mobile gaming and pop culture; a combination you don’t run into every day. She was thrilled by the prospect of combining her law experience with a chance to be creative.
As Executive Vice President, Secretary, and Assistant General Counsel of SPYR, Jennifer has wide-ranging responsibilities. From drafting and reviewing contracts and press releases, evaluate business opportunities, and brainstorm new ideas for the websites and games. In short, Jennifer does it all and does it well. She has high expectations about the future of SPYR and believes there is an excellent opening in content expansion, mobile gaming, and CATS!
Jennifer was born and raised in Colorado, receiving her Bachelor of Arts in Political Science and Speech Communication from Colorado State University. She ventured out of Colorado for law school, earning her Juris Doctor at Harvard.
Barry brings 23+ years of accounting, auditing, and tax experience to the SPYR management team. Since 1993, Barry, a certified public accountant, has worked for clients in various industries such as restaurant/hospitality, pharmaceutical, wholesale, and precious metals/minerals. Barry also has substantial experience with mergers and acquisitions. He’s seen it all. But more importantly, he is intimately familiar with the inner workings of SPYR. After years of providing high-quality service to the company as its outside auditor and then outside accountant, Barry jumped at the opportunity to become SPYR’s CFO.
As CFO, Barry oversees three main areas: controllership, treasury, and economic strategy/forecasting. His thumb is firmly on the pulse of SPYR’s past and present financial outlook, financial condition, and capital structure. He is also responsible for identifying areas for SPYR to capitalize on while also evaluating potential business opportunities, which is no small task. His strong work ethic and passion for technology drive his day-to-day work as he helps SPYR expand into the future.
Barry was born and raised in Salt Lake City, Utah, where he continues to live, work and raise his family. He received his Bachelors in Accounting and a Masters of Professional Accountancy from the University of Utah. He is a member of both the American Institute of Certified Public Accountants and the Utah Association of Certified Public Accountants.
Source 2: https://www.globenewswire.com/news-release/2020/07/23/2066856/0/en/Smart-Home-Market-to-Gain-Massive-CAGR-of-17-4-By-2027-and-Competitors-New-Strategy-s-Innovations-and-Technique-s-To-sustain-In-Market.html
Source 3: https://www.statista.com/outlook/dmo/smart-home/worldwide
Source 4: https://finance.yahoo.com/quote/SPYR/key-statistics?p=SPYR
Source 5: https://www.barchart.com/stocks/quotes/SPYR/opinion
Source 6: https://ir.spyr.com/press-releases/detail/221/spyr-technologies-announces-year-end-2020-results
Source 7: https://appliedmagix.com/#!/products
Source 8: https://appliedmagix.com/#!/homekit
Source 9: https://spyr.com/
Source 10: https://www.mordorintelligence.com/industry-reports/global-smart-homes-market-industry
Source 11: https://www.investing.com/equities/eat-at-joes-ltd
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