SOURCE: Amico Games Corp.

May 18, 2010 16:00 ET

Amico Games Corp. Reports a 70% Increase in Revenue in Its Second Quarter

GUANGZHOU, CHINA--(Marketwire - May 18, 2010) - Amico Games Corp. (OTCBB: AMCG), an information technology company specializing in developing and operating mobile phone multiplayer networked games, today announced its results for the second quarter and six months ended February 28, 2010.

February 28, 2010 Key Financial Highlights

  • Revenues for the six months ended February 28, 2010 were $925,602, up 70% from same period in 2009.

Mobile Phone Games under Operation

The Company is currently operating three self-developed mobile phone games through various mobile value-added service providers:

    Miracle Journey to the West   Fantasy Wulin   Journey to the West Online
Development Platform   WAP   WAP   Java™
Mobile Network   2.5G   2.5G   2.5G
Open Beta Test Date   May 2006   October 2008   May 2009
Registered Users as of March 31, 2010   17,752,054   3,623,618   2,501,234

"We are glad to achieve a substantial increase in our sales revenue for the six month period ended February 28, 2010. These results are especially encouraging as we are able to fund our businesses from our revenue, and not rely on outside funding," said Mr. Peter Liu, the President & CEO of AMCG. "In the second quarter in 2010 fiscal year, our increased sales revenue can be mainly attributed to our K-Java mobile phone game: Journey to the West Online. We believe that in 2010, China's mobile phone game industry is welcoming a booming development period with the popularity of 3G mobile phones. We are actively developing our games and technologies to suit the new development trend in China. I do believe that we will have an even better performance in our next quarter."

About Amico Games Corp.

Amico Games Corp. is a software company specializing in developing mobile phone games for the Chinese market. On December 31, 2009, Amico acquired Galaxy Software Limited, a Chinese private-owned company incorporated in November, 2001. Galaxy is one of the earliest mobile phone multiplayer game developers in China, as well as one of the first Chinese company to develop and operate Java™ MMRPOG (massive multiplayer role playing online games) mobile phone games. It is also the first company to provide multiplayer games over the WAP platform of China Mobile, the world's largest mobile phone provider based upon subscribers.

Further information on the Company can be found at www.sec.gov and the company's website at www.amicogames.com

Safe Harbor Statement

Except for historical information contained herein, the matters set forth above may be forward-looking statements that involve certain risks and uncertainties that could cause actual results to differ from those in the forward-looking statements. Words such as "anticipate," "believe," "estimate," "expect," "intend" and similar expressions, as they relate to Amico or its management, identify forward-looking statements. Such forward-looking statements are based on the current beliefs of management, as well as assumptions made by and information currently available to management. Actual results could differ materially from those contemplated by the forward-looking statements as a result of certain factors such as the level of business and consumer spending, the amount of sales of Amico's products, the competitive environment within the industry, the ability of Amico to continue to expand its operations, the level of costs incurred in connection with Amico's expansion efforts, economic conditions in the industry and the financial strength of Amico's customers and suppliers. Amico does not undertake any obligation to update such forward-looking statements. Investors are also directed to consider all other risks and uncertainties.

Contact Information

  • Contact
    Investor Relations Office
    Tel: 1-877-331-8777
    Email: info@amicogames.com

    201 Spear Street, Suite 1100
    San Francisco, CA 94105
    USA