SOURCE: Spiral Toys

Spiral Toys

May 15, 2015 13:49 ET

Spiral Toys CFO to Take Leave of Absence

LOS ANGELES, CA--(Marketwired - May 15, 2015) - Spiral Toys (OTCQB: STOY) has just announced that their CFO, Robert Stewart, will take a leave of absence to focus on a personal business matter unrelated to the company. The company will continue to conduct business as usual as directed by Spiral's CEO, Mark Meyers. 

"The company and Mr. Stewart agreed that it was best for him to focus on his legal matters so they did not become a distraction for Spiral Toys. We will keep up to date and as new information becomes available we can decide what is best for the company and our shareholders long term," said Mark Meyers. "Spiral's business is really starting to grow and we have to ensure we maintain our momentum. With one product launching last month and 3 additional product lines in development, we need to keep our entire organization focused on the job at hand."

About Spiral Toys
Spiral Toys (OTCQB: STOY) is a California-based company dedicated to developing, marketing, and selling products and mobile applications in the mobile-connected space. Spiral has developed several technology platforms that enable it to acquire and engage consumers in the sale and marketing of physical consumer products and toys.

Spiral collects revenue on both the physical purchase of goods and the sale of digital content through Apple's App Store and the Google Marketplace. Founded in 2011 by a former senior executive at Disney and Sony, the company has developed an integrated hardware/software/cloud solution that enables mobile-connected entertainment.

Spiral's mobile-connected entertainment platform connects physical items to today's top mobile devices through wireless technologies, creating a whole new type of interactive user experience. Spiral sells its products worldwide, and is developing additional applications based on its platform technology for several different verticals within the entertainment industry. The company also acts as co-developer with major entertainment studios.

Website: http://spiraltoys.com/

Forward-Looking Statements
This news release contains forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995 and Canadian securities laws, including statements relating to expectations for the performance of Spiral Toys. The terms "expects", "would", "will", "believes", and similar terms are intended to identify these forward-looking statements. Forward-looking statements are based on estimates and assumptions made by Spiral Toys in light of its experience and its perception of current conditions and expected future developments, as well as other factors that Spiral Toys believes are appropriate in the circumstances. Many factors could cause Spiral Toys' actual results, performance or achievements to differ materially from those expressed or implied by the forward-looking statements. These risk factors and others relating to Spiral Toys that may cause actual results to differ are set forth in Spiral Toys' periodic filings with the U.S. Securities and Exchange Commission (copies of which filings may be obtained at www.sec.gov). These factors should be considered carefully, and readers should not place undue reliance on Spiral Toys' forward-looking statements. Spiral Toys has no intention and undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.

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