"Given that we are actively seeking app concepts for development, Apptigo is approached regularly by people with root ideas and mature concepts, as seemingly everyone has them and is excited to share them with us," noted Casey Cordes, Chairman and CEO of Apptigo. "When this new sporting app concept was brought to us, we recognized immediately that it could be a big winner due to its unique real-world applications, mass audience appeal, and, of course, imaginative creative opportunities. We feel very fortunate to have succeeded in acquiring this concept and have great confidence that our creative dream team can succeed in developing it into a category-killing monster app."
Pursuant to the Intellectual Property Purchase Agreement, Apptigo acquired all rights and title to the concept from its developer, Alexandros Tsiantaridis, a Miami-based luxury brand sales executive. The terms of the agreement provide for Tsiantaridis to be granted a warrant to purchase up to 100,000 shares of the Company's common stock at an exercise price of $1.00 per share. In addition, Tsiantaridis will be entitled to receive a royalty equal to 10% of all net revenues generated by the app once it has been fully developed and released to market by Apptigo. Having relationships and influence with notable contacts in the action sports industry, Tsiantaridis has also agreed to contribute to the ongoing development and global marketing of the app.
"I am very pleased that Apptigo shares my enthusiasm for this sports-related app concept -- particularly given their professional backgrounds and measurable creative experience in bringing to market cutting-edge products, brands and services. I look forward to working in close collaboration with the entire Apptigo team to help them make this concept an enormous commercial success for all of us," said Tsiantardis.
About Apptigo International, Inc.
A creative agency and social/mobile app developer, Apptigo International was founded in 2012 by the forward-thinking, creative minds behind works such as: Ruthless & Toothless + Ruthless Collective; the web launch of Casa Casaurina, a.k.a. the Versace Mansion; and a host of other creative client experiences ranging from startups to Fortune 500 companies, such as Absolut Vodka, Carnival Cruise Lines, Minute Maid and Renault, among many others. The first commercial app in Apptigo's fast-growing portfolio of proprietary apps and app concepts is SCORE™, an interactive dating game that allows people to determine their compatibility through answering entertaining and engaging questions.
For more information about the Company, please visit www.apptigo.com.
Forward-Looking Statements
This news release may contain forward-looking statements. Forward-looking statements are indicated by words such as "expects," "intends," "anticipates," "believes," "forecasts," "plans" and similar expressions. These forward looking statements are based on our current expectations and actual results could differ materially. Our ability to achieve the results anticipated in such forward-looking statements is subject to risks and uncertainties, including, without limitation, our ability to successfully centralize and consolidate various support functions, operating results, market acceptance of our solutions, strong brand recognition and other risks detailed from time to time in our reports filed with the Securities and Exchange Commission. These forward-looking statements are made in accordance with the "safe harbor" provided by the Private Securities Litigation Reform Act of 1995 and no assurance can be given that the future results that are the subject of such forward-looking statements will be achieved. The Company undertakes no obligation to publicly update or revise the forward-looking statements, whether as a result of new information, future events, or otherwise.
For More Information: Go to www.apptigo.com and Click "Contact"
Contact Information : Apptigo Investor Relations / 407-585-1080
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