It has taken SPYR Technologies just 5 months to arrive at where the company is today—entering the revenue-generating sales phase of its business plan. Five short months ago, SPYR moved into the technology sector as “SPYR Technologies,” it landed a $15-million funding commitment, and it acquired the “Internet of Things” (“IoT”) company, Applied MagiX, Inc., a registered Apple® developer that develops and resells Apple ecosystem compatible products with an emphasis on the growing multi-billion-dollar Smart Home market. Since that corporate makeover, SPYR has been extremely transparent, and with the help of Applied MagiX, has been hitting on all cylinders and checking off a list of promised milestones one after another.
The company’s most recent success has SPYR, through its wholly owned subsidiary, Applied MagiX, on the precipice of commencing sales of its initial shipment of an array of Apple® HomeKit® products that arrived well ahead of schedule. It’s the first of what should be a myriad of shipments of vetted products from the company’s trusted supplier, Onvis. It is these products that will begin to drive sales and generate revenue for the company.
Every publicly traded company and its shareholders delight in this moment. It’s the point where a company stops simply discussing its plans for the future, and instead, begins delivering on them. With products now available, SPYR is in the unique position of having developed a business plan, acted upon it, and is prepared to turn those October 2020 ideas into 2021 fundamentals.
SPYR’s Chief Executive Officer (CEO), James R. Thompson, said, “Let’s face it, the purpose of business is to make a profit. The more profit you make, the more value we create for shareholders, and we create a situation whereby we can take advantage of bigger and better opportunities to continue to grow.”
In SPYR’s efforts to do just that—generate revenue and make a profit—the company along with Applied MagiX offered more clarity this week on which products were in this first shipment and provided more detail about each one, including the (i) Onvis C3 HomeKit Secure Video Camera; (ii) Onvis SMS1 Smart Multipurpose Sensor; (iii) Onvis CS1 Smart Alarm Multipurpose Sensor; and (iv) Onvis CT2 Smart Contact Sensor. (https://www.nasdaq.com/press-release/spyr-technologies-applied-magix-receive-shipment-of-apple-homekit-products-ahead-of)
Applied MagiX will sell the 4 different “essential HomeKit products” on its website to Apple HomeKit consumers and those who are in the market to “smarten up” their homes. The website https://appliedmagix.com is being completely redesigned to include an online store, and Applied MagiX expects to launch the site soon.
Dr. Harald Zink, CEO of Applied MagiX, said of the company’s initial strategy to source products from its trusted partners like Onvis, “This strategy of reselling vetted products will allow us to begin to generate revenue and put us one step closer to profitability while we’re developing our own branded proprietary products for Apple HomeKit for release into the market.”
It’s an ideal strategy that includes selling the aforementioned products as well as other sourced Apple HomeKit products and accessories, Apple Watch® accessories, and even Apple CarPlay® products and accessories. The strategy buys the company time to continue to develop and produce its own signature line of Apple HomeKit products and accessories that will likely demand an even higher price tag and lead to even greater revenues.
With sales expected to start very soon, this is where the CEO of Applied MagiX should excel given his expertise and long-standing relationships in the Apple community with the development and marketing of the brand’s products and accessories. Applied MagiX will launch an advertising/marketing campaign to online destinations and via social media to reach out directly to HomeKit enthusiasts and consumers. As revenue begins to ramp up, SPYR can reinvest in the company and create new sources of revenue through additional Smart Home products, other technologies, and further acquisitions.
SPYR’s CEO said, “The importance of SPYR/Applied MagiX creating revenue-generating opportunities with the initial products that the company will order and sell is to get cash flow started as Applied MagiX builds out its sales infrastructure (online store and other distribution channels, fulfillment, etc.) and product mix to prepare for it to handle the demand we anticipate for our proprietary products that we plan to introduce later in the year.”
The primary driver of profitability is revenue. The more SPYR/Applied MagiX can grow revenue the more likely it is they will grow profits. If SPYR achieves higher levels of revenue and can manage costs so that they rise at a lower rate, then SPYR/Applied MagiX can maximize profits. As more shipments arrive and Applied MagiX is able to advertise and market the Apple HomeKit products, the company can accelerate the rate of revenue growth, and eventually generate more profits faster which will enable SPYR to (a) take more profits, (b) reinvest in the company, (c) create new sources of revenue, (d) merge or acquire another business, and (e) improve the value of the company for its investors.
This should be music to the shareholder’s ears, and to hear words like sales, revenue, profitability, earnings, and fundamentals, is an exciting place to be as a SPYR shareholder. With SPYR now in a position to begin to generate revenue, its revenue growth will have a powerful impact on the company, and it will act as the engine that allows SPYR to reinvest, acquire additional products, acquire other companies, as well as expand its operations, and attain even more growth and profit well into the future.
About SPYR Technologies
SPYR Technologies 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.
About Applied MagiX, Inc.
Applied MagiX is an Internet of Things (IoT) company headquartered in Manhattan Beach, California, with an office in Hong Kong. The company is a registered Apple® developer that develops and resells Apple ecosystem compatible products with an emphasis on the growing multi-billion-dollar Smart Home market.
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