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We are a mobile and online game development company based in Hong Kong. (Incorporated in the Cayman Islands)
Mobile gaming has been our calling since our inception in 2021. Our mission is to push the boundaries of interactive gaming entertainment by consistently delivering a groundbreaking and immersive gaming experience. We strive to be at the forefront of innovations, creating and developing games that captivate, inspire and connect gameplayers across the globe. We are dedicated to leveraging cutting-edge technologies, cultivating a culture of creativity and fostering a dynamic and inclusive environment.
Headquartered in Hong Kong, we are engaged in the development of mobile and online games, including game design, programming and graphics and distribute our own mobile and online games on various platforms. We leverage on (i) the talents with innovative, creative and technical capabilities of the Hong Kong gaming industry community and (ii) the multicultural environment and diversified interests of mobile and online game players in Hong Kong, and strive to produce and market a wider range of attractive, immersive and interesting mobile and online game genres to global gameplayers. We are evolving from our beginnings as a licensee of games owned by third parties to a developer and owner of our own games, and we soon will expand our business to include our own proprietary mobile and online platform.
Our core product offerings are:
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Own Games Development. We develop, own, market and distribute our own new mobile and online games, which we distribute to various regions via various third-party gaming platforms for gameplayers to download and play. Our games are as follows: (i) Abyss; (ii) M2; (iii) Mythicland, (iv) Solitaire; (v) Mascot Whoops; and (vi) Dynasty Pantheon (formerly known as Three Kingdoms Warring). Since the commercialization of the Company’s self-developed games, notably Abyss as well as others, revenues from self-developed games have grown, as a percentage of total revenues, from 13.6 percent for the year ended June 30, 2022. to 35.8 percent for the six months ended December 31, 2023.
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Licensing of Third Party Games. We license the rights to mobile and online games from other game developers for the purposes of localization, marketing and publishing. The licensed games are as follows: Pride, Iteno, Happy Town, Mochi Crush, Cat Island and Slip Puzzle. We also licensed the game Barcode Footballer, the license for which was mutually terminated on May 23, 2024. During the past two fiscal years and most recent interim period, the Company generated a majority of its revenue from Barcode Footballer, which was predominately due to our limited operating history. Since the commercialization of Abyss and other self-developed games, our reliance on the revenue generated from Barcode Footballer has decreased from 97.0 percent for the year ended June 30, 2022, to 60.0 percent for the year ended June 30, 2023 and further decreased to 57.9 percent for the six months ended December 31, 2023. The termination of Barcode Footballer also reflected a broader strategic shift by the management team with respect to our business strategy, such as focusing on developing our self-developed games rather than maintaining and relying on licensed games from third-party developers. In addition, the management team also anticipated that the commercial terms may be less favorable as compared to the existing licensing agreement in the event that the licensing agreement was renewed for a further term; and
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Software game development services. We provide our customers with mobile and online gaming-related software game development services.
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In addition, we are developing a multi-functional mobile and online gaming platform on which our games as well as games from other gaming companies can be published online and on mobile devices. The platform will also comprise social media chatting, live streaming, advertising and e-commerce functions to enhance its attractiveness and “stickiness” to users. We anticipate releasing the platform in the first half of 2025 (calendar year).
As of Dec. 31, 2023, the Company has 63 experienced employees working as producers, game designers, artists, game engine developers and marketing staff, and we are one of the few game development companies in Hong Kong that has a direct labor force of over 50 employees with game development skills.
Note: Net income and revenue are for the 12 months that ended Dec. 31, 2023.
(Note: Pyro AI Inc. filed an F-1/A dated Aug. 16, 2024. Background: Pyro AI Inc. filed its F-1 on July 24, 2024, and disclosed the terms for its IPO: 2.25 million shares at a price range of $4.00 to $5.00 to raise $10.125 million. Pyro AI submitted its confidential IPO documents to the SEC in a filing dated Jan. 17, 2024.)
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