SPYR Technologies (OTC Pink: SPYR) and its wholly owned subsidiary, Applied MagiX, spent this week introducing the public to the product categories and products that Applied MagiX will both develop and source to drive revenue for the companies. The plan will kick off by offering products that fall into 2 categories, “essential home accessories” and “essential HomeKit products,” which Applied MagiX will source from trusted partners and vendors, along with some accessories as well, according to the company.
Initially, both SPYR and Applied MagiX appear to be focused, and rightly so, on generating revenue, establishing distribution channels, and testing the shopping experience at Applied MagiX’s online store that is currently under construction at https://appliedmagix.com.
After carefully doing its due diligence on the technology sector and any potential acquisitions that could give SPYR a competitive edge, the company chose to embrace the Internet of Things (IoT) industry and the Smart Home market, and then SPYR promptly acquired Applied MagiX. What SPYR got is an IoT company and registered Apple® developer that develops and resells Apple® ecosystem compatible products with an emphasis on the growing multi-billion-dollar Smart Home market. It has proven, thus far, to be a wise choice as the company’s CEO and founder, Dr. Harald Zink, has demonstrated a methodical approach to just how Applied MagiX will grow its footprint in the Apple HomeKit® Smart Home market and deliver revenue for SPYR.
Generating revenue and growing the company’s available capital will set the “new and improved” SPYR apart from its days in the uber-competitive gaming industry and offer a verification, of sorts, that SPYR’s leadership has done its homework and is advancing the company in exactly the right direction.
In this week’s announcement, SPYR and Applied MagiX didn’t limit the introduction of upcoming products to any set number of offerings; however, they did announce an initial list of some of the sourced “essential HomeKit products” that Applied MagiX will offer customers who are looking for Smart Home options, including a HomeKit secure video camera, and HomeKit contact, security and environment sensors that offer a range of functions to smarten up a customer’s home. Smart sensors are used with Apple’s HomeKit platform to detect changes in and around your home, such as changes in motion, temperature, humidity, the opening and closing of doors and windows, and then those changes prompt other connected devices to react, like lights, locks and thermostats.
Also, the companies announced an initial list of “essential home accessories,” which was comprised of several items from the Truly Convenient™ sub-brand that Applied MagiX will use to identify many of its planned Apple ecosystem accessories. Those essential home accessories include Truly Convenient USB wall-chargers, Truly Convenient lightning charger & data cables, Truly Convenient Apple Watch® charging cables, and, additionally, the company will offer Apple Watch accessories and watch bands.
After its initial release of the aforementioned sourced products, Applied MagiX will begin its second phase by introducing a host of proprietary products under its own brand. The company says that the availability of these products will be based on research and development efforts and manufacturing timelines.
Further, Applied MagiX also plans to release a number of companion apps and functional enhancement apps on MacOS and iOS systems. These apps will be proprietary software products to support products that Applied MagiX will be shipping, some apps will support and improve third-party hardware, and some will improve functionality of MacOS systems.
When discussing the second phase of the company’s product rollout, Dr. Harald Zink, CEO of Applied MagiX, said, “What I can say about our proprietary product line is that those products will be, almost exclusively, HomeKit-geared products. Our product line will be composed of items that we know are in demand, as well as those that provide conveniences.
“The Apple HomeKit consumer market offers great opportunities, not only because it is a market that appreciates premium products, but also because this market segment is still underserved. We see several items lacking in that market, which we hope to be able to serve.
“This leads to our product goals—developing Applied MagiX-branded products that don’t just fit the HomeKit space, but that provide a unique edge through unique features. While we are not interested in competing in the low-price space, we expect to offer some products that aim to provide a premium experience at a competitive price. Thus, instead of competing on lowest prices, we’d rather provide additional features, abilities or performance with our products.”
With SPYR and Applied MagiX continuing to methodically introduce the public to the company’s plans, including applying for a trademark for its sub-brand, releasing product categories and announcing planned products, etc., shareholders should expect to see the company advance its story with the availability of products and shopping opportunities on the Applied MagiX website. It is this announcement that will truly facilitate SPYR’s complete transformation into a true competitor in the Internet of Things industry.
Read SPYR Technologies’ press releases which outline its productive Q4 2020, its acquisition of Applied MagiX, the plan to move the company forward in 2021 and beyond, planned products, and funding commitments the company has secured at https://www.nasdaq.com/market-activity/stocks/spyr/press-releases