GUANGZHOU, China, Jan. 14, 2011 (GLOBE NEWSWIRE) -- Amico Games Corp. (OTCBB:AMCG), an interactive entertainment media Company specializing in developing some of China's most popular massively multi-player online role-playing games (MMORPGs) for mobile phones, today announced that its registered users grew to 30,123,810 in November 2010, an increase of 317,147 over the previous month.
The Company's most recently released and second Java game, "Journey to the West: deja vu," recorded 269,621 new registered users during November 2010. Since its mid September release, "deja vu" has attracted 485,577 new registered users and has 234,147 active players.
Amico also announced the results for the 2011 first quarter ended November 30, 2010. The revenue for the three month ended November 30, 2010 were $463,250, compared with $467,526 for the same period last year. Net income was $(7,793) for the first quarter ended November 30, 2010, compared with net income of $27,222 for the same period in 2009. Commenting on the 2011 first quarter results, CEO Peter Liu stated, "Our operating expenses for the three month ended November 30, 2010 were $151,146 more than the same period last year. This was the result of increases in payroll and office expenses related to the November move to our expanded facilities, and was in line with expectations. With $350,934 in cash on hand, a surplus in working capital of $520,010 and our cash flow, we continue to have sufficient capital to execute our corporate development strategies."
About Amico Games Corp.
Amico Games is a subscriber-based interactive entertainment company with over 30 million registered users. The company develops massively multiplayer role playing online games (MMRPOG) based on Java™ technology for 3G telecommunication networks in China. The company created some of China's earliest mobile phone multiplayer games, was the first Chinese company to cooperate with Nokia and was the first company to provide multiplayer games over the WAP platform of China Mobile. Further information on the Company can be found at and the company's websites at .
Safe Harbor Statement
Except for historical information contained herein, the matters set forth above may be forward-looking statements that involve certain risks and uncertainties that could cause actual results to differ from those in the forward-looking statements. Words such as "anticipate," "believe," "estimate," "expect," "intend" and similar expressions, as they relate to Amico or its management, identify forward-looking statements. Such forward-looking statements are based on the current beliefs of management, as well as assumptions made by and information currently available to management. Actual results could differ materially from those contemplated by the forward-looking statements as a result of certain factors such as the level of business and consumer spending, the amount of sales of Amico's products, the competitive environment within the industry, the ability of Amico to continue to expand its operations, the level of costs incurred in connection with Amico's expansion efforts, economic conditions in the industry and the financial strength of Amico's customers and suppliers. Amico does not undertake any obligation to update such forward-looking statements. Investors are also directed to consider all other risks and uncertainties.
CONTACT: Amico Games Corp. Investor Relations (310) 301-0082 IR@amicogamesus.com
