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| Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
|---|---|---|---|---|---|
| Mysquar | LSE:MYSQ | London | Ordinary Share | VGG6361G1072 | ORD NPV (DI) |
| Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.00 | 0.00% | 0.29 | 0.00 | 01:00:00 |
| Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
|---|---|---|---|---|---|
| 0 | 0 | N/A | 0 |
From Apr 2019 to Apr 2024
TIDMMYSQ
RNS Number : 5607E
MySQUAR Limited
09 May 2017
9 May 2017
MySQUAR Limited ("MySQUAR" or the "Company")
Significant Revenue Milestone and Product Update
MySQUAR, the Myanmar-language social media, entertainment and payments platform whose principal activity is to design, develop and commercialise Myanmar-focused internet-based mobile applications, is pleased to announce that it has achieved a milestone in average daily revenue and an update on product launches.
Daily Revenue
The Company has made significant progress in achieving its monestisation targets. Average daily revenue reached USD 5,000 during the first week of May 2017, an increase from an average of approximately USD 3,900 in April 2017. The majority of current daily revenue is generated from gaming and mobile payment application development services. The increase in revenue has been achieved due to both the integration with Telenor Myanmar's carrier billing services and recent product releases (such as the casual gaming platform Lucky Wingabar). Revenue generated from premium content in MyChat and other apps is not yet material to the business, but is expected to underpin future growth.
Product Update
On 5 May the Company released an updated version of its VoIP service, CallHome, which has been expanded to target a larger regional base, including India and Pakistan, for example. By the end of May, the Company expects to release a new hard core game called My Hero - Bo Lattae (as a substitute for WuKong which has been delayed due to unexpected software localisation issues with the game licensor) and an updated version of MyChat that includes a dating feature where users have to pay to chat.
Eric Schaer, CEO of MySQUAR, said: "We are pleased with the daily revenue growth demonstrated in May so far and anticipate healthy future revenue growth given the multiple revenue streams from existing products as they gain in popularity over time in conjunction with the release of new products and new product features in the pipeline."
For further information:
Hot Features
Premium
MySQUAR Limited
Eric Schaer (Chief Executive) Tel: +65 6818
6089
Pham Dang Hung (CFO)
SP Angel Corporate Finance
LLP
Nominated Adviser Tel: +44 (0) 203
470 0470
Stuart Gledhill/Soltan
Tagiev
Beaufort Securities Limited Tel: +44 (0) 207
Broker 382 8300
Jon Belliss/Elliot Hance
Public Relations
Damien McCrystal Tel: +44 (0) 781
677 0758
damien@mccrystal.info
This information is provided by RNS
The company news service from the London Stock Exchange
END
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(END) Dow Jones Newswires
May 09, 2017 02:00 ET (06:00 GMT)
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