Gediminas Jasionis

Amico Games Corp. (OTCBB: AMCG) Update Fails to Impress Traders

by Gediminas Jasionis February 16, 2010
Amico logoAmico Games Corp. (OTCBB: AMCG) announced the company's promoted mobile phone games are becoming more popular every day with an additional 992 thousand new users recorded, since the beginning of 2010.

The company was happy to see the growing number of users, but the market discounted this update as pretty much meaningless as their share price went down afterwards.

The market reaction has merit, as new users registrating for the games doesn't mean they will be paying for the games. On the other hand building up a community always has its value especially if the company will be releasing new games to get into currently unexplored gaming market niches.

Currently Amico is a post merger entity with some financials on preview in their 8-k but still lacking the full scale report. Apparently they hold a solid customer base exceeding 20 million and still growing which shows their games are already widely recognized in the market.

Their first official quarterly report is due Feb 28, 2010. With its release we will hopefully see the full potential this company bears. Bearing in mind the Chinese consumers' spending is increasing as their craving for social gaming, the company might become Chinese's Zynga one day.

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