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Conspiracy Entertainment CEO Issues Letter to Shareholders
Mar 31, 2008 (08:03 AM EDT)
LOS ANGELES, March 31 /PRNewswire-FirstCall/ -- Conspiracy Entertainment , a developer, publisher and marketer of interactive entertainment software in North America and Western Europe, announced today that President and CEO Sirus Ahmadi issued a letter to shareholders:
I am pleased to provide you today with an update on the progress of your Company.
Over the past six months, we have gained manufacturing approval on a number of our licensed, popular gaming titles, as well as secured new distributorships to release high-anticipated games for the Wii, Nintendo DS, Sony PlayStation2(R), and other Wi-Fi handheld platforms. Our key developments include:
-- Released Biathlon 2008 for the PlayStation(R) 2 system in March 2008. Recommended by biathlon stars Magdalena Neuner, Kati Wilhelm and Michael Greis, Biathlon 2008 is marketed as the most exciting video game adaptation of this immensely popular international World Cup/World Championship game that combines accuracy and athletics. -- Published a highly anticipated Wii gaming title based on the lovable Cocoto character franchise created by Neko Entertainment. Through our distribution agreement with SVG Distribution, Inc., Cocoto Magic Circus for the Nintendo Wii hit U.S. retail stores at the end of February 2008. -- Shipped Best of Tests DS(TM) for the Nintendo DS to North American retail outlets. A quirky and entertaining twist on the famous Intelligence Quotient (IQ) Test, Best of Tests exercises the brain while it entertains for hours. -- With U.S. publishing rights to Wii: Octomania, we selected Atlus U.S.A., Inc., a leading publisher of interactive entertainment, to exclusively distribute the multi-player puzzler game Octomania to North American retailers. Atlus U.S.A. began distribution in March 2008. -- Launched Nintendo Wii: Winter Sports game in December 2007, which quickly lead to large reorders and continues to boost sales through the first quarter of 2008. -- Launched the first, turn-based WWII strategy game for the Nintendo DS(TM), Panzer Tactics. The game hit retail shelves throughout the U.S., Canada and Mexico in November 2007. Conspiracy gained the licensing rights to distribute Panzer Tactics from 10TACLE STUDIOS AG, (WKN: TACL10, ISIN DE000TACL107), one of Europe's leading independent developers and producers of high-end computer and video games.
We anticipate to report over $5 million in revenues (unaudited) for the three months ended December 31, 2007. This represents a year-over-year increase in sales of 2824% compared to $171,000 reported in the fourth quarter of 2006. Fourth quarter 2007 revenues grew 194% compared to $1.7 million reported in the third quarter of 2007. For the year ended December 31, 2007, we expect to report over $7.5 million in revenues (unaudited), compared to $803,493 (audited) for the year ended December 31, 2006.
We have closed 2007 with great optimism and believe 2008 will be one of our strongest years of revenue growth in our decade-long history. We have 10 to 20 additional games on all major platforms scheduled for release this year, and are well positioned to build shareholder value in 2008 and beyond.
You may visit http://www.conspiracygames.com http://www.otcfn.com/cpye or for future updates. As always, thank you for your continued interest and support in Conspiracy Entertainment.
Sincerely, Sirus Ahmadi President and CEO, Conspiracy Entertainment
About Conspiracy Entertainment Corporation
Conspiracy Entertainment Corporation is a developer, publisher and marketer of entertainment software in North America and Western Europe. The Company develops and licenses properties from several sources, including global entertainment and media companies and publishes software for DVD media, wireless devices, personal computers and video game consoles, including those manufactured by Nintendo, Sony Computer Entertainment, Inc., and Microsoft Corporation. Conspiracy Entertainment was founded in 1997 and is based in Santa Monica, CA.
"PlayStation" and the "PS" Family logo are registered trademarks of Sony Computer Entertainment Inc.
Safe Harbor Statement: The Private Securities Litigation Reform Act of 1995 provides a "Safe harbor" for forward-looking statements. Certain of the statements contained herein, which are not historical facts, are forward- looking statements with respect to events, the occurrence of which involved risks and uncertainties. These forward-looking statements may be impacted, either positively or negatively, by various factors. Information concerning potential factors that could affect the company is detailed from time to time in the company's reports filed with the Securities and Exchange Commission.
CONTACT: Media, Ted Brockwood of Calico Media Communications for email@example.comConspiracy Entertainment Corporation, +1-503-342-8067,, Skype & gtalk, tbrockwood, aim, calicomedia; or RickMcCaffrey, Investors Relations of Conspiracy Entertainment Corporation,+1-781-444-6100, ext. 625,
Web site: http://www.conspiracygames.com/ http://www.otcfn.com/cpye/