Freeze Tag, Inc. (OTCMKTS:FRZT) a leading developer of mobile social games reported that a new Apple Inc. (NASDAQ:AAPL)Watch game known as ‘Black Forest: Puzzle Tiles for Watch’ has been sent for App Store approval. Once the game gets approved by Apple, it will be introduced worldwide.
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Craig Holland, the CEO said that the company initiates the process of introducing a series of new games for Apple’s Smart watch platform. There are plans to launch some of these games as promotional tie-ins to future or existing mobile games. Mr. Holland added that once approved the new game will become the first tile swap game on Apple’s Watch store. It will also give a preview of the characters featured in forthcoming Black Forest Mystery game which will be available on Apple iPad at launch. Freeze Tag expects to get an approval soon from the tech-giant.
As per an IDC report, the “smart wearable” market is set to skyrocket in this year. By the end of 2015, IDC estimates sales of 25.7 million of smart wearable units compared to 4.2 million units in 2014. The report highlights that Apple will continue to dominate the smart wearable market with estimated sales of more than 15 million units and a 62% market share. It suggests that Freeze Tag can benefit significantly if Apple approves the proposed game.
Earlier in June, Freeze Tag reported its new hidden object game witnessed “soft” launched in selected regions for live testing and data collection before the worldwide and national launches commences. Like other mobile game developers, the company initiates the launch plan for a new game in selected select territories first.
Freeze Tag, Inc. (OTCMKTS:FRZT) finished the last trading session with a large loss of 12%. The volume exploded to 28 million, much higher than the daily average of 2 million, implying a lot of selling pressure. The price is very close to a major support as clearly visible from the chart attached. The stock has mostly traded in the range of $0.002-$0.010 in the last 12 months, with small extensions on both sides. The 52 week low of $0.0016 is not very far away too, so a reaction is only the very expected thing. The price action here may determine the short term direction.