AppYea Inc - APYP stock

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OTC Symbol: APYP | OTC Tier: OTCQB

About Appyea

Introduction

Appyea Inc (OTC: APYP) is a publicly-traded mobile app development company that specializes in developing, marketing, and publishing mobile gaming, entertainment, and lifestyle applications. The company was founded in 2012 and is headquartered in Las Vegas, Nevada. AppYea's apps are available on both iOS and Android platforms, and the company uses various monetization models, such as in-app purchases and advertisements, to generate revenue.

Uplisting

AppYea Inc. has been approved for an up-listing to the OTCQB market. The OTCQB market is a higher tier over-the-counter market that requires companies to meet more stringent financial and disclosure requirements than the Pink market where AppYea's shares are currently listed.

The up-listing to the OTCQB market is a significant milestone for AppYea as it demonstrates the company's commitment to transparency and good governance practices. It also provides the company with greater visibility and exposure to potential investors, which may help to increase liquidity and the company's shareholder base.

The press release also mentions that AppYea has been working to improve its financial reporting and has engaged a PCAOB registered auditor to complete its audits going forward. The company's management believes that the up-listing to the OTCQB market and the improved financial reporting will help to increase shareholder value and position the company for future growth opportunities.

Product Portfolio

AppYea's portfolio of apps includes games like "TapThat" and "Warp Speed Math," entertainment apps like "Screen Candy" and "EZCal - Calendar Widget," and lifestyle apps like "Family Organizer" and "Egg Recipes." The company also offers app development services to clients and has experience in developing custom apps for businesses and organizations.

In addition to its app development business, AppYea has recently expanded into the health and wellness market with the acquisition of SleepX, a sleep tracking and analysis platform. The company plans to develop new products and services using SleepX's technology and expertise.

Distribution

AppYea finalized the logistical preparations and transported the initial inventory required to kickstart the commercial introduction and distribution of its AppySleep product within the United States in December of 2023. The initial shipment of AppySleep, the company's solution for addressing snoring issues, was delivered to its logistics facility in New Jersey in late 2023. The company announced it's first shipments to customers occurred in January, 2024.

SleepX Acquisition

On December 31, 2021 the company announced that it had completed the acquisition of medical device company SleepX, maker DreamIT which is a wearable sleep apnea and snoring monitor. The press release announces that AppYea, a publicly-traded mobile app development company, has completed the acquisition of SleepX, a sleep tracking and analysis platform. The acquisition marks AppYea's entry into the health and wellness market and expands its portfolio beyond gaming and entertainment apps. SleepX's technology will be integrated into AppYea's existing platform, and the company plans to develop new products and services using the sleep tracking and analysis capabilities. The press release also mentions that SleepX has an established customer base and generated over $500,000 in revenue in 2021.

Leadership

On January 11, 2022 the company announced the appointment of Prof. Amir Geva to the role of Chief Science Officer. Prof. Geva's background and accomplishments include: 1) The founder of biomedical AI companies Elminda, InnerEye and WideMed, 2) Currently serving as the Head of the Biomedical Signal Processing and Machine Learning Lab and as Professor at the Electrical and Computers Engineering Department at Ben Gurion University of the Negev in Israel, 3) Over 40 years of experience and 25 years in leadership in the field of machine learning and artificial intelligence. Prof. Geva stated, "The company has introduced a revolutionary combination of sensor technology, data analysis and machine learning to take on the challenge sleep-training for adults and improving people’s sleep and general wellbeing."

Financing

Equity Financing

AppYea secured an equity financing deal with a group of strategic investors in August, 2023. As part of this transaction, the strategic investors intend to buy all the existing Company notes from previous noteholders. They also plan to significantly extend the maturity period of these notes and change the conversion price from a discounted variable rate mechanism to a fixed conversion price. The new note holders have agreed not to convert their notes until all the prior notes have been acquired. The strategic investors have already purchased a major portion of the original outstanding notes.

Additionally, Mr. Boris (Bary) Molchadsky, who is in control of the Company, has made a commitment to keep all his shares locked for a minimum of three years, except in the event of a potential uplisting to the NYSE. The strategic investors are expected to invest a total of up to $4 million, which includes both the equity investment and the repurchase of outstanding notes and preferred shares.