SPYR, INC. (OTCMKTS:SPYR) Files An 8-K Other EventsItem 8.01 Other Events.
(a) On June 22, 2018, the Company and Zakeni Limited entered into a complete settlement of all of the claims raised in the case filed by Zakeni Limited in the United States District Court for the District of Delaware case: Zakeni Limited v. SPYR, Inc., f/k/a Eat at Joe’s., Ltd. Once approved by the Court, which the Company believes it will be, the settlement will result in a dismissal with prejudice of the litigation. The Company is not required to make any cash payments to Zakeni as part of the settlement. Further details will be provided once the settlement is approved by the Court.
About SPYR, INC. (OTCMKTS:SPYR)
SPYR, Inc., formerly Eat At Joe’s, Ltd., acts as a holding company. The Company is focused on developing a portfolio of subsidiaries, which is not limited by any particular industry or business. It operates in two segments: Digital Media and Restaurant. The Digital Media segment includes developing, publishing, co-publishing and marketing mobile games and applications. The Restaurant segment includes owning and operating an American Diner theme restaurant called Eat at Joe’s. Through its subsidiary, SPYR APPS, LLC (SPYR APPS), it operates a mobile games business. SPYR APPS is focused on the development and publication of its own mobile games, as well as the publication of games developed by third-party developers. It has developed and published games, which are available in the Apple app store and Google play store. It has also entered into approximately two co-publishing agreements for two additional games. Through E.A.J.: PHL Airport, Inc., it owns and operates a theme restaurant.