|By Business Wire||
|March 12, 2014 05:00 AM EDT||
Novalon Games, a wholly owned subsidiary of OBJ Enterprises (OTCBB: OBJE), announced today that it has signed a letter of intent (LOI) to partner with a cutting-edge game developer and potentially license innovative biofeedback technology for use in its growing suite of mobile gaming applications.
Flying Mollusk, LLC, is a Los Angeles-based game development company that has become a leader in the implementation of advanced biofeedback tools to enhance video gaming experiences. The company has developed a breakthrough biofeedback technology that connects players to gaming devices via heart-monitoring sensors, which can then adapt gameplay to suit or challenge gamers’ stress levels. It’s a major innovation with the potential to shatter traditional limits on games’ interactivity.
According to the terms of the LOI, OBJE will have an option period of 90 days to conduct due diligence toward licensing and revenue-sharing opportunities with Flying Mollusk, with the possibility of entering into potentially lucrative joint venture, development and partnership agreements.
“Flying Mollusk is integrating cutting-edge technologies into games in a way that’s never been seen before,” said OBJE CEO Paul Watson. “We are extremely excited to discuss ways that we might leverage their top-notch development team to help create a new slate of applications for the mobile market under the Novalon Games brand.”
The company is working to build a robust portfolio of engaging new content to capitalize on the explosion in gaming across the globe. Through its gaming division, Obscene Interactive, OBJE is working to deliver new and innovative gaming products for the Apple App Store and Google Play market alongside companies such as Glu Mobile Inc. (NASDAQ: GLUU) and The9 Limited (NASDAQ: NCTY).
About Obscene Interactive
Obscene Interactive, a subsidiary of OBJ Enterprises, Inc. (OBJE), is an emerging global developer of mobile applications for smartphones and tablet computers. OBJE is building a portfolio of popular gaming titles crafted to appeal to a broad audience of consumers all over the world, supporting multiple mobile platforms for maximum marketing value. Obscene Interactive is focused on delivering the best in social gaming solutions to a mass market in order to capitalize on the rapid expansion of the mobile app marketplace.
For investment information and performance data, please visit www.ObsceneInteractive.com/investors.
Notice Regarding Forward-Looking Statements
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: This news release contains forward-looking information within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, including statements that include the words "believes," "expects," "anticipate" or similar expressions. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of the Company to differ materially from those expressed or implied by such forward-looking statements. In addition, description of anyone's past success, either financial or strategic, is no guarantee of future success. This news release speaks as of the date first set forth above and the Company assumes no responsibility to update the information included herein for events occurring after the date hereof.
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