Florida-based Tiger Telematics has completed filing of its Report on Form 10K for the year ended 2004 and is focused on an expedited completion of its Reports on Form 10Q prior to the Gizmondo’s US launch date.
Since the Company’s accounts for the past year ended 2004 have all been disclosed and are available on the sec.gov web site, the Company plans to file its 10Q’s up to date. This will enable the Company to file for trading on the NASDAQ listed exchange.
This listing, when approved, will permit the Company to engage a much larger investor base as it permits retail solicitation orders and research by analysts. Tiger’s common stock will then be considered a marginable security for loans.
The Gizmondo technology, especially with the inclusion of blue tooth and GPS, is capable of competing effectively in the world of cell phones, ipods and other communication devices.
On the 30th September, the Company will also be launching Satellite Navigation software for the Gizmondo, and highly competitive hardware bundles delivering subscription-free GPS sat nav for under GBP200, which has prompted significant and additional commitment from retail.
Carl Freer, co-founder and Chairman, Tiger Telematics, says: “We are gearing up our inventory as a result of an unexpected surge in sales. We also need product in the USA for our upcoming launch in time for the Christmas season. Recent updates from our manufacturers allow us to expect to have Gizmondos available to meet the increasing demand.
“Our investment bank will be helping us with financing and making introduction to institutions including hedge funds and retail clients. This might result in a registration statement for securities in the near future.”
“Our state-of-the-art game development studios continue to impress the industry with innovative design and functionality utilising the unique features of the Gizmondo. We will continue to develop and create more groundbreaking games, and update some classic titles as well. Gizmondo Studios still plan to have 89 titles by the year-end of 2005.”
He concluded, “We envision an upcoming period of growth, having evolved from a development company to a solid entertainment and communication company.”
