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Joytoto USA Inc. (OTCBB: JYTO) is one of our highlighted companies this month. The company’s two business segments are electronic products and components, and online games. The electronic products and components business is that of a virtual, original equipment manufacturer (OEM) and original design manufacturer (ODM) of consumer electronics for retailers throughout the world. Joytoto USA's online game business segment operates online games in North America pursuant to an Exclusive North American Master License Agreement with Joyon Entertainment Co., Ltd. ("Joyon Korea").
In our client’s news today,
Joytoto USA Inc. announced it plans to distribute the popular Korean online game, “Gersang”, on its U.S. site. The game will be marketed as “The Great Merchant” on the U.S. website. Work continues on the English translation, which should be completed and available for closed beta service during the fourth quarter of 2008.
Joytoto selected “The Great Merchant” for U.S. release due to its popularity in the Korean online gaming market. This game is one of the most successful Massively Multi-Player Online Role Playing Games (MMORPG) that Joytoto has released to the Korean market. Daum, which is South Korea’s second-largest web portal and search engine, rated the Korean release of the game as the fourth most popular online game played in Korea. The game has also received a variety of awards, including the Korean Entertainment Grand Prize.
Online gaming is one of Joytoto’s business segments. Joytoto USA’s online game business operates online games under the North American Master License Agreement with Joyon Entertainment Co., Ltd. The agreement allows Joytoto access to Joyon’s line of successful online games that are operating in the Asian markets and are generating more than $100 million in revenues.
With the growing demand, Joytoto anticipates that the U.S. portal will see the same type of success achieved by the Korean portal. As the work on the U.S. website nears completion, the company will continue to increase site interest by announcing additional online game release dates.
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Forward-Looking Statement:
This release contains forward-looking statements 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. All forward-looking statements are inherently uncertain as they are based on current expectations and assumptions concerning future events or future performance of the company. Readers are cautioned not to place undue reliance on these forward-looking statements, which are only predictions and speak only as of the date hereof. Risks and uncertainties applicable to the company and its business could cause the company's actual results to differ materially from those indicated in any forward-looking statements.