The press release below was sent out prior to the nice rally we've seen. The CEO seems to have emboldened the bulls.
LOS ANGELES, CA, May 31, 2012 (MARKETWIRE via COMTEX) -- Global Gaming Network, Inc. (PINKSHEETS: GBGM) President and CEO Stephen Kern issued an open letter to shareholders today. In this letter Mr. Kern shared the direction GBGM will take to get the most profitable returns with its branded mobile sports alert service, SportsAlert.com, and its proprietary mobile messaging technology. Dear Fellow Shareholders,
Mobile text messaging (SMS) is growing at a dramatic pace with greater percentage increases every year. In fact, according to an August 2011 report by comScore, 234 million Americans used mobile devices and 78.5 million people in the United States owned smartphones.
Additionally, Pew Research reports that "84% of American adults own cell phones and 73% send and receive text messages." As well, "47% of American adults use their cell phones and tablet computers to get local news and information."
The SMS advertising sector has been the focus of our operations as we believe that this form of advertising is the most effective vehicle for reaching a highly receptive and responsive audience, the young male consumer. In fact, mobile is the advertising industry's fastest growing media channel, estimated by Mobile Marketing Association "to approach 4 billion in global revenues in 2014."
We believe this data validates our business plan, emphasizing our focus on growing our mobile information and technology services.
Here's how we plan to take advantage of these trends and the exciting opportunities in this space.
Over the past several months we have assessed our strengths, assets and intellectual property to determine the most productive and profitable direction for our company.
We had two primary goals:
-- Identify new markets for our mobile alert services. -- Formulate an aggressive plan to introduce and market our innovative and affordable mobile messaging platforms.Iam pleased to report we achieved both of these goals. Details will be released to shareholders and the public as we reach important milestones. However, here's some of what we hope to accomplish over the next twelve months:
-- Continue to build SportsAlert.com, the leading independent mobile sports information service, with its highly recognizable brand. -- Leverage the success of SportsAlert.com to expand into coverage of new sports and entrance into the lucrative international market. -- Broaden the revenue base of the SportsAlert service with new co-marketing arrangements with popular fantasy sports and gaming websites. -- Upon the completion of our anticipated financing, we plan on creating our Global SMS platform. It will utilize our proprietary messaging technology and offer a highly competitive modem and internet-based solution to other businesses, now controlled by the giant telcos. -- Subject to the attainment of our funding goals and the subsequent development and implementation of our Global SMS platform, we anticipate dramatic revenue growth on a yearly basis.As we reach these milestones, we will report on our progress via news releases so shareholders and the general public are kept up-to-date about our achievements. Thanks for this opportunity to bring you current on what's transpired and planned for the future for your company.
Stephen Kern, President and CEO
About Global Gaming Network, Inc.: