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Tapinator Repurchases and Cancels All of its Preferred Shares


Company eliminates 11,283,333 potentially convertible common shares, representing approximately 12% of Company’s current common shares outstanding

New York, NY, September 10, 2018 - Tapinator, Inc. (OTCQB: TAPM), a developer and publisher of mobile games and applications on the iOS, Google Play and Amazon platforms today announced the repurchase of 1,354 shares of the Company’s Series B Convertible Preferred Stock for a per share purchase price of $270.83, or an aggregate purchase price of $366,708.32. The repurchased shares represent all of the outstanding shares of the Series B Convertible Preferred Stock and, following the transaction, the Company will have no Preferred Stock outstanding in any class. Pursuant to the terms of the Series B Convertible Preferred Stock, the repurchased shares were convertible into 11,283,333 shares of the Company’s common stock.   The repurchase purchase price represents a per share common stock purchase price of $0.0325, if conversion had occurred.

Andrew Merkatz, President of Tapinator, commented, “Earlier this year we eliminated the Company’s debt in its entirety and we are pleased to follow up that transaction by now eliminating all of our Preferred Stock, resulting in a completely clean capital structure and the elimination of significant potential common stock dilution.   This transaction was opportunistic in that we were able to purchase this stock at a value below market and at a level that we believe to be well below fair value for the Company when comparing the Company’s enterprise value (EV), historical revenues and adjusted EBITDA (a non-GAAP measure) to those of comparable publicly traded mobile gaming companies.

Ilya Nikolayev, CEO of Tapinator, also commented, “This transaction is a testament to the strong conviction we currently maintain for our core mobile gaming and applications business.   By repurchasing a significant quantity of our own shares, we hope to send a strong signal to the market that the recent price decline is contrary to our belief in the fundamental health and outlook for Tapinator.”

About Tapinator

Tapinator (OTCQB: TAPM) develops and publishes mobile games and applications on the iOS, Google Play and Amazon platforms.  Tapinator’s portfolio includes over 300 mobile gaming titles that, collectively, have achieved over 450 million player downloads, including games such as ROCKY™, Video Poker Classic, Solitaire Dash and Dice Mage. Tapinator generates revenues through the sale of branded advertisements and via consumer transactions, including in-app purchases and subscriptions. Founded in 2013, Tapinator is headquartered in New York, with product development teams located in North America, Europe and Asia.  Consumers can find high-quality mobile entertainment wherever they see the ‘T’ character logo, or at

Forward Looking Statements

To the extent that statements contained in this press release are not descriptions of historical facts regarding Tapinator, they are forward-looking statements reflecting the current beliefs and expectations of management made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Words such as “believe,” “feel,” "may," "will," "expect," "anticipate," "estimate," "intend," and similar expressions (as well as other words or expressions referencing future events, conditions or circumstances) are intended to identify forward-looking statements. Forward-looking statements in this release involve substantial risks and uncertainties that could cause the development and monetization of our mobile games, future results, performance or achievements to differ significantly from those expressed or implied by the forward-looking statements. Such risks and uncertainties include, among others, our belief that this transaction was opportunistic and completed at a level well below fair value based when comparing our financial metrics to those of comparable publicly traded mobile gaming companies and our belief that the recent price decline is contrary to our fundamental health and outlook. Tapinator undertakes no obligation to update or revise any forward-looking statements. The quoting and trading of the Company's common stock on the OTC Market Group's OTC Link quotation system is often thin and characterized by wide fluctuations in trading prices, due to many factors that may have little to do with the Company's operations or business prospects. As a result, there may be volatility in the market price of the shares of the Company's common stock for reasons unrelated to operating performance. Moreover, the OTC Market Group's OTC Link quotation system is not a stock exchange, and trading of securities on it is often more sporadic than trading of securities listed on the NASDAQ Stock market or another securities exchange. Accordingly, stockholders may have difficulty reselling any of their shares. For a further description of the risks and uncertainties that could cause actual results to differ from those expressed in these forward-looking statements, as well as risks relating to the business of the Company, see Tapinator's Risk Factors which are available within the disclaimers section of


Tapinator Investor Relations

(914) 930-6232

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