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eGames Announces Sale of Cinemaware Assets(October 21, 2009)
LANGHORNE, Pa., Oct. 21, 2009 (GLOBE NEWSWIRE) -- Casual games publisher and developer eGames, Inc. (Pink Sheets:EGAM) announced today that it has sold the intellectual property rights related to its Cinemaware assets to an undisclosed buyer for $150,000 cash. This sales transaction will be reflected in the Company's fiscal quarter ending December 31, 2009, and will favorably impact those financial results because the book value of the related assets had been written down to zero during the year ended June 30, 2009.
"The sale of the Cinemaware brand is both timely and strategic. It provides eGames with additional working capital as we approach the holiday selling season," said eGames Vice President, Sales and Marketing Rich Siporin.
About eGames, Inc.
eGames, Inc., headquartered in Langhorne, Pennsylvania, develops and publishes casual games for the PC, Nintendo DS and Wii, iPhone, and the Internet including The Dracula Files, Burger Island(R), Burger Island 2: The Missing Ingredient, Defender of the Crown: Heroes Live Forever(R), Purrfect Pet Shop(R), and more. Additional information regarding eGames, Inc. can be found at http://www.egames.com.
CONTACT: eGames, Inc. Rich Siporin, Vice President, Sales and Marketing (215) 750-6606 (Ext. 129) firstname.lastname@example.org
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