SPYR Inc. - Strong Sell - 85% Downside - Connected To A Vast Network Of Stock Promotions

Aug. 03, 2016 7:30 AM ETSPYR, Inc. (SPYR)3 Comments
Fuzzy Panda profile picture
Fuzzy Panda


  • Philly Cheesesteak Restaurant pivoted to an internet and app development company. Fair Value of $0.036 so 85% downside.
  • Heavily Promoted Stock = on the top 10 most heavily promoted penny stocks list promotions and only one with Liquidity and >$40m mkt cap.
  • Current Pump is related to Spectacle Games…their office doesn’t even exist!
  • SEC deposition illustrates how they run the promotion - Directly naming SPYR's main shareholders & connecting them to past stock fraud.
  • Promotion Target from 2015 (Franklin Networks) actually dumped the company. WOW!!!!!

We are short SPYR Inc. (OTCQB:SPYR), and at by the end of this article, we think you will be too.

  • This article details the past and current promotional efforts by management team and stock promoters to inflate the valuation of SPYR Inc. despite the fact that its real revenue comes from just 1 restaurant whose lease is up 9 months from now.
  • The headquarters of the current center of promotions "Spectacle Games" doesn't exist!
  • Main Financier & SPYR Shareholder - Joe Fiore is implicated as a known stock promoter and stock manipulator in an SEC deposition. He is now doing the same thing with SPYR again.
  • SPYR exists to sell stock not develop games.
  • Only part of their business that is real - the Eat at Joes restaurant goes away in 9 months when their lease expires.
  • Cash to fund SPYR actually came from other stock promotions!

If ForceField Energy (OTC:FNRG) and Code Rebel (CDRB) had a less successful step-child it would be named SPYR Inc., and it would eat exclusively at Eat at Joes in the Philadelphia airport.

Brief history of SPYR (formerly Eat at Joes): SPYR Inc. was formed when the company formerly known as Eat at Joes "pivoted" at the end of 2014 from being a restaurant development company with 1 restaurant into a mobile advertising company & app development company with still 1 restaurant. Sound ridiculous? It is!

Last year, SPYR reached a market cap of $100m as they sent out tons of press releases about their new Feb 2015 acquisition of Franklin Networks and their very basic apps Plucky & Pluck Rush. By Dec of 2015 Franklin networks had broken up with SPYR and unwound their acquisition agreement. This is the first time since the dissolution of ThinOps acquisition by Code Rebel (

This article was written by

Fuzzy Panda profile picture
Short seller - 15+ years on the buy-side including Multi-Bn Hedge Funds.   MBA & undergrad from a top US institution.  Now exposing terminal shorts, promotion schemes, and legal frauds.  Tips/ideas on companies misleading investors can be sent to fuzzypandaresearch@protonmail.com.  We always welcome collaboration and have respect for your anonymity. There are multiple ways to submit documents anonymously please reach out.  Any proceeds from Seekingalpha.com to Fuzzy Panda Research will be donated to charities supporting victims of financial fraud.

Disclosure: I am/we are short SPYR. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it. I have no business relationship with any company whose stock is mentioned in this article.

Additional disclosure: We were short FNRG and CDRB before the SEC halted them. We reserve the right to cover our SPYR short position at anytime. We have no position in PLPL, OICT, PMCB, or GLUU or plans to initiate one in the near-term. Please do your own research.

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