AMCG - Amico Games Corp. (OTCBB Penny Stock)

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AMCG breaking its old high.

AMCG Chart

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Picked up some .05's. 10 min chart shows uptrend.

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Closed HOD, up 16%. Holding overnight.

[amicogames]

Amico Games Secures Expanded Facilities and Creates New Development Team
Announces Registered User Increase and Update of U.S. Website With FAQs
GUANGZHOU, China, Nov. 11, 2010 (GLOBE NEWSWIRE) -- Amico Games Corp. (OTCBB:AMCG), an interactive entertainment media company specializing in developing some of China's most popular massively multi-player online role-playing games (MMORPGs) for mobile phones, today announced the Company is expected to move into its new Guangzhou based office on November 20, 2010. The new 1,500 square meter office is located in Guangzhou's major business hub and has an area approximately three times as large as its current location.
Commenting on the Company's new headquarters, CEO Peter Liu stated that "The expanded facilities will allow us to continue staff increases, including planned expansions of the R&D, marketing, game design and customer service teams. In addition, the Company has recently created a new team to develop games for Nokia's Symbian and Google's Android mobile operating systems."
"With the launch of our game distribution portal E-Ge-Ge and new service offerings to third party game developers, the Company has entered the second phase of our growth strategy. The expanded facilities will enable us to assist other game developers with network access, building application environments, customer relations, payment solutions, operational support, and advertising and promotion," continued Mr. Liu.
"Moreover, the new office will enhance our ability to implement the third phase of our corporate development strategy to create our own online social gaming community before year's end," said Mr. Liu.
The Company also announced its registered users grew to 29,806,663, an increase of 568,026 for the month of October; and that a FAQ section has been added to the investor relations portion of its US website at Amico Games US.
About Amico Games Corp.
Amico Games is a subscriber based interactive entertainment company with over 29 million registered users. The company develops massively multiplayer role playing online games (MMRPOG) based on Java™ technology for 3G telecommunication networks in China. The company created some of China's earliest mobile phone multiplayer games, was the first Chinese company to cooperate with Nokia and was the first company to provide multiplayer games over the WAP platform of China Mobile. Further information on the Company can be found at U.S. Securities and Exchange Commission (Home Page) and the company's websites atAmico Games US.
Safe Harbor Statement
Except for historical information contained herein, the matters set forth above may be forward-looking statements that involve certain risks and uncertainties that could cause actual results to differ from those in the forward-looking statements. Words such as "anticipate," "believe," "estimate," "expect," "intend" and similar expressions, as they relate to Amico or its management, identify forward-looking statements. Such forward-looking statements are based on the current beliefs of management, as well as assumptions made by and information currently available to management. Actual results could differ materially from those contemplated by the forward-looking statements as a result of certain factors such as the level of business and consumer spending, the amount of sales of Amico's products, the competitive environment within the industry, the ability of Amico to continue to expand its operations, the level of costs incurred in connection with Amico's expansion efforts, economic conditions in the industry and the financial strength of Amico's customers and suppliers. Amico does not undertake any obligation to update such forward-looking statements. Investors are also directed to consider all other risks and uncertainties.
CONTACT: Amico Games Corp.
Investor Relations
(310) 301-0082
IR@amicogamesus.com

[amicogames]

Amico Games Secures Expanded Facilities and Creates New Development Team
Announces Registered User Increase and Update of U.S. Website With FAQs
GUANGZHOU, China, Nov. 11, 2010 (GLOBE NEWSWIRE) -- Amico Games Corp. (OTCBB:AMCG), an interactive entertainment media company specializing in developing some of China's most popular massively multi-player online role-playing games (MMORPGs) for mobile phones, today announced the Company is expected to move into its new Guangzhou based office on November 20, 2010. The new 1,500 square meter office is located in Guangzhou's major business hub and has an area approximately three times as large as its current location.
Commenting on the Company's new headquarters, CEO Peter Liu stated that "The expanded facilities will allow us to continue staff increases, including planned expansions of the R&D, marketing, game design and customer service teams. In addition, the Company has recently created a new team to develop games for Nokia's Symbian and Google's Android mobile operating systems."
"With the launch of our game distribution portal E-Ge-Ge and new service offerings to third party game developers, the Company has entered the second phase of our growth strategy. The expanded facilities will enable us to assist other game developers with network access, building application environments, customer relations, payment solutions, operational support, and advertising and promotion," continued Mr. Liu.
"Moreover, the new office will enhance our ability to implement the third phase of our corporate development strategy to create our own online social gaming community before year's end," said Mr. Liu.
The Company also announced its registered users grew to 29,806,663, an increase of 568,026 for the month of October; and that a FAQ section has been added to the investor relations portion of its US website at Amico Games US.
About Amico Games Corp.
Amico Games is a subscriber based interactive entertainment company with over 29 million registered users. The company develops massively multiplayer role playing online games (MMRPOG) based on Java™ technology for 3G telecommunication networks in China. The company created some of China's earliest mobile phone multiplayer games, was the first Chinese company to cooperate with Nokia and was the first company to provide multiplayer games over the WAP platform of China Mobile. Further information on the Company can be found at U.S. Securities and Exchange Commission (Home Page) and the company's websites atAmico Games US.
Safe Harbor Statement
Except for historical information contained herein, the matters set forth above may be forward-looking statements that involve certain risks and uncertainties that could cause actual results to differ from those in the forward-looking statements. Words such as "anticipate," "believe," "estimate," "expect," "intend" and similar expressions, as they relate to Amico or its management, identify forward-looking statements. Such forward-looking statements are based on the current beliefs of management, as well as assumptions made by and information currently available to management. Actual results could differ materially from those contemplated by the forward-looking statements as a result of certain factors such as the level of business and consumer spending, the amount of sales of Amico's products, the competitive environment within the industry, the ability of Amico to continue to expand its operations, the level of costs incurred in connection with Amico's expansion efforts, economic conditions in the industry and the financial strength of Amico's customers and suppliers. Amico does not undertake any obligation to update such forward-looking statements. Investors are also directed to consider all other risks and uncertainties.

[amicogames]

Revenue Increases 47.6%, Net Income Up 66.8%

Guangzhou, China, December 3, 2010 (GLOBE NEWSWIRE) -- Amico Games Corp. (OTC Bulletin Board: AMCG) (''Amico''), an interactive entertainment media company specializing in developing some of China's most popular massively multi-player online role-playing games (MMORPGs) for mobile phones, announced annual results for its fiscal year ending August 31, 2010. Revenues for the period were $1.86 million, an increase of 47.6% from 2009 revenue of $1.26 million, and net income was $324,350, up 66.8% from 2009 net income of $194,495.

Net cash provided by operating activities was $572,323 for the period, compared to 2009 net cash used in operating activities of $29,926, which resulted from an increase in net income and a decrease in accounts receivable. The Company has a working capital surplus of $642,022, compared to $169,271 for fiscal 2009.

Commenting on the Company's 2010 fiscal year results, CEO Peter Liu stated, “The strong growth in our financial results proves the market demand for our games and technology. Our business model continues to generate positive cash flows, and management continues to deliver earnings growth. As we enter the second phase of our corporate development strategy to distribute and operate our own games as well as those of third-party developers, we expect to continue to grow our top line and improve our operating margins by capturing a larger share of end-user revenues.”

About Amico Games Corp.
Amico Games is a subscriber based interactive entertainment company with over 29 million registered users. The company develops massively multiplayer role playing online games (MMRPOG) based on Java™ technology for 3G telecommunication networks in China. The company created some of China's earliest mobile phone multiplayer games, was the first Chinese company to cooperate with Nokia and was the first company to provide multiplayer games over the WAP platform of China Mobile. Further information on the Company can be found at U.S. Securities and Exchange Commission (Home Page) and the company's websites at Welcome To Amico Games - Amico Games US.

Safe Harbor Statement
Except for historical information contained herein, the matters set forth above may be forward-looking statements that involve certain risks and uncertainties that could cause actual results to differ from those in the forward-looking statements. Words such as "anticipate," "believe," "estimate," "expect," "intend" and similar expressions, as they relate to Amico or its management, identify forward-looking statements. Such forward-looking statements are based on the current beliefs of management, as well as assumptions made by and information currently available to management. Actual results could differ materially from those contemplated by the forward-looking statements as a result of certain factors such as the level of business and consumer spending, the amount of sales of Amico's products, the competitive environment within the industry, the ability of Amico to continue to expand its operations, the level of costs incurred in connection with Amico's expansion efforts, economic conditions in the industry and the financial strength of Amico's customers and suppliers. Amico does not undertake any obligation to update such forward-looking statements. Investors are also directed to consider all other risks and uncertainties.


CONTACT
Amico Games Corp.
Investor Relations
(310) 301-0082
IR@amicogamesus.com

The following table shows the selected audited condensed consolidated income statement data of the Company and its subsidiaries for the year ended August 30, 2010. The data should be read in conjunction with the Condensed Consolidated Financial Statements of the Company for the year ended August 31, 2010.




AMICO GAMES CORP
Consolidated Statements of Operations

For the Year Ended
Aug. 31,
2010 2009

Revenue $ 1,855,692 $ 1,258,765
Operating Costs and Expenses:
Selling expenses 497,528 389,906
A&G expenses 1,041,303 595,092
Depreciation of property, plant and equipment 16,349 14,836
Total operating costs and expenses 1,555,180 999,834
Income (Loss) From Operations 300,512 258,931

Interest income (704 ) (675 )
Interest expenses 2,157 439


Income (Loss) Before Income Taxes 299,059 259,167
Income Tax Expense (Benefit)
Current (25,291 ) 52,289
Defered - 9,383
-
Net Income (Loss) $ 324,350 $ 197,495

Other Comprehensive Income
Foreign currency translation adjustment (1,867 ) 534
Comprehensive Income $ 322,483 $ 198,029

Earnings Per Share, Basic and Diluted $ 0.00 $ 0.00

Weighted Average Shares Outstanding 200,591,507 163,500,000

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[amicogames]

China is the largest mobile phone market in the world. With mobile revenue growing faster than fixed-line, China’s telecommunication providers are rolling out 3G networks and providing value-added services such as mobile phone gaming to capture market share.

PRC Mobile Phone and Value Added Services Industry Statistics
According to data released Tuesday, July 20, China Telecom had a total of 7.2 million 3G users as of the end of June. This is only slightly lower than the 7.6 million users reported by China Unicom, but the latter has twice as many 2G subscribers, a much bigger base to find 3G converts. China Mobile has by far the largest 3G user base, with 10.5 million users as of the end of June. Altogether, China now reports 25 million 3G users, or a paltry 3% of the total mobile user base. China Telecom Made Strides in 3G

Interim Highlights from China’s Big Three Mobile Telecommunications Providers

1. China Mobile (CHL) 2010 Interim Results
• Value-added business revenue increased 13.4%, contributing 29.5% of total revenue
• 3G customers exceeded 10 million
• Mobile Internet access is growing rapidly, is a key growth driver, contributing 65.7% of value-added business revenue growth
• Mobile gaming paying users of proprietary games exceeded 3.5 million CHINA MOBILE LIMITED.

2. China Telecom (CHA) 2010 Interim Result
Subscribers (Mil) 2009.12 2010.6 Change
Access Lines in Services 188.56 181.07 -7.49
Mobile Subs 56.09 74.52 18.43

Revenue Breakdown (RMB Mil) 1H2009 1H2010 Change
Wireline 86,552 82,458 4.7%
Voice 41,060 32,915 -19.8%
Data 42,567 46,514 9.3%

Mobile 16,002 25,094 56.8%
Voice 9,051 14,102 55.8%
Date 3,763 8,668 130.3%
• Mobile revenue grew 56.8% year yoy
• Mobile Data growing rapidly: Mobile Data/Mobile Revenue Growth 34.5%
• 3G Subscribers grew 76.4% from 2009.12 to 2010.6
China Unicom (Hong Kong) Limited

3. China Unicom (CHU) 1H2009 1H2010 YoY%
Operating Revenue (RMB Mil) 76,319 82,113 7.6%
Mobile 34,879 41,046 17.7%
Fixed-line 41,084 40,109 -2.4%

Adjusted Service Revenue 74,230 79,103 6.6%
Mobile 34,194 39,090 14.3%
Fixed-line 39,908 39,476 -1.1%
China Unicom (Hong Kong) Limited
For more information regarding Amico Games Corp (AMCG.OB) please visit Welcome To Amico Games - Amico Games US