Moggle, Inc. Announces Agreement With FX Labs
BALA CYNWYD, Pa.--(BUSINESS WIRE)--Moggle, Inc. (OTCBB: MMOG) announced today that it has entered into a
professional services agreement (the “Agreement”) with FXLabs Studios
Private Limited (“FXLabs”) in order to assist Moggle in the development
of its Massive Multiplayer Online Game Platform (the “Platform”) as well
as the development of Massive Multiplayer Online Games (“MMOGs”) for use
on the Platform. FXLabs, founded in 2004, maintains software development
facilities in India and is engaged in the design and development of
games for a variety of markets including the MMOG market. Pursuant to
the Agreement, FXLabs will provide Moggle with software development
services, art and/or game design assets, game design, project
management, education and training and other services in connection with
the Platform and MMOGs. Specific services under the Agreement will be
provided through the execution by the parties of Statements of Work
(“SOW”). The parties executed an initial SOW which has authorized FXLabs
to commit six (6) software developers to the performance of development
services with respect to the Platform and MMOG on behalf of Moggle
through October 15, 2009.
Alfredo Villa, Moggle’s President, said, “We are excited to formalize
our relationship with FXLabs, which should greatly assist Moggle in
developing our Platform. Our goal is to design a Platform which will
allow internet users to play massive multiplayer online games through
their web browser without the need to download any software and also
allow game developers and other interested parties to develop web based
MMOGs directly by licensing our Platform tools or by retaining our
services. FXLabs’ experience in the MMOG marketplace should help us
achieve our goals.”
About Moggle
Moggle intends to develop an online game platform which will allow
internet users to play massive multiplayer online games (“MMOG(s)”)
through their web browser without the need to download any software (the
“Platform”). We intend to develop multiple MMOGs for use on our
Platform. Our Platform will be designed to allow MMOG players to link
into major online social networks such as FacebookTM and
MySpaceTM and engage in MMOG play with their friends and
colleagues. Our Platform will also seek to allow game developers and
other interested parties to develop web based MMOGs directly by
licensing our Platform tools or by retaining our services. We are
attempting to develop and incorporate technology into the Platform which
we believe will be desirable to movie studios, book publishers and other
media creators which will allow for the rapid transformation of existing
media into MMOGs. The Platform will also seek to support integration
with in game advertising content providers and other mainstream in game
ad content providers and provide advertising management and tracking
capabilities. The development of the Platform and MMOGs is contingent on
Moggle’s ability to raise sufficient capital for such purposes, of which
there can be no assurance. Additional information about Moggle may be
found on its website www.playmoggle.com.
Statements in this release and those set forth on Moggle’s website that
are “forward-looking statements” are based on current expectations and
assumptions that are subject to risks and uncertainties. Actual results
could differ materially because of factors such as Moggle’s inability to
raise sufficient capital to develop the Platform and/or MMOGs and market
any products that are in fact developed. For further information
regarding risks and uncertainties associated with Moggle’s business,
please refer to the “Management’s Discussion and Analysis of Financial
Condition and Results of Operations” and “Risk Factors” sections of
Moggle’s SEC filings, including, but not limited to, its annual report
on Form 10-K and quarterly reports on Form 10-Q, copies of which may be
obtained through the web site maintained by the SEC at http://www.sec.gov.
In addition, free copies of any such documents can also be obtained by
directing a request to Investor Relations Department, Moggle, Inc., 111
Presidential Boulevard, Suite 212, Bala Cynwyd, Pennsylvania 19004 or
calling Moggle at (215) 463-4099.
All information in this communication is as of the date hereof. Moggle
undertakes no duty to update any forward-looking statement to conform
the statement to actual results or changes in the company’s expectations.
About FXLabs, Inc.
FXLabs is an end to end game development company headquartered in
Hyderabad, India. Founded in September 2004, FXLabs began its operations
building PC based games both for the Indian market as well as the global
market. FXLabs currently develops and/or publishers games for the PC,
console, on-line causal, MMOG and handheld markets.