Freeze Tag, Inc. (OTCMKTS:FRZT) Is Due For A Rebound

Freeze Tag, Inc. (OTCMKTS:FRZT), the game developer, has put out some feedback from the first users of its flagship smartphone game; the Garfield Go! It is very similar to the augmented reality game ‘Pokemon Go’, but the main character is Garfield. We found a video that a gamer uploaded to YouTube. There are many reviews out there. Garfield fans in Canadian, American, and Australian are already playing it.https://www.youtube.com/watch?v=lu8z8rKIlz4SourceThe video game finally became available on June 13, 2017 in the United States. We wondered whether the market reacted to the news. We checked the share price following this date, but we did not see significant share price reaction. The reasons? In our opinion, the market participants knew the release date, thus the information had been already incorporated in the share price some days before. Have a look.SourceThe share price jumped when the company put out the video game in Australia at the beginning of June. But lately the market has been in sell off mode. The market participants waiting for another bump will need to wait for any other catalyst. In this piece, we will review some of them.The company and its recent developmentsFreeze Tag, Inc. designs and develops mobile social games similar to Candy Crush, or Pokemon Go. The company characterizes itself for using social media networks, such as Facebook, and Twitter, to interact with players, and fans. Other creations put out before have been Victorian Mysteries®, Unsolved Mystery Club®, and Etch A Sketch®. But, undoubtedly, the most relevant creation has been the Garfield Go! game. The new game has exploded on to social media. The amount of followers is a good indicator of future revenues.SourceThe most recent developments are the following. On June 13, 2017, it put out the release of the augmented reality video game in the US. The CEO, Craig Holland, celebrated the event with the following words:

"Garfield GO is the first augmented reality, location-based game that features the iconic Garfield cat character. With millions of treasure locations and real money prizes to find, we think players of all ages are going to love playing Garfield GO" Source

Additionally, some new features were noted in the press release, which, we believe, the market participants did not know. Garfield Go users need to find treasures, and obtain food, and other prizes:

"In Garfield GO, players search for hidden treasures in their own neighborhood. With the help of 3D Garfield, players can discover coins in the map view, which reflects their surroundings. Once a coin is identified, players enter "Augmented Reality" mode to search for the exact location of the treasure. Only Garfield knows where the goodies are hidden, but he won't work for free." Source

But, that's not all. We could read that the company has made agreements with big partners. This is from the press release:

"Real money prizes can be found from partners like Amazon, Starbucks, Best Buy, Domino's Pizza and more" Source

We believe that the share price did not react to this unknown information, as market participants want to check the revenues that the game produces before buying shares. In our opinion, if the company releases an estimate of its revenues, the share price may creep up even before the release of the next quarterly earnings by the company. Hence, we encourage our readers to stay alert on this ticker.Will the game be released in other countries? Yes, it may be actually a catalyst. In the communication put out on June 13, 2017, it was noted that gamers in other countries will be able to play soon. Europe, South America, Japan, Korea, or China will be great targets. In addition, FRZT noted that the game is improved thanks to the interaction with users. The data received from their experience is stored and assessed to ameliorate the game. This is the reason to explain that they did not release the game everywhere at the same time. FRZT started with Australia, then some weeks later, people in United States and Canada were able to use a better version of Garfield Go!

"While the game is off to a great start, Freeze Tag management indicated that they are busy working on fixes and adjustments to improve the game, some of them requested by their players. They pointed out that mobile applications require constant updates to meet the demands of the various devices and operating systems and to provide fresh content for players." Source

On June 20, 2017, another press release was put out with reviews from users. The CEO said the following about the feedback received and the results of the game:

"App ratings and player engagement (how long and how often players come back to play the game) are beyond our expectations. Many players have already won real prizes." Source

Additionally, a new promotion was announced. Until June 30, players can acquire "the spectacular cake hat by finding it in treasure chests or purchasing it from the hat store". The promotion is to celebrate the 39th birthday of Garfield.

Market Reaction and ConclusionThe company did not yet release any information regarding the revenues that the company will obtain in the next quarter. We believe that the market will celebrate this news when it is put out. Until then, the market looks to be in a consolidation phase. Hence, the share price is not creeping up yet.The company seems to be on fire; releasing a lot of information about the game, its adjustments, new promotions, and feedback from users. In our opinion, soon the company will release valuable information that may make investors push up the share price. To sum up, be alert on this name. It may surprise soon again.Do you like this company and want to know more? Check our previous coverage regarding this name.We will be updating our subscribers as soon as we know more. For the latest updates on FRZT, sign up below!Image courtesy of FlickrDisclosure: We have no position in FRZT and have not been compensated for this article.