BEIJING, Nov. 29, 2012 /PRNewswire/ -- Santaro Interactive Entertainment Company (OTCQB: STIE) ("Santaro" or "Company") announced today that, in addition to its internally developed games, the Company has entered into distribution agreements with four third party game developers, pursuant to which it commences to distribute four new massive multiplayer online role-playing webgames developed by those game developers. The four webgames will be distributed through Santaro's newly established platforms at www.05yx.com and www.pk65.com.
The developers and games under these agreements are as below:
* New Fantasy City, developed by Funcity Inc., was launched on November 16, 2012. Under the agreements, Santaro is entitled to 65% of monthly revenue derived from distributing this game if such monthly revenue is less than RMB300,000 (approximately US$48,000), and is entitled to 70% of such monthly revenue if such monthly revenue is at least RMB300,000 (approximately US$48,000).
* Swooned Journey to the West, developed by Guangzhou Jieyou Software Co.Ltd., will be launched on November 23, 2012. Under the agreements, Santaro is entitled to 60% of monthly revenue derived from distributing this game if such monthly revenue is less than RMB1,000,000 (approximately US$160,000), and is entitled to 65% of such monthly revenue if such monthly revenue is at least RMB1,000,000 (approximately US$160,000).
* Battle of Thousand Heroes, developed by Gamewave Group, will be launched on November 30, 2012. Under the agreements, Santaro is entitled to 65% of monthly gross revenue derived from distributing this game.
* Fallen Immortals, developed by Guangzhou Mingchao Network Co., Ltd. will be launched. Under the agreements, Santaro is entitled to 60% of monthly revenue derived from distributing this game if such monthly revenue is less than RMB200,000 (approximately US$32,000), and is entitled to 65% of such monthly revenue if such revenue is at least RMB200,000 (approximately US$32,000).
With the internally developed 108 Warriors, launched in September 2012, and Heroes of Sango (a Three-Kingdom themed Webgame), currently in closed beta testing phase, the Company is now operating and distributing a portfolio of six games.
Mr. Chen, Chairman of Santaro added: "We're excited about the additions to our game portfolio, and we look forward to expanding the Company's list of games and network of players in China, as well as internationally. We believe our cooperation with third party developers will enhance our ability to achieve significant growth within the online game community."
About Santaro Interactive Entertainment Company:
Santaro Interactive Entertainment Company primarily designs, develops and operates 3D online games, including web-based Massive Multiplayer Online Role-Playing Games (MMORPGs). Santaro's main focus is on digital interactive entertainment products, primarily in developing and operating web-based multiplayer online games, based on its proprietary SOUL game engine and game development platform. For those unfamiliar with these complex virtual games, typically players spend weeks, even months, in a multiplayer online role-playing environment, adopting the role of a particular character — a warrior or a sorcerer, for example — developing skills and weapons, and engaging adversaries in a series of missions or combats.
This press release may contain certain forward-looking statements within the meaning of Section 27A of the Securities and Exchange Act of 1933, as amended, and Section 21E of the Securities and Exchange Act of 1934, as amended and such Forward Looking Statements are intended to be covered by the safe harbors created thereby. Investors are cautioned that all forward-looking statements involve risks and uncertainties.
All statements other than statements of historical fact in this announcement are forward- looking statements, including but not limited to the viability of the Company's business plans, the effectiveness, profitability, and the marketability of the Company's products; the Company's ability to protect its proprietary information; general economic and business conditions; the volatility of the Company's operating results and financial condition; and other risks detailed in the Company's filings with the Securities and Exchange Commission.
These forward-looking statements involve known and unknown risks and uncertainties and are based on current expectations, assumptions, estimates and projections about the company and the industry. The Company undertakes no obligation to update forward-looking statements to reflect subsequent occurring events or circumstances, or to changes in its expectations, except as may be required by law. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, management cannot assure the public that their expectations will turn out to be correct, and investors are cautioned that actual results may differ materially from the anticipated results.
SOURCE Santaro Interactive Entertainment Company