Treasure & Shipwreck Recovery Announces Further Updates…

ST. PETERSBURG, Fla., April 27, 2020 (GLOBE NEWSWIRE) — via NetworkWire – Treasure & Shipwreck Recovery, Inc. (“TSR” or “the Company” currently trading on the OTC:BLIS), is announcing updates for its gaming and app development, together with some conservative projections for its previously announced app game “Galleon Quest,” a treasure hunting and diving adventure game, which is progressing through development for testing and release. The single user and multiuser app game as previously announced on April 23, 2020 (See release at http://nnw.fm/92EaP), is progressing and the Company expects a full trailer shortly, with projections based on a conservative level below.

While the Company has shifted its operational focus toward the most immediate revenue and growth areas of its Apps Content acquisition and its to-be-released multi-platform, app game Galleon Quest, the Company intends on continuing its shipwreck recovery operations which resulted in recoveries and finds including anchor and cannon as announced on Dec. 13, 2020 (See release at http://nnw.fm/RRlN3). Currently the Company is, as many are, under restrictions and is prepared to continue its treasure recovery operations when the current governmental quarantine restrictions allow for boats and expeditions to operate again out of Florida harbors. As previously announced, we have hundreds of target locations to exploit for potential treasure recovery (See release at http://nnw.fm/44Fc4).

TSR, through its subsidiary TSR Media and Gaming, had the vision and opportunity to purchase the revenue producing app content library and site, Flavorfulapp.com (See release at http://nnw.fm/v44H3). This is a revenue flowing division, which has value that is being increased from within, including best-selling content on Amazon. This has given the Company entry into the app business, providing the basis to create what we project to be the hugely successful Galleon Quest Game into the over $150 billion app gaming market to be built for multiple platforms.

The Galleon Quest trailer is expected in the near future and the game itself has been studied for market entry. The Company has produced a pro forma in line with industry standards and feels it to be attainable. The projections are based on low end user numbers and conservative income projections. The projected roll out is in July 2020, representing a partial year’s income.

Year Number
of Users
Gross Revenues Projections Net Revenue
Projections
2020 40,000 $2,800,000.00 $1,274,000.00
2021 160,000 $12,000,000.00 $5,460,000.00
2022 320,000 $25,600,000.00 $11,648,000.00
2023 420,000 $42,000,000.00 $19,110,000.00
2024 620,000 $62,000,000.00 $28,210,000.00

By producing this kind of revenue, TSR will be able to easily support multiple ocean recovery operations once government quarantines of essential areas are cleared, hopefully by the fall. The game’s progress will be updated as it goes into Beta and other modes as well as a full trailer release.

About Treasure & Shipwreck Recovery

TSR is a three-fold treasure related company, with its own recovery vessels and partners, it has made recoveries, and holds hundreds of miles of research areas. TSR has its treasure recovery part of the Company as well as its Media Group for television, gaming and Media matters such as its gaming portion and its television side being developed. All three components will make up the triad of revenue sources and business development.

Our updated web site includes the new Media Group Page at www.treasurewreck.com.

FORWARD LOOKING STATEMENTS: This press release and the statements of representatives of TSR. (the “Company”) related thereto contain, or may contain, among other things, “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical fact included herein are “forward-looking statements,” including any other statements of non-historical information. These forward-looking statements are subject to significant known and unknown risks and uncertainties and are often identified by the use of forward-looking terminology such as “guidance,” “projects,” “may,” “could,” “would,” “should,” “believes,” “expects,” “anticipates,” “estimates,” “intends,” “plans,” “ultimately” or similar expressions. All forward-looking statements involve material assumptions, risks and uncertainties, and the expectations contained in such statements may prove to be incorrect. Investors should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The Company’s actual results (including, without limitation, TSR’s ability to advance its business, generate revenue and profit and operate as a public company) could differ materially from those stated or anticipated in these forward-looking statements as a result of a variety of factors, including factors and risks discussed in the periodic reports that the Company files with OTC Markets (Pink Sheets). All forward-looking statements attributable to the Company or persons acting on its behalf are expressly qualified in their entirety by these factors. The Company undertakes no duty to update these forward-looking statements except as required by law.

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