HPIL HOLDING signs MOU with the World Traditional Okinawa Karate Federation to jointly develop and market Karate Video Game for various platforms

MIDLAND, Mich., Feb. 08, 2019 (GLOBE NEWSWIRE) -- HPIL Holding (the "Company") (OTC PINK: HPIL) is pleased to announce that the Company has signed an MOU with the World Traditional Okinawa Karate Federation –The World Karate Governing Body (WTOKF) with the intention for HPIL to design and develop a Karate-based Video Game with WTOKF providing technical expertise. The WTOKF will market the Karate Game to its entire membership. HPIL will offer the Karate Game to various markets.

The global gaming market is expected to exceed $180 billion in revenues in 2021, growing 30.6% from $137.9 billion in 2018. At $70.3 billion, the mobile gaming industry accounts for more than half of all global gaming revenue There are over 1 Billion active Apple (IOS) devices and over 2 Billion active Android devices. HPIL will develop for the Smartphone market initially, targeting both the Apple and Android Operating Systems.  

HPIL HOLDING previously filed an 8K with the Securities and Exchange Commission (SEC) regarding the Company’s intention to develop a martial arts karate game.

Mr. Ray Wong, COO of HPIL HOLDING, said, “We are in the process of identifying software developers and programmers to contract with HPIL in order to develop the game.”

Mr. Ionel Bara, Founder of WTOKF, said,  “Karate is expected to make its debut appearance at the Summer Olympics in 2020 in Tokyo, Japan. Now is the opportune time to develop and market a Karate game with the WTOKF to bring more awareness of Karate to a younger and larger world wide audience. The WTOKF has a base of 84 countries in the world in its constituent associations.”

HPIL Holding () is a diversified holding company listed on OTC Markets. HPIL Holding is focused on investing in both private and public companies in differing business sectors. HPIL Holding does not restrict its potential candidate target companies to any specific business, industry or geographical location and, thus, acquires various types of businesses. HPIL Holding also evaluates the acquisition of intellectual properties and technologies.

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Certain statements in this press release are forward-looking within the meaning of the Private Securities Litigation Reform Act of 1995. These statements may be identified by the use of forward-looking words such as "anticipate," "believe," "forecast," "estimate," "expect," "plan," "potential," "seek," and "intend," among others. These forward-looking statements are based on the Company's current expectations and actual results could differ materially. There are a number of factors that could cause actual events to differ include, but are not limited to, substantial competition; our possible need for financing; uncertainties of technological changes; and dependence upon third parties. The Company does not undertake an obligation to update or revise any forward-looking statement. All of the Company's forward-looking statements are expressly qualified by all such risk factors and other cautionary statements. The information set forth herein speaks only as of the date hereof.

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