Joytoto USA Incorporated is now a major player in the field of MP3 technology and online gaming, but its creation was far from an overnight success story. Rather, it was a long chain of strategic acquisitions. It all started with a small Korean company called Joyon Entertainment Incorporated(JEI), which was an online game developer and manufacturer of small multimedia electronic devices. After a short stand in the US, Joyon Entertainment then acquired Joytoto America, which had exclusive rights to distribute and commercially launch up to 28 online games in North America.
The acquisition of Joytoto America gave JEI a jumpstart into the online gaming industry, because it came with thousands of Joytoto’s loyal gaming enthusiast’s fan base. In June of 2007, JEI continued its string of acquisitions by gobbling up Joytoto Technologies, which had a worldwide Master Distribution Agreement for the MP3 products of one of Korea’s leading manufacturers and distributors of MP3 devices. This gave the company a terrific position in the consumer electronics market for digital media devices.
Finally, the string of acquisitions came to and end when Joytoto USA Incorporated acquired Joyon Entertainment Incorporated on October 30, 2007. The resulting company, Joytoto USA, is a publicly traded company listed on Nasdaq’s OTC Bulletin board and hopes to apply for listing on the American Stock Exchange when all requirements are met, possibly as early as the second quarter of 2008.
Today was a historic day for the company, as they announced the reception and completion of their first U.S. purchase order. The first order was completed and resulted in $730,000 in revenues for the company thanks to the shipment of 15,000 MP3 players to an electronic superstore.
The announcement of this order sent shares of the stock up nearly 47% in one trading day on over 40 times average volume. It proved to the stock community that Joytoto USA can handle large orders on time, on budget and without issue. It also opens the door for repeat orders from the satisfied customer and, more importantly, has opened the eyes of other vendors.
Let us hear your thoughts: Joytoto USA, Inc. Message Board