Freeze Tag Inc (OTC: FRZT) is a mobile gaming company that develops and publishes free-to-play, location-based mobile games for casual audiences. Revenue comes primarily from in-app purchases, where players download games at no cost and pay $0.99 or more for virtual items and special features, with customer lifetime value as the core monetization metric. The company's flagship product line includes Munzee, a location-based game built around physical and virtual QR code capture mechanics, and Eventzee, a private scavenger hunt platform sold to businesses for marketing and branding events. Freeze Tag completed a merger with Munzee Inc. as part of a stated acquisition-driven growth strategy. The company also operated Space Coast Geo Store, LLC, a merchandise subsidiary serving the geocaching market, which began shutting down in October 2024 and was expected to cease operations entirely by April 30, 2025. Games are built on proprietary game engines using Cordova, HTML5, and similar technologies, distributed through Apple, Google, and Amazon app stores.

Revenue model

Free-to-play in-app purchases: players download games at no cost and pay $0.99 or more for virtual items and special features. Secondary revenue from business-to-business sales of the Eventzee platform to companies hosting private scavenger hunts at malls, trade shows, and corporate events. Merchandise sales through Space Coast Geo Store, LLC were being wound down as of FY2024.

Products and services

Munzee: location-based mobile game centered on capturing physical QR codes and virtual game pieces on a map, with features including Daily Stroll, CuppaZee Gardens, Micro Blasts, Wishing Wells, and the Munzdex directory. Eventzee: private scavenger hunt platform for business marketing events. Space Coast Geo Store, LLC: geocaching merchandise subsidiary (shutdown initiated October 2024, expected fully closed by April 30, 2025).

Customers and end markets

Casual mobile gamers of all ages and genders globally. Business customers using Eventzee for branded scavenger hunts at malls, trade shows, company events, and campuses. Geocaching enthusiasts via Space Coast Geo Store (being discontinued as of FY2024).

Value-chain role

Mobile game developer and publisher. Builds proprietary game engines internally, distributes through third-party app stores (Apple, Google, Amazon), and manages live game operations including content updates, virtual economy adjustments, and in-game messaging. Also acts as a platform provider for business clients via Eventzee.

Geographic exposure

Global mobile game distribution stated as target market per FY2024 10-K filing. Worldwide team of employees and contractors noted as of FY2024. No specific country-level revenue breakdown disclosed in the excerpts.

Competitors

Niantic (Pokemon Go), Geocaching

Source: SEC 10-K, filed 2025-03-31

Industry: Services-Prepackaged Software