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<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: center"></P>

<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: center">As Filed With the Securities and Exchange Commission
on January 19, 2021</P>

<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: right; border-bottom: Black 1.5pt double">Registration
No.&nbsp;333-&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>UNITED STATES</B></P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>SECURITIES AND EXCHANGE COMMISSION</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Washington, D.C. 20549</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 6pt; text-align: center"><B>_____________________</B></P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>FORM S-8</B></P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>REGISTRATION STATEMENT</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>UNDER</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>THE SECURITIES ACT OF 1933</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 6pt; text-align: center"><B>_____________________</B></P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>SPYR, INC.</B></P>

<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>(Exact name of registrant as specified in
its charter)</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 6pt; text-align: center"><B>_____________________</B></P>

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    <TD STYLE="width: 32%; padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Nevada</B></P>
        <P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>(State or other jurisdiction of<BR>
        incorporation or organization)</B></P></TD>
    <TD STYLE="width: 36%; padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 10.5pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>4643 South Ulster Street, Ste. 1510</B></P>
        <P STYLE="font: 10.5pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Denver, CO 80237</B></P>
        <P STYLE="font: 10.5pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-size: 8pt"><B>(Address,
        including zip code, of Principal Executive Offices)</B></FONT></P></TD>
    <TD STYLE="width: 32%; padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>75-2636283</B></P>
        <P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>(I.R.S. Employer</B></P>
        <P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Identification Number)</B></P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="3" STYLE="font: 11pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 8pt"><B></B></FONT></TD></TR>
</TABLE>
<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 6pt; text-align: center"><B>_____________________</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>SPYR, Inc. </B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Equity Incentive Plan</B></P>

<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>(Full title of the plan)</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 6pt; text-align: center"><B>_____________________</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Registered Agents, Inc.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>401 Ryland Street, Ste. 200-A</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Reno, NV 89502</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Telephone: (775) 401-6800 </B></P>

<P STYLE="font: 10pt/150% Times New Roman, Times, Serif; margin: 0; text-align: center"><B>(Name and address of agent for service)</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 6pt; text-align: center"><B>_____________________</B></P>

<P STYLE="font: 9.5pt Times New Roman, Times, Serif; margin: 0 0 6pt">Indicate by check mark whether the registrant is a large
accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller reporting company. See the definitions of &#8220;large
accelerated filer,&#8221; &#8220;accelerated filer&#8221; and &#8220;smaller reporting company&#8221; in Rule 12b-2 of the Exchange
Act.</P>

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    <TD STYLE="width: 26%; padding: 3pt -5.05pt 3pt 4.5pt; font: 11pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 9pt">Large accelerated filer&#9;</FONT>[_]</TD>
    <TD STYLE="width: 20%; padding: 3pt -5.05pt 3pt 5.4pt; font: 11pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 9pt">Accelerated filer &#9;</FONT>[_]</TD>
    <TD STYLE="width: 25%; padding: 3pt -5.05pt 3pt 6.75pt; font: 11pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 9pt">Non-accelerated filer&#9;</FONT>[_]</TD>
    <TD STYLE="width: 29%; padding: 3pt -5.05pt 3pt 0.05in; font: 11pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 9pt">Smaller reporting company&#9;</FONT>[X]</TD></TR>
</TABLE>
<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: center">___________________________</P>

<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>


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<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: center">CALCULATION OF REGISTRATION FEE</P>

<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

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    <TD STYLE="width: 32%; border-top: Black 1.5pt double; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 9pt"><B>Title of Securities to<BR>
be Registered</B></FONT></TD>
    <TD STYLE="width: 17%; border-top: Black 1.5pt double; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 9pt"><B>Amount to be<BR>
Registered (1)</B></FONT></TD>
    <TD STYLE="width: 17%; border-top: Black 1.5pt double; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 9pt"><B>Proposed Maximum<BR>
Offering Price<BR>
Per Share (2) </B></FONT></TD>
    <TD STYLE="width: 17%; border-top: Black 1.5pt double; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 9pt"><B>Proposed Maximum<BR>
Aggregate<BR>
Offering Price (2)</B></FONT></TD>
    <TD STYLE="width: 17%; border-top: Black 1.5pt double; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 9pt"><B>Amount of<BR>
Registration<BR>
Fee (2)(3)</B></FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top; padding-top: 3pt; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 9pt">Common Stock, $0.0001 par value</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-top: 3pt; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 9pt">10,000,000</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-top: 3pt; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 9pt">$0.12</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-top: 3pt; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 9pt">$1,200,000</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-top: 3pt; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 9pt">$130.92</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1.5pt double; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt double; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt double; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt double; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt double; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

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<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(1)</TD><TD STYLE="text-align: justify">This registration statement (this &#8220;Registration Statement&#8221;) is being filed for purposes
of registering ten million shares of common stock of SPYR, Inc. (the &#8220;Registrant&#8221;), issuable pursuant to our Equity
Incentive Plan, as the same may be amended or restated (the &#8220;Equity Incentive Plan&#8221;). Pursuant to Rule 416(a) under
the Securities Act of 1933, as amended (the &#8220;Securities Act&#8221;), this Registration Statement also covers an indeterminate
number of shares that may be offered or issued as a result of stock splits, stock dividends, or similar transactions.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 9pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(2)</TD><TD STYLE="text-align: justify">Estimated in accordance with Rule 457(c) solely for purposes of calculating the registration fee.
The maximum price per Security and the maximum aggregate offering price are based on the average of the&nbsp;$&nbsp;0.13 (high)
and&nbsp;$0.10&nbsp;(low) sale price of the Registrant's as reported on the OTC Markets on January 13, 2021 which date is within
five business days prior to filing this Registration Statement.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 9pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(3)</TD><TD STYLE="text-align: justify">The Registrant formerly filed S-1 registration statements on August 31, 2018 (file number 333-227162)
and on November 13, 2020 (file number 333-250069). Neither registration statement was made effective. No securities were sold pursuant
to either registration statement. The Registrant filed Registration Withdrawal Requests respectively on January 10, 2020 and January
19, 2021. Pursuant to Rule 457(p), the Registrant hereby applies the aggregate total dollar amount of the filing fees associated
with its two prior withdrawn S-1 registrations, equaling $2,280.38 as an offset against the filing fee associated with this registration
statement.</TD></TR></TABLE>

<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: -0.5in">This Registration
Statement shall become effective upon filing in accordance with Rule 462(a) under the Securities Act.</P>

<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-indent: -0.5in">&nbsp;</P>

<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-indent: -0.5in">&nbsp;</P>

<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-indent: -0.5in">&nbsp;</P>


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<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>INTRODUCTION</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">Pursuant to General Instruction E of Form S-8,
the Registrant is filing this Registration Statement with respect to the issuance of ten million shares of its common stock, $0.0001
par value per share (the &#8220;Common Stock&#8221;), under the Registrant&#8217;s Equity Incentive Plan.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>PART I</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 24pt; text-align: center"><B>INFORMATION REQUIRED IN THE SECTION
10(a) PROSPECTUS</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"><B>Item 1. Plan Information.</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">The documents containing
the information specified in Part I of Form S-8 will be sent or given to the individuals who participate in the Equity Incentive
Plan in accordance with Rule 428(b)(1) of the Securities Act. Such documents are not required to be, and are not, filed with the
Securities and Exchange Commission (the &#8220;Commission&#8221;), either as part of this Registration Statement or as a prospectus
or prospectus supplement pursuant to Rule 424 of the Securities Act, but constitute (along with the documents incorporated by reference
into this Registration Statement pursuant to Item 3 of Part II hereof) a prospectus that meets the requirements of Section 10(a)
of the Securities Act.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"><B>Item 2. Registrant Information and Employee Plan Annual Information.</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">Upon written or oral request,
any of the documents incorporated by reference in Item 3 of Part II of this Registration Statement (which documents are incorporated
by reference in the Section 10(a) prospectus), other documents required to be delivered to eligible employees pursuant to Rule
428(b) or additional information about the Registrant&#8217;s Equity Incentive Plan are available without charge by contacting:
Secretary, SPYR, Inc., 4643 South Ulster Street, Ste. 1510, Denver, CO 80237.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>


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<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>PART&nbsp;II</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center"><B>INFORMATION REQUIRED IN REGISTRATION
STATEMENT</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt"><B>Item 3. Incorporation of Documents by Reference.</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">The following documents
which have been filed (other than filings or portions of filings that are furnished under applicable SEC rules rather than filed)
by the Registrant with the Commission pursuant to the Securities Exchange Act of 1934, as amended (the &#8220;Exchange Act&#8221;),
are incorporated by reference herein and shall be deemed to be a part hereof:</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Registrant&#8217;s Annual Report on Form 10-K for the fiscal year ended December 31, 2019, filed with the Commission on March 31,
2020;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Our
Quarterly Report on Form 10-Q for the quarter ended March 31, 2020 filed with the SEC on May 15, 2020, Quarterly Report on Form
10-Q for the quarter ended June 30, 2020 filed on August 14, 2020 and Quarterly Report on Form 10-Q for the quarter ended September
30, 2020 filed on November 16, 2020;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Our
Current Reports on Form 8-K filed with the SEC on April 27, 2020, October 9, 2020, November 5, 2020, December 1, 2020, and December
28, 2020.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
description of the Common Stock which is contained in registration statements filed under the Securities Act of 1933, as amended
(&quot;Securities Act&quot;), including any amendment or report filed for the purpose of updating such description.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">In addition, all
documents subsequently filed (other than filings or portions of filings that are furnished under applicable Commission rules rather
than filed) by the Registrant with the Commission pursuant to Sections 13(a), 13(c), 14 and 15(d) of the Exchange Act, prior to
the filing of a post-effective amendment to this Registration Statement, which indicates that all securities offered have been
sold or which deregisters all securities then remaining unsold, shall be deemed to be incorporated by reference in this Registration
Statement and made a part hereof from their respective dates of filing (such documents, and the documents enumerated above, being
hereinafter referred to as &#8220;Incorporated Documents&#8221;).</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">Any statement contained
in an Incorporated Document shall be deemed to be modified or superseded for purposes of this Registration Statement to the extent
that a statement contained herein or in any other subsequently filed Incorporated Document modifies or supersedes such statement.
Any such statement so modified or superseded shall not be deemed, except as so modified or superseded, to constitute a part of
this Registration Statement.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">Under no circumstances
will any information filed under current Item 2.02 or 7.01 of Form 8-K be deemed incorporated herein by reference unless such Form
8-K expressly provides to the contrary.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt"><B>Item 4. Description of Securities.</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in">Not applicable.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt"><B>Item 5. Interests of Named Experts and Counsel.</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in">Not applicable.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt"><B></B></P>

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<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt"><B>Item 6. Indemnification of Directors and Officers.</B></P>




<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><U>Nevada law</U></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">Section 78.751 of the Nevada General
Corporation Laws provides as follows: &#8220;78.751 Indemnification of officers, directors, employees and agents; advance of expenses.
1. A corporation may indemnify any person who was or is a party or is threatened to be made a party to any threatened, pending
or completed action, suit or proceeding, whether civil, criminal, administrative or investigative, except an action by or in the
right of the corporation, by reason of the fact that he is or was a director, officer, employee or agent of the corporation, or
is or was serving at the request of the corporation as a director, officer, employee or agent of another corporation, partnership,
joint venture, trust or other enterprise, against expenses, including attorney's fees, judgments, fines and amounts paid in settlement
actually and reasonably incurred by him in connection with the action, suit or proceeding if he acted in good faith and in a manner
which he reasonably believed to be in or not opposed to the best interests of the corporation, and, with respect to any criminal
action or proceeding, had no reasonable cause to believe his conduct was unlawful. The termination of any action, suit or proceeding
by judgment, order, settlement, conviction, or upon a plea of nolo contendere or its equivalent, does not, of itself, create a
presumption that the person did not act in good faith and in a manner which he reasonably believed to be in or not opposed to the
best interests of the corporation, and that, with respect to any criminal action or proceeding, he had reasonable cause to believe
that his conduct was lawful.&#8221;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">&#8220;A corporation may indemnify any
person who was or is a party or is threatened to be made a party to any threatened, pending or completed action or suit by or in
the right of the corporation to procure a judgment in its favor by reason of the fact that he is or was a director, officer, employee
or agent of the corporation, or is or was serving at the request of the corporation as a director, officer, employee or agent of
another corporation, partnership, joint venture, trust or other enterprise against expenses, including amounts paid in settlement
and attorneys' fees actually and reasonably incurred by him in connection with the defense or settlement of the action or suit
if he acted in good faith and in a manner which he reasonably believed to be in or not opposed to the best interests of the corporation.&#8221;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">&#8220;Indemnification may not be made
for any claim, issue or matter as to which such a person has been adjudged by a court of competent jurisdiction, after exhaustion
of all appeals therefrom, to be liable to the corporation or for amounts paid in settlement to the corporation, unless and only
to the extent that the court in which the action or suit was brought or other court of competent jurisdiction determines upon application
that in view of all the circumstances of the case, the person is fairly and reasonably entitled to indemnity for such expenses
as the court deems proper.&#8221;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">&#8220;To the extent that a director,
officer, employee or agent of a corporation has been successful on the merits or otherwise in defense of any action, suit or proceeding
referred to in subsections 1 and 2, or in defense of any claim, issue or matter therein, he must be indemnified by the corporation
against expenses, including attorneys' fees, actually and reasonably incurred by him in connection with the defense.&#8221;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">&#8220;Any indemnification under
subsections 1 and 2, unless ordered by a court or advanced pursuant to subsection 5, must be made by the corporation only as
authorized in the specific case upon a determination that indemnification of the director, officer, employee or agent is
proper in the circumstances. The determination must be made: (a) By the stockholders: (b) By the board of directors by
majority vote of a quorum consisting of directors who were not parties to act, suit or proceeding; (c) If a majority vote of
a quorum consisting of directors who were not parties to the act, suit or proceeding so orders, by independent legal counsel
in a written opinion; or (d) If a quorum consisting of directors who were not parties to the action, suit or proceeding
cannot be obtained, by independent legal counsel in a written opinion. The Articles of Incorporation, the Bylaws or an
agreement made by the corporation may provide that the expenses of officers and directors incurred in defending a civil or
criminal, suit or proceeding must be paid by the corporation as they are incurred and in advance of the final disposition of
the action, suit or proceeding, upon receipt of an undertaking by or on behalf of the director or officer to repay the amount
if it is ultimately determined by a court of competent jurisdiction that he is not entitled to be indemnified by corporation.
The provisions of this subsection do not affect any rights to advancement of expenses to which corporate personnel other than
the directors or officers may be entitled under any contract or otherwise by law.&#8221;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"></P>

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<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">&#8220;The indemnification and advancement
of expenses authorized in or ordered by a court pursuant to this section: (a) Does not exclude any other rights to which a person
seeking indemnification or advancement of expenses may be entitled under the articles of incorporation or any bylaw, agreement,
vote of stockholders or disinterested directors or otherwise, for either an action in his official capacity or an action in another
capacity while holding his office, except that indemnification, unless ordered by a court pursuant to subsection 2 or for the advancement
of expenses made pursuant to subsection 5, may not be made to or on behalf of any director or officer if a final adjudication establishes
that his act or omissions involved intentional misconduct, fraud or a knowing violation of the law and was material to the cause
of action. (b) Continues for a person who has ceased to be a director, officer, employee or agent and inures to the benefit of
the heirs, executors and administrators of such a person. Insofar as indemnification for liabilities arising under the Securities
Act may be permitted to directors, officers and controlling persons of the Registrant pursuant to the foregoing provisions, or
otherwise.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">(2) That, for the purpose of determining
any liability under the Securities Act of 1933, each such post-effective amendment shall be deemed to be a new registration statement
relating to the securities offered therein, and the offering of such securities at that time shall be deemed to be the initial
bona fide offering thereof.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">(3) To remove from registration by means
of a post-effective amendment any of the securities being registered which remain unsold at the termination of the offering.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">(4) Insofar as indemnification for liabilities
arising under the Securities Act of 1933 may be permitted to directors, officers and controlling persons of the registrant pursuant
to the foregoing provisions, or otherwise, the registrant has been advised that in the opinion of the Securities and Exchange Commission
such indemnification is against public policy as expressed in the Act and is, therefore, unenforceable. In the event that a claim
for indemnification against such liabilities (other than the payment by the registrant of expenses incurred or paid by a director,
officer or controlling person of the registrant in the successful defense of any action, suit or proceeding) is asserted by such
director, officer or controlling person in connection with the securities being registered, the registrant will, unless in the
opinion of its counsel the matter has been settled by controlling precedent, submit to a court of appropriate jurisdiction the
question whether such indemnification by it is against public policy as expressed in the Act and will be governed by the final
adjudication of such issue.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">(5) Each Prospectus filed pursuant to
Rule 424(b) as part of a registration statement relating to an offering, other than registration statements relying on Rule 430B
or other than Prospectuses filed in reliance on Rule 430A, shall be deemed to be part of and included in the registration statement
as of the date it is first used after effectiveness. Provided, however, that no statement made in a registration statement or Prospectus
that is part of the registration statement or made in a document incorporated or deemed incorporated by reference into the registration
statement or Prospectus that is part of the registration statement will, as to a purchaser with a time of contract of sale prior
to such first use, supersede or modify any statement that was made in the registration statement or Prospectus that was part of
the registration statement or made in any such document immediately prior to such date of first use.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"></P>

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<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">(6) The undersigned registrant
undertakes that in a primary offering of securities of the undersigned registrant pursuant to this registration statement,
regardless of the underwriting method used to sell the securities to the purchaser, if the securities are offered or sold to
such purchaser by means of any of the following communications, the undersigned registrant will be a seller to the purchaser
and will be considered to offer or sell such securities to such purchaser:</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">(i) Any preliminary Prospectus or Prospectus
of the undersigned registrant relating to the offering required to be filed pursuant to Rule 424 (&sect; 230.424 of this chapter);</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">(ii) Any free writing Prospectus relating
to the offering prepared by or on behalf of the undersigned registrant or used or referred to by the undersigned registrant;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">(iii) The portion of any other free
writing Prospectus relating to the offering containing material information about the undersigned registrant or its securities
provided by or on behalf of the undersigned registrant; and</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">(iv) Any other communication that is
an offer in the offering made by the undersigned registrant to the purchaser.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">Company Articles and By Laws.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">SECTION 10.1. General. The Corporation
shall provide indemnification to its directors and officers to the maximum extent permitted by Nevada law. The Corporation shall
defend its directors and officers in connection with any demands, claims or actions brought against them as a result of or in connection
with their status as a director or officer of the Corporation with counsel selected by any such director or officer and reasonably
acceptable to the Corporation. The Corporation shall pay advancements of all expenses, including but not limited to legal retainers
and fees, costs of suit, and expert witness fees, in advance of the final disposition of the action, suit, or proceedings, including
those in connection with any appeal(s), upon receipt of an undertaking by or on behalf of the director or officer to repay the
amount even if it is ultimately determined that he or she is not entitled to be indemnified by the corporation.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">SECTION 10.2. Indemnity Not Exclusive.
The indemnification and advancement of expenses authorized herein or ordered by a court shall not exclude any other rights to which
a person seeking indemnification or advancement of expenses may be entitled under the Articles of Incorporation, an agreement,
a vote of stockholders or disinterested directors or otherwise, for either an action in his or her official capacity or an action
in another capacity while holding his or her office, except that indemnification, unless ordered by a court pursuant to or for
the advancement of expenses, may not be made to or on behalf of any director or officer if a final adjudication establishes that
his or her acts or omissions involved intentional misconduct, fraud or a knowing violation of the law and was material to the cause
of action. The indemnification and advancement of expenses shall continue for a person who has ceased to be a director, officer,
employee or agent and inures to the benefit of the heirs, executors and administrators of such a person.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt"><B>Item 7. Exemption from Registration Claimed.</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in">Not applicable.</P>


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<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt"><B>Item 8. Exhibits.</B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 11pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR>
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center; border-bottom: Black 0.5pt solid">Exhibit<BR>
        Number</P></TD>
    <TD STYLE="vertical-align: bottom; width: 84%; padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="border-bottom: Black 0.5pt solid; font: 11pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt; text-align: center">Description
        of Exhibit</P></TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-bottom: 12pt; padding-left: 5.4pt; text-align: center"><A HREF="http://www.sec.gov/Archives/edgar/data/829325/000126246315000225/exh31.htm">3(i)</A></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-bottom: 12pt; padding-left: 5.4pt">Articles of Incorporation<SUP>(1)</SUP></TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-bottom: 12pt; padding-left: 5.4pt; text-align: center"><A HREF="http://www.sec.gov/Archives/edgar/data/829325/000126246317000320/ex33.htm">3(i)(a)</A></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-bottom: 12pt; padding-left: 5.4pt">Amendment to Articles<SUP>(1)</SUP></TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-bottom: 12pt; padding-left: 5.4pt; text-align: center"><A HREF="http://www.sec.gov/Archives/edgar/data/829325/000126246314000841/ex3ii.htm">3(i)(e)</A></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-bottom: 12pt; padding-left: 5.4pt">By Laws<SUP>(1)</SUP></TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-bottom: 12pt; padding-left: 5.4pt; text-align: center"><A HREF="ex4.htm" STYLE="-sec-extract: exhibit">4</A></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-bottom: 12pt; padding-left: 5.4pt">Equity Incentive Plan*</TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-bottom: 12pt; padding-left: 5.4pt; text-align: center"><A HREF="ex5.htm" STYLE="-sec-extract: exhibit">5.1</A></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-bottom: 12pt; padding-left: 5.4pt">Legal Opinion of Mailander Law Office, Inc.*</TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-bottom: 12pt; padding-left: 5.4pt; text-align: center"><A HREF="ex231.htm" STYLE="-sec-extract: exhibit">23.1</A></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-bottom: 12pt; padding-left: 5.4pt">Consent of Independent Registered Public Accounting Firm.*</TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-bottom: 12pt; padding-left: 5.4pt; text-align: center"><A HREF="ex5.htm" STYLE="-sec-extract: exhibit">23.2</A></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-bottom: 12pt; padding-left: 5.4pt">Consent of Mailander Law Office, Inc. (included in its opinion filed as Exhibit 5.1 in this Registration Statement).*</TD></TR>
</TABLE>
<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-size: 11pt">* Filed herewith</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-size: 11pt">(1)&nbsp;Incorporated
by reference.&nbsp;</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"><B>Item 9. Undertakings.</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>Subsequent
Disclosure</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">The undersigned
registrant hereby undertakes:</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(1)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;To
file, during any period in which offers or sales are being made, a post-effective amendment to this registration statement:</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt 1in; text-align: justify; text-indent: 0.5in">(i)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;To
include any prospectus required by Section 10(a)(3) of the Securities Act;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt 1in; text-align: justify; text-indent: 0.5in">(ii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;To
reflect in the prospectus any facts or events arising after the effective date of this registration statement (or the most recent
post-effective amendment thereof) which, individually or in the aggregate, represent a fundamental change in the information set
forth in the registration statement;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt 1in; text-align: justify; text-indent: 0.5in">(iii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;To
include any material information with respect to the plan of distribution not previously disclosed in the registration statement
or any material change to such information in the registration statement.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">Provided, however,
that paragraphs (a)(1)(i) and (a)(1)(ii) shall not apply if the information required to be included in a post-effective amendment
by these paragraphs is contained in reports filed with or furnished to the Commission by the registrant pursuant to Section 13
or Section 15(d) of the Exchange Act that are incorporated by reference in the registration statement.</P>


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<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(2)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;That,
for the purpose of determining any liability under the Securities Act, each such post-effective amendment shall be deemed to be
a new registration statement relating to the securities offered therein, and the offering of such securities at that time shall
be deemed to be the initial bona fide offering thereof.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(3)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;To
remove from registration by means of a post-effective amendment any of the securities being registered which remain unsold at the
termination of the offering.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>Incorporation
by Reference</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">The undersigned
registrant hereby undertakes that, for purposes of determining any liability under the Securities Act, each filing of the registrant&#8217;s
annual report pursuant to Section 13(a) or Section 15(d) of the Exchange Act (and, where applicable, each filing of an employee
benefit plan&#8217;s annual report pursuant to Section 15(d) of the Exchange Act), that is incorporated by reference in the registration
statement shall be deemed to be a new registration statement relating to the securities offered therein, and the offering of such
securities at that time shall be deemed to be the initial bona fide offering thereof.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>Commission
Position on Indemnification</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">Insofar as indemnification
for liabilities arising under the Securities Act may be permitted to directors, officers and controlling persons of the registrant
pursuant to the foregoing provisions, or otherwise, the registrant has been advised that in the opinion of the Securities and Exchange
Commission such indemnification is against public policy as expressed in the Securities Act and is, therefore, unenforceable. In
the event that a claim for indemnification against such liabilities (other than the payment by the registrant of expenses incurred
or paid by a director, officer or controlling person of the registrant in the successful defense of any action, suit or proceeding)
is asserted by such director, officer or controlling person in connection with the securities being registered, the registrant
will, unless in the opinion of its counsel the matter has been settled by controlling precedent, submit to a court of appropriate
jurisdiction the question whether such indemnification by it is against public policy as expressed in the Securities Act and will
be governed by the final adjudication of such issue.</P>


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<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center"><B>SIGNATURES</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">Pursuant to the
requirements of the Securities Act of 1933, as amended, the registrant certifies that it has reasonable grounds to believe that
it meets all of the requirements for filing on Form&nbsp;S-8 and has duly caused this registration statement to be signed on its
behalf by the undersigned, thereunto duly authorized, in the City of Escondido, State of California, on January 19, 2021.</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 11pt"><B>&nbsp;</B></FONT></TD>
    <TD COLSPAN="2" STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 11pt"><B>SPYR, INC.</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; width: 51%"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; width: 5%"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; width: 44%"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 11pt">By:</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 11pt">/s/ James
    R. Thompson</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 11pt">James R. Thompson</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 11pt">Chief Executive Officer</FONT></TD></TR>
</TABLE>

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<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">Pursuant to the requirements of the Securities
Act of 1933, as amended, this registration statement has been signed by the following persons in the capacities and on the dates
indicated.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 11pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
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        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center; border-bottom: Black 0.5pt solid">Signature</P></TD>
    <TD STYLE="width: 44%; padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center; border-bottom: Black 0.5pt solid">Title</P></TD>
    <TD STYLE="width: 23%; padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center; border-bottom: Black 0.5pt solid">Date</P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0.3pt 0 0"><I><U>/s/ Tim Matula&#9;</U></I></P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">Tim Matula</P></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">Director</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">January 19, 2021</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"><U>/<I>s/ John Formichella</I>&#9;</U></P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">John Formichella</P></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">Director</P></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">January 19, 2021</P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"><I><U>/s/Tad Mailander&#9;</U></I></P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">Tad Mailander</P></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">Director</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">January 19, 2021</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
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[{"type": "S-8", "sequence": "1", "filename": "forms8.htm", "description": "FORM S-8", "secsgml_size_bytes": 59092}]
{"company-data": {"conformed-name": "SPYR, Inc.", "cik": "0000829325", "assigned-sic": "5810", "irs-number": "752636283", "state-of-incorporation": "NV", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "S-8", "act": "33", "file-number": "333-252211", "film-number": "21535394"}, "business-address": {"street1": "4643 S ULSTER ST. SUITE 1510", "city": "DENVER", "state": "CO", "zip": "80237", "phone": "303-991-8000"}, "mail-address": {"street1": "4643 S ULSTER ST. SUITE 1510", "city": "DENVER", "state": "CO", "zip": "80237"}, "former-company": [{"former-conformed-name": "EAT AT JOES LTD", "date-changed": "19961125"}, {"former-conformed-name": "CONCEPTUALISTICS INC", "date-changed": "19961122"}]}
As Filed With the Securities and Exchange Commission
on January 19, 2021
Registration
No. 333-
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
_____________________
FORM S-8
REGISTRATION STATEMENT
UNDER
THE SECURITIES ACT OF 1933
_____________________
SPYR, INC.
(Exact name of registrant as specified in
its charter)
_____________________
Nevada
(State or other jurisdiction of
incorporation or organization)
4643 South Ulster Street, Ste. 1510
Denver, CO 80237
(Address,
        including zip code, of Principal Executive Offices)
75-2636283
(I.R.S. Employer
Identification Number)
_____________________
SPYR, Inc.
Equity Incentive Plan
(Full title of the plan)
_____________________
Registered Agents, Inc.
401 Ryland Street, Ste. 200-A
Reno, NV 89502
Telephone: (775) 401-6800
(Name and address of agent for service)
_____________________
Indicate by check mark whether the registrant is a large
accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller reporting company. See the definitions of "large
accelerated filer," "accelerated filer" and "smaller reporting company" in Rule 12b-2 of the Exchange
Act.
Large accelerated filer
[_]
Accelerated filer
[_]
Non-accelerated filer
[_]
Smaller reporting company
[X]
___________________________
1
CALCULATION OF REGISTRATION FEE
Title of Securities to
be Registered
Amount to be
Registered (1)
Proposed Maximum
Offering Price
Per Share (2)
Proposed Maximum
Aggregate
Offering Price (2)
Amount of
Registration
Fee (2)(3)
Common Stock, $0.0001 par value
10,000,000
$0.12
$1,200,000
$130.92
(1)
This registration statement (this "Registration Statement") is being filed for purposes
of registering ten million shares of common stock of SPYR, Inc. (the "Registrant"), issuable pursuant to our Equity
Incentive Plan, as the same may be amended or restated (the "Equity Incentive Plan"). Pursuant to Rule 416(a) under
the Securities Act of 1933, as amended (the "Securities Act"), this Registration Statement also covers an indeterminate
number of shares that may be offered or issued as a result of stock splits, stock dividends, or similar transactions.
(2)
Estimated in accordance with Rule 457(c) solely for purposes of calculating the registration fee.
The maximum price per Security and the maximum aggregate offering price are based on the average of the $ 0.13 (high)
and $0.10 (low) sale price of the Registrant's as reported on the OTC Markets on January 13, 2021 which date is within
five business days prior to filing this Registration Statement.
(3)
The Registrant formerly filed S-1 registration statements on August 31, 2018 (file number 333-227162)
and on November 13, 2020 (file number 333-250069). Neither registration statement was made effective. No securities were sold pursuant
to either registration statement. The Registrant filed Registration Withdrawal Requests respectively on January 10, 2020 and January
19, 2021. Pursuant to Rule 457(p), the Registrant hereby applies the aggregate total dollar amount of the filing fees associated
with its two prior withdrawn S-1 registrations, equaling $2,280.38 as an offset against the filing fee associated with this registration
statement.
This Registration
Statement shall become effective upon filing in accordance with Rule 462(a) under the Securities Act.
2
INTRODUCTION
Pursuant to General Instruction E of Form S-8,
the Registrant is filing this Registration Statement with respect to the issuance of ten million shares of its common stock, $0.0001
par value per share (the "Common Stock"), under the Registrant's Equity Incentive Plan.
PART I
INFORMATION REQUIRED IN THE SECTION
10(a) PROSPECTUS
Item 1. Plan Information.
The documents containing
the information specified in Part I of Form S-8 will be sent or given to the individuals who participate in the Equity Incentive
Plan in accordance with Rule 428(b)(1) of the Securities Act. Such documents are not required to be, and are not, filed with the
Securities and Exchange Commission (the "Commission"), either as part of this Registration Statement or as a prospectus
or prospectus supplement pursuant to Rule 424 of the Securities Act, but constitute (along with the documents incorporated by reference
into this Registration Statement pursuant to Item 3 of Part II hereof) a prospectus that meets the requirements of Section 10(a)
of the Securities Act.
Item 2. Registrant Information and Employee Plan Annual Information.
Upon written or oral request,
any of the documents incorporated by reference in Item 3 of Part II of this Registration Statement (which documents are incorporated
by reference in the Section 10(a) prospectus), other documents required to be delivered to eligible employees pursuant to Rule
428(b) or additional information about the Registrant's Equity Incentive Plan are available without charge by contacting:
Secretary, SPYR, Inc., 4643 South Ulster Street, Ste. 1510, Denver, CO 80237.
3
PART II
INFORMATION REQUIRED IN REGISTRATION
STATEMENT
Item 3. Incorporation of Documents by Reference.
The following documents
which have been filed (other than filings or portions of filings that are furnished under applicable SEC rules rather than filed)
by the Registrant with the Commission pursuant to the Securities Exchange Act of 1934, as amended (the "Exchange Act"),
are incorporated by reference herein and shall be deemed to be a part hereof:
(a)       The
Registrant's Annual Report on Form 10-K for the fiscal year ended December 31, 2019, filed with the Commission on March 31,
2020;
(b)       Our
Quarterly Report on Form 10-Q for the quarter ended March 31, 2020 filed with the SEC on May 15, 2020, Quarterly Report on Form
10-Q for the quarter ended June 30, 2020 filed on August 14, 2020 and Quarterly Report on Form 10-Q for the quarter ended September
30, 2020 filed on November 16, 2020;
(c)       Our
Current Reports on Form 8-K filed with the SEC on April 27, 2020, October 9, 2020, November 5, 2020, December 1, 2020, and December
28, 2020.
(d)       The
description of the Common Stock which is contained in registration statements filed under the Securities Act of 1933, as amended
("Securities Act"), including any amendment or report filed for the purpose of updating such description.
In addition, all
documents subsequently filed (other than filings or portions of filings that are furnished under applicable Commission rules rather
than filed) by the Registrant with the Commission pursuant to Sections 13(a), 13(c), 14 and 15(d) of the Exchange Act, prior to
the filing of a post-effective amendment to this Registration Statement, which indicates that all securities offered have been
sold or which deregisters all securities then remaining unsold, shall be deemed to be incorporated by reference in this Registration
Statement and made a part hereof from their respective dates of filing (such documents, and the documents enumerated above, being
hereinafter referred to as "Incorporated Documents").
Any statement contained
in an Incorporated Document shall be deemed to be modified or superseded for purposes of this Registration Statement to the extent
that a statement contained herein or in any other subsequently filed Incorporated Document modifies or supersedes such statement.
Any such statement so modified or superseded shall not be deemed, except as so modified or superseded, to constitute a part of
this Registration Statement.
Under no circumstances
will any information filed under current Item 2.02 or 7.01 of Form 8-K be deemed incorporated herein by reference unless such Form
8-K expressly provides to the contrary.
Item 4. Description of Securities.
Not applicable.
Item 5. Interests of Named Experts and Counsel.
Not applicable.
4
Item 6. Indemnification of Directors and Officers.
Nevada law
Section 78.751 of the Nevada General
Corporation Laws provides as follows: "78.751 Indemnification of officers, directors, employees and agents; advance of expenses.
1. A corporation may indemnify any person who was or is a party or is threatened to be made a party to any threatened, pending
or completed action, suit or proceeding, whether civil, criminal, administrative or investigative, except an action by or in the
right of the corporation, by reason of the fact that he is or was a director, officer, employee or agent of the corporation, or
is or was serving at the request of the corporation as a director, officer, employee or agent of another corporation, partnership,
joint venture, trust or other enterprise, against expenses, including attorney's fees, judgments, fines and amounts paid in settlement
actually and reasonably incurred by him in connection with the action, suit or proceeding if he acted in good faith and in a manner
which he reasonably believed to be in or not opposed to the best interests of the corporation, and, with respect to any criminal
action or proceeding, had no reasonable cause to believe his conduct was unlawful. The termination of any action, suit or proceeding
by judgment, order, settlement, conviction, or upon a plea of nolo contendere or its equivalent, does not, of itself, create a
presumption that the person did not act in good faith and in a manner which he reasonably believed to be in or not opposed to the
best interests of the corporation, and that, with respect to any criminal action or proceeding, he had reasonable cause to believe
that his conduct was lawful."
"A corporation may indemnify any
person who was or is a party or is threatened to be made a party to any threatened, pending or completed action or suit by or in
the right of the corporation to procure a judgment in its favor by reason of the fact that he is or was a director, officer, employee
or agent of the corporation, or is or was serving at the request of the corporation as a director, officer, employee or agent of
another corporation, partnership, joint venture, trust or other enterprise against expenses, including amounts paid in settlement
and attorneys' fees actually and reasonably incurred by him in connection with the defense or settlement of the action or suit
if he acted in good faith and in a manner which he reasonably believed to be in or not opposed to the best interests of the corporation."
"Indemnification may not be made
for any claim, issue or matter as to which such a person has been adjudged by a court of competent jurisdiction, after exhaustion
of all appeals therefrom, to be liable to the corporation or for amounts paid in settlement to the corporation, unless and only
to the extent that the court in which the action or suit was brought or other court of competent jurisdiction determines upon application
that in view of all the circumstances of the case, the person is fairly and reasonably entitled to indemnity for such expenses
as the court deems proper."
"To the extent that a director,
officer, employee or agent of a corporation has been successful on the merits or otherwise in defense of any action, suit or proceeding
referred to in subsections 1 and 2, or in defense of any claim, issue or matter therein, he must be indemnified by the corporation
against expenses, including attorneys' fees, actually and reasonably incurred by him in connection with the defense."
"Any indemnification under
subsections 1 and 2, unless ordered by a court or advanced pursuant to subsection 5, must be made by the corporation only as
authorized in the specific case upon a determination that indemnification of the director, officer, employee or agent is
proper in the circumstances. The determination must be made: (a) By the stockholders: (b) By the board of directors by
majority vote of a quorum consisting of directors who were not parties to act, suit or proceeding; (c) If a majority vote of
a quorum consisting of directors who were not parties to the act, suit or proceeding so orders, by independent legal counsel
in a written opinion; or (d) If a quorum consisting of directors who were not parties to the action, suit or proceeding
cannot be obtained, by independent legal counsel in a written opinion. The Articles of Incorporation, the Bylaws or an
agreement made by the corporation may provide that the expenses of officers and directors incurred in defending a civil or
criminal, suit or proceeding must be paid by the corporation as they are incurred and in advance of the final disposition of
the action, suit or proceeding, upon receipt of an undertaking by or on behalf of the director or officer to repay the amount
if it is ultimately determined by a court of competent jurisdiction that he is not entitled to be indemnified by corporation.
The provisions of this subsection do not affect any rights to advancement of expenses to which corporate personnel other than
the directors or officers may be entitled under any contract or otherwise by law."
5
"The indemnification and advancement
of expenses authorized in or ordered by a court pursuant to this section: (a) Does not exclude any other rights to which a person
seeking indemnification or advancement of expenses may be entitled under the articles of incorporation or any bylaw, agreement,
vote of stockholders or disinterested directors or otherwise, for either an action in his official capacity or an action in another
capacity while holding his office, except that indemnification, unless ordered by a court pursuant to subsection 2 or for the advancement
of expenses made pursuant to subsection 5, may not be made to or on behalf of any director or officer if a final adjudication establishes
that his act or omissions involved intentional misconduct, fraud or a knowing violation of the law and was material to the cause
of action. (b) Continues for a person who has ceased to be a director, officer, employee or agent and inures to the benefit of
the heirs, executors and administrators of such a person. Insofar as indemnification for liabilities arising under the Securities
Act may be permitted to directors, officers and controlling persons of the Registrant pursuant to the foregoing provisions, or
otherwise.
(2) That, for the purpose of determining
any liability under the Securities Act of 1933, each such post-effective amendment shall be deemed to be a new registration statement
relating to the securities offered therein, and the offering of such securities at that time shall be deemed to be the initial
bona fide offering thereof.
(3) To remove from registration by means
of a post-effective amendment any of the securities being registered which remain unsold at the termination of the offering.
(4) Insofar as indemnification for liabilities
arising under the Securities Act of 1933 may be permitted to directors, officers and controlling persons of the registrant pursuant
to the foregoing provisions, or otherwise, the registrant has been advised that in the opinion of the Securities and Exchange Commission
such indemnification is against public policy as expressed in the Act and is, therefore, unenforceable. In the event that a claim
for indemnification against such liabilities (other than the payment by the registrant of expenses incurred or paid by a director,
officer or controlling person of the registrant in the successful defense of any action, suit or proceeding) is asserted by such
director, officer or controlling person in connection with the securities being registered, the registrant will, unless in the
opinion of its counsel the matter has been settled by controlling precedent, submit to a court of appropriate jurisdiction the
question whether such indemnification by it is against public policy as expressed in the Act and will be governed by the final
adjudication of such issue.
(5) Each Prospectus filed pursuant to
Rule 424(b) as part of a registration statement relating to an offering, other than registration statements relying on Rule 430B
or other than Prospectuses filed in reliance on Rule 430A, shall be deemed to be part of and included in the registration statement
as of the date it is first used after effectiveness. Provided, however, that no statement made in a registration statement or Prospectus
that is part of the registration statement or made in a document incorporated or deemed incorporated by reference into the registration
statement or Prospectus that is part of the registration statement will, as to a purchaser with a time of contract of sale prior
to such first use, supersede or modify any statement that was made in the registration statement or Prospectus that was part of
the registration statement or made in any such document immediately prior to such date of first use.
6
(6) The undersigned registrant
undertakes that in a primary offering of securities of the undersigned registrant pursuant to this registration statement,
regardless of the underwriting method used to sell the securities to the purchaser, if the securities are offered or sold to
such purchaser by means of any of the following communications, the undersigned registrant will be a seller to the purchaser
and will be considered to offer or sell such securities to such purchaser:
(i) Any preliminary Prospectus or Prospectus
of the undersigned registrant relating to the offering required to be filed pursuant to Rule 424 (§ 230.424 of this chapter);
(ii) Any free writing Prospectus relating
to the offering prepared by or on behalf of the undersigned registrant or used or referred to by the undersigned registrant;
(iii) The portion of any other free
writing Prospectus relating to the offering containing material information about the undersigned registrant or its securities
provided by or on behalf of the undersigned registrant; and
(iv) Any other communication that is
an offer in the offering made by the undersigned registrant to the purchaser.
Company Articles and By Laws.
SECTION 10.1. General. The Corporation
shall provide indemnification to its directors and officers to the maximum extent permitted by Nevada law. The Corporation shall
defend its directors and officers in connection with any demands, claims or actions brought against them as a result of or in connection
with their status as a director or officer of the Corporation with counsel selected by any such director or officer and reasonably
acceptable to the Corporation. The Corporation shall pay advancements of all expenses, including but not limited to legal retainers
and fees, costs of suit, and expert witness fees, in advance of the final disposition of the action, suit, or proceedings, including
those in connection with any appeal(s), upon receipt of an undertaking by or on behalf of the director or officer to repay the
amount even if it is ultimately determined that he or she is not entitled to be indemnified by the corporation.
SECTION 10.2. Indemnity Not Exclusive.
The indemnification and advancement of expenses authorized herein or ordered by a court shall not exclude any other rights to which
a person seeking indemnification or advancement of expenses may be entitled under the Articles of Incorporation, an agreement,
a vote of stockholders or disinterested directors or otherwise, for either an action in his or her official capacity or an action
in another capacity while holding his or her office, except that indemnification, unless ordered by a court pursuant to or for
the advancement of expenses, may not be made to or on behalf of any director or officer if a final adjudication establishes that
his or her acts or omissions involved intentional misconduct, fraud or a knowing violation of the law and was material to the cause
of action. The indemnification and advancement of expenses shall continue for a person who has ceased to be a director, officer,
employee or agent and inures to the benefit of the heirs, executors and administrators of such a person.
Item 7. Exemption from Registration Claimed.
Not applicable.
7
Item 8. Exhibits.
Exhibit
Number
Description
        of Exhibit
3(i)
Articles of Incorporation
(1)
3(i)(a)
Amendment to Articles
(1)
3(i)(e)
By Laws
(1)
4
Equity Incentive Plan*
5.1
Legal Opinion of Mailander Law Office, Inc.*
23.1
Consent of Independent Registered Public Accounting Firm.*
23.2
Consent of Mailander Law Office, Inc. (included in its opinion filed as Exhibit 5.1 in this Registration Statement).*
* Filed herewith
(1) Incorporated
by reference.
Item 9. Undertakings.
(a)
Subsequent
Disclosure
The undersigned
registrant hereby undertakes:
(1)       To
file, during any period in which offers or sales are being made, a post-effective amendment to this registration statement:
(i)       To
include any prospectus required by Section 10(a)(3) of the Securities Act;
(ii)       To
reflect in the prospectus any facts or events arising after the effective date of this registration statement (or the most recent
post-effective amendment thereof) which, individually or in the aggregate, represent a fundamental change in the information set
forth in the registration statement;
(iii)       To
include any material information with respect to the plan of distribution not previously disclosed in the registration statement
or any material change to such information in the registration statement.
Provided, however,
that paragraphs (a)(1)(i) and (a)(1)(ii) shall not apply if the information required to be included in a post-effective amendment
by these paragraphs is contained in reports filed with or furnished to the Commission by the registrant pursuant to Section 13
or Section 15(d) of the Exchange Act that are incorporated by reference in the registration statement.
8
(2)       That,
for the purpose of determining any liability under the Securities Act, each such post-effective amendment shall be deemed to be
a new registration statement relating to the securities offered therein, and the offering of such securities at that time shall
be deemed to be the initial bona fide offering thereof.
(3)       To
remove from registration by means of a post-effective amendment any of the securities being registered which remain unsold at the
termination of the offering.
(b)
Incorporation
by Reference
The undersigned
registrant hereby undertakes that, for purposes of determining any liability under the Securities Act, each filing of the registrant's
annual report pursuant to Section 13(a) or Section 15(d) of the Exchange Act (and, where applicable, each filing of an employee
benefit plan's annual report pursuant to Section 15(d) of the Exchange Act), that is incorporated by reference in the registration
statement shall be deemed to be a new registration statement relating to the securities offered therein, and the offering of such
securities at that time shall be deemed to be the initial bona fide offering thereof.
(c)
Commission
Position on Indemnification
Insofar as indemnification
for liabilities arising under the Securities Act may be permitted to directors, officers and controlling persons of the registrant
pursuant to the foregoing provisions, or otherwise, the registrant has been advised that in the opinion of the Securities and Exchange
Commission such indemnification is against public policy as expressed in the Securities Act and is, therefore, unenforceable. In
the event that a claim for indemnification against such liabilities (other than the payment by the registrant of expenses incurred
or paid by a director, officer or controlling person of the registrant in the successful defense of any action, suit or proceeding)
is asserted by such director, officer or controlling person in connection with the securities being registered, the registrant
will, unless in the opinion of its counsel the matter has been settled by controlling precedent, submit to a court of appropriate
jurisdiction the question whether such indemnification by it is against public policy as expressed in the Securities Act and will
be governed by the final adjudication of such issue.
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SIGNATURES
Pursuant to the
requirements of the Securities Act of 1933, as amended, the registrant certifies that it has reasonable grounds to believe that
it meets all of the requirements for filing on Form S-8 and has duly caused this registration statement to be signed on its
behalf by the undersigned, thereunto duly authorized, in the City of Escondido, State of California, on January 19, 2021.
SPYR, INC.
By:
/s/ James
    R. Thompson
James R. Thompson
Chief Executive Officer
Pursuant to the requirements of the Securities
Act of 1933, as amended, this registration statement has been signed by the following persons in the capacities and on the dates
indicated.
Signature
Title
Date
/s/ Tim Matula
Tim Matula
Director
January 19, 2021
/
s/ John Formichella
John Formichella
Director
January 19, 2021
/s/Tad Mailander
Tad Mailander
Director
January 19, 2021
10