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Yes i agree. That is a lot of new shares to be issued! I do think this is one for the future though and I will be back in once the price has dropped to where i see the mcap value taking into account the new shares to be issued
By my calculation the price will go back down to under half a penny for the short to medium term. Hopefully the company will be in better shape to see it into next year.
Ouch - that’s a tough start to the day...
It was coming...
Unfortunately there's the discounted placing
it's obviously good but I think at this stage is cold hard revenue that matters most. that and showing they have their costs under control
What are people’s opinions about the amount of exposure Gfinity will be getting during this time? E sports being pushed more to those who are missing their F1 action, actual F1 drivers last and present taking part. I believe it ads credibility to esports as a whole as well as casting a spotlight that would have taken a longer time to come. Would people expect this to see an increase in value to the SP in the coming weeks as more races take place?
Results better than expected imo.
Need time to lower costs.
Business on a sounder footing.
Left out the part where they say they need to secure £2million in extra funding so looks like the derampers that were around pre the drop to .30 were right about the cash burn and a placing coming? Doesn't come as a surprise especially with the current situation now the events have been cancelled.
H1 administrative costs over £4million, cash at bank at end of period £2.4million. Usual yearly admin costs of £8million+...
I disagree. The market liked the update. These are not normal times. Esports could fill the void. Gfinity have an opportunity.
The previous sell down to 0.3p was because the market thought they could go bust. From these accounts that's unlikely now for the next 6 months of the " C19 lockdown period". Gfinity now have the opportunity to tap into this huge demand for esports and have demonstrated they are capable with F1 virtual grandprix last week and the #challengelando experience this week. I'd expect the May-July F1 races to also be cancelled which means Gfinity could extend their current agreement and also run these virtual grandprix's. They have this agreed already as a back up plan with F1. The grand national is also now virtual and is due to be aired on the BBC this weekend. It's not unreasonable to think F1 could follow suit in some capacity with Gfinity to potentially access those mass audiences. There's a chance that this weekends horse racing exposure could wet the investor appetite for esport companies like Gfinity.... It's a new ISA year next monday, most investors are at home, virtual sports suddenly in the spotlight. You can see how the interest most evolve over a short time period for the share price to rise.
Due to the limited trading time at the end of the day once the RNS was released, we had the normal spike ( to 2.1) and then consolidation at around the 1.75 level giving those who bought lower down a chance to hop off and new punters to hop on. (I also suspect that there are not many left who have not cashed out from lower down)
I'd personally expect to see it rise. Previous resistance was around the 2.3-2.4 level which is where i'd see it shortly without further news, higher next week if i'm correct on some of those aspects. With monetary generating news...Who knows..
I think they've limited the downside today. The upside is yet unknown, however there is serious potential if they get it right. They'll have one chance i feel.
GLA
What do you mean by ‘ Closing SP is 1.5p which I think is quite ridiculous, but too much noise made on twitter.’?
You think the SP should be higher?
Thought on this everyone? I would say more positive than could have been expected. The market certainly reacted, the price went to 2.10p, but there were a number of sales later on to bring it back down to 1.73p at the close.
Operational Highlights:
Continued growth in Gfinity Owned Community, with Gfinity's owned websites, GfinityEsports.com and RealSport101.com and their supporting social channels reaching more than 45 million gamers in February 2020
New programmatic advertising and brand partnership driving additional revenue streams.Delivery of third season of F1 Esports Series with all 10 F1 teams taking part. 109,000 gamers entered; 5.8 million people watch the live shows and 79% were under the age of 34
Following period end, Gfinity selected to deliver the new F1 Esports Virtual Grand Prix series to enable fans to continue
watching Formula 1 races virtually, in light of the ongoing COVID-19 situation that has impacted live events
Growth in competitive gaming entertainment content offering, including:
Creation and broadcast of Twitch Prime Crown Cup for Amazon.Season 2 of the Esports Report magazine show for HP Omen
Further contract renewals and wins:
Creation of a 'Play Book' and business case for a global esports competition to be hosted in the Middle East
Reappointed by Premier League to deliver season 2 of ePremier League
Delivery of 2k League invitational event, a first event in partnership with NBA
· Following period end, Gfinity selected to deliver the new F1 Esports Virtual Grand Prix series to enable fans to continue watching Formula 1 races virtually, in light of the ongoing COVID-19 situation that has impacted live events
· Growth in competitive gaming entertainment content offering, including:
o Creation and broadcast of Twitch Prime Crown Cup for Amazon
o Season 2 of the Esports Report magazine show for HP Omen
· Further contract renewals and wins:
o Creation of a 'Play Book' and business case for a global esports competition to be hosted in the Middle East
Reappointed by Premier League to deliver season 2 of ePremier League.Delivery of 2k League invitational event, a first event in partnership with NBA