RE: Director Remuneration15 Sep 2021 14:33
Donald Stewart, Chairman, said:
"Following completion of the fundraise on 23 July 2021, with approximately £10.2 million of net proceeds, Bidstack is now well capitalised to exploit the commercial opportunities it currently has and to pursue its strategy for some time to come.
"The second half of the current financial year has started well and in line with our expectations. Since the period end Bidstack has onboarded a number of new games including Nordeus' flagship football management game, Top Eleven, T-Bull's classic car driving simulation game Racing Classics PRO: Drag Race & Real Speed, Motionlab Interactive's multiplayer PDC Darts Match and Suji Games' animated simulation game Hyper Airways. We expect a number of further games to join Bidstack's roster in the second half.
"With improving visibility of the sales pipeline, we believe the Company has a strong pipeline of revenue for the second half as existing advertisers rebook with growing spend and business development efforts come to fruition.
"The Company continues to expect to deliver revenues for the year in line with market expectations. In addition, the Board has been focussed on improving gross margin and controlling the Group's total operational costs going forward, as it starts to rebalance capital deployed to reflect the shift from product development to commercialisation."