Esports Mogul Reported Over 1 Million Registered Users Post The Addition Of 620K Users In Last 6 Weeks

Esports Mogul Reported Over 1 Million Registered Users Post The Addition Of 620K Users In Last 6 Weeks

Esports Mogul Asia Pacific Limited (ASX: ESH), an Australia-based e-sports media company from the telecommunication services sector, announced that it was successful in the acquisition of over 1 million registered users after the addition of approximately 620,000 new users over the past six weeks. The company feels delighted to have met their first significant milestone. 

As compared to the December 2018 data, there was an increase in the new users by 163%. The reason behind the rise in the user registration was the integration of new game titles in preparation for Silver Slam. With the inauguration of the tournament series, ESH reports user sign up on Mogul, who were not only excited by the prize pool of A$275,000 but also by the 16 popular game titles across PC, console and mobile platforms.

Based on these data, the company expects that they will even be successful in acquiring new users when their Asia-focused tournament series commences next month with its new partner Razer Inc.

At the same time, the company has fast-tracked its marketing activities and strategic partnership with gaming giants Razer Inc. and Southeast Asia’s largest esports organization Mineski, all supporting Mogul tournaments.

The company has further planned to work aggressively to drive the number of user acquisition and the activity level while stepping towards commercialization. The monetization features are currently under the development phase. At present, the key focus of the company is the commercialization of its operations after the acquisition of the new users.

During the last five years, the stock has generated a negative performance of 77.50%. However, in last one year, the stock gave a positive performance of 28.57%.

As per the half-year results of ESH for FY2018 which ended on 30 June 2018, the company has generated the revenue of $57,820 from its ordinary activities which was down by 6.4% as compared to the previous corresponding period. During the period, the net loss incurred by the company was $1,715,976.

The balance sheet of the company showed that there was an increase in the net asset base during the period. The company had a total current asset of $5,488,024 which increased by approximately 160% as compared to previous corresponding period due to an increase in the cash and cash equivalent. The total current liabilities during the period was $76,123. There was also an increase in the accumulated losses during the period as the company made a loss during the period. The total shareholders’ equity was worth $6,825,239.

The company used net cash of $1,099,235 in its operating activities. Here, the leading cause of cash outflow was the payment made to the suppliers and the employees.

There was a net cash inflow of $19,000 through its investing activities, where the significant cash outflow was in the form of payment for intangibles. Also, the company generated revenue from the sale of the investment.

The company during the period generated $4,392,154 by issuing securities.

By the end of the FY2018 on 30 June 2018, the company had net cash and cash equivalent of $5,439,212.

By the end of the trading session on 30 January 2019, the closing price of the stock was A$0.018 with the market capitalization of A$22.85 million and approximately 1.27 billion outstanding shares.


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