ESH released Mogul Wallet- Stock Zoomed Up By 5.6%

Esports Mogul Asia Pacific Limited (ASX: ESH), an eSports Media Hub from the Media & Entertainment sector, has announced the release of the Mogul Wallet where the user can easily deposit and withdraw the funds to use on Mogul. The Wallet will enable the users to access the winnings and virtual rewards from tournaments, Esports Elite and such.

With the release of Mogul Wallet, the company is moving towards the commercialization. The company also integrated the global payment providers and Razer Pay which will enable it to step up towards the monetization and finalize paid features. The global payment providers specialises in video game payment, billing etc. The payment providers function worldwide, and support in excess of 130 currencies and are acceptable in 700 plus diverse payment ways. The selected payment providers will also provide a vast deposit method for those users who do not have a bank account or those who do not have access to credit cards. 

However, the statistics of Southeast Asia says that there are only 27% of the population in that region who have bank accounts. Hence, the integration of the payment providers will give cash payment solutions to the unbanked.

The company also highlighted about the Mogul VIP, where the user will have access to the exclusive tournament, extra rewards for Daily Tournaments and private Esports Elite leaderboards. The VIP subscription offerings would be improved for a superior and constant user satisfaction and engagement before being launched in future.

Since the inception of ESH on ASX, the stock has generated a negative performance of 90.92%. In last one year, the stock has given a positive return of 28.57%.

By the end of the December quarter on 31 December 2018, there was a net cash outflow of A$1.309 million from the operating activities of the company. The primary cause of cash outflow was the payment made for the advertising and marketing, staff costs and the administration and corporate costs.

The company made payment for the acquisition of the intellectual property worth A$0.175 million.

By the end of the December quarter on 31 December 2018, Esports Mogul Asia Pacific Limited had net cash and cash equivalent worth A$2.395 million.

The company expects that in the March quarter ending on 31 March 2019, the total estimated cash outflow will be approximately A$1.600 million where the source of cash outflow will be in the form of Research and development, Advertising and marketing as well as Administration and corporate costs.

On 7 February 2019, the opening price of the stock was A$0.018. It went as high as A$0.020. By the closure of the trading session on 7 February 2019, the closing price of the stock was A$0.019 which was 5.556% above its previous trading day’s closing price. The stock has a market capitalization of A$22.85 million with an approximately 1.27 billion outstanding shares.


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