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On 24 October 2018, Esports Mogul Asia Pacific Limited (ASX:ESH) announced that they have finalized the development of the first stage of monetization for their tournament platform, Mogul Arena. Despite this news the share price of the company remained flat at $0.023 as on 24 October 2018.
Mogul Arena is one of the best online eSports tournament platforms in the world. It offers both full tournament automation and state-of-the-art functionality that integrates gaming with user-friendly social media features. As per the recent announcement of the company, the VIP Subscription feature of Mogul Arena will now allow the users to access exclusive tournaments, private Esports Elite leaderboards, extra awards for Daily Tournaments and challenges, profile personalization and customized prizing rewards. The offerings of VIP Subscription will be updated regularly to ensure continued user engagement. The company also announced that the functionality of Mogul Arena will be integrated with MOLPay, which is a South East Asiaâs largest payment gateway provider, to easily accept in-game purchases and other transactions from all over Southeast Asia, no matter the local currency. With this integration, Esports Mogul will be able to join the ranks of gaming industry stalwarts like Sony PlayStation, Facebook Gameroom, and Wargaming, all of whom are already using MOLPay to monetize their games and digital content in the region.Â
As per the companyâs Managing Director Mr. Gernot Abl, Esports Mogul is ready to enter into monetization through the VIP Subscription feature on Mogul Arena. He further added that, the additional offerings to users will not only attract more registrations, but it will increase the value of the platform. Recently, the company also announced that it is rebranding the suite of gamer platforms to âMogulâ, utilizing the domain name mogul.gg. Recently, the company also made an announcement informing that GameGeek.gg has merged with Mogul News and it will now operate under the Mogul News brand. To enable the merger to proceed, the Company acquired the remaining 30 percent of GameGeek Pte Ltd it did not previously own, with the consideration paid being 10 million fully paid ordinary shares which are subject to a 12-month voluntary escrow period.
In the first half of FY 2018, the revenue from the ordinary activities of the company decreased by 6.4 percent to $57,820 as compared to the first half year results of FY 2017. The net loss from the ordinary activities of the company decreased by 13.8 percent to $1.69 million in H1 2018. The basic and diluted loss per share of the company decreased from 0.23 cents in H1 2017 to 0.18 cents in H1 2018. The total current assets of the company increased from $2.11 million in H1 2017 to $5.488 million in H1 2018. The net cash used in operating activities decreased from $1.30 million in H1 2017 to $1.099 million in H1 2018.
In the last six months, the share price of the company increased by 15 percent as on 23 October 2018. ESHâs shares traded at $0.023 with a market capitalization of $29.19 million as on 24 October 2018.
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