Esports Mogul (ASX: ESH) one of Australia’s leading eSports companies has provided a temporary report regarding its operations. The company shows confidence in maintaining its position as “world’s best deeply integrated and fully automated tournament platform”.
The company at present is introducing certain new features and further developing its registered eSports tournament platform, Mogul Arena. For this company is currently preparing for monetization.
The company has hired a new marketing chief Marian Kaufmann to drive all the marketing activities. The appointment of Mr. Kaufmann’s appointment is considered as a step towards monetization of Mogul Arena and also will help in the branding and developing eSports brand into the global market specially Asia.
Mr. Kaufmann has extensive marketing experience. He also keeps knowledge about eSports. For almost two years he has served as an online marketing specialist in Razer, which is renowned gaming hardware manufacturer.
After accepting the role in the month of August, Mr. Kaufmann has provided valuable inputs and also did in-depth analysis of user behavior. The valuable inputs of Mr. Kaufmann were in regard to wider strategy to acquire users.
In the month of August, Esport Mogul started a mobile app by the name Mogul Android App. It comprises of two releases. Version 1 has now entered quality assurance testing and is pending for google play store approval. The second version will begin in quarter 1, 2019 and will enable smartphone users’ additional native features. The company was the platform provider for Razer and Singtel’s PVP Esports championship. Through the strategic collaboration of Esports Mogul and Razer, payment gateway MOLPay, a southeast Asian payment gateway got selected to combine with Mogul Arena in their initial steps towards monetization. In the month of October Mogul Arena developed a kind of tournament management system where the partners of the company and the third-party organizers are able to create tournaments easily.
The strength of Mogul Arena has increased after it got merged with GameGeek.gg. They will now operate under a common brand Mogul News. The overall performance of the company since its inception is -88.39%. The one year and 5 years performance of the company is 27.78% and -25.81% respectively. For the quarter ended 30 September 2018, the net cash used in the operating activities is A$1.459 million. The major cash outflow was due to advertising and marketing, staff cost and administration and corporate cost. The net cash used in investing activities is A$0.146 million. The net cash used in financing activities was A$ 0.005 million. The net cash and cash equivalents at the end of quarter is A$3.780 million
For the half year ended 30 June 2018, the company made a net loss $1,715,976. The company holds a total asset worth $6,901,362 and total liabilities of $76,123. This indicates that company is able to clear its long-term obligations. The total current liabilities of the company are $76,123 and total current asset worth $5,488,024. This indicates that the company is able to meet the requirements of the working capital and the short-term obligation of the company. The total shareholders equity by the end of the period was $6,825,239. The current market price of the share is A$0.023 with a market capitalization of A$29.19 million.
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