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On 04 December 2018, Emerge Gaming Limited (ASX:EM1) announced that it has entered into a global distribution agreement with Cloudzen Pte Ltd (âCloudzenâ) to access its intellectual property âGameCloudâ. GameCloud is a digital platform which enables the streaming of multiple high-quality games on mobile phones.
GameCloud has the potential to allow around 2 billion users to access the platform. They provide instant streaming of multiple 3D high-quality games. The users can play games on mobile phones, but they also allow to play games through multiplayer gaming, video streaming, and social networking.
Through the global distribution agreement of the company, GameCloud will build a path for Emerge Gaming where it will have exposure to a large number of users who uses mobile for playing games and in turn will generate revenues for the company. It will be a win-win situation for both the companies as EM1 will be the first company to enter the world markets and Cloudzen would be able to promote its Arcade X and GameCloudâs technology.
At its initial phase, this technology will be introduced to selected countries in the world. These are the USA, Africa, Australia, India, and the United Kingdom.
Further, as per the agreement, under which EM1 will have the license to access GameCloud intellectual property. Also, they need to distribute the GameCloud in those areas where the users get subscribed and are ready to pay the subscription fee.
By agreeing with Cloudzen, EM1 has made its position very strong in the global gaming market. Further, the company is preparing itself for major development requirements in early 2019.
The company has given a consistent negative performance since its inception which is -99.62%. The performance of the company in 10 years was -99.62%. The performance of the company in 5 years of duration was -96.80%. The performance of the company remains -66.67% since last year.
For the year ended 30 June 2018, the company incurred a net loss of $6,446,493. The company holds a net asset of $3,929,126 which indicates that the company has the potential to meet its long-term obligations. The company holds a total current asset of $3,738,980 and total current liabilities worth $708,297, which indicates that the company has the potential to meet its short-term obligations as well as working capital. The accumulated loss in FY2018 also increased as compared to the previous year which shows that the shareholderâs wealth has been eroded in this period. By the end of the period, the total shareholderâs equity is worth $3,929,126. Also, the cash and cash equivalent at the end of the year was $3,606,158.
By the end of the trading on 04 December 2018, the market price of the share was A$0.009 (AEST: 4 PM, 04 December 2018) which is near to 52 weeks low price while the stock reported a market capitalization of A$4.11 million.
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