News

eSports Entertainment Group, Inc. (GMBL) – Cash Influx Brings Breathing Room

Retail and Consumer
1 min read

Wednesday, March 02, 2022

eSports Entertainment Group, Inc. (GMBL)
Cash Influx Brings Breathing Room

Esports Entertainment Group Inc is a development-stage online gambling company focused purely on esports. The company’s principal business operations include design, develop and test wagering systems.

Michael Kupinski, Director of Research, Noble Capital Markets, Inc.

Refer to the full report for the price target, fundamental analysis, and rating.

    Completes capital raise. The company completed a secondary offering of 15 million shares at $1 and 15 million warrants, convertible into common stock at $1 per share. We estimate that the net proceeds from the offering is $13.8 million.

    Brings financial flexibility.  We believe that the capital infusion will breathe life into the company’s growth strategy, potentially enough capital until the company swings toward positive cash flow in 2023, based on the current burn rate of $1.3 million per month. We are maintaining our fundamental analysis of 1, the lowest rating, until there is better visibility on the company’s swing toward …



This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).

*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary.  Proper due diligence is required before making any investment decision. 

Comments

0
No comments yet...
Share

Inbox Intel from Channelchek.

Informed investors make more money. And it’s all about timing. Get it when it happens.

By clicking submit you are agreeing to the Terms of Use and Privacy Policy
© 2018-2022 Noble Financial Group, Inc. All Rights Reserved. Channelchek is provided at no cost to be used for information purposes only and not as investment advisement.