- Technology and media entertainment company MSM Corporation (MSM) recorded a profit after tax of more than $2.82 million for H1 FY21
- In the prior corresponding period, the company reported a loss of more than $1.18 million
- Throughout the half, MSM continued to strengthen its strategic relationships with The Riva Group, Firefly Games and Galaxy Racer
- MSM entered voluntary suspension in February after announcing it entered an agreement to acquire all of the issued capital in Riva Technology and Entertainment (RTE), a subsidiary of The Riva Group
- In June, RTE entered an agreement with Galaxy Racer to manage all eSports content for the Megastar Version 2.0 platform
- Firefly Games launched "Zombie Rollerz: Pinball Heroes" on Apple Arcade, while Galaxy Racer entered a partnership with Spain's online eLaliga Santander Fan Cup
- Despite posting a positive first half result, MSM has stated it is not practical to estimate a second-half result due to the ongoing COVID-19 pandemic
- Shares in MSM last traded at 5.9 cents on February 4
Technology and media entertainment company MSM (MSM) recorded a profit after tax of more than $2.82 million for H1 FY21.
In the prior corresponding period, the company reported a loss of more than $1.18 million.
This profit includes the $206,031 that MSM received for the disposal of its interest in social marketing platform ToneDen.
Operations
Throughout the half, MSM continued to strengthen its strategic relationships with The Riva Group, Firefly Games and Galaxy Racer.
Following the end of the half, MSM entered voluntary suspension after announcing it entered an agreement to acquire all of the issued capital in Riva Technology and Entertainment (RTE), a subsidiary of The Riva Group.
MSM is currently in discussions with the ASX to achieve regulatory and shareholder requirements.
Megastar 2.0
In June, RTE entered an agreement with Galaxy Racer to manage all eSports content for the Megastar Version 2.0 platform.
This new version aims to deliver a more "gamified and interactive experience skill-based competition".
A few months later, RTE and Galaxy Racer appointed Disney veteran and consumer products expert Guenther Hake as advisor to maximise consumer products, brand partnerships and merchandise.
Guenther has more than 30 years experience, having been the first CEO of Oriental DreamWorks where he created the foundation for Kung Fu Panda 3.
He has also been the Senior Vice President and General Manager of Disney Consumer Products in China.
Firefly Games
In December, Firefly Games completed the global launch of "Zombie Rollerz: Pinball Heroes" on Apple Arcade.
The game was co-developed with Zing Games, and it marked the first launch of a Firefly Games game on Apple Arcade.
Galaxy Racer
During the half, Galaxy Racer entered a partnership with eLaliga Santander Fan Cup for the current season.
eLaliga is the official online competition for La Life Santander, which is the top professional soccer division of Spain.
This partnership was the first time a Dubai-based eSports organisation teamed up with a significant FIFA event.
Ongoing activities
Despite posting a positive first half result, MSM has stated it is not practical to estimate a second-half result due to the ongoing COVID-19 pandemic.
Shares in MSM last traded at 5.9 cents on February 4. The company has a $49.7 million market cap.
