G101, a few points.
I think you will find they had $2.078mil cash at the end of Dec 17, not Jan 18. The figures are for the quarter ended being reported on, not when the report is announced to the market. Look for the dates at the top of the report. A small point, but necessary to keep that in mind.
The $465k disinvestment is made up for $280k cash upfront, and the rest deferred for 2 years to be taken as part cash/part shares.
As expected, in today’s quarterly the company’s cash position is about $1.4mil at end of March. With the $280k cash inflow from the from disinvestment of challengeme expected this current quarter, and the company’s slightly conservative forecast outflow esh should see a balance around $1mil or just below at the end of this financial year (assuming no significant cash inflows in the next 2 months).
Regarding the performance goals, the discussion has been around the performance rights. At the company meeting on Jan 29th this year it was voted to allow around 90,000,000 performance rights for conditions of exceeding 300,000 new users. It was announced this was triggered in the disinvestment announcement on 16th April. I personally was disappointed to see that existing razer users were used to trigger these rights. On the plus side, employees and contractors would have been given these performance rights instead of other remuneration, potentially helping to preserve the cash balance, but this will dilute existing holders.
As for the persistent downramping comments, can we just have constructive discussion here, where we can accept each others views without the need for name calling and labelling people? Ramping is defined as giving false, unfounded or dishonest advice about buying shares. I think you will find most of the discussion here is founded and contains peoples actual honest opinions, even if it is based on gut feel and speculation. It is a pity there are a few rampers here, up and down, but calling out every poster with a founded critical view on a stock is counterproductive. Everyone is welcome to discuss honestly here, the pros and cons, regardless of whether they hold shares, are sitting on the sidelines looking to invest, or just for interest sake.
Now, are there any other gamers out there who can give further feedback on mogul arena when compared to their competitors?, or any gamers who have experience with whats going down over in Latin America with Axeso5? Hopefully some gamers who use/have used mogul arena can report their opinions here
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