Yeah see below taken from the quarterly.
I can't see how we are here for another CR so soon.
Could it be the alternative verticals they speak of?
Platform Investment:
Ongoing optimisations are now fully underway. As the
larger set pieces of the platform have been built we expect to see significant
expense reductions take place which is expected to increase the forecasted runway.
The December 2021 quarter will see a significant drop in monthly expenditure,
particularly in the human resources and contractors in engineering and product.
These reductions offer a significant extension to the runway.
Concurrently, the Mogul Board and CEO are investigating other verticals within the
video game ecosystem that may warrant investment. These include mobile, PC and
console game developers that may (or may not) benefit from our tournament hosting
technology and expertise. The Company continues to review opportunities and will
update the market as these opportunities progress.
Financial Outlook:
The company is in a strong financial position with adequate cash reserves on the
balance sheet and activity around spending was within budget tolerances.
Total of ~$A875,000 was spent on operational activity which included ~$A271,000 on
tournament operations, ~$A203,000 on staffing costs and ~$A401,000 on
administration and corporate costs. A further ~$A470,000 on capitalised Intellectual
Property. Through the September quarter the business activity had sales of $A85,162.
Since 1 October the Company has received $A46,511 with the expected payments of
~$A82,000 over the coming quarter.
The Company also received ~$A154,000 from the Australian R&D Tax Offset program.
This grant relates to the expenditure in R&D activities through the 2020 year. Further
activity has been conducted in the current year that will provide financial benefit in
the 2022 year.
The Company notes that in Q3 2021, the Company paid $A79,557 to directors of the
Company in fees, salaries and superannuation.
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