I expect the 4C to read well. Operating cashflow will definitely...

I expect the 4C to read well. Operating cashflow will definitely improve, however there might be some additional costs related to the new Gold Coast studio. They've been quite active on the hiring front on LinkedIn.

Being said that, it'd be interesting to see how the market responds. Game stocks were caught up in the growth to value rotation/tech stock sell-off since the begining of 2022. Now we have China going into lockdown which could potentially bring the global economy into a recession, so that doesnt help growth stocks. Just look at the chart of EA Games, Nintendo, Taketwo, Ubisoft, Sony ... the performance was horrendous. Many of these stocks are trading at multi-year multiple lows.

As the hype for crypto and crypto associated stuff (such as gaming) died down, at least for the near term, plus all the economic issues that are happening, I think the focus will shift towards game studios that actually make games. The focus will also shift, if not already shifted, from the revenue line to the bottom line/profit. I think PLY is likely to be profitable this year. Given all the gloom and doom is probably already in the price, and given close to 70% of the stock is tied up in the top 20 of the share registry, I wouldn't be surprise if the market reacts well to a good 4C.