GameOn Entertainment Technologies Inc. (“GameOn”), a leading game tech company, has filed today its Q2 financials (OTCQB : GMETF). The company, which partnered with some of the most prestigious IPs in the world to launch, operate and monetize web3 gaming, provides a mid-year corporate update.
The company then held a Q2 financials event. Announcement Proje Ventures Inc. has arranged a loan agreement US$550,000 A number determined by management to be necessary for profitability in 2023.
GameOn CEO, said that the Proje partnership “is a partnership that sets up us to not only survive and thrive in current market conditions” Matt Bailey . “We are halfway through 2022, but we also have half the way through a strategic plan over three years, so this cash injection helps us stay on track.”
Three year plan: Build, Sell and Profit
2021 was the Year of Building. The Company raised funds $5.8 million We hired key personnel to assist us in our public-listing process. Acquisition The company was a dream company and our B2B technology was soldable and scalable. The Company placed a high priority on a reusable product. Platform You won’t ever have to start from scratch. GameOn can get up and running in weeks with new partners, which is a significant advantage in selling in the market. The expenses of 2021 were naturally higher because it was a building year.
2022 was the year of selling our product and proving its demand. The management is convinced that this has been accomplished. The platform has made expenses significantly lower, and the Company is now working hard to find customers. GameOn now has over 10 partners in-development and in contract. GameOn reported in Q1 2022 and Q2 2022. $330,481 Revenue, up to $10,081 in the first quarter of 2021. The Management believes that the Company is on track towards achieving $1m In revenue at the end of the year, with an expected gross margin of 80%.
2023 is predicted to be the year that profitability will occur. The Company’s goal to scale customers and increase revenue without having to substantially increase expenses is its goal. GameOn’s platformized technology enables the Company to do this. The Company’s sales focus will continue to be a key factor in its growth and profitability.
Bailey stated that “while the market was affected by factors beyond our control, we have stayed the course” of the three-year plan. Management believes that we are on the right track and have made every effort to provide long-term shareholder value.
This is due to newly-announced partners becoming active and revenue starting to kick in. GameOn’s Partners pay the Company in three ways. One-time setup fees; monthly recurring licensing fees; and revenue share on income earned from our products.
This month, GameOn launched Our “Bet On Women” game Gaming Society and the WNBA featured in SportBusiness . This is our first major league licensee product leveraging leagues, and team logos. We have many more products in development so it won’t our last.
GameOn March launched March Madness bracket Only Women’s Sports and DICK’S Sporting Goods. JWS and DICK’S offered prizes US$150,000 To the bracket winner, the largest prize ever For women’s college basketball
GameOn will launch Tetavi’s most ambitious product in Q4 with GameOn Announcement It was launched earlier this year. The product allows users to find new music and invest in artists/songs. It also allows them to create their own “record label” and receive royalties on the streams and charts. To facilitate royalty distribution and ownership, the web3-based game will use the power of blockchain.
Last week GameOn Announcement RDB Car club is their new partner. RDB will license GameOn’s technology to hyperfuel web3 engagement. RDB is an auto shop with model customers. Kendall Jenner , NFL Super Bowl champion Jalen Ramsey , eight-time NBA All-Star Dwight Howard Singer-songwriter sensations Khalid and Billie Eilish .
GameOn was last year launched a cricket game for MX Player, India’s Largest streaming app with more than 1b Downloads . The game has amassed More than 500,000 players participated in the game and many predictions were made.
Bailey stated, “So, what’s next?” 2022 is the year of selling. We’re determined to close the year in the same way that we started it: by negotiating more partner deals. Expect news to be about new customers, and financials to reflect that. In 2023, we will be focusing on profitability charging toward profitability.
The Board of Directors:
Matt Bailey , Director & Chief Executive Officer
GameOn Entertainment Technologies Inc.
GAMEON ENTERTAINMENTTECHNOLOGIES INC.
GameOn CSE: GET (OTCQB : GMETF). We partner with some of the most prominent sports, media and entertainment IPs in order to launch brand-building and money-making web3 gaming games. We transform fans into superfans, engaging, retaining, monetizing, and profiting from the entire web3 gaming economic cycle. GameOn has a wide range of gaming, sports and media experts with experience at Twitch Interactive and EA. Customers include NBCUniversal and Bravo, MX Player. Gaming Society, RDB Car Club. Chibi Dinos .
This news release includes “forward-looking information” as well as “forward-looking statements” within the meaning of applicable securities law. It is easy to identify forward-looking information using words such as “believes”, “may,”” “plans”, “will,”,” anticipates,”,” will,”,” will,”,” anticipates,”,” could,” estimates,” “could,” etc., or the negative thereof. Other than statements of historical facts, all statements in this newsrelease are forward-looking statements. Forward-looking information includes statements about the Company’s future plans and objectives, future performance, future growth, business prospects, opportunities, synergies, and other factors that are beyond the Company’s control.
Forward-looking statements are subject to unknown risks, uncertainties, and other factors that could cause the Company’s actual results or level of activity, performance, and achievements to be materially different than those implied or expressed in such forward-looking data. Forward-looking statements are based on reasonable assumptions, estimates. analysis. opinions and observations of management. These factors include the Company’s ability to capitalize on acquired assets, the ability to retain its value as currently contemplated, and the potential synergies between the acquired assets and the Company’s operations. While the Company attempted to identify key factors that could cause actual results and outcomes to differ materially from what is contained in forward-looking statements, other factors may cause results to not be as expected. These information cannot be guaranteed to be accurate. Actual results and future events can differ materially from the ones that are anticipated. Readers should not place undue dependence on forward-looking statements. This cautionary statement is included in all forward-looking statements. GameOn does not assume any obligation to update or revise any forward-looking material or publicly announce any changes to the forward-looking data contained herein.
The CSE and its Regulation Services Provider, as that term is defined by the CSE policies, do not accept responsibility for this release’s accuracy or adequacy.
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SOURCE GameOn Entertainment Technologies Inc.
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