09:01 AM EST - ESE Entertainment Inc. : Announced its unaudited interim consolidated financial results for the three and nine months ended July 31, 2021. All amounts are stated in Canadian dollars unless otherwise indicated. Third Quarter 2021 Financial and Key Operating Highlights: Revenue of $4.23 million for the three months ended July 31, 2021 vs the three months ended July 31, 2020 revenue of $0.14 million; Cash balance increased to $9.17 million and zero debt; Entered a content production contract with Bitcoin Vault for a major roll out of an esports and gaming talent show, strengthening ESE's presence in the global esports and gaming markets and expanding its production and media rights capabilities globally; Raised gross proceeds of $8.6 million in a bought deal public offering of units of the Company from institutional investors at a price of $1.40 per unit. Each unit is composed of one common share of the Company and one common share purchase warrant of the Company, exercisable at $1.95 for two years from issuance, subject to an acceleration right; Entered into a letter of intent to acquire Digital Motorsports, an Ireland-based provider of advanced simulation racing infrastructure, technology and support. This acquisition was subsequently completed on September 14, 2021; Improvement in bottom line, net loss of $1.26 million vs a net loss of $3.81 million in the previous quarter; Continued investment in platform development as well as improvement in back-office functions; Developing new software and technology for gaming and esports. ESE Entertainment Inc.
shares V.ESE are trading unchanged at $1.01.
