GameOn Entertainment Technologies Inc. All Right Reserved ®2023
VANCOUVER, BC — August 29, 2024 — GameOn (CSE: GET) (OTCQB: GMETF), a mobile-first, next-gen sports gaming company, today announces that it has filed its interim unaudited financial statements for Q2 2024.
Highlights of the financial statements include record revenue and other income reaching $3.6m for the six months ended June 30 (328% increase year-on-year). Net income for H1 reached $686k (compared to a net loss of $1.2m in the same period in 2023).
Income for the period was spearheaded by B2B license, maintenance, and software development fees, as well as B2C avatar sales, in-app purchases, and token sales. The company intends to continue scaling both B2B and B2C revenue streams.
“2024 continues to be a landmark year for the company,” said GameOn CEO, Matt Bailey. “We’re pushing the boundaries as a leader in next-gen sports gaming, reflected in our fundamentals that improve exponentially each quarter and year.”
H1 business highlights include:
See SEDAR for full copies of the Company's consolidated financial statements and MD&A.
On Behalf of the Board of Directors:
Matt Bailey, Director & Chief Executive Officer
GameOn Entertainment Technologies Inc.
matt@gameon.app
About GameOn
Founded in 2018, GameOn (CSE: GET) (OTCQB: GMETF) is a mobile-first, next-gen sports gaming company, integrating Web3 technology to enhance player engagement and asset ownership. Through partnerships with premier sports leagues such as LALIGA, PFL, and Karate Combat, and leveraging blockchain solutions from Arbitrum, GameOn is delivering a rich, interactive fantasy sports gaming experience. The $GAME token, crafted in partnership with Sportsology, allows fans globally to compete, engage, and win rewards based on actual sports results. GameOn is setting new standards in the evolution of fantasy gaming, offering unprecedented ways for fans to connect with the sports they love.
Forward-Looking Information
This news release contains "forward-looking information" and "forward-looking statements" (collectively, "forward-looking information") within the meaning of applicable securities laws. Forward-looking information is generally identifiable by use of the words "believes," "may," "plans," "will," "anticipates," "intends," "could," "estimates," "expects," "forecasts," "projects" and similar expressions, and the negative of such expressions. All statements other than statements of historical facts contained in this news release are forward looking statements. Forward-looking information in this news release includes, without limitation, statements regarding the future plans and objectives of the Company, execution of business strategy, future performance and future growth, business prospects, synergies and opportunities of the Company and its related subsidiaries, and other factors beyond the Company’s control.
Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the Company's actual results, level of activity, performance or achievements to be materially different from those expressed or implied by such forward-looking information. Forward-looking information is based on the reasonable assumptions, estimates, analysis and opinions of management made in light of its experience and perception of trends, current conditions and expected developments, and other factors that management believes are relevant and reasonable in the circumstances at the date such statements are made, including, but not limited to the Company being able to capitalize on the acquired assets, the ability of acquired assets to maintain its value as presently contemplated, the synergies of the acquired assets with the Company’s operations, and such other assumptions presented in the Company’s disclosure record. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Accordingly, readers should not place undue reliance on forward-looking information. All forward-looking information herein is qualified in its entirety by this cautionary statement, and GameOn disclaims any obligation to revise or update any such forward-looking information or to publicly announce the result of any revisions to any of the forward-looking information contained herein to reflect future results, events or developments, except as required by law.
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