Anyone else excited for March Madness??? Love watching this tournament and also happy that BettingHero will bring in good revenues as a result. I strongly suspect Q1 revs will be record breaking for FANS as a result, but I don't see them being good enough to ride out the quiet Q2/Q3 quarters even when combined with the latest PP. Hopefully I'm wrong though.
Overall, not feeling great about FANS these days. This latest PP was anticipated, but even so, it doesn't appear to buy us much of a runway. Shareholders deserve clarity on this and the fiscal health outlook for this year. Hopefully this comes soon when year end financials are published and presented and some insights are provided into Q1 performance as well. Perhaps it's just time to put ourselves up for sale given market conditions and the lack of cash on hand. Preference is to survive and buid, but not sure if that's in the cards.
Hard to understand how FANS was led by a couple of accountants in Scott and Darius yet they had an inadequate streamlined strategic plan in place with companion cost controls/controllers that resulted in 10s of millions of dollars in wasted shareholder money. Strategic review and ongoing changes will hopefully result in improved stewardship that can be quantitatively reflected in future quaterly results. Many apparent failures and mis-steps in the past that hopefully can be learned from.
SkyUte= Fail
Moneyline= Fail
RNG + Michael Lee= Fail + Fail. Too many deadlines missed to name with respect to game development and successful deployment into aggregators. Never even saw Michael's face. Perhaps we should just sell existing games to someone and get out of this business entirely rather than just have it in hibernation mode.
McBookie migration to FANS tech and License to reduce costs = Fail (ongoing)
Ontario Market and First Mover advantage = Fail*, but may be salvagable if this tied to a greater N/A B2B partnership that the public just isn't aware of yet.
AmAff not an opex burden as communicated = Fail
AmAff relatively low reverse takeover cost = Fail. If I've said it once I've said a million times; how accountants and lawyers couldn't initially catch the glaring issue in the formula for earnout payments is beyond me and shareholders suffer as a result via ongoing dillution and also now loan/debt servicing, notwithstanding the earnout amendment. Thank god for BettingHero...and as for the 'customer relationships' we paid a lot for, hope we're getting a lot of money for PAM module support for Betr! tick tock tick tock (waiting for more B2B deals).
We need to keep focusing on business development for projects that have a moderate-high probability for success and that carry anticipated moderate-high bottom line results. keep trimming the fat and GLTA