GREY:FUNFF - Post by User
Comment by
Doozeron Dec 03, 2020 6:12pm
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Post# 32033654
RE:Q3 Financials
RE:Q3 FinancialsI enjoyed the ride up but have since cashed out in phases. Agree that this company has a bright future, including short-term UK license anticipated in Q1 that will yeild improved margins for McBookie + new Askott RNG games in 2021 that will be avaialble in future aggregator contracts, but just think it's too pricy at this point from a P/B perspective. Current assets are $5.5mil with enough cash to likely get them through the first half of next year. >$20mil of their non-current assets are goodwill and intangibles that just don't impress me from a balance sheet perspective (suggest people read the notes in financial statement if not apprised). Current liabilities just over $1mil. I just don't think this warrants a market cap of >100mil that it currently enjoys, as of today, even when baking in future growth and how well McBookie is doing...depends on your time horizon I guess.
Could very well be wrong and GLTA in any event. Good long-term future for this company and I see the 2022 cash cow actually shaping up to be the Askott RNG games when they are distributed into additional casino aggregators. Many games are in development that will be available in 2021 and it sounds as though distrubution deals will soon follow.