Enthusiast Gaming Holdings Inc T.EGLX

Results

[Puma1back]

Operations were running about -$6 million a quarter for last few years so -$2.6 million is a pretty substantial reduction. 

they were sitting on only $3.5 million end of March but I believe that they still have bank lines open & availabile.

presumably price targets drop given continued slump in digital advert space

[Niceneasydoesit]

 No touch. Rev down, earnings loss better but still loosing money. Cash burn and need to raise funds is clear. Not for me. 

[Puma1back]

No price target reduction at RBC - believe that the track to ebit positive in 24 is on target. No mention of cash and new financing, RBC believes that what they have on hand & available will carry them - strikes me as optimistic on the cash  ends   

[Niceneasydoesit]

For me, I think this company fully deserves " show me" status. 

[kirktop]

I don't think any of the brokerage houses reduced their targets. New CEO has everyone excited.

[Puma1back]

They had been pulling them down in advance of these quarters results - still surprised no drops in light of how far they are off the current price.  

[kirktop]

I can see why the analysts are expecting a $3 share price.  $170 million revenue going to over $200 million makes tech companes worth $500 million which is $3 per share.  $15 million annual cash burn will go to zero probably within the year under the new CEO.  They should do some more nondilutive or minimally dilutive financing here. 

[1condor]

I would not go near this stock until there is some clarity on the potential reverse split. I hope they dont go down that road...it would be a disaster..not that the stock has done anything lately anyway.

[Puma1back]

  in principle i agree but there is usually a run up of some degree prior to these events so a chance here to get some pop for patience   

[1condor]

Shouldnt be long now before they announce the reverse split...because we all know there is no way they will make the requirements to stay listed on the NAS without it. I would say a 1 for 10 reverse split is likely which will provide a lot of meat for the shorts to feast on.  

[1condor]

Down 11 percent as I type....reverse split fears? I would bet on it.

[1condor]

wonder where it will bottom before the reverse split is announced. Almost a given that the share price will erode until announcent...so the later management waits the lower the SP goes. 

[MS12345]

Reverse split was a given even before the extension. Question is by how many? This will be part of Adrian Montgomery's legacy. 

[1condor]

MS12345....it will be a 1 for 10 reverse split. I expect it soon (it was mentioned in the last earnings release so you all have had a heads up its coming...also there is no other way to keep them on the NAS). I am still wondering how low it go before they announce the split...maybe 40's. I know for sure it will roll over hard after the reverse split is done as the shorts will be on this stock

[1condor]

yearly low about to be taken out at 53 cents. Management needs to speed up their announcement of the reverse split...because until they do the stock will continue to drift lower. Still think we are going into the 40's.