Previously writing on company which describes itself as “a world-leading esports technology and media business” Gfinity (GFIN), in March with the shares at 1.425p I noted interims, the equity raise “for working capital purposes”?, concluding continue to avoid. Now it announces results for its year ended 30th June 2022 headlined “Continued progress on path to profitability”. Why announce the results now, at prime no one watching o’clock, then?
Just over two weeks ago Gfinity (GFIN) announced a £2.7 million equity raise “for working capital purposes”. I questioned a “world leading esports solutions provider” requiring £2.7 million... and so what about now-announced results for its half-year ended 31st December 2021?...
Self-described “a world leading esports solutions provider”, Gfinity (GFIN) has announced “it has conditionally raised £2.70 million… at a price of 1.25 pence per share. In addition, for every new ordinary share, subscribers in the fundraising will be issued with one warrant to subscribe for one ordinary share at the issue price. The fundraising proceeds will be used for working capital purposes… The issue price represents a discount of 2.3 per cent. to the previous day closing share price of 1.28 pence per share”. Hmmm – a “world leading esports solutions provider” requiring £2.7 million?...
Describing itself as “a world-leading video game media and technology business”, Gfinity (GFIN) has announced an “Update on first half performance” including emphasising “strong progress made during H1 in the areas of greatest strategic value”. So why currently a share price of 1.225p, down 49%?!...
