Elys BMG Corp inc (ELYS)

[DewmBoom]

$ELYS Update (12/22/2020)

Cash position now stands at $10.5 million dollars and eliminated more than 4.5 million dollars in imminent debt. Cash position up by 4.8 million dollars relative to Q2. Their public offering for $10 million dollars in August was executed @ $2.40, minus ~10% commission. Their net was close to 9 million dollars. https://www.otcmarkets.com/filing/html?id=14358874&guid=wPWeUpRahHuNath

Revenue for Q3, reported on Friday 11/20, was at 9.7 million dollars, with a total of 24.7 million dollars for the first 9 months in 2020. https://www.otcmarkets.com/filing/html?id=14517378&guid=wPWeUpRahHuNath

Shareholder equity jumped from 8.8 million dollars at the end of December, 2019 to 17.2 million dollars at the end of September, 2020.

US SPORTS BETTING UPDATE: ELYS has recently submitted its initial U.S. license application along with its first sports bar operator partner, Grand Central, LLC in the prestigious area of Adams Morgan of Washington, D.C. The application was accepted and currently under review since 11/5. "Our ambition is to establish exciting, premier, regulated Class B sports book locations in the District of Colombia creating expansion opportunities for local businesses while offering an ancillary product for restaurant and b ar owners to attract walk-up traffic to their establishments." https://www.businesswire.com/news/home/20201117006227/en/Elys-Game-Technology-to-Report-2020-Third-Quarter-Results-and-Recent-Developments

FINANCIAL METRICS

Stock pps: $6.70

OS: 17.93 millions, https://www.otcmarkets.com/stock/ELYS/security

Market Cap: 120 million dollars

TTM Price to Revenue: 3.42

Average P/R for peers is at 13 but some peers are much higher ($DKNG: 40, $GMGI:42)

ELYS is highly undervalued, especially since they completed the ELYS sports betting platform for US market passing the highest industry standard and already applied for a license. ELYS is a big 2021 winner. At a P/R of 40, stock is worth $78 @ a market cap of $1.4B.