I must be missing something. They lost 5 mil last year on 10 mil in revs and lost 5 mil the year before on 15 mil in revs. Seems like no matter what they do they lose 5 mil. And now on a small increase in revs they are going to become profitable?
Been sitting on my shares for a long while and finally happy with the stock performance.
Market seems to be joyfully pushing the stock higher on the recently announced merger. Terms look nice to me.
GAMR eliminating $48.8 million worth of long term debt at a discounted amount of $30 million using the proceeds from the $51 million private placement. They will keep the remaining $21 million in cash.
GAMR's balance sheet prior to merger: $73 million in assets and $78 million in liabilities-- shareholder's equity of negative $4.1 million Current market capitalization around $12 million.
Post this merger: $93 million in assets and $29.2 million in liabilities-- shareholder's equity of positive $63.8 million. After the merger, $120 million market capitalization. ........no need or concern to worry about them needing to raise more capital.
Going forward, company of around $105 million in sales and $12 million in EBIDTA.
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