Talk of a CR at this point is baloney. The Company just completed a CR recently and had $3.75 Million in the kitty.
"Company Financial and Corporate OverviewCash at the end of the quarter was $1.95M.
The Company is targeting a cash outflow of ~$140,000 per month to maintain its operations. This cash burn value does not include any revenue amounts to be received which will offset the expenditure. In this regard, the Company’s cash outflow was ~$135,000 per month.
Subsequent to quarter end, Emerge Gaming has successfully completed a placement (“Placement”) raising $1.8 million with the issuance of 60,000,000 shares at a price of 3.0 cents per share. Investors who subscribed under the Placement also received one (1) free attaching EM1O listed option for every two (2) Placement shares issued. The options are exercisable at $0.02 on or before 18 April 2021.Funds raised from the Placement will support Emerge Gaming’s key offerings – the ArcadeX launch, rollout of the VAS model across Africa and accelerate the rollout of GameCloud."
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