Highest-materiality recent filing
Esports Entertainment Group dismisses Marcum LLP; appoints TAAD LLP as auditor for FY2024
Dismissed Marcum LLP as independent auditor effective June 13, 2024; board and audit committee approved.
Issued secured promissory note for $1.42M in cash, 10% interest paid in-kind quarterly, matures March 7, 2026.
Esports Entertainment Group to voluntarily delist from Nasdaq, begin trading on OTC Pink Feb 21
Securities suspended on Nasdaq at open Feb 21, 2024; to trade on OTC Pink initially.
Esports Entertainment voluntarily delisting from Nasdaq; moving to OTCQB to cut costs
Board approved voluntary delisting of common stock, preferred stock, and warrants from Nasdaq.
Esports Entertainment CFO, COO, Chief People Officer resign effective April 30, 2024
CFO Michael Villani, COO Damian Mathews, and Chief People Officer Jenny Pace resign effective April 30, 2024.
Esports Entertainment Group effects 1-for-400 reverse stock split, reduces authorized shares
Reverse stock split 1-for-400 reduces outstanding shares from ~426M to ~1.065M.
Esports Entertainment Group Announces 1-for-400 Reverse Stock Split and Nasdaq Exception
Board approved 1-for-400 reverse stock split effective at 4:01 PM ET on December 21, 2023, reducing shares from ~426M to ~1.065M.
Esports Entertainment suspends monthly dividend on Series A Preferred Stock from Dec 2023
Board temporarily suspends monthly cash dividend on 10% Series A Cumulative Redeemable Convertible Preferred Stock, effective December 2023.
Holder converted $2,510,000 principal + $36,000 dividends of Series C Preferred into 118,800,000 common shares at 90% of lowest 10-day VWAP.
Esports Entertainment converts $343K preferred into 14.1M shares; ATM raises $787K
Converted $338K principal plus $5K dividends of Series C Preferred into 14,129,000 common shares at 90% of lowest 10-day VWAP.
Esports Entertainment receives Nasdaq deficiency notice for failing $2.5M equity rule
Received Nasdaq deficiency letter on Nov 28, 2023 for failing the $2,500,000 minimum stockholders' equity requirement.
Esports Entertainment sells 4M shares at ~$0.032 via ATM; proceeds for preferred redemption
Sold 4,000,000 shares via ATM for gross proceeds of $128,000; net proceeds $124,000.
Esports Entertainment converts $221K of preferred into 4.42M shares; ATM raises $364K
Converted ~$219K principal + $2K dividends of Series C Preferred into 4,422,000 common shares at 90% of lowest VWAP.
Esports Entertainment settles former CEO Grant Johnson litigation for $500k in cash
Settlement resolves three pending lawsuits in SDNY (1:22-cv-10861) between company and former CEO Grant Johnson.
Esports Entertainment issues ~3.6M shares on conversion, sells 8.2M shares via ATM through Nov 6
Converted ~$189k preferred principal + $1k dividends into 3.57M shares at 90% of lowest VWAP.
Nasdaq notifies Esports Entertainment of delisting due to bid price below $0.10; company to appeal
Nasdaq staff determined common stock closed at or below $0.10 for 10 consecutive days; trading suspension set for Oct 31 unless hearing requested.
Revenue $23.0M for FY2023, down 61% from $58.4M in FY2022.
Issuing 10,000 shares at $0.05 initially, then $1,000 every 7 days at lower of $0.05 or 90% of 10-day VWAP to settle $64,500 RRA fee.
Esports Entertainment converts $198k Series C Preferred into 2M+ shares; dilution continues
Holder converted ~$198,000 of Series C Preferred into 2,025,883 common shares at 90% of lowest 10-day VWAP.
Esports Entertainment converts $493k Series C Preferred into 5.0M common shares, diluting equity
Between Sept 20-25, 2023, holder converted ~$493,000 of Series C Preferred into 5,045,128 common shares at 90% of lowest VWAP.
Esports Entertainment converts ~$824K Series C preferred into 8.1M shares; total shares now 50.8M
Holder converted ~$824K face value of Series C Convertible Preferred into 8,109,845 common shares at a discount to VWAP.
Company entered Equity Distribution Agreement with Maxim Group LLC to sell up to $7,186,257 of common stock through ATM offering.
Esports Entertainment receives Nasdaq bid price deficiency notice; 180 days to regain compliance
Nasdaq notified that common stock bid price closed below $1.00 for 30 consecutive business days.
Esports Entertainment Series C Preferred declines to $7.9M; no conversions in latest period
No conversions of Series C Preferred into common occurred between Aug 29 and Sept 5, 2023.
Esports Entertainment converts $641K Series C Preferred into 5.13M common shares
Holder converted $641,000 of Series C Preferred into 5,128,624 common shares at 90% of lowest VWAP (Aug 23-28, 2023).
Esports Entertainment converts $1.65M Series C to 10M shares; 36% dilution in a week
Holder converted ~$1.645M of Series C Preferred into 10,033,858 common shares (Aug 16-21, 2023).
Auditors raise substantial doubt about going concern; accumulated deficit $149M as of June 30, 2022.
Sold 1M shares at $0.1935/share and pre-funded warrants for 4,167,959 shares, gross proceeds ~$1M.
Esports Entertainment converts $3.5M Series C Preferred into 8M shares; dividends up $3.6M
Holder converted $3,506,701 of Series C Preferred into 8,025,548 common shares at 90% of lowest 10-day VWAP.
Esports Entertainment converts $3.8M Series C into 8.8M shares; misses approval deadline
Converted $3,825,947 Series C preferred into 8,755,749 common shares at 90% of lowest 10-day VWAP.
Esports Entertainment converts $181,506 of Series C Preferred into 333,124 common shares
Holder converted $181,506 of Series C Preferred into 333,124 shares of common stock at 90% of lowest VWAP.
Esports Entertainment converts $500K Series C Preferred into 332,061 common shares, diluting holders
Between May 22 and June 26, 2023, Holder converted $500K of Series C Preferred into 332,061 common shares.
Exchanged $15.23M Senior Convertible Note for Series C Convertible Preferred Stock on Apr 28, 2023.
Esports Entertainment Q3 revenue $4.2M, net loss $13.2M; cuts 37% of workforce
Revenue $4.2M vs $15.7M YoY; net loss improved to $13.2M from $63.6M.
Esports Entertainment regains Nasdaq minimum equity compliance via note exchange
Exchanged $15.23M Senior Convertible Note into 15,230 shares of new Series C Preferred Stock.
Esports Entertainment raises ~$4M via Series D Convertible Preferred and warrants
Sold 4,300 shares Series D Preferred at $1,000/share, common warrants for 1,433,333 shares at $1.96, preferred warrants for 4,300 shares.
Agreed to exchange $15,230,024 outstanding Senior Convertible Note for new Series C Convertible Preferred Stock, contingent on closing a capital raise.
Esports Entertainment gets Nasdaq extension to April 30 to meet $2.5M equity rule
Received Nasdaq extension to April 30, 2023, to satisfy $2.5M stockholders' equity requirement under Listing Rule 5550(b)(1).
Regains Nasdaq bid price compliance; must meet $2.5M equity test by March 31
On March 9, 2023, notified by Nasdaq Hearing Panel of compliance with minimum bid price rule (5550(a)(2)).
Mr. Lim updated the Company that his resignation from the Board and the Audit Committee and the Compensation, Nominating and Corporate Governance Committee will be effective on March 7, 2024.
received notice from Michael Villani, Chief Financial Officer, Damian Mathews, Chief Operating Officer, and Jenny Pace, Chief People Officer of their resignations from their respective positions with the Company, effective April 30, 2024.
received notice from Michael Villani, Chief Financial Officer, Damian Mathews, Chief Operating Officer, and Jenny Pace, Chief People Officer of their resignations from their respective positions with the Company, effective April 30, 2024.
received notice from Michael Villani, Chief Financial Officer, Damian Mathews, Chief Operating Officer, and Jenny Pace, Chief People Officer of their resignations from their respective positions with the Company, effective April 30, 2024.
Chul Woong Lim, a director of the Company, notified the Company that he would be resigning as a director of the Company and would therefore not be standing for reelection to the Company’s Board of Directors (the “Board”) at the 2023 Annual Meeting of the Stockholders (the “2023 Annual Meeting”).
Effective August 29, 2023, Esports Entertainment Group, Inc. (the “Company”) announced the appointment of Michael Villani, 47, as the permanent Chief Financial Officer, from his previous role as Interim Chief Financial Officer and Financial Controller.
On June 6, 2023, the board of directors (the “Board”) of Esports Entertainment Group, Inc. (the “Company”) appointed Mr. Robert Soper as a member of the Board, (the “Appointment”), effective immediately.
appointed Damian Mathews, a current member of the Board, to serve as the Company’s Chief Operating Officer (the “Appointment”), effective May 29, 2023
John Brackens, the current Chief Technology Officer/Chief Information Officer, will be departing the Company on May 14, 2023.
Effective January 6, 2023, the Company announced the appointment of Michael Villani as the Interim Chief Financial Officer, in addition to his current role as the Financial Controller.
On December 31, 2022, Damian Mathews resigned from his position as Chief Operating Officer and Chief Financial Officer of Esports Entertainment Group, Inc. (the “Company”).
On December 31, 2022, Damian Mathews resigned from his position as Chief Operating Officer and Chief Financial Officer of Esports Entertainment Group, Inc. (the “Company”).
Max materiality 0.90 · Median 0.70 · Most common event other_material