Motorsport Games falls as Q4 revenue more than halves

Motorsport Games

27/03/2023 10:25

** Shares of video game developer Motorsport Games Inc
 MSGM.O  fall 10.5% at $5.99 in premarket trading
    ** Co posts Q4 revenue of $3.8 million, a reduction of 54%
compared to last year
    ** Expect to continue to incur significant operating
expenses & have negative cash flows from ops for foreseeable
future until its product base is suitably established - MSGM
    ** Says based on current cash position & average cash burn,
does not believe it has sufficient cash on hand to fund ops for
remainder of 2023
    ** MSGM fell 87.8% in 2022

 (Reporting by Ashwini Raj in Bengaluru)
 ((Ashwini.Raj@thomsonreuters.com))