REG - Streaks Gaming PLC - Annual Results

StreaksaiAnnouncement

30/06/2023 07:15

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RNS Number : 4724E  Streaks Gaming PLC  30 June 2023

Press Release

 

30 June 2023

 

 

 

Streaks Gaming PLC

('Streaks'" or 'The Company')

 

Annual results

 

 

Streaks Gaming PLC (LSE: STK), a UK-based provider of AI focused
conversational gaming "Streaks Gaming", announces its audited results for the
12 months ended 28 February 2023.

 

Comments from Michael Edwards, Non-Executive Chairman of Streaks:

 

The Company had a successful IPO and commenced trading on the Standard Segment
of the London Stock Exchange on 5 January 2023 with a placing of 100m shares
at a price of 3p.

 

The Company has built and launched a global conversational gaming platform,
called Streaks Gaming using powerful Natural Language Processing (NLP) text
generators like GPT-4. This core platform has been successfully deployed in
the conversational gaming space for sports like the NFL and the NBA. The
platform has already attracted advertising partners like Fan Duel, BetMGM,
DraftKings and PointsBet.

 

The Company is excited to announce that it has leveraged its considerable
technical know-how in the AI space and is launching a Social AI platform for
influencers in Q3 called Streaks Social. The Streaks Social AI Platform will
allow influencers to better connect and monetise their existing fans through
the automatic creation of an AI Avatar. This AI Avatar is fully customizable
and uses both voice and text driven prompts with video prompts coming in the
near-term development pipeline. [The interactions between the AI Avatar and
the fans will be personalised via NLP, providing each fan with a unique
experience. Over time, this personalisation will deepen.

 

Influencers will be able to monetise their fans through Streaks credits and
fans will be able to take advantage of loyalty points and "Streaks" by using
the core AI Conversational platform.

 

Through its extensive engagement with fans on the existing AI driven gaming
platform, the Streaks team has recognized the potential and power of
conversational AI. and how powerful it is to provide an AI that genuinely
embodies a unique persona. Streaks is a full-stack AI company, involved in
every aspect from training the language models to constructing the user
interface. This empowers Streaks to create personalized experiences that have
allowed for the development of the Streaks Social Platform.

 

About Streaks:

Streaks Gaming PLC is a provider of AI based conversational technologies. The
Company offers two core products in the gaming and conversational AI space.

For more information on the Conversational Gaming AI product, please visit
www. playstreaks.com.

For more information on the Conversational AI product, please visit
www.streaks.ai (http://www.streaks.ai) .

 

The Directors of Streaks accept responsibility for this announcement.

This announcement may contain "forward-looking" statements and information
relating to the Company. These statements are based on the beliefs of Company
management, as well as assumptions made by and information currently available
to Company management. The Company does not undertake to update
forward‐looking statements or forward‐looking information, except as
required by law.

 

The information contained within this announcement is deemed by the Company to
constitute inside information stipulated under the Market Abuse Regulation
(EU) No. 596/2014, as retained as part of the law of England and Wales. Upon
the publication of this announcement via the Regulatory Information Service,
this inside information is now considered to be in the public domain.

 

For further information please contact:

 Streaks Gaming PLC
 Mike Edwards                         via First Sentinel (Corporate Advisor)

 Executive Chairman                   +44 203 989 2222

 Corporate Brokers

 Peter Krens (Tennyson Securities)    +44 207 186 9030

 Brian Stockbridge (First Sentinel)   +44 203 989 2200

 

 

Statement of Profit or Loss and Other Comprehensive Income

For the year ended 28 February 2023

 

 Year ended                                                                                 Year ended

 28 February                                                                                28 February
                                                                                  2023      2022

                                                                                  £'000     £'000
 Continuing Operations

 Revenue                                                                          -         -
 Cost of sales                                                                    -         -
 Gross profit                                                                     -         -
 Administrative expenses                                                          (3,351)   (600)
 Depreciation & amortization                                                      -         -
 Operating loss                                                                   (3,351)   (600)

 Finance income                                                                   -         -
 Finance costs                                                                    -         -
 Loss before taxation                                                             (3,351)   (600)

 Taxation                                                                         -         -
 Loss after taxation                                                              (3,351)   (600)

 Other comprehensive income                                                       -         -

 Total comprehensive loss for the year attributable to shareholders from
 continuing

                                                                                  (3,351)   (600)
 operations

 Basic and diluted earnings per share - pence                                     (1.24)    (1.21)

 

 

The notes contained in the Company's Annual Report form part of these
financial statements.

Statement of Financial Position

For the year ended 28 February 2023

                                     As at                     As at

                                     28 F e b r u a r y 2023   28 F e b r u a r y 2022

                                     £'000                     £'000
 NON-CURRENT ASSETS
 Property, plant and equipment       -                         -
 Intangible assets                   63                        63
 Other receivables                   -                         -
 TOTAL NON-CURRENT ASSETS            63                        63

 CURRENT ASSETS
 Trade and other receivables         196                       52
 Cash and cash equivalents           2,070                     45
 TOTAL CURRENT ASSETS                2,267                     97
 TOTAL ASSETS                        2,329                     160

 EQUITY
 Share capital                       378                       154
 Share premium                       4,880                     449
 Share based payment reserve         704                       25
 Retained earnings                   (3,951)                   (600)
 TOTAL EQUITY                        2,011                     28

 NON-CURRENT LIABILITIES
 Provisions                          -                         -
 Lease liability                     -                         -
 TOTAL NON-CURRENT LIABILITIES       -                         -

 CURRENT LIABILITIES
 Trade and other payables            318                       132
 Deferred revenue                    -                         -
 Lease liability                     -                         -
 TOTAL CURRENT LIABILITIES           318                       132
 TOTAL LIABILITIES                   318                       132
 TOTAL EQUITY AND LIABILITIES        2,329                     160

 

The notes contained in the Company's Annual Report form part of these
financial statements.

The financial statements were approved by the Board of Directors on 29 June
2023 and were signed on its behalf by:

Nicholas Lyth

Director

The financial information set out in this announcement does not constitute
statutory accounts. This financial information has been extracted from the
audited full accounts of the Company for the year ended 28 February 2023. The
Company does not declare a dividend for the period.

The full Annual Report of the Company will be available on the Company's
website: playstreaks.com.

 

 

 

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