Motorsport Games Files Q2 2024 10-Q
Ticker: MSGM · Form: 10-Q · Filed: Aug 9, 2024 · CIK: 1821175
Sentiment: neutral
Topics: 10-Q, financials, quarterly-report
TL;DR
Motorsport Games dropped its Q2 10-Q. Check financials.
AI Summary
Motorsport Games Inc. filed its 10-Q for the period ending June 30, 2024. The company, incorporated in Florida, reported its financial status and business operations. Key financial data and operational details for the second quarter and the first half of 2024 are presented in this filing.
Why It Matters
This filing provides investors with an update on Motorsport Games' financial performance and operational status for the second quarter of 2024, crucial for understanding the company's trajectory.
Risk Assessment
Risk Level: medium — 10-Q filings are standard disclosures, but the company's specific financial health and market position determine the overall risk.
Key Numbers
- Q2 2024 — Reporting Period (Financials for the second quarter ending June 30, 2024.)
- H1 2024 — Reporting Period (Financials for the first half of 2024.)
Key Players & Entities
- Motorsport Games Inc. (company) — Filer of the 10-Q
- 20240630 (date) — End of reporting period
- 20240809 (date) — Filing date
- FL (location) — State of incorporation and business address
- 305-507-8799 (phone_number) — Business phone number
FAQ
What is the primary purpose of this 10-Q filing?
This 10-Q filing provides a comprehensive update on Motorsport Games Inc.'s financial performance and operational status for the quarterly period ending June 30, 2024.
When was this 10-Q filing submitted to the SEC?
The filing was submitted on August 9, 2024.
What is Motorsport Games Inc.'s state of incorporation?
Motorsport Games Inc. is incorporated in Florida (FL).
What is the business address of Motorsport Games Inc.?
The business address is 5972 NE 4TH AVENUE, MIAMI, FL 33137.
What fiscal year end does Motorsport Games Inc. observe?
The company's fiscal year ends on December 31.
Filing Stats: 4,405 words · 18 min read · ~15 pages · Grade level 20 · Accepted 2024-08-09 16:10:36
Key Financial Figures
- $0.0001 — hich registered Class A common stock, $0.0001 par value per share MSGM The Nasd
- $12 million — our future borrowing requests under the $12 million Line of Credit (as defined in this Repo
Filing Documents
- form10-q.htm (10-Q) — 1406KB
- ex31-1.htm (EX-31.1) — 18KB
- ex31-2.htm (EX-31.2) — 18KB
- ex32-1.htm (EX-32.1) — 9KB
- 0001493152-24-030976.txt ( ) — 6620KB
- msgm-20240630.xsd (EX-101.SCH) — 44KB
- msgm-20240630_cal.xml (EX-101.CAL) — 59KB
- msgm-20240630_def.xml (EX-101.DEF) — 256KB
- msgm-20240630_lab.xml (EX-101.LAB) — 402KB
- msgm-20240630_pre.xml (EX-101.PRE) — 336KB
- form10-q_htm.xml (XML) — 993KB
Management's Discussion and Analysis of Financial Condition and Results of Operations
Management's Discussion and Analysis of Financial Condition and Results of Operations 24 Item 3.
Quantitative and Qualitative Disclosures About Market Risk
Quantitative and Qualitative Disclosures About Market Risk 39 Item 4.
Controls and Procedures
Controls and Procedures 40 Part II. OTHER INFORMATION 41 Item 1.
Legal Proceedings
Legal Proceedings 41 Item 1A.
Risk Factors
Risk Factors 41 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 44 Item 3. Defaults Upon Senior Securities 44 Item 4. Mine Safety Disclosures 44 Item 5. Other Information 44 Item 6. Exhibits 45
Signatures
Signatures 46 i CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS This Quarterly Report on Form 10-Q (this "Report") of Motorsport Games Inc. (the "Company," "Motorsport Games," "we," "us" or "our") contains certain statements, which are not historical facts and are "forward-looking and uncertainties. Forward-looking statements give our current expectations and projections relating to our financial condition, results of operations, plans, objectives, strategies, future performance and business. You can identify forward-looking statements by the fact that they do not relate strictly to historical or current facts. We use words, such as "could," "would," "may," "might," "will," "expect," "likely," "believe," "continue," "anticipate," "estimate," "intend," "plan," "project" and other similar expressions to identify some forward-looking statements, but not all forward-looking statements include these words. For example, forward-looking statements include, but are not limited to, statements we make relating to: our liquidity and capital requirements, including, without limitation, as to our ability to continue as a going concern; our belief that we will not have sufficient cash on hand to fund our operations over the next year based on the cash and cash equivalents available and our average cash burn; our belief that additional funding will be required in order to continue operations; our expectation that we will continue to have a net cash outflow from operations for the foreseeable future as we continue to develop our product portfolio and invest in developing new video game titles; our expectation that we will continue to incur losses for the foreseeable future as we continue to incur significant expenses; our plans to address our liquidity short fall, including our exploration of several options, including, but not limited to: a