Motorsport Games Files Q3 2024 10-Q
Ticker: MSGM · Form: 10-Q · Filed: Nov 14, 2024 · CIK: 1821175
Sentiment: neutral
Topics: 10-Q, financials, reporting
TL;DR
MSGM Q3 10-Q is in. Check financials for latest performance.
AI Summary
Motorsport Games Inc. filed its 10-Q for the period ending September 30, 2024. The filing details financial performance and operational updates for the third quarter and the first nine months of the year. Specific financial figures and operational highlights are presented within the report.
Why It Matters
This filing provides investors with the latest financial health and operational status of Motorsport Games Inc., crucial for understanding the company's trajectory and investment potential.
Risk Assessment
Risk Level: medium — The company operates in a competitive industry and its financial performance can be volatile, requiring careful investor scrutiny.
Key Numbers
- 2024-09-30 — Reporting Period End Date (Indicates the end of the financial period covered by the report.)
- 2024-11-14 — Filing Date (The date the report was officially submitted to the SEC.)
Key Players & Entities
- Motorsport Games Inc. (company) — Filer of the 10-Q
- 20240930 (date) — End of the reporting period
- 20241114 (date) — Filing date
FAQ
What is the reporting period for this 10-Q filing?
The reporting period for this 10-Q filing is the nine months ended September 30, 2024.
When was this 10-Q filed with the SEC?
This 10-Q was filed on November 14, 2024.
What is the company's Standard Industrial Classification (SIC) code?
The company's SIC code is 7372, which falls under SERVICES-PREPACKAGED SOFTWARE.
What is the fiscal year end for Motorsport Games Inc.?
The fiscal year end for Motorsport Games Inc. is December 31.
What are the two main classes of common stock mentioned in the filing data?
The filing data mentions us-gaap:CommonClassAMember and us-gaap:CommonClassBMember.
Filing Stats: 4,388 words · 18 min read · ~15 pages · Grade level 20 · Accepted 2024-11-14 16:10:50
Key Financial Figures
- $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) — 1545KB
- ex31-1.htm (EX-31.1) — 18KB
- ex31-2.htm (EX-31.2) — 18KB
- ex32-1.htm (EX-32.1) — 9KB
- 0001493152-24-045867.txt ( ) — 6989KB
- msgm-20240930.xsd (EX-101.SCH) — 44KB
- msgm-20240930_cal.xml (EX-101.CAL) — 59KB
- msgm-20240930_def.xml (EX-101.DEF) — 247KB
- msgm-20240930_lab.xml (EX-101.LAB) — 396KB
- msgm-20240930_pre.xml (EX-101.PRE) — 329KB
- form10-q_htm.xml (XML) — 1139KB
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: