Motorsport Games Announces Sale of Traxion [Yahoo! Finance]
Motorsport Games Inc. - Class A (MSGM)
Company Research
Source: Yahoo! Finance
Games”), a racing game developer, publisher, and esports ecosystem provider of official motorsport racing series throughout the world, is today announcing the sale of its gaming media outlet Traxion to Traxion.GG Ltd, a UK subsidiary of Grid Finder Ltd for $250,000. This strategic decision continues Motorsport Games' ongoing efforts to streamline operations, reduce operational costs and sell off components not considered core to the future of the business. The sale is expected to allow Motorsport Games to focus more intensely on development of high-quality racing games with $200,000 of the deal in cash and $50,000 in future marketing efforts through the outlet. Motorsport Games retains the option to access the video platforms for future broadcasts of the Le Mans Virtual Series and 24 Hours of Le Mans Virtual. “This transaction is another component piece in our strategy to leverage elements of market value, bringing cash into the business whilst doubling-down on our primary focus –
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MSGM
Earnings
- 8/21/23 - Miss
MSGM
Sec Filings
- 5/7/24 - Form 10-Q
- 5/7/24 - Form 8-K
- 5/1/24 - Form 8-K
- MSGM's page on the SEC website