1.4 million gold ounces M&I

El Dorado gold project in El Salvador

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AGORACOM NEWS FLASH

BREAKING: Esports Entertainment Group Releases Upgraded VIE.GG Esports Gambling Platform

  • Announced the release of the latest version of VIE.gg (https://vie.gg)  the Company’s esports wagering platform
  • Latest upgrade delivers notable new features, including additional betting options such as Fixed Odds, Pari-mutuel, Fantasy and Pool Betting to complement main P2P option
  • Grant Johnson, CEO of Esports Entertainment Group, stated "This is another major milestone for our Company. This is our strongest release ever, with every new feature esports gambling enthusiasts could wish for in a platform..."
Message: Working Capital - October 31, 2011

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At October 31, 2011, the value of the Company's current assets was $3.0 million, compared to $1.2 million at April 30, 2011, an increase of $1.8 million.

The increase in current assets from the end of fiscal 2010 to the end of Q2 2012 is primarily a result of the addition of cash from the sale of securities under a private placement financing as outlined in Section 5.3 above, offset by expenditures of cash on exploration and general and administrative costs as well as expenditures related to PacRim's CAFTA/ILES action.

Resource property balances at October 31, 2011 were negligibly higher than the April 30, 2011 balance ($5.49 million and $5.45 million respectively).

At October 31, 2011 the Company had current liabilities of $1.5 million, marginally lower than the April 30, 2011 balance of $1.6 million due to a slight decrease in accounts payable and accrued liabilities.

Of the accounts payable and accrued liability balances, $1.4 million at both October 31, 2011 and April 30, 2011 is due to one vendor associated with PacRim's arbitration action.

The $1.8 million increase in current assets combined with the marginal decrease in current liabilities, resulted in a $1.9 million increase in working capital from $(0.4) million at the end of fiscal 2011 to $1.5 million at the end of Q2 2012.

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