Yesterday there was a financial report from Motorsport Games about the last quarter and the entire past year. Results were offered and some information was released to the shareholders that you can obtain on their website and in the section for this purpose that they have by clicking on the following link.
As some of you know, this company is not going through its best moment, if it can be called that, and it always has serious financing problems. We already made a summary of the data that you have on the internet, and that are not encouraging for its immediate or medium-term future in this article.
The most important news of this shareholder call has been revealed in the webcast (it is not in the written documents) and that we get through a Twitter user and you can listen here:
And here’s the IndyCar ’23 bombshell(not really boblmbshell news)… so.. IndyCar, you regretting that exclusivity deal w/ Motorsport Games yet? pic.twitter.com/UjesDMFOfj
—JPet27 (@JPetschauer) March 24, 2023
What it says is that the Indycar game, of those who have the exclusive license, will not be able to launch this year.
Another Twitter user reveals another text of the reasons why this does not seem feasible:
Just about the only guy who’d be willing to give them a loan at this point would be Scott Tucker pic.twitter.com/HhM54AMD4f
— Dexter Capital (@timothy_dexter_) March 24, 2023
It basically says that the company does not have cash (at the rate it spends) to end the year and undertake such a development operation, so it has to look for other financing methods right now if it wants to finish 2023.
The dissolution clauses of the contract with indycar associated with the malfunction of the company are arranged below under the heading of Term Termination in the following agreement that they signed.
