Gaming

Wall Street Reporter, the trusted name in financial news since 1843, has published reports on the latest comments and insights from CEO's of: Snowflake Inc. (NYSE: SNOW), Nextech AR Solutions (OTC: NEXCF) (CSE: NTAR), Smart for Life (NASDAQ: SMFL), AIML Innovations (OTC: AIMLF) (CSE: AIML) and Tesla, Inc. (NASDAQ: TSLA). Today's emerging technologies and lifestyle megatrends are creating billion dollar opportunities for disruptive innovation in how we live, work and play. Wall Street Reporter highlights the latest comments from industry thought leaders shaping our world today, and in the decades ahead:

Tesla, Inc. (NASDAQ: TSLA) CEO Elon Musk: "Robotaxi Next Massive Driver of Growth"
"We ramped production with Giga Berlin and Giga Texas in the past few months. With two fantastic factories with great teams, they are ramping rapidly. With new factories, the initial ramp always looks small, but it grows exponentially. So, I have very high confidence in the teams of both factories. We expect to ramp those initially slowly, but like I said, growing exponentially with them achieving high volume by the end of this year. We're also working on a new vehicle that I alluded to at the Giga Texas opening, which is a dedicated robotaxi. That's highly optimized for autonomy, meaning it would not have steering wheel or pedals. And there are a number of other innovations around it that I think are quite exciting. That is fundamentally optimized for -- trying to achieve the lowest fully considered cost per mile or cost per kilometer, accounting everything. I think, going to be a very powerful product where we aspire to reach volume production of that in 2024. I think that really will be a massive driver of Tesla's growth. And we remain on track to reach volume production of the Cybertruck next year…"
Tesla, Inc. (NASDAQ: TSLA) Earnings Highlights: https://www.wallstreetreporter.com/2022/04/21/tesla-inc-nasdaq-tsla-q1-2022-earnings-highlights/

NexTech AR Solutions (OTC: NEXCF) (CSE: NTAR) CEO Evan Gappelberg: "On-Ramp to Web 3.0 for $5.5 Trillion E-Commerce Market"
NexTech AR (OTC: NEXCF), a featured presenter at Wall Street Reporter's "Next Super Stock" investor conference series, recently shared with investors how NEXCF is emerging as a key player in the $5.5 trillion global e-commerce market transition to web 3.0 and the metaverse. NEXCF Augmented Reality solutions enable to view products in lifelike 3D, in their own living room. This AR shopping experience bridges the gap between the physical world, and what was once a flat 2D online e-commerce experience. NEXCFs AR shopping experience is a "game changer" for the 5.5 trillion global e-commerce industry (source: Statisa 2022).
Watch NEXT SUPER STOCK (OTC: NEXCF) (CSE: NTAR) Video: https://www.wallstreetreporter.com/2022/04/06/next-super-stock-nextech-ar-otc-nexcf-cse-ntar-on-ramp-to-metaverse-web-3-0-for-5-trillion-e-commerce-market/

NEXCF AR solutions create billions of dollars in potential profitability and cost cost-savings for e-commerce leaders by driving +93% increases in click through rate, and -40% reductions in product returns. This value creation and ROI is driving growing demand and industry adoption of NEXCF AR solutions. Nearly 2 billion of the world's population now shops online. Most importantly, over 72% of e-commerce is now done by mobile phone - a native platform for Augmented Reality apps like NEXCF. Global blue chip brands utilizing NexTech AR, include: Ford Mach EV, Kohls, CB2, Crate & Barrel, Pier 1, and Segway.

"NexTech's AR solutions are rapidly becoming a ‘must-have' for e-commerce leaders to succeed in today's hyper-competitive market, where even marginal improvements in metrics like click-though and return-rates can mean the difference of billions of dollars to a company's bottom line…We're at an inflection point now, where industry demand and adoption for NexTech's AR is accelerating and going mainstream. As E-Commerce shifts to Web 3.0 and the Metaverse, the demand for AR/3D product models becomes essential. NexTech is emerging as the ‘on ramp' to the Metaverse and Web 3.0 for the $5.5 trillion e-commerce industry. With over 200 million product SKU's in e-commerce worldwide - NexTech has a potential revenue pipeline worth billions of dollars in coming years."
Watch NEXT SUPER STOCK (OTC: NEXCF) (CSE: NTAR) Video: https://www.wallstreetreporter.com/2022/04/06/next-super-stock-nextech-ar-otc-nexcf-cse-ntar-on-ramp-to-metaverse-web-3-0-for-5-trillion-e-commerce-market/

June 3 - NEXCF announces Spin Out of ARitize Maps, Metaverse mapping platform into separate public company, creating "pure play" for investors seeking metaverse assets, and unleashing value for NEXCF shareholders.
Watch VIDEO Discussion on ARitize Maps Spinout and Demo:
https://www.wallstreetreporter.com/2022/06/09/next-super-stock-nextech-ar-otc-nexcf-cse-ntar-spinning-out-ar-metaverse-maps-unleashing-shareholder-value-6-8-22-livestream/

AI/ML Innovations (OTC: AIMLF) (CSE: AIML) Chairman, Tim Daniels: "AI/ML Holds Key Patents for Multi-Billion Dollar Healthcare Wearables Market"
AI/ML Innovations (OTC: AIMLF), a featured presenter at Wall Street Reporter's "Next Super Stock" investor conference series, recently updated investors on growth initiatives at AIMLF's portfolio of digital health businesses including HealthGauge, a wearable personal health monitoring & management system, using Artificial Intelligence and Machine Learning, and Tech2Heal a European mental health app innovator.

Of significant interest for investors is AIMLF's landmark patent position for wearable health monitors - which could position AIMLF to collect licensing fees and royalties on the $13.8 Billion global Smart Wearable Healthcare Devices (projected to reach $37.4 Billion by 2028. Source: Verified Market Research.) AIMLF is now starting to license its technologies to health wearables companies, and collecting royalties. With typical royalties of 2% of gross sales, AIMLF could potentially generate significant recurring revenues from companies infringing on its broad patent position in the nearly $14 billion health wearables market.
Watch AI/ML Innovations (OTC: AIMLF) (CSE: AIML) NEXT SUPER STOCK Video:
https://www.wallstreetreporter.com/2022/05/31/next-super-stock-ai-ml-billion-dollar-patent/

AIMLF's Health Gauge subsidiary, has recently been granted a patent by the United States Patent and Trademark Office (US Patent No. 11183303), titled "Wearable Health Monitors and Methods of Monitoring Health". The Patent covers Cardiovascular monitoring, Predictive health analysis, Behavioral analysis and 64 other claims, including use of multiple configurations of wearable health monitors, in conjunction with methods of analyzing bio-signals and monitoring health metrics (via Health Gauge's AI-driven software) for the purpose of assisting the user in achieving their personal health and wellness objectives.

AIMLF is reporting advancing growth at its portfolio company Tech2Heal, a European mental health app innovator. Tech2Heal is positioned for explosive revenue growth as European healthcare mandates now provide about 2,500 Euro per patient annually for mental wellness. Tech2Heal has just signed with a French multinational manufacturer, to provide mental wellness support to their 170,000 employees globally, and additional Enterprise contracts are in the pipeline. Tim Daniels also updated investors on AIML's growing pipeline of M&A opportunities in the HealthTech space, which could have a positive impact on maximizing shareholder value in coming months.
Watch AI/ML Innovations (OTC: AIMLF) (CSE: AIML) NEXT SUPER STOCK Video:
https://www.wallstreetreporter.com/2022/05/31/next-super-stock-ai-ml-billion-dollar-patent/

Snowflake Inc. (NYSE: SNOW) CEO Frank Slootman: "Data is Beating Heart of Modern Enterprise"
"...Enterprises and institutions have grown acutely aware how much they will end up relying on data operations, data analytics, and data science. Data is becoming the beating heart of the modern enterprise. So, the race is on to lay the foundation for a digital data driven infrastructure. Snowflake is and will be a critical enabler of this journey…We saw momentum accelerate in Q3 with product revenues growing 110% year-on-year to $312 million and remaining performance obligations growing to $1.8 billion. The net revenue retention rate expanded to 173% and we recorded our first positive non-GAAP operating income in the company's history….Our growth is driven by a diverse mix of customers, the 10 largest consumers in Q3 include four Fortune 500 companies, four companies less than 10 years old, and a Powered By Snowflake program partner..."
Snowflake Inc. (NYSE: SNOW) Earnings Highlights: https://www.wallstreetreporter.com/2022/02/07/snowflake-inc-nyse-snow-q3-2021-earnings-highlights/

WALL STREET REPORTER

Wall Street Reporter (Est. 1843) is the leading financial news provider, focused on giving investors direct access to CEO's of promising, publicly-traded companies, and market experts. www.WallStreetReporter.com . Nothing in this news summary shall be construed as investment advice. Quotes/content may be edited for brevity and context. Full disclaimer, and relevant SEC 17B disclosures here: https://tinyurl.com/2x4eznd5

About Wall Street Reporter's Next Super Stock conference:

Wall Street Reporter's NEXT SUPER STOCK Live! conference is dedicated to featuring select companies that have near-term catalysts in place which can drive transformational growth (and stock appreciation) in the months ahead. Click here to join next livestream event: https://www.wallstreetreporter.com/next-superstock-online-investor-conference/

CONTACT:

WALL STREET REPORTER

(212) 871-2057 ext 7

www.WallStreetReporter.com



News Provided by GlobeNewswire via QuoteMedia

TSLA
Tesla Announces a Three-for-One Stock Split

Tesla Announces a Three-for-One Stock Split

Tesla, Inc. ("Tesla") announced today that the Board of Directors has approved and declared a three-for-one split of Tesla's common stock in the form of a stock dividend to make stock ownership more accessible to employees and investors. Each stockholder of record on August 17, 2022 will receive a dividend of two additional shares of common stock for each then-held share, to be distributed after close of trading on August 24, 2022. Trading will begin on a stock split-adjusted basis on August 25, 2022.

Forward-Looking Statements

News Provided by Business Wire via QuoteMedia

Keep reading...Show less
Tesla Releases Second Quarter 2022 Financial Results

Tesla Releases Second Quarter 2022 Financial Results

Tesla has released its financial results for the second quarter of 2022 by posting an update on its Investor Relations website. Please visit https://ir.tesla.com to view the update.

As previously announced, Tesla management will host a live question and answer (Q&A) webcast at 4:30 p.m. Central Time (5:30 p.m. Eastern Time) to discuss the results and outlook.

News Provided by Business Wire via QuoteMedia

Keep reading...Show less
Tesla Vehicle Production & Deliveries and Date for Financial Results & Webcast for Second Quarter 2022

Tesla Vehicle Production & Deliveries and Date for Financial Results & Webcast for Second Quarter 2022

In the second quarter, we produced over 258,000 vehicles and delivered over 254,000 vehicles, despite ongoing supply chain challenges and factory shutdowns beyond our control. June 2022 was the highest vehicle production month in Tesla's history.

Production

Tesla will post its financial results for the second quarter of 2022 after market close on Wednesday, July 20, 2022. At that time, Tesla will issue a brief advisory containing a link to the Q2 2022 update, which will be available on Tesla's Investor Relations website. Tesla management will hold a live question and answer webcast that day at 4:30 p.m. Central Time (5:30 p.m. Eastern Time) to discuss the Company's financial and business results and outlook.

What : Date of Tesla Q2 2022 Financial Results and Q&A Webcast
When : Wednesday, July 20, 2022
Time : 4:30 p.m. Central Time / 5:30 p.m. Eastern Time
Q2 2022 Update : https://ir.tesla.com
Webcast : https://ir.tesla.com (live and replay)

Approximately two hours after the Q&A session, an archived version of the webcast will be available on the Company's website.

For additional information, please visit https://ir.tesla.com .

Our net income and cash flow results will be announced along with the rest of our financial performance when we announce Q2 earnings. Tesla vehicle deliveries represent only one measure of the company's financial performance and should not be relied on as an indicator of quarterly financial results, which depend on a variety of factors, including the cost of sales, foreign exchange movements and mix of directly leased vehicles.

Investor Relations Contact:
ir@tesla.com

News Provided by Business Wire via QuoteMedia

Keep reading...Show less
EV Nickel Logo

EV Nickel: Accelerating the Transition to Clean Energy

EV Nickel (TSXV:EVNI) is looking to fill the huge demand for the base metal. The company’s prospective Langmuir Nickel project is a high-grade nickel sulfide project with a historical resource with 30 kilometers of additional strike length on the property. EV Nickel boasts a significant land package of approximately 9,100 hectares that is strategically located in the Shaw Dome, near multiple nickel end users, including Tesla (NASDAQ:TSLA), Detroit Peers, NIO (NYSE:NIO), SBE Canada and Rivian Automotive (NASDAQ:RIVN).

Keep reading...Show less
Noram Lithium

Noram Lithium: Advancing the 100% Controlled High-Grade Zeus Project in Clayton Valley, Nevada

Noram Lithium (TSXV:NRM; OTCQB:NRVTF; FRA:N7R) advances its flagship Zeus project, a high-grade lithium project that spans 2,800 acres, located adjacent to Albemarle’s Silver Peak Lithium Mine, with extensive infrastructure including power at site a paved highway directly to the project. It is also in the same state as Tesla’s (NASDAQ:TSLA) first Gigafactory.

Keep reading...Show less

BORA holding KBW2022 "BORA NEXT" Announcing the establishment of "cross chain" to lead the global web 3.0 market

  • BORA to launch the onboarding service in the second half based on its solid groundwork such as DEX, NFT and Portal
  • Establishing a cross chain to widen the global ecosystem and user liquidity contact point

BORANETWORK (CEO Gyehan Song), a blockchain-based content platform operator, held a conference on 8th for BORA in the Korea Blockchain Week 2022 (hereinafter the "KBW2022"), which is the largest blockchain event in Asia .

BORA holding KBW2022 "BORA NEXT" Announcing the establishment of "cross chain" to lead the global web 3.0 market.

During this conference, BORANETWORK and KakaoGames presented the business status of BORA and the future direction for the expansion of the ecosystem in partnership with Polygon, an Ethereum scaling platform, to the media under the theme, BORA NEXT: Expanding Across & Beyond.

Representative Kyehyun Cho of Kakao Games disclosed BORA's onboarding services that will be released in the second half of this year, including METABORA's BIRDIE SHOT, XL Games' ArcheWorld and Rising Wings' COMPETZ, along with the line-up such as a casual battle, BORA Battle (working title), a sports simulation, Baseball the BLOCK (working title) and a screen golf, Friends Screen NFT (working title).

In the event, co-representative Sangjoon Woo of METABORA announced to establish a "cross chain" environment to widen the global ecosystem of BORA and user liquidity, and has announced a partnership with Polygon as its first step.

BORA plans to expand BORA portal marketplace ecosystem with Polygon NFT compatibility, through the partnership with Polygon. Polygon will provide technical support to BORA and help onboard BORA's partners and NFT IPs to the Polygon ecosystem.

Urvit Goel, Head of Global Games Business Development at Polygon, said: "We're delighted to be working with BORA to help them expand liquidity and introduce greater composability to their gaming ecosystem. By leveraging Polygon, BORA NEXT users will benefit from low fees and fast transactions while tapping into the Ethereum network's inherent security. Polygon is committed to supporting developers in Korea and look forward to partnering with the best to growing blockchain gaming adoption globally"

Co-representative Sangjoon Woo of Metabora said "we came to establish a cross chain with global blockchain platforms to establish an environment easily accessible by users across the world," adding "we are planning to explore various ways and develop various contents by closely working with many partners to keep the ecosystem of BORA growing.

Meanwhile, BORA has opened BORA PORTAL where all contents services of BORA in game, entertainment and sports are put up in one spot and keeps developing a digital content-specialized blockchain ecosystem by attracting about 20 companies renowned in blockchain technology, game and intellectual property (IP) into the governance council.

#APPENDIX

BORA PORTAL URL: https://boraportal.com/

BORA website URL: https://borachain.io/

KBW2022 website URL: https://koreablockchainweek.com/

Press release contacts

Deputy Head, Seungmin Lee at METABORA, kelly.meta@metabora.io

Manager, Dongwan Ha at METABORA, allen.meta@metabora.io

About BORANETWORK

As a subsidiary of METABORA, a casual and blockchain game developer, and a developer of blockchain platform BORA, BORANETWORK is servicing user-friendly blockchain-based games and entertainment contents based on a myriad of experiences in development and service.

BORA Platform is associated with various partners across the industries capable of bringing a shift and advance in tokenomics, content and blockchain technology, and covers a range of contents from game to entertainment to guild DAO through an aggressive eco fund investment and partnership. Also, it is developing services optimized to GameFi such as NFT trading, token exchange and DeFi by running BORA Portal.

BORA is a national game/entertainment token with a high liquidity in the market and reinforcing the accessibility of users and services abroad by increasing the listing on global cryptocurrency exchanges and expanding partnership.

About Polygon

Polygon is the leading blockchain development platform, offering scalable, affordable, secure and sustainable blockchains for Web3. Its growing suite of products offers developers easy access to major scaling solutions including L2 (ZK Rollups and Optimistic Rollups), sidechains, hybrid, stand-alone and enterprise chains, and data availability. Polygon's scaling solutions have seen widespread adoption with 19,000+ decentralized applications hosted, 1.6B+ total transactions processed, 142M+ unique user addresses, and $5B+ in assets secured. Polygon is carbon neutral with the goal of leading the Web3 ecosystem in becoming carbon negative.

BORANETWORK and KakaoGames, in partnership with Polygon, an Ethereum scaling platform.

Cision View original content to download multimedia: https://www.prnewswire.com/news-releases/bora-holding-kbw2022-bora-next-announcing-the-establishment-of-cross-chain-to-lead-the-global-web-3-0-market-301601313.html

SOURCE BORANETWORK

News Provided by PR Newswire via QuoteMedia

Keep reading...Show less

SOHU.COM REPORTS SECOND QUARTER 2022 UNAUDITED FINANCIAL RESULTS

Sohu.com Limited (NASDAQ: SOHU) ("Sohu" or the "Company"), China's leading online media, video, and game business group, today reported unaudited financial results for the second quarter ended June 30, 2022.

Sohu logo. (PRNewsFoto/Sohu.com Inc.)

Second Q uarter Highlights

  • Total revenues were US$195 million [1] , down 5% year-over-year and up 1% quarter-over-quarter.
  • Brand advertising revenues were US$25 million, down 32% year-over-year and up 5% quarter-over-quarter.
  • Online game revenues were US$157 million, up 4% year-over-year and flat quarter-over-quarter.
  • GAAP net income [2] attributable to Sohu.com Limited was US$9 million, compared with net income of US$22 million in the second quarter of 2021 and net income of US$3 million in the first quarter of 2022.
  • Non-GAAP [3] net income attributable to Sohu.com Limited was US$12 million, compared with net income of US$25million in the second quarter of 2021 and net income of US$9 million in the first quarter of 2022.

Dr. Charles Zhang , Chairman and CEO of Sohu.com Limited, commented, "In the second quarter of 2022, COVID-19 and related prevention measures disrupted normal economic activity nationwide. We met the challenge proactively, by refining our products and technology and exploring a range of monetization opportunities. Our brand advertising revenue met the high end of our previous guidance during the quarter. Thanks to the solid performance of our online game business, our profitability exceeded guidance. For Sohu Media Portal and Sohu Video, we continued to generate and distribute reliable news and premium content, reinforcing our competitiveness and credibility as a mainstream media platform. Leveraging the differentiated advantages of the Sohu product matrix, we extended our live broadcasting to a greater number of scientific fields and to various online and offline events. For online games, our performance was stable during the quarter, with revenues in line with our guidance."

Second Quarter Financial Results

Revenues

Total revenues were US$195 million , down 5% year-over-year and up 1% quarter-over-quarter.

Brand advertising revenues were US$25 million, down 32% year-over-year and up 5% quarter-over-quarter.

Online game revenues were US$157 million, up 4% year-over-year and flat quarter-over-quarter.

Gross Margin

Both GAAP and non-GAAP gross margin were 73%, compared with 76% in the second quarter of 2021 and 75% in the first quarter of 2022.

GAAP gross margin for the brand advertising business was 4%, compared with 27% in the second quarter of 2021 and 2% in the first quarter of 2022. Non-GAAP gross margin for the brand advertising business was 4%, compared with 28% in the second quarter of 2021 and 2% in the first quarter of 2022. The margin decrease was mainly due to the decrease in brand advertising revenues.

Both GAAP and non-GAAP gross margin for online games were 84%, compared with 89% in the second quarter of 2021 and 86% in the first quarter of 2022.

Operating Expenses

GAAP operating expenses were US$132 million, up 1% year-over-year and flat quarter-over-quarter. Non-GAAP operating expenses were US$130 million, up 2% year-over-year and flat quarter-over-quarter.

O perating Profit

GAAP operating profit was US$10 million, compared with an operating profit of US$25 million in the second quarter of 2021 and an operating profit of US$13 million in the first quarter of 2022.

Non-GAAP operating profit was US$11 million, compared with an operating profit of US$28 million in the second quarter of 2021 and an operating profit of US$14 million in the first quarter of 2022.

Income Tax Expense

GAAP income tax expense was US$17 million, compared with income tax expense of US$11 million in the second quarter of 2021 and income tax expense of US$17 million in the first quarter of 2022. Non-GAAP income tax expense was US$16 million , compared with income tax expense of US$9 million in the second quarter of 2021 and income tax expense of US$17 million in the first quarter of 2022. Income tax expense in the second quarter of 2021 included a one-time tax benefit of US$9 million recognized after final settlement of income tax due for 2020.

Net Income

GAAP net income attributable to Sohu.com Limited was US$9 million, or net income of US$0 .25 per fully-diluted ADS, compared with net income of US$22 million in the second quarter of 2021 and net income of US$3 million in the first quarter of 2022.

Non-GAAP net income attributable to Sohu.com Limited was US$12 million, or net income of US$0 .36 per fully-diluted ADS, compared with net income of US$25 million in the second quarter of 2021 and net income of US$9 million in the first quarter of 2022.

Liquidity and Capital Resources

As of June 30, 2022 , cash and cash equivalents, short-term investments and long-term time deposits totaled approximately US$1.46 billion .

Supplementary Information for Changyou Results [4]

Second Quarter 2022 Operating Results

  • For PC games, total average monthly active user accounts [5] (MAU) were 2.3 million, an increase of 7% year-over-year and 13% quarter-over-quarter. Total quarterly aggregate active paying accounts [6] (APA) were 1.0 million, an increase of 15% year-over-year and 6% quarter-over-quarter. The increases in both MAU and APA were mainly from TLBB Vintage, which was launched on the WeGame platform during the quarter.
  • For mobile games, total average MAU were 2.0 million, an increase of 7% year-over-year and a decrease of 14% quarter-over-quarter. The year-over-year increase was mainly from games launched during recent quarters, including Little Raccoon: Heroes and Bright Stars. The quarter-over-quarter decrease mainly resulted from the natural decline of Bright Stars. Total quarterly APA were 0.4 million, a decrease of 13% year-over-year and 20% quarter-over-quarter. The year-over-year decrease was mainly due to the natural decline of older games, including TLBB Honor and Legacy TLBB Mobile. The quarter-over-quarter decrease was mainly from Bright Stars.

Second Quarter 2022 Unaudited Financial Results

Total revenues were US$159 million , an increase of 3% year-over-year and flat quarter-over-quarter. Online game revenues were US$157 million , an increase of 4% year-over-year and flat quarter-over-quarter. Online advertising revenues were US$2 million , a decrease of 30% year-over-year and 2% quarter-over-quarter.

GAAP and non-GAAP gross profit were both US$133 million , a decrease of 2% year-over-year and 3% quarter-over-quarter.

GAAP operating expenses were US$49 million , a decrease of 23% year-over-year and 10% quarter-over-quarter. Non-GAAP operating expenses were US$48 million , a decrease of 23% year-over-year and 10% quarter-over-quarter. The year-over-year decrease was mainly due to a decrease in marketing and promotional spending for online games, as well as a decrease in bonus expenses. The quarter-over-quarter decrease was mainly due to a decrease in outsourcing and licensing fees related to product development.

GAAP operating profit was US$84 million , compared with an operating profit of US$73 million for the second quarter of 2021 and US$83 million for the first quarter of 2022.

Non-GAAP operating profit was US$85 million , compared with a non-GAAP operating profit of US$75 million for the second quarter of 2021 and US$85 million for the first quarter of 2022.

Business Outlook

For the third quarter of 2022, Sohu estimates:

  • Brand advertising revenues to be between US$25 million and US$28 million ; this implies an annual decrease of 17% to 26%, and a sequential increase of nil to 12%.
  • Online game revenues to be between US$138 million and US$148 million ; this implies an annual decrease of 11% to 17%, and a sequential decrease of 6% to 12%.
  • Non-GAAP net loss attributable to Sohu.com Limited to be between US$35 million and US$25 million ; and GAAP net loss attributable to Sohu.com Limited to be between US$38 million and US$28 million.

For the third quarter 2022 guidance, the Company has adopted a presumed exchange rate of RMB6.75 = US$1.00 , as compared with the actual exchange rate of approximately RMB6.47 = US$1.00 for the third quarter of 2021, and RMB6.61 = US$1.00 for the second quarter of 2022.

This forecast reflects Sohu's management's current and preliminary view, which is subject to substantial uncertainty, particularly in view of the potential ongoing impact of the worldwide COVID-19 pandemic, which remains difficult to predict.

Non-GAAP Disclosure

To supplement the unaudited consolidated financial statements presented in accordance with accounting principles generally accepted in the United States of America ("GAAP"), Sohu's management uses non-GAAP measures of gross profit, operating profit, net income, net income attributable to Sohu.com Limited and diluted net income attributable to Sohu.com Limited per ADS, which are adjusted from results based on GAAP to exclude the impact of share-based compensation expense; changes in fair value recognized in the Company's consolidated statements of operations with respect to equity investments with readily determinable fair values; an impairment charge recognized for an investment unrelated to the Company's core businesses; and interest expense recognized in connection with the Toll Charge imposed by the U.S. TCJA. These measures should be considered in addition to results prepared in accordance with GAAP, but should not be considered a substitute for, or superior to, GAAP results.

Sohu's management believes excluding share-based compensation expense; changes in fair value recognized in the Company's consolidated statements of operations with respect to equity investments with readily determinable fair values; the impairment charge recognized for an investment unrelated to the Company's core businesses; and interest expense recognized in connection with the Toll Charge from its non-GAAP financial measure is useful for itself and investors. Further, the impact of share-based compensation expense; changes in fair value recognized in the Company's consolidated statements of operations with respect to equity investments with readily determinable fair values; the impairment charge recognized for an investment unrelated to the Company's core businesses; and interest expense recognized in connection with the Toll Charge cannot be anticipated by management and business line leaders and these expenses were not built into the annual budgets and quarterly forecasts that have been the basis for information Sohu provides to analysts and investors as guidance for future operating performance. As the impact of share-based compensation expense, changes in fair value recognized in the Company's consolidated statements of operations with respect to equity investments with readily determinable fair values, and the impairment charge recognized for an investment unrelated to the Company's core businesses does not involve subsequent cash outflow or is reflected in the cash flows at the equity transaction level, Sohu does not factor this impact in when evaluating and approving expenditures or when determining the allocation of its resources to its business segments. As a result, in general, the monthly financial results for internal reporting and any performance measures for commissions and bonuses are based on non-GAAP financial measures that exclude share-based compensation expense, changes in fair value recognized in the Company's consolidated statements of operations with respect to equity investments with readily determinable fair values, and the impairment charge recognized for an investment unrelated to the Company's core businesses, and also excluded the interest expense recognized in connection with the Toll Charge.

The non-GAAP financial measures are provided to enhance investors' overall understanding of Sohu's current financial performance and prospects for the future. A limitation of using non-GAAP gross profit, operating profit, net income, net income attributable to Sohu.com Limited and diluted net income attributable to Sohu.com Limited per ADS excluding share-based compensation expense; changes in fair value recognized in the Company's consolidated statements of operations with respect to equity investments with readily determinable fair values;  and interest expense recognized in connection with the Toll Charge is that these excluded items have been and will continue to be significant recurring expenses in Sohu's business for the foreseeable future and similar impairment charges may also recur. In order to mitigate these limitations Sohu has provided specific information regarding the GAAP amounts excluded from each non-GAAP measure. The accompanying tables include details on the reconciliation between the GAAP financial measures that are most directly comparable to the non-GAAP financial measures that have been presented.

Notes to Financial Information

Financial information in this press release other than the information indicated as being non-GAAP is derived from Sohu's unaudited financial statements prepared in accordance with GAAP.

Safe Harbor Statement

This announcement contains forward-looking statements. It is currently expected that the Business Outlook will not be updated until release of Sohu's next quarterly earnings announcement; however, Sohu reserves right to update its Business Outlook at any time for any reason. Statements that are not historical facts, including statements about Sohu's beliefs and expectations, are forward-looking statements. These statements are based on current plans, estimates and projections, and therefore you should not place undue reliance on them. Forward-looking statements involve inherent risks and uncertainties. We caution you that a number of important factors could cause actual results to differ materially from those contained in any forward-looking statement. Potential risks and uncertainties include, but are not limited to, instability in global financial and credit markets and its potential impact on the Chinese economy; exchange rate fluctuations, including their potential impact on the Chinese economy and on Sohu's reported U.S. dollar results; recent slow-downs in the growth of the Chinese economy; the uncertain regulatory landscape in the People's Republic of China ; fluctuations in Sohu's quarterly operating results; the possibilities that Sohu will be unable to recoup its investment in video content and will be unable to develop a series of successful games for mobile platforms or successfully monetize mobile games it develops or acquires; Sohu's reliance on online advertising sales and online games for its revenues; the impact of the U.S. TCJA; the effects of the COVID-19 pandemic on the economy in China in general and on Sohu's business in particular; and the possibility that, unless an accommodation is reached between the SEC and the China Securities Regulatory Commission, the U.S. Holding Foreign Companies Accountable Act and rules of the SEC thereunder may cause the SEC to prohibit trading of Sohu's ADSs on Nasdaq, any other U.S. stock exchange, or the U.S. over-the-counter markets beginning in 2024 or, if currently pending legislation becomes law, 2023.  Further information regarding these and other risks is included in Sohu's annual report on Form 20-F for the year ended December 31, 2021 , and other filings with and information furnished to the Securities and Exchange Commission.

Conference Call and Webcast

Sohu's management team will host a conference call at 7:30 a.m. U.S. Eastern Time, August 8, 2022 (7:30 p.m. Beijing / Hong Kong time, August 8, 2022 ) following the quarterly results announcement. Participants can register for the conference call by clicking here , which will lead them to the conference registration website. Upon registration, participants will receive details for the conference call, including the dial-in numbers and a unique access PIN. Please dial in 10 minutes before the call is scheduled to begin.

The live Webcast and archive of the conference call will be available on the Investor Relations section of Sohu's Website at http://investors.sohu.com/ .

About Sohu.com

Sohu.com Limited (NASDAQ: SOHU) was established by Dr. Charles Zhang , one of China's internet pioneers, in the 1990s. As a mainstream media platform in China , Sohu is indispensable to the daily life of millions of Chinese, providing a network of web properties and community based products which continually offer a broad array of choices regarding information, entertainment and communication to the vast number of Sohu users. Sohu has built one of the most comprehensive matrices of Chinese language web properties, consisting of the leading online media destinations Sohu News App, mobile news portal m.sohu.com , PC portal www.sohu.com ; online video website tv.sohu.com ; and the online games platform www.changyou.com/en/ .

Sohu provides online brand advertising services as well as multiple news, information and content services on its matrix of websites and also on its mobile platforms. Sohu's online game business, conducted by its subsidiary Changyou, develops and operates a diverse portfolio of PC and mobile games, such as Tian Long Ba Bu ("TLBB"), one of the most popular PC games in China . Changyou also owns and operates the 17173.com Website, a game information portal in China .

For investor and media inquiries, please contact:

In China :

Ms. Pu Huang

Sohu.com Limited

Tel:

+86 (10) 627 2 -6645

E-mail:

ir@contact.sohu.com

In the United States :

Ms. Linda Bergkamp

Christensen

Tel:

+1 (480) 614-3004

E-mail:

lbergkamp@christensenir.com

[1] On a constant currency (non-GAAP) basis, if the exchange rate in the second quarter of 2022 had been the same as it was in the second quarter of 2021, or RMB6.46 = US$1.00 , US$ total revenues in the second quarter of 2022 would have been US$199 million , or US$4 million more than GAAP total revenues, and down 3% year-over-year.
[2] Following the completion on September 23, 2021 of the transaction with Tencent related to Sogou, Sohu no longer has any ownership interest in Sogou. Unless indicated otherwise, results presented in this release exclude results from Sogou operations. For historical statements, the results of operations of Sogou and the gain from its disposal are presented in separate line items as discontinued operations.
[3] Non-GAAP results exclude share-based compensation expense; changes in fair value recognized in the Company's consolidated statements of operations with respect to equity investments with readily determinable fair values; an impairment charge recognized for an investment unrelated to the Company's core businesses; and interest expense recognized in connection with the one-time transition tax (the "Toll Charge") imposed by the U.S. Tax Cuts and Jobs Act signed into law on December 22, 2017 (the "U.S. TCJA"). Explanation of the Company's non-GAAP financial measures and related reconciliations to GAAP financial measures are included in the accompanying "Non-GAAP Disclosure" and "Reconciliations of Non-GAAP Results of Operation Measures to the Nearest Comparable GAAP Measures."
[4] "Changyou Results" consist of the results of Changyou's online game business and its 17173.com Website.
[5] Monthly active user accounts refers to the number of registered accounts that are logged in to these games at least once during the month.
[6] Quarterly aggregate active paying accounts refers to the number of accounts from which game points are utilized at least once during the quarter.

SOHU.COM LIMITED

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

(UNAUDITED, IN THOUSANDS EXCEPT PER SHARE AMOUNTS)







Three Months Ended




Jun. 30, 2022


Mar. 31, 2022


Jun. 30, 2021


Revenues:








Brand advertising

$

24,923

$

23,770

$

36,840


Online games


157,294


157,854


151,272


Others


12,563


11,794


16,290


Total revenues


194,780


193,418


204,402










Cost of revenues:








Brand advertising (includes share-based
compensation expense of $14,  $23, and $90,
respectively)


23,964


23,413


26,770


Online games (includes share-based compensation
expense of $42,  $41,  and $78, respectively)


25,691


21,971


17,026


Others


3,345


3,725


5,518


Total cost of revenues


53,000


49,109


49,314










Gross profit


141,780


144,309


155,088










Operating expenses:








Product development (includes share-based
compensation expense of $589, $607, and $1,228,
respectively)


65,098


63,839


65,254


Sales and marketing (includes share-based
compensation expense of  $33, $58, and $212,
respectively)


53,359


51,707


45,560


General and administrative (includes share-based
compensation expense of $708, $834, and $1,658,
respectively)


13,229


16,092


19,493


Total operating expenses


131,686


131,638


130,307










Operating profit


10,094


12,671


24,781










Other income, net


7,235


4,879


7,509


Interest income


3,720


2,593


4,221


Interest expense


-


-


(2,488)


Exchange difference


4,943


(477)


(1,325)


Income before income tax expense


25,992


19,666


32,698










Income tax expense

17,323


16,997


10,847


Net income from continuing operations


8,669


2,669


21,851


Net income from discontinued operations, net of tax [7]


-


-


55,882


Net income


8,669


2,669


77,733










Less: Net income from continuing operations
attributable to the noncontrolling interest
shareholders


1


3


-


Less: Net income from discontinued operations
attributable to the noncontrolling interest
shareholders


-


-


36,994










Net income from continuing operations attributable to
Sohu.com Limited


8,668


2,666


21,851


Net income from discontinued operations attributable
to Sohu.com Limited


-


-


18,888


Net income attributable to Sohu.com Limited


8,668


2,666


40,739










Basic net income from continuing operations per
share/ADS attributable to Sohu.com Limited [8]

$

0.25


0.07

$

0.55


Basic net income from discontinued operations per
share/ADS attributable to Sohu.com Limited

$

-


-

$

0.48


Basic net income per share/ADS attributable to
Sohu.com Limited

$

0.25

$

0.07

$

1.03


Shares/ADSs used in computing basic net income per
share/ADS attributable to Sohu.com Limited


34,535


36,802


39,509










Diluted net income from continuing operations per
share/ADS attributable to Sohu.com Limited

$

0.25


0.07

$

0.55


Diluted net income from discontinued operations per
share/ADS attributable to Sohu.com Limited

$

-


-

$

0.48


Diluted net income per share/ADS attributable to
Sohu.com Limited

$

0.25

$

0.07

$

1.03


Shares/ADSs used in computing diluted net income per
share/ADS attributable to Sohu.com Limited


34,535


36,802


39,509


















[7] Following the completion on September 23, 2021 of the transaction with Tencent related to Sogou, Sohu no longer has any ownership
interest in Sogou. Unless indicated otherwise, results presented in this release exclude results from Sogou operations. For historical
statements, the results of operations of Sogou and the gain from its disposal are presented in separate line items as discontinued operations.

[8] Each ADS represents one ordinary share.

SOHU.COM LIMITED

CONDENSED CONSOLIDATED BALANCE SHEETS

(UNAUDITED, IN THOUSANDS)








As of Jun. 30, 2022


As of Dec. 31, 2021

ASSETS





Current assets:





Cash and cash equivalents

$

394,421

$

998,949

Restricted cash


3,398


1,969

Short-term investments


795,557


399,345

Accounts receivable, net


79,762


82,550

Prepaid and other current assets


109,606


107,311

Total current assets


1,382,744


1,590,124

Fixed assets, net


304,124


329,997

Goodwill


47,985


48,811

Long-term investments, net


43,857


53,121

Intangible assets, net


6,948


9,136

Long-term time deposits


271,980


189,007

Other assets


21,677


25,589

Total assets

$

2,079,315

$

2,245,785






LIABILITIES





Current liabilities:





Accounts payable

$

79,315

$

87,447

Accrued liabilities


128,032


138,196

Receipts in advance and deferred revenue


52,054


57,041

Accrued salary and benefits


57,056


91,485

Taxes payables


12,249


16,714

Other short-term liabilities


118,153


112,568

Total current liabilities

$

446,859

$

503,451






Long-term other payables


5,484


3,922

Long-term tax liabilities


443,701


443,083

Other long-term liabilities


1,898


3,142

Total long-term liabilities

$

451,083

$

450,147

Total liabilities

$

897,942

$

953,598











SHAREHOLDERS' EQUITY:





Sohu.com Limited shareholders' equity


1,180,051


1,290,869

Noncontrolling interest


1,322


1,318

Total shareholders' equity

$

1,181,373

$

1,292,187






Total liabilities and shareholders' equity

$

2,079,315

$

2,245,785

SOHU.COM LIMITED

RECONCILIATIONS OF NON-GAAP RESULTS OF OPERATIONS MEASURES TO THE NEAREST COMPARABLE GAAP MEASURES

(UNAUDITED, IN THOUSANDS EXCEPT PER SHARE AMOUNTS)






















Three Months Ended Jun. 30, 2022


Three Months Ended Mar. 31, 2022


Three Months Ended Jun. 30, 2021



GAAP


Non-GAAP
Adjustments


Non-GAAP


GAAP


Non-GAAP
Adjustments


Non-GAAP


GAAP


Non-GAAP
Adjustments


Non-GAAP
























14

(a)





23

(a)





90

(a)


Brand advertising gross profit

$

959

$

14

$

973

$

357

$

23

$

380

$

10,070

$

90

$

10,160

Brand advertising gross margin


4 %




4 %


2 %




2 %


27 %




28 %
























42

(a)





41

(a)





78

(a)


Online games gross profit

$

131,603

$

42

$

131,645

$

135,883

$

41

$

135,924

$

134,246

$

78

$

134,324

Online games gross margin


84 %




84 %


86 %




86 %


89 %




89 %
























-

(a)





-

(a)





-

(a)


Others gross profit

$

9,218

$

-

$

9,218

$

8,069

$

-

$

8,069

$

10,772

$

-

$

10,772

Others gross margin


73 %




73 %


68 %




68 %


66 %




66 %
























56

(a)





64

(a)





168

(a)


Gross profit

$

141,780

$

56

$

141,836

$

144,309

$

64

$

144,373

$

155,088

$

168

$

155,256

Gross margin


73 %




73 %


75 %




75 %


76 %




76 %







































Operating expenses

$

131,686

$

(1,330)

(a) $

130,356

$

131,638

$

(1,499)

(a) $

130,139

$

130,307

$

(3,098)

(a) $

127,209
























1,386

(a)





1,563

(a)





3,266

(a)


Operating profit

$

10,094

$

1,386

$

11,480

$

12,671

$

1,563

$

14,234

$

24,781

$

3,266

$

28,047

Operating margin


5 %




6 %


7 %




7 %


12 %




14 %




















Income tax expense

$

17,323

$

(1,405)

(b,c)$

15,918

$

16,997

$

125

(b,c)$

17,122

$

10,847

$

(1,755)

(b,c)$

9,092
























1,386

(a)





1,563

(a)





3,266

(a)






734

(b)





4,010

(b)





(1,673)

(b)






1,649

(c)





1,213

(c)





1,198

(c)






-

(d)





-

(d)





156

(d)


Net income before non-controlling interest

$

8,669

$

3,769

$

12,438

$

2,669

$

6,786

$

9,455

$

21,851

$

2,947

$

24,798
























1,386

(a)





1,563

(a)





3,266

(a)






734

(b)





4,010

(b)





(1,673)

(b)






1,649

(c)





1,213

(c)





1,198

(c)






-

(d)





-

(d)





156

(d)


Net income from continuing
operations attributable to Sohu.com
Limited for diluted net income per
share/ADS

$

8,668

$

3,769

$

12,437

$

2,666

$

6,786

$

9,452

$

21,851

$

2,947

$

24,798

Net income from discontinued
operations attributable to Sohu.com
Limited for diluted net  income per
share/ADS [9]

$

-

$

-

$

-

$

-

$

-

$

-

$

18,776

$

493

$

19,269

Net income attributable to Sohu.com
Limited for diluted net  income per
share/ADS

$

8,668

$

3,769

$

12,437

$

2,666

$

6,786

$

9,452

$

40,627

$

3,440

$

44,067

Diluted net income from continuing
operations per share/ADS
attributable to Sohu.com Limited

$

0.25



$

0.36

$

0.07



$

0.26

$

0.55



$

0.63

Diluted net income from
discontinued operations per
share/ADS attributable to Sohu.com
Limited

$

-



$

-

$

-



$

-

$

0.48



$

0.49

Diluted net income per share/ADS
attributable to Sohu.com Limited

$

0.25



$

0.36

$

0.07



$

0.26

$

1.03



$

1.12

Shares/ADSs used in computing
diluted net income per share/ADS
attributable to Sohu.com Limited


34,535




34,535


36,802




36,802


39,509




39,509







































Note:



















(a) To eliminate the impact of share-based awards.

(b) To adjust for changes in the fair value of the Company's investments.

(c) To adjust for the effect of the Toll Charge.

(d) To adjust for an impairment charge recognized for an investment unrelated to the Company's core businesses

[9] Following the completion on September 23, 2021 of the transaction with Tencent related to Sogou, Sohu no longer has any ownership interest in Sogou. Unless indicated otherwise, results
presented in this release exclude results from Sogou operations. For historical statements, the results of operations of Sogou and the gain from its disposal are presented in separate line items as
discontinued operations.

Cision View original content to download multimedia: https://www.prnewswire.com/news-releases/sohucom-reports-second-quarter-2022-unaudited-financial-results-301601308.html

SOURCE Sohu.com Limited

News Provided by PR Newswire via QuoteMedia

Keep reading...Show less

Clover Games' #Me had a successful global launch with over a million downloads.

Entertainment venture company, Clover Games, reported that their new entertainment service, "#Me", has surpassed one million downloads.

Official illustration image of #Me

Clover Games launched "#Me" globally in 135 countries throughout North America and Europe on July 7th, 2022 . The app received remarkable reactions from the users, ranking 1st on the United States Apple store, 2nd on Google Play store, and 1st on the iPad social networking chart on the first day of its service.

The app's user gender ratio is 45% male to 55% female, with over 70% of the users being above 17 years old. Unlike former existing metaverse apps which are congregated by users under 17, #Me took its first step as a virtual reality world targeting the nonminor population.

As over half of the users are Gen-Z, the younger generation's reaction to #Me is rather positive. Clover Games shared that they shall strive to continue developing #Me as a fun playground for Gen-Zs to play and experience.

#Me strives to be a world that is different yet similar to reality. The service elevates user experience through game components such as original stories and quests. And at the same time, it allows players to customize their characters to express their individuality and experience social interactions. The users are able to have real-life jobs such as content creators, fashion models, and photographers. And at the same time, they can also experience fantasy jobs that involve sword and magic. With a wide range of experiences to choose from, the users can search for what they want to do and what they want to be in #Me. #Me is now available for download on both Apple store and Google Play store .

Cision View original content to download multimedia: https://www.prnewswire.com/news-releases/clover-games-me-had-a-successful-global-launch-with-over-a-million-downloads-301600632.html

SOURCE Clover Games

News Provided by PR Newswire via QuoteMedia

Keep reading...Show less

One Punch Man - The Strongest Pre-registration is Available Now in US/EU Regions

One Punch Man - The Strongest, the official turn-based strategy mobile RPG licensed by and adapted from popular Japanese anime series ONE PUNCH MAN published by Shanghai Moonton Technology CO., Ltd, starts pre-registration now in USEU regions. And One Punch Man The Strongest will also launch the closed beta on Aug.18 th .

One Punch Man tells the action story about Saitama , who became a hero for fun. After 3 years of special training, Saitama finally gains the ultimate strength. Being too powerful, he can defeat any enemy with just one punch, however powerful they are.

One Punch Man - The Strongest is a good choice for players whether you are a fan, or you are looking for a new mobile RPG. It is an easy-operation game and well simulates the anime's storyline to let you relive the classic scenes.

For One Punch Man fans, the whole game production was supervised by the production committee including SHUEISHA, following closely to the animation setting and forged boutique. In addition, it was voiceover by the Original Japanese Voiceover cast, including Makoto Furukawa , Kaito Ishikawa , Yuki Kaji , Aoi Yuki etc..

For RPG game players, you can actually fight along with Saitama , "The Strongest Hero", and face the disasters and villains straight out of the original work. You will need to recruit various heroes and villains and form a variety of different strongest lineups. Through smart strategy thinking, combination of unique character features and skills, and of course, the help of Saitama , you will be able to dominate the battlefield and save the world in the game.

One Punch Man - The Strongest also shows abundant game scenes and fight modes, such as the Institute of Genetics, Association Arena, Unnatural Disaster, Extreme Training, Awakening Trial, multiplayer team play, PVE campaigns and last but not least the Saitama combat mode and thrilling one punch kill in quick clearance of challenges.

Click the link below to pre-register:
https://bit.ly/3S5a0XT

For more information, please visit:
https://opm.moonton.com

Website: https://opm.moonton.com

SNS:

FB Official Page:
https://www.facebook.com/OnePunchManTheStrongest

YouTube:
https://www.youtube.com/channel/UCl9xolX014mkZ-yxZA46vgA

Discord:
https://discord.gg/XPerQqGEGt

©ONE, Yusuke Murata /SHUEISHA, Hero Association HQ

Cision View original content to download multimedia: https://www.prnewswire.com/news-releases/one-punch-man---the-strongest-pre-registration-is-available-now-in-useu-regions-301600647.html

SOURCE Moonton

News Provided by PR Newswire via QuoteMedia

Keep reading...Show less
X1Esports Closes the Acquisition of Tyrus LLC as the Company Builds a Leading Video Games and Creator Economy Business

X1Esports Closes the Acquisition of Tyrus LLC as the Company Builds a Leading Video Games and Creator Economy Business

  • Acquisition is intended to expand X1 Esports' reach into Gen Z demographic and add additional revenue streams
  • Tyrus' talent operates as a digital influencer management firm, and is specializing in working with YouTube, TikTok, and Twitch content creators, brand ambassadors and brands across all social media channels
  • Tyrus' client roster of over 60 high profile content creators have a combined reach of over 20 million followers
  • Tyrus has worked with leading global brands including: Warner Brothers, OMEN, Best Buy, Hello Fresh, and Panera to reach into the Gen Z demographic of its content creators

X1 Esports and Entertainment Ltd. (CSE:XONE) ("X1" or the "Company"), a video games and creator economy portfolio company which owns and operates a growing Esports franchise, is pleased to announce the closing of the previously announced transaction with Tyrus LLC ("Tyrus"), an influencer management firm empowering gamers, content creators and influencers ("the Transaction"). On closing of the Transaction, the Company holds all issued and outstanding securities of Tyrus, which will operate as a subsidiary of X1.

" The Tyrus Transaction offers tremendous opportunity for X1 to partake in the growing global creator economy which is an industry of over 50 million individual content creators 1 where Tyrus is extremely well-positioned ," said Mark Elfenbein, CEO of X1 . " The video game category has been a top category of the creator economy and has largely benefited the growth of the video game industry recently."

In connection with the closing of the Transaction, Tyrus' Manager, Amanda Solomon, will also join the X1 Advisory board. Amanda is an accomplished leader specializing in gaming and Esports, and has driven brand integration, influencer marketing campaigns, and talent partnerships with well-known companies and brands including Epic Games, OnePlus, and Gucci.

Since 2017, Tyrus has built a client roster of over 60 high profile content creators (iambrandon, Catiosaurus, Kalief (Spawn on Me) & Friskk) with a combined reach of over 20 million followers 2 . Tyrus provides comprehensive management of YouTube, TikTok, Twitch and other social media channels as well as consultation on personal brand growth strategies and partnership management and has grown since April 2021 from a roster of seven talent, to August of 2022 with a roster of 65 talent.

"Becoming part of the X1 family will allow Tyrus to extend its reach and engage with new and exciting talent in the gaming and esports community," said Amanda Solomon, CEO of Tyrus. "The talent and diversity of our influencer roster is something we take great pride in. I look forward to growing our presence in this space and providing unique access for global brands to a highly influential GenZ audience".

Transaction Terms

Pursuant to the terms of a membership interest purchase agreement dated July 15, 2022, the Company acquired 100% of the issued and outstanding membership interest of Tyrus for total consideration of up to approximately US$350,000 (the "Purchase Price"). The Purchase Price is divided into the following payments: i) US$150,000 in cash payments due within 60 days of closing; and ii) 555,555 fully-paid common shares in the capital of the Company at a deemed issue price of $0.45 per Common Share, which were issued on closing of the Transaction. In addition, a bonus payment of US$100,000 may be payable if Tyrus reaches US$1,750,000 in its first full year of revenue, which may be settled in cash or Common Shares at the option of the Company.

The Common Shares forming part of the Purchase Price are subject to subject to a statutory hold period of four months and one day from the date of issuance, and a contractual resale restriction that will result in 25% of the Common Shares being released twelve (12) months following the closing date, and 25% being released at six (6) month intervals thereafter.

The securities of the Company referred to in this news release have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act"), or any state securities laws. Accordingly, the securities of the Company may not be offered or sold within the United States unless registered under the U.S. Securities Act and applicable state securities laws or pursuant to an exemption from the registration requirements of the U.S. Securities Act and applicable state securities laws. This news release does not constitute an offer to sell or a solicitation of any offer to buy any securities of the Company in any jurisdiction in which such offer, solicitation or sale would be unlawful.

For more information, please contact:

Mark Elfenbein
CEO and Director
info@X1Esports.com
www.X1Esports.com

About X1
X1 Esports and Entertainment Ltd. is a video game and media portfolio company which owns and operates a growing esports franchise, RixGG. The business of the Company is the competitive playing of video games by teams for cash prizes, and operations ancillary to such competition, such as merchandising and the hosting of tournaments.

For more information on the Company, visit www.X1Esports.com or email info@X1Esports.com.

About Tyrus
Tyrus, and its talent services, is a boutique talent management group for digital content creators. Specifically, we work with creators in the gaming and lifestyle verticals, providing creators with paid opportunities from free game codes to booking for live shows and paid partnerships around the globe. We also offer more integrated services such as social media management, platform management, video editing, and short form content editing. To put it simply, Tyrus supports our creator's business with expert knowledge and management of partnerships and activations with major companies.

Forward-looking information
All information contained in this news release with respect to the Company and Tyrus was supplied by the parties, respectively, for inclusion herein, and the Company and its respective directors and officers have relied on Tyrus for any information concerning such party.

Certain information in this news release may contain forward-looking statements that involve substantial known and unknown risks and uncertainties. Forward-looking statements are often identified by terms such as "will", "may", "should", "anticipate", "expects" and similar expressions. All statements other than statements of historical fact included in this news release are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company's expectations include the failure to satisfy the conditions of the relevant securities exchange(s) and other risks detailed from time to time in the filings made by the Company with securities regulations. The reader is cautioned that assumptions used in the preparation of any forward-looking information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of the Company. The reader is cautioned not to place undue reliance on any forward-looking information. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The forward-looking statements contained in this news release are made as of the date of this news release and the Company disclaims any intention or obligation to update or revise such information, except as required by applicable law.

News Provided by GlobeNewswire via QuoteMedia

Keep reading...Show less

"Captain Tsubasa: Dream Team" Debuts 5 New Players Including Ryo Ishizaki and Jun Misugi Wearing the 2022 Season J.LEAGUE Official Kits

- KLab Inc., a leader in online mobile games, announced that its head-to-head football simulation game Captain Tsubasa: Dream Team will have a collaboration with the J.League. Starting Friday, August 5th new players including Ryo Ishizaki Jun Misugi Shun Nitta Leo, and Teppei Kisugi wearing the official J.League kits for the 2022 season will appear in the game. In addition, various in-game campaigns will be held to celebrate the collaboration. See the original press release ( https:www.klab.comenpress ) for more information.

Captain Tsubasa: Dream Team will have a collaboration with the J.League. Starting Friday, August 5th new players including Ryo Ishizaki, Jun Misugi, Shun Nitta, Leo, and Teppei Kisugi wearing the official J.League kits for the 2022 season will appear in the game. In addition, various in-game campaigns will be held to celebrate the collaboration and the Summer Campaign begins at the same time.

J.LEAGUE Collaboration Campaign

Players who were part of the J.League in the original Captain Tsubasa story will appear in Captain Tsubasa: Dream Team wearing the official J.League kits for the 2022 season.

The campaign will feature a login bonus, daily scenarios, and more so be sure to check out the in-game notifications for more information.

J.LEAGUE Selection Transfer

Jun Misugi , Ryo Ishizaki , Shun Nitta , Leo wearing J.LEAGUE official kits debut as new players in this Transfer. This is a Step-Up Transfer where 1 new SSR player is guaranteed on Step 5.

Dreamball Exchange Update

Home, away, and keeper kits for 18 teams from the 2022 Meiji Yasuda J1 League are now available in the Dreamball Exchange.

Summer Campaign Begins

The campaign will feature a login bonus, event missions, and the Summer Cup. Participate in the Summer Cup during the event period to receive amazing ranking rewards.

Overview of Captain Tsubasa: Dream Team

Supported OSes:

Android™ 4.4+, iOS 10.0+, HarmonyOS 2.0+

Genre:

Head-to-head football simulation game

Price:

Free-to-play (In-app purchases available)

Supported Regions:

Global (Excludes Japan and Mainland China)

Official Website:

https://www.tsubasa-dreamteam.com/en

Official Twitter Account:

@tsubasaDT_en

Official Facebook Page:

https://www.facebook.com/tsubasaDTen

Official YouTube Channel:

https://www.youtube.com/channel/UCTgOPO7kIQ35YzB7SBIQoWQ/

Official Discord Channel:

https://discord.gg/6tyEs48

Copyright:

©Yoichi Takahashi/SHUEISHA


©Yoichi Takahashi/SHUEISHA/TV TOKYO/ENOKIFILM


© KLabGames

Download here:

App Store : https://itunes.apple.com/app/id1293738123

Google Play: https://play.google.com/store/apps/details?id=com.klab.captain283.global

AppGallery: https://appgallery.huawei.com/#/app/C105375049

Cision View original content to download multimedia: https://www.prnewswire.com/news-releases/captain-tsubasa-dream-team-debuts-5-new-players-including-ryo-ishizaki-and-jun-misugi-wearing-the-2022-season-jleague-official-kits-301600573.html

SOURCE KLab Inc.

News Provided by PR Newswire via QuoteMedia

Keep reading...Show less

Latest Press Releases

Related News

×