Gana Media Group (LSE:GANA) — Investor Update

0:02 Good morning, ladies and gentlemen, and welcome to the Mobile Streams PLC Investor Presentation. Throughout this recorded presentation, investors will be in listen only mode. Questions are encouraged. They can be submitted at any time using the Q and A tab situated on the right hand corner of your screen. For Thank you.

0:28 Before we begin, we would like to submit the following poll. And if you would give that your kind attention, I'm sure the company would be most grateful. And I'd now like to hand over to Nigel Burton. Good morning. Yeah. Good morning, everybody, and thank you very much for giving up your time during the day to be with us. I'm going to run through a few of the presubmitted questions relating to the placing because I know that's raised, know, concerns amongst some people. Then I'll hand over to my colleagues, Tom and Mark, who'll take you through where the business is at the moment and where we're heading. So we we've also had quite a few people asking why did you do placing, what were the details of it, and all the rest of it. And I'm gonna take you through the process because I I think for some people, this will just be motherhood and apple pie.

1:17 For other people, I think it might be useful to understand in real life how these things actually happen. So we were sitting in the same room Wednesday of the previous week on a having just seen Gfinity's RNS, which you'll probably be aware they had a shocking profits warning and said, oh, by the way, we need to raise some money. We've been in talks with them for four, six weeks, maybe a bit longer, can't remember exactly, about the joint venture which Mark will describe later. And we thought, well, hang on. We may be able to help them here. And without going into all the details, confidential details of what they thought they might be able to achieve, we were able to give them a, you know, significant helping hand by offering to cornerstone that placing.

2:08 That in turn obviously helped us with our commercial negotiations with them, of which more later. So that was, like, the the Wednesday morning. In the afternoon, I called up the broker and said, well, we could do this out of our existing cash, but what do you think? Would a placing be possible? And on the Thursday, they did a small ring around and a few people. So I think this is, you know, this is very unlike a sort of institutional roadshow where you plan all these things, you book up a week's meetings, you'd rudge around the city either physically or in these days, and then build a book. You know, what in actual fact happens here is that Peterhouse will build a book from a small group, maybe 20 or 30 of their high net worth clients.

2:57 And in building a book, you get, you know, price and size, and you choose a price that works.

3:05 And, you know, 25% discount is obviously quite significant, but less than many other placings I've seen, and certainly less than Gfinity had, which was a 60% discount to where they were two weeks before their placing as people obviously got wind of something going wrong. So why did we do it? Well, obviously, things have changed a lot in the last few weeks. You know, when we were last speaking to investors, there wasn't a full scale war in Ukraine. There wasn't the worry about the rampant inflation that's gonna produce in terms of both fuel and food prices. And whilst we could have carried on without doing a fundraising, which is what we've always said we could do, what we didn't want to do is find ourselves, for sake of argument, you know, the end of this year, if the markets hadn't worked out right and the economy hadn't, you know, maybe we'd even be missing our budget by then. And the one time you don't want to raise money is when you really have to.

4:12 So we we decided it'd a lot more prudent to raise some money now. There was clearly a lot of appetite at a reasonable price. So we decided to go ahead with it. And that, you know, that's how long it all takes, like two days start to finish. And then to make sure that retail investors had an opportunity to participate, we did the broker option, which, you know, quite a few of you did take part in. I appreciate some of your brokers, yeah, I I I and people like that are just not able to do that, but we weren't aware of that. So, you know, I think at the end, we've we've raised money where now we're in a very comfortable position. It gives us a lot of flexibility commercially over the next twelve, twenty four months that, frankly, we didn't have until that money was raised.

5:03 And it it obviously allowed us to do something we'd like to like to do later in the year. Had the old naught point five p warrants actually been exercised, which, you know, we think they would have been had it not been for Pewton. So we've bought in the remainder of Crunch, and I think that will be a very important part of the story because we've now got both live scores and Crunch as wholly owned parts of the platform. And, you know, as as you can imagine, moving forward, that gives us more control, more security, and is a platform that might be of a great deal more interest to other people. So I know it was a long explanation.

5:48 I'd be very happy to take questions on it later if necessary, but, you know, I I think it was just useful for some people who maybe didn't understand the process just to know in real life what actually happens. And of course, you know, a discount I'm I'm the largest shareholder, so I'm I'm kind of as happy as anybody else to see or unhappy as anybody else to see a discounted placing. But, you know, we, the whole management team, the board, have taken this you know, we're we're not looking on a four week view. This is about investment and about building the business over the remainder of this year and beyond, and having a really strong balance sheet. Let let's wait and see how other people are at the end of the year, but I I'm I'm very glad the management team have got the funding behind them. So I think that's enough for me.

6:40 If you've questions on it later, please ask. But over to you, Mark and Tom. Thanks, Nigel. Appreciate that. So now we're gonna take you through a presentation about the company. I'm the CEO. Tom is the chief product officer. I'm gonna tell you about what we do, how we do it, the whole story since we the new management team came in a couple of years ago, what our plans are, and then how we're gonna go about executing those. So, you know, what is mobile streams? Well, basically, we provide next generation content to global audiences. So we're gonna give you an update, which I was just doing briefly.

7:26 We're gonna go through the presentation, and then at the end, we'll have the the q and a. So we've just recently we just talked about the the placing we did. We've talked about the why we did it. One of the main reasons for doing that was we had the opportunity to Gfinity, and also there's a number of other opportunities coming up. I think Nigel's gone into some detail about that, and we're happy to do a q and a at the end. But it's top level put us in an amazingly strong position. Best position actually the company's ever been in certainly since since we came and saved it. And now I'm gonna take you through some more details about us.

8:07 So our content group, our mobile streams content group delivers world class gaming content via our Crunch Data Intelligence platform, which we now own totally. A global audience audience of over 800,000,000 people. It's all around the world. That's including India, Argentina, Mexico, on mobilegaming.com. Internationally, deliver some amazing games, amazing content to an audience of that size. That's our maximum reachable audience. We're growing that all the time. There's some exciting things to come on that actually, but we'll talk about that that later on at the time. So to give a bit of historical perspective, we we, the new management team, pretty much the people you see on this presentation, came in around December 19 and saved the business.

9:00 So

9:04 basically, I think it was going be delisted. So we came in. We saw a lot of value there still with potentially some of the legacy contracts we've had and the data that they're collecting. Mobile Streams itself is a business that's been on it for sixteen years. I think it's over twenty years incorporated. And it it had just, you know, the previous management had just run it down. So we came in, saved it, saw a lot of value in the data, a lot of value in some of the legacy stuff. And, basically, we spent the first number of months. This was just before COVID. We spent the first few months, tooling through that, harvesting data, harvesting the information, looking all the data that we had. And then we came out, basically, I think the company was even suspended for the first six months due to us getting involved and stuff like that. Then we came out around July 2020 with our first new product, which was the SaaS, the Cock the Crunch product, which was the streams data intelligence platform.

10:00 And that was basically a content marketing platform, which utilized all the technology that we had and all the data as well for mobile streams. It's got a really, really powerful content marketing platform and business intelligence platform that could help companies with this small business marketing. And because mobile streams had sixteen years, seventeen years at that point of collecting data on content that it delivered, we could add that to our intelligence engine, add that to our AI, and really get a great algorithm and give people a really powerful tool that can help small, medium businesses that don't have expensive budgets for marketing teams and don't have loads of people to do their social. Give them give them something that can pretty much automate that and help them help them get ahead in their marketing and deliver content that engages people, works, and then track that back to their budgets.

10:53 And and that proved to be highly successful. And the business intelligence part and the tracking part was was super successful. It was used by the National Emergencies Trust in the in the early stages of COVID. It's had big big enterprise clients like The Economist, big agencies, big corporates, and that was highly successful. And that was our first real product. That was then followed up by some other deals we did and some other thing another deals we did to get more content for our for the for the other part of the business. And when we actually launched a SaaS version or online version of the content platform that you can buy for 10 or £15 a month, and that's been highly successful as well. We then undertook a major expansion of the audience side of the business, the content delivery side of the business.

11:42 We rolled out, we signed contracts with various and reinvigorated contracts with various different telecoms providers. So broadly, we have the ability to deliver gaming content and general content to all the subscribed base of various telcos around the world through what's called direct carrier billing contracts. And that means that we they can subscribe to our service and pay for it straight through their phone bill. So there's a very low barrier to entry. So you don't have to use your credit card. There's no filling out forms. So if people like our product, like the content that we're delivering, They can just sign up and pay straight away. So it's really good. The contracts those contracts are really hard to get, and we've and we've done really well to expand on those and reinvigorate those.

12:27 We then recently announced a partnership with International Gaming Systems, IGS, to expand our content portfolio into esports and beyond. And this is now we're getting right up to date now, all the plans. Because that even furthers what we're doing. We announced the acquisition of a platform that we co created with Qantas test with Lifescores, which is very complementary to esports, which in itself could be a business worth many money multiple millions of pounds. Some Lifescores businesses are worth hundreds of millions of pounds of standalone. Our one is highly successful in Mexico, Argentina, and Brazil. It provides sports updates and live scores into that market. That's powered by the Crunch engine. And then we're gonna link that up with esports to create a really powerful product. We brought that technology in house.

13:18 And that's pretty much brought us bang up today, and now we're continuing to grow the company and grow our revenue streams. And I'll take you through more detail about that now. So what's the opportunity? Well, basically, it's massive. So the gaming industry is now bigger than movies and music combined. It's an over market value currently. It's over 200,000,000,000, the industry. It's it's enormous, basically. So it you know, it's everything is converging in this direction. So if you look at I'm gonna hand over to Tom in a minute. But if you look at the direction, we're building our platform and our technology, not for where the market was, which was sort of fixed computers and things like that. But we are building it for mobile, mobile accessible.

14:07 But it's mainly for cross platform. So we're building stuff for web three point o, and we're launching products. And that's that's known as the metaverse. It's web three point o. But broadly, in terms of what it is, in sort of layman's terms, the opportunity has nothing short of in terms of content creation, content consumption, and the ability to monetize content, to sell things into into content experience, to sell things in game, to sell things within an esports event, to sell things within a virtual event or virtual arena. That it's it's nothing short of the Internet completely reinvented. And, you know, the opportunities are are massive. So we've everything we've built, all about technology, about platforms, it's all aiming towards this.

14:53 And that market is set to be 800,000,000,000. So it's all you know, think about how how it's gonna grow from the previous figure I just told you. Set to be 800,000,000,000 in just a couple of years' time. So this this is where everything's headed. So now I'm gonna hand you over to Tom. He's gonna give you some detail about some of the products that we're delivering and the services and how we do it. And then I'll come back in to sort of bring it all together at the end. And then what we'll do is we'll do a q and a and try and answer as many questions as possible.

15:25 Thanks very much, Mark. Just checking everyone can hear me, and I'm unmuted. Yep. Okay. I'm gonna be guiding you through two main areas this morning. First, what our overall expansion strategy is, and then secondly, detail on how we're gonna enter this market that is going to grow from 200 to to 800,000,000,000. Mark will then pick up at the end of the presentation, sum up our headlines, and recap our vision for q and a, which then can be taken both Mark Mark and Nigel. Just for a second, I just wanna stick on this slide in a bit more detail, and you've heard Mark talk about cross platform. That that that's our term. I don't think there is any real term for it at the moment. Some people say metaverse. Some people say web 3.zero. There's a lot of different opinions. All we know is you you can see this is where the market's moving to. And being in the mobile area that you can see here with the green arrow, this is very much kind of where our space is, and it makes complete sense to move into this direction.

16:19 So how do we know this is working? This slide, which you you just saw here, these are some of the biggest kind of movers and shakers shakers in this area. You can see there you've got Facebook's Horizon World. They've invested 10,000,000,000 loan this year into that. Nike brought Artifact, which is an NFT platform, a three-dimensional NFT platform, for an undisclosed amount, but fantastic company. Top right, you can see the Xbox and Activision Blizzard acquisition for for 70,000,000,000. Again, bringing those big game providers together. And then down the bottom in the esports world, which is ESL, which is probably one of the biggest for a 1,000,000,000 acquisition. So what's the point of this slide? Just to show something's happening here. It makes sense for us to move what we've got in in into this market because it's such a good fit.

17:14 So as we move forward into the expense strategy, how are we gonna move forward and continue? Well, our plan really from a headlines point of view is we're gonna be focused on three three main things, which is gaming, esports, and NFTs. And we're gonna drive revenue across each of those entities with our huge audience reach. This would, of course, be backed up, as Mark mentioned before, with our unique data insight platform, which we feel has already given us the capacity advantage and will do in the future. But as a content business, what are we always focused on in the past? This is gaming. This is part of what we do, and it's the heart of what we do. So the first part of our strategy is increasing our gaming footprint, and we're trying to maximize the potential that we've already got.

17:59 We're gonna be much more vibrant and wider. We're gonna try and drive further revenue from the player experience that we're dealing with at the moment. As Mark mentioned before, we've already acquired live scores, gives us that head start, but we've also got a a deal with Vodafone and GANA, which was mentioned earlier on. And that allows us to broaden our reach even further, and it gives us a huge advantage with entities such as or functionality such as direct carrier billing through through through these platforms. We're also, as a secondary element to this, launching what we call the MGC Arcade app, which is gonna increase our reach even further. Our own apps will provide us with a more immersive experience, and this is something we haven't had before and a great way to harvest more revenue and data. We are currently entering commercial partnerships with game creators, which will be announced later in the year, to bring life the best HTML five games that are available, and you can see some snapshots of of that here on the right hand side.

19:03 This will be at the end of this month. That would be fully going live, and it's looking really good in testing at the moment. It's also worth noting there's a huge emerging market of pay play to pay gaming or play to earn gaming as it's more commonly known, which is where users can actually go on. And as they're actually playing the games, they can earn through tokens, social tokens, crypto, something that is worth value for them while they're actually competing in these games. It's becoming a massive market, and we're developing our own IP in blockchain, crypto, and NFT tech that will enable us to be part of that technology, and we can touch upon this later. And finally, in this area, we're also gonna be relaunching mobilegaming.com, which is something that's really been underutilized in the past. It's been in hibernation.

19:50 But with this, we're just gonna create a huge destination for gaming news, which we pulled by our Insight platform and partners, games, and the NFTs, and the airdrops, and you'll be able to access the app from here. So, hopefully, it'll be a really vibrant space that is is needed in in that in that market and will help us compete. Another big part of this space is also gonna be able to host esports, which is something that we've mentioned that we're moving into. And esports is a great multifaceted mechanic that has the ability to to bring bring people together from from all over the world, and the stats speak for themselves. If you look at some of these stats here, the 220,500,000 occasional viewers, 215 esports enthusiasm enthusiasts, which gives them its combined audience of nearly 450,000,000.

20:35 And even you can say Forbes then, you know, mobile gaming, which obviously is where we are, is gonna transform this space by 2023. It's even worth noting that if you look over on the right hand side here, you can see that Man City have just signed a three year deal with Sony that is actually getting them to build an esports virtual stadium because they can already see the value in this. And that that there's a huge amount of value that can be harnessed. Again, Again, platforms is a really key part of this. So similar to what they're doing, we know the power of these platforms, and they can help facilitate a great experience. And through our partnership with RGS, we have announced a partnership with with Battle Riff. This will give us the ability to live a large gaming experiences, and partnerships like Battle Riff are fantastic platforms for people to come on to watch, to comment, to compete, to become part of that inclusive journey in esports and gaming, be part of that life cycle.

21:30 Platforms are fantastic. So having that that destination there is gonna be is gonna be a huge advantage for us. An example of what we've been doing in this space is working with bigger companies such as player known as Battleground or or know the acronym PUBG. So everyone knows of Fortnite. They assume it's just the largest in the world. But if you look at the stats here, PUBG just just basically comes above, you know, kind of that those ones like Minecraft, etcetera. It's it's right at the top. It's a fantastic game, shooter game, interactive. We've been done a a combination of taking this game here with Berschiktas, European football team, and creating an event where people come together, and they can compete for a certain amount of cash, to try and win the prize of being the the the tournament's leader.

22:22 If I just show you some examples of how that work, you were to go to mobilegaming.com now, you will actually see there there's a really interactive page which spoke about how the events actually worked. You can kinda click through to the to the interactive gaming environment where you can see some examples now if you press launch. And the way it works is we have a two week round robin event. The prize pot for winners and runners up. There's about 16 teams that compete with their own following. There's partnerships there on the periphery of of multiple brands, and then everyone can comment throughout saying, oh, you're doing fantastic. Oh, that was terrible, etcetera, etcetera, etcetera. There's a live video feed. There's interactive messaging. We get a huge amount of volume coming through to kinda watch these events. And then the revenue is generated through advertising, merchandising, partnerships, and also NFTs, which is where we mentioned we also wanna get into this this space.

23:16 So NFTs are a great way for mobile streams, brands, and players to to to build value. NFTs are already predicted to be 80,000,000,000 industry by 2025. I actually think that's that's slightly higher now. In short, they were a great mechanic to deliver true ownership to to players and gamers. This can be in the form of a tradable asset. It could be a skin, a token, card, a social token. There is conflicting press around their usage and where it's gonna go. We just wanna be part of that journey so we can harness it. But they're a great tool for engagement, and that's undisputed. They're a great tool for reducing churn and for revenue generation in in in the right hands. And you can see a lot of brands are looking to get into this space, and we wanna help them get into this space.

24:02 So how does it work in practice? Well, this is an example of the type of thing that that we're building we're doing. We'll be utilizing them as as digital collectible items. You can see there, you know, grab your own NFT. If you enter your email address, you'd already get an an original NFT from the brand or someone that we're working with. You sort of really then got value. The more people that come in that immersive experience with the brand or the games can then build up on that NFT, and then and then it increases kind of attention engagement and increases the churn. It's it's all these kind of methods which are traditional marketing strategies that that that we try to employ. And then just finally, to finish off on the NFTs, as mentioned, we're looking to build our own platform here, which will be a white label solution.

24:48 We don't really like the term white label, but we use it because people understand it. But, again, branded completely for the actual brand that we're working with.

24:55 They can get automatic wallets, which can be really, really complicated to kinda set up. You have linguistic issues, which can be solved. It's very secure. We partner with Solana and companies like that to help really with with with the best kind of form of form of blockchain. And then that brings us on to really the last couple of slides, which is all about merchandising. And the key takeaway here is that the gaming accessory market is due to nearly double over the next few years. And we're planning to deliver partnerships here to coincide with with the events and across our scores platforms solutions to really really make the most of the merchandising and licensing world. And then as Mark mentioned, you know, it's not forgetting that, really, this is the core of our strategy and and and the backbone of the company is our data insight platform.

25:41 And just to kinda talk about what Mark said, this platform scours the web. It searches through hundreds of thousands of sites really to only locate the the best content, as well as us being honored that we won the best digital content platform last year. We use this insight to help us to define our content and deliver strategy across our our huge audience. And later this year, we are also activating a new service that will begin to deliver the best gaming news to players from this platform into areas like mobilegaming.com, which we think, again, will give us a huge advantage. It'll be great for our audience. I'm now gonna hand back to Mark just so he can kinda recap on our vision and then bring the presentation in. Thanks. Thanks, Tom.

26:27 So how do we let's bring this all together. How does it all fit together? So since we took over the business, we've been building all the blocks, all the tools, and all of the framework to, in effect, harness what to harness this next generation game, the next generation content, to harness the metaverse, to harness what three point o. And we now sit in an amazing position, a great position, where we have all the foundational building blocks needed to harness that. We have the audience of 800,000,000 people and that could be an increasing we're looking to increase that. We have the underlying technology, be it platform for NFT creation and monetization, be it platform to

27:10 host and produce esports tournaments, and platform to produce further digital merchandise, all of which will be monetized. And how does that all come together? Well, just recently, hosted our first major esports event in partnership with RGS, which is Pacific Tassos. It was really successful. We got some amazing feedback from them. They were super pleased with it. And that had a that had a wide audience. But one of the things you can do in the virtual space is have an enormous audience. So if you think about something like Wembley Stadium,

27:40 that can hold about eighty, ninety thousand people maximum. And in that, people can come to an event. They can buy merch. So the opportunity, they can buy merchandise, you know, before you go. You can have a dinner before you go. So the opportunity is that there's an event, there's a crowd, but the the entire universe is 80 or 90,000. We can broadcast an event to 800,000,000 people, a billion people. We can sell merchandise, digital merchandise to 800,000,000, a billion people. And those are just the people that can pay using their premium. Through mobilegaming.com, it becomes an almost unlimited audience and those that have to be credit card, but more and more, we're trying to integrate with telco contracts.

28:17 We can partner with licensed leagues, clubs, bands, artists to create NFTs, we not only get revenue from that, we get a percentage of royalties from that. All of that sold via our platforms around an event or just in general in a general marketplace. We have the ability to create general merchandise, both physical and digital that's not earthy. And we've got the ability to create a subscriber base and a gaming base that we can monetize at any time. So all of all of those things we now have, and it's not all coming soon. It's not like all this is in development, and it's years and years away. We've already hosted our first event. This technology is either built or coming literally in the next couple of months of the things. It's in trade. It's right there now.

29:06 This is where everything's converging. Every single major brand from, you know, drinks manufacturers to car manufacturers, clothing manufacturers, all major, let's say, 100 companies, every single board is pressuring their marketing department, their commercial teams to say, what is your strategy for the metaverse? What is your NFT strategy? How are we gonna monetize our brand in the metaverse? How are gonna monetize our our company with NFTs? Look at the look at the games. Look at the Commonwealth. Look at look in the press. Yesterday, there was a great article in the BBC saying, you know, how big esports is gonna be as well. So this is not sort of something that's that's not monetizable now. It is. This is not sort of future. And we were in a an amazing position to pick up a lot of this business,

29:50 You know, much better position than legacy companies that have built tech on platforms and now outdated, that are carrying legacy costs, fixed infrastructure of of buildings and of costs. We have a really nimble lean team. We have a small core team, and we do everything in partnership. We're extremely well capitalized as a business, and we're we're just in a great position. We have good partnerships, good clients, and good revenue. Our revenue has grown massively

30:18 over the last just few months. I've talked about our audience size, talked about the size of the market opportunity. Our revenue is up 87 and a half percent literally since December. The whole team at at Moss has done really, I think, an amazing job turning around the business, creating businesses fit for now and the future. We've got, you know, pretty low market cap at the moment. So for investors, I think there's a great opportunity. You know, we're aiming to build a company that's gonna be worth in excess easy of a 100,000,000. We're pushing hard. We're a really dynamic management team, which really focused on delivering value and training a lot of mid and long term value for shareholders. And I think we're a wonderful position. So with that, we'll finish off and we'll go to questions. That's great. Mark, Tom, Nigel, thank you very much indeed for updating investors this morning. Ladies and gentlemen, please do continue to submit your questions using the Q and A tab situated on the right hand corner of your screen. Just while the management team took a few moments to review those

31:21 questions submitted already, I'd like to remind you that a recording of this presentation, along with a copy of the slides and the published Q and A, can be accessed via your Investor Meet company dashboard. Mark, Nigel, Tom, obviously investors had the ability to pre submit questions. And I know, Nigel, you very kindly addressed a number of those at the beginning. I therefore wondered if you would be able to open up the Q and A tab. You'll see that on the right hand of your screen. You'll see you've had a considerable number of questions, no surprise there, from investors. And perhaps if I may just hand back to you and ask you if possible to

31:51 read out the questions and give a response where, of course, it's appropriate to do so, and then I'll pick up from you at the end. So so shall I start? And then I'll sort of field it, and then we'll hand over. So David David one one's coming. David q. Mark talks about linking up with brands. Are you in discussion with any, or is this a concept? No. It's not a concept. Well, first of all, we we have linked up with many brands. Movistar, Telcel, Vodafone, GEO, Besiktas, PUBG, Tencent, which are some of the biggest companies in the world in the world, multibillion pound companies. So first of all, we've we've already got

32:30 major brand partnerships. Secondly, are we in discussion? Yes. We are. I can't talk about that now, but we're in discussion with highly significant and, you know, globally recognized brands and leagues and tournaments and franchises. But, obviously, that would be announcement in the future. So, yeah,

32:56 hopefully, that answers that. What is hold on. I'm trying to they'd be kind of going to monthly revenue for some things that would be. But we've talked we've talked about our overall revenues up 87 and a half percent, which is great. Someone's asking about the best digital content award. I think Tom will be able to say exactly what it but that was voted for them. It was the best London Marketeers or something like that. Best digital content award in London. We have, I think, the award on our site Yep. Of what it actually is if you go to make the mobile stream site. But certainly, we could buy more information on that. We're very proud of that. Not easy to be named best digital marketing platform, so I'm very pleased about that.

33:46 Are you able to provide launch or specific target dates for each of these revenue streams? Well, some of them are launched. So this isn't you know, we're not talking conceptually. The NFT stuff is to be launched pretty shortly. Although the esports stuff is already launched. We've already announced the contract that's worth a minimum of $720,000 for just six months, for just six month minimum with IGS. So we're not talking a few thousand. So I think I hope that answers that question. We can't we don't wanna break down each revenue stream. I mean, Apple doesn't. And they're much more advanced than us. They don't even talk about iWatch should have you know, how much revenue they get from that or from the App Store specifically. So we have to be careful that we don't hurt ourselves competitively. You know, we're we we probably will do further down the track maybe, but, you know, we're negotiating a lot of contracts. There's a lot of commercial sensitive information.

34:39 And if we give up too much, we'll just be hurting ourselves and shareholders for sorts of trading sort of thing. What else is that? Compared to initial budgets, all the recent deals, including IGS, GFIN, lead to accelerated EBITDA profit or obtaining the timing of selling the profit? Interesting question. I mean, it it could bring it forward. We haven't announced the details of the joint venture with Gfinity yet. That's likely to be highly you know, that's likely to be, you know, really good when we do. But watch this space on that. Obviously, we've announced IGS $720,000 of revenue minimum in just six months, and I think a lot more to come on that to be announced.

35:32 One thing I will say is, you know, we've talked about this before, I think, not on this presentation and other presentations. You know, we're we're very lean. We have total control of our cash flow. We don't have any particularly fixed outgoings and things like that. And so, you know, we could be one of these companies that just suddenly says, we're profitable just to say we're profitable. And but what we'd really be doing probably is not investing in growing the technology, growing the audience, in growing the product, in growing the business for the long term to hit, you know, to get properly sustainable £100,000,000 plus further out valuation. So we're we're not we're not here just to solve a sort of not artificial, but sort of short term to say we're profitable. And could we do that if we really wanted to do? Maybe. Yeah. But we're here. We're building things in the right way, in a sort of staged way, in a logical way to build a business with value for for the long term. So I hope that answers that question. There's another one here.

36:32 And, T, what what take up do you expect from the warrants that expire on the March 26? Well, as they're at point five, I we don't expect any take up probably, I'd expect on those. Although, if the price gets above 5 in the next three days, then maybe. But as that's only three days away, probably they're gonna expire. Nigel might have a view on that, but I don't think I'm saying anything particularly outlandish there. You know? Maybe after this presentation, people like the price share so much. It rockets up to point seven, and I might be proved wrong and, you know, hope to be. But that that aside, I'm not I'm not certain. Probably just expire, which I think, you know, people could take what they want from that, but that's just probably factual. What sets mobile streams apart from competitors in the marketplace? Well, I think talking about bigger competitors there and established. The fact is that our technology is built for where the market is now and where it's going. A lot of other companies that may seem bigger, actually, not big because their technology is completely redundant.

37:35 They're sat on these legacy costs and these legacy contracts they can't really monetize, and they're just bleeding cash. So whilst they may seem bigger, they're actually potentially quite weaker than us. And we come in nimble, fully sort of cap capitalized up, cashed up with the products that are built for now and the future. And we could sort of win business handover for in that position. So I think we're in a really attractive position to harness the market where it is and where it's going, unencumbered by significant legacy costs that other companies would have. I'm just going through. Are there any perceived risks or threats to becoming a $100,000,000?

38:25 There's always risks and threats. I mean, you know, we we currently have a market cap of just which I think is a you know, our views, obviously, if bargains were were were just before we did the placing of around $10.10 or 11,000,000, whatever the day is. You know, the threats are made doing things short term. The threats are saying, well, just just for short term trading to say we're profitable or not making decisions. Like, the run we did to create what I think is gonna be incredibly successful joint venture with Gfinity to create enormous value is to not take those opportunities, to not be dynamic, to not be nimble, to not seize on on on, you know, opportunity when it presents itself, and to not execute our strategy in the right way. The the market is going is where where we want it to be and going more where we want it to be. From what we hear, all brands.

39:17 You know, we've got so many meetings. We've got so many meetings with so many brands lined up. We've got a great pipeline. So I I don't I don't think the market think the market is there. I think the monetization is there, just getting bigger all the time. The risk is in us not executing you know, we're not a £100,000,000 business now, obviously, public valuation. You know, we are aiming to get there. And I think the risk isn't just us making know, we've got to make good decisions for the mid and long term. We're not making short term decisions. Let me scroll through. I don't think there's any more. Scroll. Okay. Okay. You discuss reasons behind taking a stake in Gfinity and I think we've answered that, the Gfinity joint venture. There'll be more details to come via r and s on the joint venture at the appropriate time.

40:12 We're we're very you know, they're a great team. They're they you know, great people there. You know? And I think the two companies combining on the project that we're working on, it's gonna create a lot of value for both businesses. That's my opinion. Any plans to partner with The USA mobile provider, same question in China? I watch this space. We're always looking for more opportunity to expand audience on that one. Where do you see the there's one about where do you see the company in five or ten years? I mean, if we execute our strategy, what's most I mean, we can grow naturally or what's quite likely to happen is a big organization like Tencent, multibillion pound company, Something like that, a sort of Amazon, Facebook, a Tencent, a huge content provider will most likely just bought probably look to buy the company out, which is what normally happens. So you have a natural growth, but you normally based on the market, significant content providers in the industry, you know, look to but look at Microsoft just bought Activision, Tencent are buying are buying things up. There's a lot of consolidation going on, so it would be a very attractive target for one of these huge multibillion pound companies.

41:34 Any liability are in Russia? No. Nothing at all. We don't have any outsourcing in Russia or Ukraine or anything like that. Do you have a target price for exiting derisking the gfinity investment? No. And I, you know, I think we don't. I think it's a good investment. There are some questions about GANA coming. We have we have to answer those via RNS at the appropriate time. But the contract with GANA, think, so you can say the contract with GANA is live, but we're we're looking to launch some stuff into that, and that'll be the appropriate answer at the time on that.

42:20 Well, why don't why don't why don't I just give you a few moments just to scour through? Because for every one question you seem to answer, there's another two or three that follow-up. Yeah. So forgive me if I my eyes don't wanna No. Don't worry. Look. Let me just remind investors Mark, whilst you've been speaking, I've been writing down all the questions. So I I could run through a few that Mark may not have spotted. Yeah. Nigel, please do. Please do. So one of them was how many full time employees do we have. It's for full time equivalents, I think, is probably the correct phrase. That's just under 10. Would we do a share consolidation? There are mixed views on it. Some investors would like to see a consolidation. I'm sure the nomad would because they, you know, always seem to find it difficult when you've got billions of shares.

43:10 But we've got other investors who are dead set against it. So I think, you know, we'll we'll just wait and see what the market feedback is, but there's no immediate plan to do that. I mean, obviously, it's it's purely cosmetic. You know, why did we do a placing at a 25% discount? Well, you know, all I can say, I've I've been doing placings for about forty years now. And, yep, you can do them at less than twenty five. I've seen much higher discounts, much lower. But I think you've got to be realistic where you are at the time, given the market environment and the size of company. And, yes, personally, I'd have loved a lower discount as a big shareholder, but, you know, that's what was achievable. I mean, there are several questions about when we would be publishing either revenue for cast or subscriber numbers.

44:03 Yeah. I I think as we've said in in previous presentations, the the Nomad is keen for us not to be pumping out monthly figures. I think we've, you know, come come to a sort of mutual agreement that aggregated updates every quarter are probably appropriate, but breaking things down into too much detail is quite difficult. It's also actually becoming more difficult in the sense that, you know, for example, in Argentina and Mexico, our new business revenues go through our old carrier contracts. So if so if you said to me, well, how how do our revenues split between legacy business and the new business, it's not impossible to unravel those, but it it's impossible to unravel them to a level that's auditable.

44:52 So there will be, you know, there will be roughly quarterly updates. News flow over the next few weeks, well, if I told you that, we'd have to shoot you. So we obviously can't tell you what news flow is about to come out. But Mark's breakeven. Roadshows. Well, we we're not planning at the moment to do any physical roadshows, but you're probably aware we did a presentation on shares magazine's virtual roadshow a few weeks ago. We're doing this now, and, yeah, on the basis that investor meet company charges a monthly subscription, we're not gonna sit there and pay it and do nothing. So I think you can assume that you'll see more presentations.

45:41 If there is a demand now that COVID's moved back for a bit more physical meeting, we'd be very happy to do that. We're always accessible. Also, just to add, we're a very accessible management team, Me, Nigel, Tom, anybody. You can always email the company, and you will get a response from us. People often, I think, quite surprised at how detailed and how quick it comes through. So there isn't there isn't you know, we're not standoffish at all. We're very open and transparent. We're always here to answer questions. We do a lot of you know, we try and do a lot of investor relations if we can as much as much as we can, basically. I can see another question here. Vodafone India app is due to launch at the end of the month. Everything ready? Yes. It is. Tom's actually in charge of that. So I'll lean back, and I'll let Tom off as far as I'm aware of it's really too long. So We've some great games on it as well. So you have some great games in it.

46:32 So we we started with about six or seven high quality HTML five games, which will be in the app. Users can download it on the Google Google Play Store at the end of this month, and there's currently, there's no advertising or anything like that on there. Now it's great user experience, and, yeah, yeah, it's really what we see as the start to getting into that that that app app world, which we need to. And then as we start to build and grow that, we're gonna get more games, and we're gonna try and create that into this really vibrant destination where we can just track more players for the the mobile streams gaming world. Have you got plans to ring live live schools? You actually got quite big plans for live schools. With the moment, we're integrating it into all of our carrier connections.

47:18 So we're consolidating and integrating it into everything else. A bit like, I don't know, other software company. Don't even have Microsoft integrated Skype into Teams, and then it's a large because you integrate the tech in. We're we're looking to grow out the b to b element of that. We already have four contracts to use the live scores engine globally with various other companies who are like paying us a monthly fee to to support their services. So watch your space. You be able to advertise in games? Yes. You will be able to. We're not doing it yet. Watch this space. We've got quite a lot of plans actually around sort of esports, live schools, advertising, iGaming, which, you know, could be good revenue drivers. So again, watch this space. What are the games? Can I have a look at them?

48:05 It's gonna be on the Indian App Store, Google Play Store. So I guess yeah. There's obviously, any acquisition of Quanta or anyone else would have to be r and s, so we can't we can't discuss this openly. Would you consider being bought out and have your price in mind? What is your end goal here? Well, as we've talked about, we wanna we wanna try and get a minimum 100,000,000 valuation go up from there. So just leave it at that. Well, there's quite a lot of questions coming in. So just quite good, this system, I have to say. It's a complete side note. This is quite a good presenter system. So We're keeping you we're keeping you on your toes, Mark. They're coming in yeah. Good plug for InvestoMe, I have to say. Plus some. Some of these assets have if you want. And coming in so quickly, I can't I have to let them settle. So let me just take a second. And any further placing expected this year? Well, there's no such thing as a guarantee.

49:09 Yeah. So the management is not gonna sit with a guarantee that we'll never be another placing if this side of hell freezing over. But, yeah, the the reality is we have no plans whatsoever at the moment to do any further placings. We don't need any more money. The only reason I could imagine we would do one is if there's a specific transaction in mind. And there's there's nothing in mind today that would lead to a placing. But, you know, if my nomad was sitting next to me or my lawyer was sitting next to me, they'd be pointing out to you that is not a guarantee that we'll never ever ever again be another one. But there's certainly no plans that we're we're we've got at the moment. I mean, we are in the absolute strongest position we've ever been in without any shadow of a doubt, revenue and cash wise. So let's have a look.

50:00 Have you ever considered a name change to distance yourself from, I guess, the previous management? No. You know, we're we're the brands in the brands, we we turned it around. So, you know, that that that era ended a couple of years ago, two and a bit years ago, and we're doing so much now, so I don't think so. But I think the names are alright. Our affiliates meeting between industry standard. They're in line with industry standard. Would you consider your own esports team? Not at the moment because we wanna partner with lots of different brands that have their own audiences. We wanna bring those brands to our audience to monetize. So we like to do a partnership, and that might be quite a capital intensive thing.

50:45 So we'd we'd rather partner. Someone's saying they're very impressed by all of our answers. So we've done it. That's great. Thank you very much. Appreciate that. Hold on. It's a bit a bit frozen. One sec. I've only got two questions now, so I don't know what happened there. Maybe it's just mine. I can these are new. Okay. Will IGS slightly be extended? Again, that would be RNS support, any information on that. I think I've already answered the one about being bought out. So I've said a lot with I've a multiple things. We're trying to build a company worth in excess of 100,000,000. So I think I think that's all the all the questions answered that we can answer. You've been very you've been very, very generous, Mark. And in fact, you've answered every question that we've had from investors. So thank you to yourself, to Nigel, and for Tom for being so generous with your time Perhaps this if I'm Sorry.

51:44 Just to remind everybody. I mean, as Marcus said, I will guarantee that every question we get sent via our website, because there is a sort of ask a question facility there, We answer every single investor question. You you may not always get the answer you want if you ask for something that's price sensitive. We can't give you, but we will answer every question. So if there's something we've missed today and you still want it asked, go to our website, send the question, and I'll make sure it's responded to. Yeah. Yeah. That That's the sound of face. Scroll quickly on this. So and now there's even more questions coming in, I don't know if we should but What what we'd do, Mark, if I may, is that I I can probably keep you here for the entire day this rate. So I'm mindful of your time, and we are coming up to the hour. But for every question that's been sent in, we'll make these available to the company post case call.

52:36 If if there are any missed, it's purely because on the on the screen, they scroll very quickly. So they then, you know, you can't see them. So we will try our best, as Nigel said, we will try our best to answer every single question. If we've run out of time today, then if there were any apologies, but we've literally gone through everything we can see on on the screen and more are coming in now. So Exactly, Mark. So if I may, I know investor feedback is important to you, to Nigel, and to Tom, and I'll shortly redirect investors to give you their thoughts expectations. And as I said, I'll make all the questions available to you post today's meeting as well so you can review them there. And then we'll publish all the responses back to everybody on this call and make them available on our website. So if I may, ask you for a few closing comments just to wrap up with, and then as I say, I'll redirect investors to give you their thoughts and expectations.

53:24 Yes. Just to say, you know, first of thanks everyone for then for joining us today. We appreciate it. We always like to reach out and speak to potential investors and shareholders. I think that's really important. We think the company is in the strongest position it's ever been in. Our revenue is up 87 and a half percent in the last three months to over a $150,000 a month and still growing, and we expect it to continue growing. We're in a cash, the best position we've ever been in. We've got incredibly strong partnerships. We've already hosted our first events with major brands. We're LinkedIn and connected to enough contracts with some of the biggest companies and brands in the world. We've got extremely aggressive expansion strategy this year that's, you know, again, should do amazing things for the business.

54:10 We think with our market cap, we're, you know, a great opportunity. And so with that, thanks everybody for their time. And we really appreciate it. That's great. Mark, Tom, Nigel, thank you very much indeed for your time this morning. Ladies and gentlemen, please do not close this session as we'll now automatically redirect you for the opportunity to provide your feedback in order that the management team can better understand your views and expectations. This will only take a few moments to complete, but I'm sure will be greatly valued by the company. Behalf of the management team of Mobile Streams PLC, we'd like to thank you for attending today's presentation. That now concludes today's session. Just with a couple of minutes to spare, good morning to you all.