Wed, Jul 3, 8:19 PM (66 days ago)
Gamer Pakistan Inc. is a development-stage interactive esports event promotion and product marketing company, primarily focused on creating esports opportunities for colleges and universities in Pakistan. For the fiscal year ended December 31, 2023, the company reported minimal revenue of $733, with a net loss of $2,051,111, primarily due to general and administrative expenses of $2,032,324. The company raised approximately $6.8 million through an IPO in October 2023, with net proceeds of $5.835 million, which are expected to fund operations for 18-24 months. However, the company faces significant risks, including political and economic uncertainty in Pakistan and potential delisting from Nasdaq due to non-compliance with listing rules. As of December 31, 2023, the company had $3.771 million in cash and restricted cash. Future plans include expanding esports events and generating revenue through sponsorships, advertising, and merchandise sales.