Yesterday, Motorsport Games released its financial report for the last quarter and the previous year. Shareholders can find the results and some data on their website by clicking on the appropriate section through the following link.
As some may know, the company is currently facing serious financing problems and is not in its best shape. We have already summarized the data available on the internet, and unfortunately, the future is not optimistic for the company’s immediate or medium-term future.
During the shareholders’ call, the most significant news was revealed in the webcast, which is not available in written documents.
A Twitter user shared the information that the Indycar game, for which the company has an exclusive license, will not be released this year.
Here's the news on NASCAR '23 from MSGM everyone! Tossing up the IndyCar one next. pic.twitter.com/GQQxOrzV4T
— JPet27 (@JPetschauer) March 24, 2023
Another Twitter user revealed that the reason for this is that the company does not have enough cash flow to fund the development project by the end of the year, and therefore it needs to find alternative financing methods if it wants to finish 2023.
So on the Motorsports Games investor call which is occuring right this moment, they have announced that the #IndyCar game has been delayed to next year.
— David Land™❌ (@DLand91) March 24, 2023
The termination clauses associated with the company’s poor performance in its contract with Indycar are included under the “Term Termination” section of the agreement they signed.
See you on the track!
