Company update and strategic review
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Guild Esports (LSE: GILD), a global gaming-focused media business, announces preliminary findings from its ongoing strategic review including the Company's financial position.
Guild Esports' cash position was £25,000 as at 31 July 2024. The Company's confirmed liabilities until the end of September 2024 total £1.36 million, with accounts receivable amounting to £1.52 million.
The Company is actively exploring a range of options to allow the Company to meet its short-term liabilities as they fall due. Measures under consideration include securing additional funding, negotiating improved payment terms with creditors, and further cost reduction initiatives to conserve cash reserves.
In addition to the fundraising avenues, the Board is reviewing the strategic direction of the Company, including the realisation of assets to generate cash or whether the Company would be best served by being part of a larger group.
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