GAMEON ENTMT TECHNOLOGIES - GMETF STOCK NEWS

GameOn Entertainment Technologies Inc. (CSE: GET) (OTCQB: GMETF) announced its first profitability in December 2022, significantly driven by new revenue-generating deals. CEO Matt Bailey expressed satisfaction with the cash flow and rapid deal closures exceeding projections. Key milestones include breaking even in October and achieving an Adjusted Net Income of $74,778.42 in December. In total, 11 new deals were closed in 2022, including partnerships with Karate Combat and Gaming Society. The company aims to sustain this growth momentum into 2023.

GameOn Entertainment Technologies Inc. (OTCQB: GMETF) achieved a significant milestone by breaking even in October 2022, fueled by a series of new partnership deals. These arrangements, including collaborations with Karate Combat, RDB Car Club, and Crypto Jets Club, are projected to generate over $1.4M in first-year revenue with an 80% gross margin. CEO Matt Bailey emphasized the company's focus on optimizing resources and pursuing high-value opportunities amid market volatility, positioning GameOn to potentially achieve profitability in 2023.

GameOn Entertainment Technologies has partnered with Karate Combat to launch a branded NFT collection and fantasy game. The initiative allows fans to purchase fighter NFTs and win prizes, with GameOn retaining 80% of revenue. Karate Combat, a rapidly growing sports league, recently transitioned to a DAO model and has an engaged audience with 6.6 million livestreams in August. This collaboration supports GameOn's strategy to expand in web3 through revenue-sharing models and partnerships.

GameOn Entertainment Technologies Inc. (CSE: GET; OTCQB: GMETF) has announced a partnership with Crypto Jets Club, a metaverse platform focused on aviation. This collaboration aims to enhance user engagement and monetize web3 games. GameOn will receive a 15% share of revenue from both primary and secondary NFT sales linked to Crypto Jets Club's upcoming NFT mint. The partnership aligns with GameOn's strategy to grow within the web3 ecosystem, leveraging upfront fees, ongoing license fees, and revenue share from NFT transactions.

GameOn Entertainment Technologies Inc. (CSE: GET, OTCQB: GMETF) filed its Q2 financials and mid-year corporate update, announcing a strategic loan of US$550,000 from Proje Ventures Inc. to enhance profitability goals for 2023. The company reported $330,481 in revenue for Q1 and Q2, up from $10,081 in the first half of 2021, aiming for $1 million in revenue by year-end with an 80% gross profit. GameOn is focusing on customer acquisition with over 10 partners engaged, positioning itself for profitability without significant expense increases in 2023.

GameOn Entertainment Technologies Inc. (CSE: GET, OTCQB: GMETF) has partnered with RDB Car Club to enhance their web3 gaming experience. RDB LA, a celebrity-driven auto body shop, will license GameOn's technology to boost engagement and sales, particularly from their NFT collection. GameOn gains 10% equity in the project and revenue share from NFT sales. CEO Matt Bailey expresses enthusiasm for this expansion into the auto sector, emphasizing potential profitability and ongoing collaboration within the web3 ecosystem.

GameOn Entertainment Technologies Inc. (CSE: GET, OTCQB: GMETF) has secured a $550,000 loan from Proje Ventures Inc. to support general working capital. Following a substantial revenue increase from $2,791 in Q1 2021 to $207,151 in Q1 2022, the company aims to reach $1 million in revenue for 2022 and achieve profitability in 2023. The loan carries a 14% annual interest rate, maturing 18 months post-closure, and is secured against the company’s recurring revenue. Additionally, GameOn issued over 5.6 million common share purchase warrants associated with the loan.

GameOn Entertainment Technologies (CSE: GET, OTCQB: GMETF) announced the acquisition of a US$560,000 non-convertible loan from Proje Ventures for general working capital. The loan carries a 14% interest rate maturing in 18 months and is secured against monthly recurring revenue. GameOn reported a significant revenue increase to $207,151 in Q1 2022 from just $2,791 in Q1 2021, with expectations to reach $1 million for the year and achieve profitability by 2023. CEO Matt Bailey emphasized this partnership will enable the company to thrive in current market conditions.

GameOn Entertainment Technologies Inc. announced the appointment of David Meltzer to its Board of Directors effective June 16, 2022. Meltzer, co-founder of Sports 1 Marketing and former CEO of Leigh Steinberg Sports & Entertainment, brings extensive experience in the sports and entertainment industry. His role is expected to enhance GameOn's strategy in web3-based prediction and fantasy games, contributing to revenue and profitability goals. The company also announced that J Moses is stepping down as a Director to become Special Advisor to the CEO, with Carey Dillen assuming the role of Chairwoman.