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Mobile Global Esports Inc. (NASDAQ: MGAM), often referred to as MOGO, is a pioneering mobile and social platform dedicated to collegiate esports tournaments. With a strong foothold in India, the world's fastest-growing digital market, MOGO orchestrates a variety of competitive, collegiate-level esports tournaments across the nation. The company's mission is to foster the growth of esports at the collegiate level, making competitive gaming more accessible and inclusive.
One of MOGO's recent achievements is the successful production of the 'MOGO National Championship 2.0,' a landmark event that featured 16 teams from various Indian universities competing in live, LAN tournaments. The event, held at Lovely Professional University, was in collaboration with Elite Power Sports, Skyesports, and S8UL Esports, elevating the championship to a professional level and showcasing remarkable skills and thrilling competitive play.
MOGO has also expanded its initiatives by establishing the All India University Esports Championship in partnership with Sage University, Bhopal. This collaboration aims to bolster the esports ecosystem in India, uniting top university teams and offering an exceptional gaming experience. The company has consistently led efforts to promote esports through events like the MOGO Collegiate Championship, featuring games such as FC24, BGMI, Valorant, Pokémon, and CODM, with a significant prize pool to incentivize participation.
In addition to organizing tournaments, MOGO has launched innovative programs like 'Mogo Maniacs,' a Campus Ambassadors Program designed to cultivate a dynamic gaming community within top universities. This initiative aims to bridge the gap between amateur esports enthusiasts and professional gaming opportunities.
Financially, MOGO continues to navigate the market environment while striving to meet Nasdaq's compliance requirements. The company's commitment to excellence in esports is reflected in its strategic partnerships and ongoing efforts to create value for gamers, colleges, brands, and the wider esports ecosystem.
For more information about Mobile Global Esports Inc. and its future events, visit their official website and follow them on social media.
Mobile Global Esports Inc. (NASDAQ:MGAM) announced on April 17, 2023, that it received a notification letter from NASDAQ, indicating it is not complying with the minimum bid price requirement of $1.00 per share, as defined in NASDAQ Listing Rule 5550(a)(2). This non-compliance was based on the company's closing bid price for 31 consecutive business days ending April 10, 2023. The company has until October 9, 2023, to regain compliance by maintaining a closing bid price of at least $1.00 for 10 consecutive trading days. While this notification does not immediately affect the listing, failure to comply may lead to delisting. The company aims to enhance shareholder value through expansion in the Indian esports market while managing resources to meet the bid price requirement.
Mobile Global Esports Inc. (MGAM) announced on March 28, 2023, its initiative to recruit brand partners for collaborative alpha market research in India's collegiate esports and mobile gaming sectors. The Indian mobile gaming market is forecasted to grow at a 19.75% CAGR through 2027. MOGO plans to leverage unique user data, including geolocation analytics, to enhance brand offerings targeted at this expanding demographic. With approximately 37 million college students and a growing middle class, MOGO sees a significant opportunity in the mobile gaming sector. The company emphasizes precision data modeling to create actionable insights for brands looking to engage effectively with this market.
Mobile Global Esports, Inc. (MGAM) has appointed Venable LLP as outside counsel to provide strategic advice on licensing, marketing, and technology asset management. MOGO focuses on competitive university esports in India, backed by a rapidly growing gaming community of over 507 million mobile gamers. The partnership aims to bolster MOGO's intellectual property rights related to collegiate esports, enhancing their market position. CEO Dave Pross emphasized the importance of this collaboration for security and privacy for platform users. Established in March 2021, MOGO went public in July 2022 and targets expansion in South Asian markets.
Mobile Global Esports Inc. (NASDAQ:MGAM) has launched its MOGO Campus Ambassadors program in India, enrolling 138 students from various colleges. This initiative aims to enhance collegiate esports networking and provide students with hands-on experience in organizing and promoting esports tournaments. CEO Dave Pross emphasized the program's role in expanding brand awareness and fostering student careers in esports. The ambassadors will assist in managing relationships with educational institutions and developing social media engagement ahead of the upcoming #MOGO social platform launch. Interested students can reach out to get involved in the program.
Mobile Global Esports Inc. (NASDAQ:MGAM) announced the appointment of Nicholas Venezia as Chief Data Officer. With over a decade of experience across various industries, Venezia aims to enhance the company's data strategies, particularly in the growing Indian collegiate esports market. CEO Dave Pross emphasized the importance of managing data securely and fostering community engagement. This move positions MOGO to be a leader in esports amid evolving internet privacy regulations. MOGO is focused on creating an infrastructure that protects player data while promoting interaction within the esports ecosystem.
Mobile Global Esports Inc. (NASDAQ:MGAM) announced it has regained compliance with Nasdaq listing requirements, eliminating the risk of delisting. The company had previously been notified on December 22, 2022, that it was out of compliance due to a per share stock price below $1 for 30 consecutive business days. Following a 10-day period from January 5 to January 19, 2023, during which its stock price remained at or above $1, Nasdaq confirmed on January 20, 2023, that the compliance issue is resolved. MOGO is focused on developing collegiate esports in India and expanding its mobile esports business.
Mobile Global Esports (NASDAQ:MGAM) announced it received a NASDAQ notification letter on December 22, 2022, due to non-compliance with the minimum bid price requirement. The company's ordinary shares closed below $1.00 for 31 consecutive business days, from November 8 to December 21, 2022. MGAM has until June 19, 2023, to regain compliance by maintaining a closing bid price of at least $1.00 for 10 consecutive trading days. While the notification does not affect current trading, the company aims to enhance shareholder value through expansion in the Indian esports market.
Mobile Global Esports (NASDAQ: MGAM) announced a $1 million share repurchase program to enhance long-term shareholder value. CEO David Pross highlighted their confidence in market opportunities and the strength of their balance sheet, suggesting the current valuation doesn't reflect MOGO's potential. The buyback allows for shares to be repurchased through various means, depending on market conditions. As of September 30, 2022, there were approximately 18.1 million shares outstanding. The company aims to strategically deploy resources for growth amidst favorable market factors.
Mobile Global Esports Inc. (NASDAQ: MGAM) announced the appointment of Rishi Jaitly as Chief Strategic Advisor on December 8, 2022. Jaitly, a seasoned entrepreneur and executive, previously led Twitter's entry in India and was the Founding CEO of Times Bridge. He aims to enhance MOGO's mission of expanding collegiate esports in India, focusing on unlocking potential for young athletes. MOGO, established in March 2021, specializes in mobile esports and social platforms, and has trademark rights for collegiate esports tournaments in India.
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