UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
___________________
FORM 8-K
__________________
CURRENT REPORT
Pursuant to Section 13 or 15(d)
of the Securities Exchange Act of 1934
Date of Report (date of earliest event reported):
May 13, 2021
Elys Game Technology, Corp.
(Exact name of Registrant as specified in its charter)
(Former name or former address, if changed since last
report)
Delaware |
001-39170 |
33-0823179 |
(State or other jurisdiction of Incorporation or organization) |
(Commission File Number) |
(I.R.S. Employer Identification No.) |
130 Adelaide Street West, Suite 701
Toronto, Ontario M5H 2K4, Canada
(Address of Principal Executive Offices)
1-628-258-5148
(Registrant’s Telephone Number, Including Area
Code)
Check the appropriate box below if the Form 8-K filing
is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction
A.2. below):
☐
Written communications pursuant to Rule 425 under the Securities Act (17 CFR
230.425)
☐
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange
Act (17 CFR 240.14d-2(b))
☐
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange
Act (17 CFR 240.13e-4(c))
Securities registered pursuant to Section 12(b) of
the Act:
Title of each class |
Trading Symbol(s) |
Name of each exchange on which registered |
Common Stock |
ELYS |
The Nasdaq Capital Market |
Securities registered pursuant to Section 12(g) of
the Act: None
Indicate by check mark whether the registrant is an
emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities
Exchange Act of 1934 (§240.12b-2 of this chapter).
☐
Emerging growth company
If
an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying
with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item 2.02 |
Results of Operation and Financial Condition |
On May 13, 2021, Elys Gaming Corp. (the “Company”)
issued a press release announcing results of operations for the quarter ended March 31, 2021. A copy of the press release is furnished
as Exhibit 99.1 to this Current Report on Form 8-K and is incorporated herein by reference.
The information in this Item 2.02 and in the press
release attached as Exhibit 99.1 to this Current Report on Form 8-K shall not be deemed to be “filed” for purposes of Section
18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of that section or Sections 11 and 12(a)(2)
of the Securities Act of 1933, as amended. The information contained in this Item 2.02 and in the press release attached as Exhibit 99.1
to this Current Report on Form 8-K shall not be incorporated by reference into any filing with the U.S. Securities and Exchange Commission
made by the Company, whether made before or after the date hereof, regardless of any general incorporation language in such filing.
Elys Game Technology, Corp. (the “Company”) will be making
corporate presentations regarding business updates from time to time over the next several weeks. In connection with the presentations,
the Company intends to discuss the slide presentation attached as Exhibit 99.2 hereto, which is incorporated herein by reference.
The slide presentation filed as Exhibit 99.2 to this Current Report on
Form 8-K includes “safe harbor” language pursuant to the Private Securities Litigation Reform Act of 1995, as amended, indicating
that certain statements contained in the slide presentation or in the press release are “forward-looking” rather than historical.
The information contained in this Current Report on Form 8-K speaks only
as the date hereof and the Company undertakes no duty or obligation to update or revise information included in this Current Report on
Form 8-K or Exhibit 99.1 and Exhibit 99.2 hereto.
Item 9.01 |
Financial Statements and Exhibits. |
(d) Exhibits.
The following exhibit is furnished with this Current Report on Form 8-K.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
Date: May 13, 2021 |
ELYS GAME TECHNOLOGY, CORP.
|
|
|
|
By: /s/ Matteo Monteverdi |
|
Name: Matteo Monteverdi |
|
Title: Chief Executive Officer |
Exhibit 99.1
Elys Game Technology Achieves 39% Revenue Growth
and Reports Record Revenue of $14.2 Million for the First Quarter of 2020
Web-based gaming turnover increases 150% versus the
same period last year
Reports cash and cash equivalents of $21.5 million
and no long-term debt as of March 31, 2021
NEW YORK, May 13, 2021 – Elys Game Technology,
Corp. (“Elys” or the “Company”) (Nasdaq:ELYS), an interactive gaming and sports betting technology company, today
provided a business update and reported financial results for the first quarter ended March 31, 2021. The complete financial results are
available in the Company’s Form 10-Q, as filed with the Securities and Exchange Commission on May 13, 2021, which is available at
www.sec.gov.
Matteo Monteverdi, CEO of Elys Game Technology, Corp.,
commented “As illustrated by record revenue of $14.2 million for the first quarter of 2021, a 39% increase in revenue over the same
period last year and on a combined record quarterly wager turnover of approximately $243 million in Q1 2021, the disciplined growth strategy
we previously set out has been executed extremely well. Our web-based gaming turnover increased by an impressive 150% over the same period
last year and we continue to generate strong cash flow from operations. Our management team is working to further capitalize on the success
of our operations in Italy by focusing product distribution under our strong Multigioco brand.”
Mark Korb, CFO of Elys Game Technology, Corp. commented,
“We have made significant investments to support our U.S. expansion. These investments have resulted in short-term, non-recurring
expenses as we address key regulatory and policy requirements that have impacted our bottom line resulting in a net loss of $0.6 million
for the first quarter of 2021, compared to a net income of $0.2 million for same prior year period. Net loss in the first quarter of 2021
also included approximately $0.4 million of stock-based compensation and $0.25 million of expenses related to our expansion into US markets.
We continue to maintain a disciplined spending approach by allocating discretionary cash towards future business opportunities. However,
we believe that we are building a highly scalable business model, with the potential to generate very significant incremental margins,
cash flow and profitability. We also generated over $3.9 million of proceeds from the exercise of warrants during the first quarter of
2021. As a result, we both streamlined our capital structure and now have over $21.5 million of cash and cash equivalents as of March
31, 2021 with no long-term debt.”
Michele (Mike) Ciavarella, Executive Chairman of Elys
Game Technology, Corp., added, “We are more encouraged than ever by the outlook for the business both in Europe and as we plan our
expansion into North America, especially as and when the pandemic begins to wane and land-based operations resume. Given the successful
track record in Italy, we believe that we are ideally positioned to become a competitive player as regulations evolve, opening up new
markets across North America and Europe.
Our balance sheet is now stronger than at any time
in our history and we believe we intend to continue to execute on our growth strategy and vision of building a premier, end-to-end sports
betting solution.”
About Elys Game Technology, Corp.
Elys Game Technology, Corp., is a B2B global gaming
technology company operating in multiple countries worldwide, with B2C online and land-based gaming operations in Italy. In Italy, Elys
offers its clients a full suite of leisure gaming products and services, such as sports betting, e-sports, virtual sports, online casino,
poker, bingo, interactive games and slots.
The Company’s innovative wagering solution services
online operators, casinos, retail betting establishments and franchise distribution networks. Additional information is available on our
corporate website at www.elysgame.com.
Investors may also find us on Twitter @ELYS_gaming.
Forward-Looking Statements
This press release contains certain forward-looking
statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These statements
are identified by the use of the words “could,” “believe,” “anticipate,” “intend,” “estimate,”
“expect,” “may,” “continue,” “predict,” “potential,” “project”
and similar expressions that are intended to identify forward-looking statements and include statements regarding building a highly scalable
business model, with the potential to generate very significant incremental margins, cash flow and profitability, expanding into North
America, becoming a competitive player as regulations evolve opening up new markets across North America and Europe and continuing to
execute on the Company’s growth strategy and vision of building a premier, end-to-end sports betting solution. These forward-looking
statements are based on management’s expectations and assumptions as of the date of this press release and are subject to a number
of risks and uncertainties, many of which are difficult to predict that could cause actual results to differ materially from current expectations
and assumptions from those set forth or implied by any forward-looking statements. Important factors that could cause actual results to
differ materially from current expectations include, among others, the Company’s ability to generate very significant incremental
margins, cash flow and profitability, the Company’s ability to open up new markets and expand into North America and Europe as regulations
evolve, the Company’s ability to execute on its Company’s growth strategy and vision, the duration and scope of the COVID-19
outbreak worldwide, including the impact to state and local economies, and the risk factors described in the Company’s Annual Report
on Form 10-K for the year ended December 31, 2020 and its subsequent filings with the U.S. Securities and Exchange Commission, including
subsequent periodic reports on Form 10-Q and current reports on Form 8-K. The information in this release is provided only as of the date
of this release, and the Company undertakes no obligation to update or revise publicly any forward-looking statements, whether as a result
of new information, future events or otherwise, after the date on which the statements are made or to reflect the occurrence of unanticipated
events, except as required by law.
Contact:
Crescendo Communications, LLC
David Waldman
Tel: (212) 671-1020
Email: elys@crescendo-ir.com
Exhibit 99.2
Elys Game Technology, Corp. investor presentation
dated May 2021
Please refer to the accompanying Exhibit 99.2. It is
saved in PDF format.
This regulatory filing also includes additional resources:
exhibit_99-2.pdf
Elys Game Technology (NASDAQ:ELYS)
Historical Stock Chart
From Aug 2024 to Sep 2024
Elys Game Technology (NASDAQ:ELYS)
Historical Stock Chart
From Sep 2023 to Sep 2024