UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

FORM 12b-25

 

NOTIFICATION OF LATE FILING

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SEC FILE NUMBER
001-39262
 
CUSIP NUMBER
 

 

(Check one): ☐ Form 10-K ☐ Form 20-F ☐ Form 11-K ☒ Form 10-Q ☐ Form 10-D ☐ Form N-CEN ☐ Form N-CSR
   
  For Period Ended: March 31, 2023
   
  ☐ Transition Report on Form 10-K
   
  ☐ Transition Report on Form 20-F
   
  ☐ Transition Report on Form 11-K
   
  ☐ Transition Report on Form 10-Q
   
  ☐ Transition Report on Form N-SAR
   
  For the Transition Period Ended:

 

 

Read Instruction (on back page) Before Preparing Form. Please Print or Type.

Nothing in this form shall be construed to imply that the Commission has verified any information contained herein.

 

 

If the notification relates to a portion of the filing checked above, identify the Item(s) to which the notification relates:

 

PART I — REGISTRANT INFORMATION

 

ESPORTS ENTERTAINMENT GROUP, INC.
Full Name of Registrant

 

 
Former Name if Applicable

 

Block 6, Triq Paceville
Address of Principal Executive Office (Street and Number)

 

St. Julians, Malta, STJ 3109
City, State and Zip Code

 

 

 

 

 

 

PART II — RULES 12b-25(b) AND (c)

 

If the subject report could not be filed without unreasonable effort or expense and the registrant seeks relief pursuant to Rule 12b-25(b), the following should be completed. (Check box if appropriate)

 

  (a) The reasons described in reasonable detail in Part III of this form could not be eliminated without unreasonable effort or expense;
     
  (b) The subject annual report, semi-annual report, transition report on Form 10-K, Form 20-F, Form 11-K, Form N-CEN or Form N-CSR, or portion thereof, will be filed on or before the fifteenth calendar day following the prescribed due date; or the subject quarterly report of transition report on Form 10-Q or subject distribution report on Form 10-D, or portion thereof will be filed on or before the fifth calendar day following the prescribed due date; and
     
  (c) The accountant’s statement or other exhibit required by Rule 12b-25(c) has been attached if applicable.

 

PART III — NARRATIVE

 

State below in reasonable detail the reasons why Forms 10-K, 20-F, 11-K, 10-Q, 10-D, N-CEN, N-CSR, or the transition report or portion thereof, could not be filed within the prescribed time period.

 

ESPORTS ENTERTAINMENT GROUP, INC. (the “Registrant”) was unable, without unreasonable effort or expense, to file its Quarterly Report on Form 10-Q for the quarterly period ended March 31, 2023 (the “Quarterly Report”) by the May 15, 2023 filing date applicable to smaller reporting companies due to a delay experienced by the Registrant in completing its financial statements and other disclosures in the Quarterly Report. As a result, the Registrant is still in the process of compiling required information to complete the Quarterly Report for the period ended March 31, 2023. The Registrant anticipates that it will file the Quarterly Report no later than the fifth calendar day following the prescribed filing date.

 

PART IV — OTHER INFORMATION

 

(1) Name and telephone number of person to contact in regard to this notification

 

  Michael Villani   (356)   2713 1276
  (Name)   (Area Code)   (Telephone Number)

 

(2) Have all other periodic reports required under Section 13 or 15(d) of the Securities Exchange Act of 1934 or Section 30 of the Investment Company Act of 1940 during the preceding 12 months or for such shorter period that the registrant was required to file such report(s) been filed? If answer is no, identify report(s).
  Yes ☒ No ☐
   
(3) Is it anticipated that any significant change in results of operations from the corresponding period for the last fiscal year will be reflected by the earnings statements to be included in the subject report or portion thereof?
  Yes ☒ No ☐
   
  If so, attach an explanation of the anticipated change, both narratively and quantitatively, and, if appropriate, state the reasons why a reasonable estimate of the results cannot be made.
   
  The results are expected to be fundamentally different from last year. Revenues are expected to have decreased significantly as result of the sale of the Bethard iGaming business and Spanish iGaming operations and the previous closing of the Argyll UK iGaming operations and regulatory changes that have impacted the three and nine months ended March 31, 2023 when compared to the three and nine months ended March 31, 2022, respectively. In addition, for the three months ended March 31, 2023, the Registrant expects to report significant loss on disposal of its businesses and a significant reduction in its debt and liabilities from a combination of the disposals noted above and the conversions of its Senior Convertible Note.

 

 

 

 

ESPORTS ENTERTAINMENT GROUP, INC.

(Name of Registrant as Specified in Charter)

 

has caused this notification to be signed on its behalf by the undersigned hereunto duly authorized.

 

Date: May 15, 2023 By: /s/ Michael Villani
  Name: Michael Villani
  Title: Interim Chief Financial Officer and Controller

 

 

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