Emerge Gaming Enters Trading Halt, What Next?
At time of writing, Emerge Gaming Limited [ASX:EM1] is in a trading halt pending a further announcement.
The share price of this tiny company has rocketed up since mid-February:
Source: marketindex.com.au
The latest news out of the company is that it will be in a trading halt until Friday or when an announcement is released to the market.
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Why did Emerge Gaming seek a trading halt?
Having previously announced its marketing strategy, the company has now sought a trading halt pending what sounds like a big announcement.
Per today’s announcement, ‘The trading halt is requested pending the announcement of a global joint venture agreement with a mobile gaming and entertainment group.’
Its revenue has increased substantially over the last year, but it still had a loss of $887,926 during this period as well.
It’s got cash and cash equivalents of approximately $2.3 million, so it will be looking to quickly grow its footprint.
The question now is, who could this global joint venture partner be?
A couple speculative ideas
While it is pure speculation, there are currently two other potentially related companies in trading halts at the moment.
One is Fatfish Blockchain Limited [ASX:FFG] and the other is iCandy Interactive Limited [ASX:ICI].
Of these two, only iCandy provides further details on the reason they are in a trading halt.
Per its announcement, ‘the trading halt is requested pending an announcement by the Company to the market in connection to a collaboration agreement.’
Fatfish Blockchain is an internet venture accelerator and iCandy is a digital entertainment company/investment holding company that has 350 million mobile users and over 500 million downloads.
Of these two, iCandy strikes me as the more meaningful partnership, but investors will likely be hoping the announcement is even bigger than one that involves these two companies.
Time will tell.
Regards,
Lachlann Tierney
For Money Morning
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