Allied Gaming & Entertainment Inc. Q4 FY2021 earnings call

• Lyle Berman provided an update on the strategic process for the esport business, ongoing activities with cash from the sale of WPT, and engaged Benchmark as exclusive adviser for potential business combination.
• Roy Anderson discussed fourth quarter and full-year financial results, recovery from COVID-19 with increased demand for tournaments and production services, growth in in-person and multi-platform content pillars, cash position at $97.9 million including restricted cash, and working capital surplus of $89 million at Dec 31, 2021.

For the fourth quarter, total revenues were $1.9 million, up 107.8% year-over-year. In-person revenues totaled $1.6 million in the fourth quarter of 2021, compared to $700,000 in the prior year period. Multi-platform content revenues were $400,000 in the fourth quarter of 2021, compared to $200,000 in the prior year period. Total costs and expenses for the fourth quarter were $5.7 million, a decrease of 64% from the prior year period. Adjusted EBITDA for the fourth quarter was a loss of $2.1 million compared to a loss of $7.8 million in the prior year period. Cash position at Dec 31, 2021 was $97.9 million including $5 million of restricted cash, up from $5.4 million at Dec 31, 2020.

• Exploring strategic options for the esport business with ongoing discussions with potential buyers.
• Working to find the best opportunity to maximize value for shareholders, expecting AESE shareholders to receive full value of cash balance rather than current market cap.

• Forward-looking statements may not be attained due to various factors discussed in public filings, including risk factors in SEC documents.
• Certain financial information represents non-GAAP measures with risks associated with their use.

Q: A: Q: A: No questions in the queue at this time