• Akira Toriyama passed away

    Let's all commemorate together his legendary work and his impact here

Motorsport Games Q4 & Full Year CY2023 Results. $1.1 million net profit in Q4. $14.3 million net loss FY2023. Le Mans Ultimate sold 55,000 in 10 days.

KR_EP

Member
Expert
FEEL LIKE A PILOT. BE A LANDING HERO.
The unstoppable force, the immovable (insolvent) object...

Ferrari_488_GTE_6x1.gif
Porsche_963_6x1.gif

Previously on InstallBase
Motorsport Games Q3 FY2023 Results. $1.7 million revenue. $3.5 million loss. LeMans Ultimate delay. INDYCAR®️ game suspended. BTCC calls TOCA time.

Too Long Didn't Race

Investor Relations (IR)
Financial Year (FY)
January - December​
“2023 was a year of repositioning. Reducing costs, headcount and projects allowed us to focus on what we know best, making innovative games. Having determined the correct direction for the company, we put our energy into Le Mans Ultimate, an innovative team-based racing title from our internal team, Studio 397. All efforts were redirected to make this a success, and as part of the delivery, we set about reestablishing ourselves in the eyes of players.” Stephen Hood, President and Chief Executive Officer of Motorsport Games commented. “This reworking of what had become a complex business, was at times a difficult process. But the renewed energy on display from our tightly knit team became our guiding light.”

Select Financial Highlights (Q4 FY2023)
Revenue: $1.7 million
Net Profit: $1.1 million
Gain on sale of NASCAR License: $3.0 million
Select Financial Highlights (Full Year CY2023)
Revenue: $6.9 million
Net Loss: $14.3 million
Company recognizing impairment losses of $4.0 million in 2023
Cash Flow and Liquidity
As of December 31, 2023, the Company had cash and cash equivalents of approximately $1.7 million.
As of April 1, 2024, the Company’s cash and cash equivalents has decreased to $1.3 million.
During the 12months ended December 31, 2023, the Company had negative cash flows from operations of approximately $12.9 million, representing an average monthly net cash burn from operations of approximately $1.1 million.
Fourth Quarter 2023 and Subsequent Business Update
  • Expense reductions under the previously announced 2022 Restructuring Program has yielded savings of $6.7 million as of the end of 2023
  • Closed Motorsport Games Australia to centralise development efforts and reduce cost
  • Released Le Mans Ultimate into Early Access in February 2024, the official game of the FIA World Endurance Championship and the 24 Hours of Le Mans to positive community reception with initial sales above internal forecasted levels
“This past year marks a significant milestone in the rebuilding of the company” continued Hood. “With a strong sense of direction and energy, we became a games company again, ready to deliver through 2024.” By rebuilding you mean firing game developers, relinquishing multiple licenses Motorsport Games will almost certainly never be able to get back in order to somehow become a games company again. Yet despite a rough start the developers at Studio 397 has managed to exceed sales expectations on Early Access by a considerable margin.

“Within the first 36 hours of release into early access, Le Mans Ultimate sold as many units as we had projected from the opening 10 days,” said Motorsport Games Chief Executive Officer, Stephen Hood during its Q4 and full-year 2023 earnings call, 1st April 2024.

“It's gone on to continually sell above expectations and we have revised internal forecasted sales numbers to account for this higher-than-expected update.

“We had anticipated, with a strong tailwind, selling 18,000 copies in the opening 10 days. In reality, the reception was so strong that we sold more than 55,000 copies.

“This title is our springboard for a vision we have been working towards for the last several months, which we believe signifies a turning point in the recent history of our company.”
RISK FACTORS SUMMARY
We are subject to a variety of risks and uncertainties, including risks related to our financial condition and liquidity; risks related to our business and industry; risks related to our relationship with Driven Lifestyle Group LLC (“Driven Lifestyle”), formerly known as Motorsport Network, LLC, which controls more than a majority of our issued and outstanding voting shares; risks related to our Company; risks related to the ownership of our Class A common stock; and certain general risks, which could have a material adverse effect on our business, financial condition, liquidity, results of operations and cash flows. These risks include, but are not limited to, the following principal risks:
We have incurred significant losses since our inception, and we expect to continue to incur losses for the foreseeable future. Accordingly, our financial condition raises substantial doubt regarding our ability to continue as a going concern.
We will require additional capital to meet our financial obligations, and this capital might not be available on acceptable terms or at all.
Limits on our borrowing capacity under the $12 million Line of Credit may affect our ability to finance our operations.
As I've mentioned before, this summary above shows the unresolved problems, the biggest one is the line of credit from the (privately owned) parent company mentioned on page 7 is a big point of contention, the interest rate, why money continued to be removed when it should be invested. Will take a look through all 77 pages at the weekend for anything else new that is of interest. As for the year ahead, all depends on LeMan Ultimate, rFactor 2 DLC sales & revenue from NASCAR titles before the license expires. Right, let's end on a good (mod) note:
screenshot-2024-03-18-153553-jpg.739538
creator-jpg.739536
How My Sweet Summer TOCA Childhood Was Ruined by Corrupt Crooked Corporate Reality. Here's a handy Overtake.gg Primer for BTCC cars & liveries in rFactor 2 & GT7 plus the latest mods.
 
Last edited:
Looks like things are slowly getting better. They've significantly decreased their cost base. The cash outflow in Q1 2024 was only $400k, and I believe that doesn't include any income from Le Mans Ultimate.

They sold 55k units in the first 10 days, i.e. 20th February through 29th February. The game retails at $32.99 / €29,99 on Steam, so very rough napkin math would suggest close to $1m in revenue for the publisher (55x30 = $1.8m storefront revenue, but in reality it's a bit lower due to regional pricing). So I think there are no immediate liquidity problems.
 
Looks like things are slowly getting better. They've significantly decreased their cost base. The cash outflow in Q1 2024 was only $400k, and I believe that doesn't include any income from Le Mans Ultimate.
from as near as I can tell, the market for a game like this seems to be enjoying it quite a bit.
which has been the first bit of good news for Motorsport games that they've had in a while.
They sold 55k units in the first 10 days, i.e. 20th February through 29th February. The game retails at $32.99 / €29,99 on Steam, so very rough napkin math would suggest close to $1m in revenue for the publisher (55x30 = $1.8m storefront revenue, but in reality it's a bit lower due to regional pricing). So I think there are no immediate liquidity problems.
Hmmnn, I don't think they walk away with that via the revenue if only because you always have to mark in the 30% cut that goes straight to Valve on every unit sold.
 
Before replying to both posts, a few pieces of news & background information to give some idea of how Motorsport Games (MSG) is looking to generate revenue. A recent sale for rFactor 2 DLC is a sign this may well end up being a quarterly thing as there was a similar one in December. Perhaps they'll do similar promotions with various NASCAR titles in its back catalogue before the rights expire December 31, 2024. More importantly is to highlight passages on the Early Access Guide & Forward-Looking Statements (bold emphasis is mine throughout):

16_9.jpg

Spring has sprung! And to celebrate rFactor 2 is part of the Steam Spring Sale with some unmissable deals on some incredible packs.​

WHAT’S COMING TO LE MANS ULTIMATE? A GUIDE TO EARLY ACCESS AND AN INTENDED DEVELOPMENT PATHWAY

...As new content becomes available some standard DLC will incorporated into the base game for free to existing users, with the price of the base game increasing over time for new players who join the Le Mans Ultimate journey at a later date.
Forward-Looking Statements
...(iii) the Company’s plans, expectations and beliefs relating to its Le Mans Ultimate game, such as the belief that the release of Le Mans Ultimate signifies a turning point in the Company’s recent history, expectations regarding future sales of Le Mans Ultimate based on initial sales figures exceeding internal forecasts, plans to continue pushing out fixes and updates to continually improve the product, plans to bring new content and features to the Le Mans Ultimate experience, as well as complementary services, which the Company anticipates will, in due course, provide additional revenue streams, such as with paid DLC and potential subscription models, and expectations that the actual 24 Hours of Le Mans race will be another opportunity for increased visibility and sales for the Le Mans Ultimate game; (iv) the Company’s expectations and beliefs relating to its licensing agreement with Kindred Concepts, including the belief that the expansion of the F1 Arcade experience could provide a springboard to new opportunities in both gaming and esports; (v) the Company’s plans for 2024 to focus on continuing to build on the positive momentum around the Le Mans Ultimate release with new updates, additional services through RaceControl and DLCs, as well as tapping into highly valuable marketing opportunities;
Looks like things are slowly getting better. They've significantly decreased their cost base. The cash outflow in Q1 2024 was only $400k, and I believe that doesn't include any income from Le Mans Ultimate.
Hard to say because despite providing figures for cash in hand & monthly expenses, we're still left with the usual/unacceptable situation of a publicly listed company being a subsidiary to a privately owned one (Motorsport Network, rebranded Driven Lifestyle because 10% reasons) that owns a majority stake. Not sure where best to find more about privately owned US companies using Open Source Intelligence (OSINT) but without knowing what financial resources it has on hand & could still put into MSG rather than siphoning out!
On April 1, 2020, the Company entered into a promissory note (the “$12 million Line of Credit”) with the Company’s majority stockholder, Driven Lifestyle, that provided the Company with a line of credit of up to $10 million (which was subsequently increased to $12 million pursuant to an amendment executed in November 2020) at an interest rate of 10% per annum, the availability of which is dependent on Driven Lifestyle’s available liquidity. The $12 million Line of Credit does not have a stated maturity date and is payable upon demand at any time at the sole and absolute discretion of Driven Lifestyle, and any principal and accrued interest owed will be accelerated and become immediately payable in the event the Company consummates certain corporate events, such as a capital reorganization. The Company may prepay the $12 million Line of Credit in whole or in part at any time or from time to time without penalty or charge. Additionally, see “Risk Factors – Risks Related to Our Financial Condition and Liquidity - Limits on our borrowing capacity under the $12 million Line of Credit may affect our ability to finance our operations” in Part I, Item 1A of this Report.
NOTE 8 – RELATED PARTY LOANS
The Company has a $12 million line of credit with its majority shareholder, Driven Lifestyle (the “$12 million Line of Credit”), which bears interest at an annual rate of 10%, the availability of which is dependent on Driven Lifestyle’s available liquidity. The $12 million Line of Credit does not have a stated maturity date and is payable upon demand at any time at the sole and absolute discretion of Driven Lifestyle, and any principal and accrued interest owed will be accelerated and become immediately payable in the event the Company consummates certain corporate events, such as a capital reorganization. The Company may repay the $12 million Line of Credit in whole or in part at any time or from time to time without penalty or charge.

On September 8, 2022, the Company entered into a support agreement with Driven Lifestyle (the “Support Agreement”) pursuant to which Driven Lifestyle issued approximately $3 million (the “September 2022 Cash Advance”) to the Company in accordance with the $12 million Line of Credit. Additionally, the Support Agreement modified the $12 million Line of Credit such that, among other things, until June 30, 2024, Driven Lifestyle would not demand repayment of the September 2022 Cash Advance or other advances under the $12 million Line of Credit, unless certain events occurred, as prescribed in the Support Agreement, such as the completion of a new financing arrangement or the Company generates positive cash flows from operations, among others. All principal and accrued interest owed on the $12 million Line of Credit were exchanged for equity following the completion of two debt-for-equity exchange agreements with Driven Lifestyle on January 30, 2023 and February 1, 2023, relieving the Company of approximately $3.9 million in owed principal and unpaid interest in exchange for an aggregate of 780,385 shares of the Company’s Class A common stock.

As of December 31, 2023, the $12 million Line of Credit remains in place. However, the Company believes that there is a substantial likelihood that Driven Lifestyle will not fulfill any future borrowing requests, and therefore does not view the $12 million Line of Credit as a viable source for future liquidity needs.

As of December 31, 2023 and 2022, the balance due to Driven Lifestyle under the $12 million Line of Credit was $0 and approximately $3.7 million, respectively, as well as unpaid accrued related party interest of $0 and $0.1 million, respectively. These amounts are presented as due to related parties in the consolidated balance sheets.
Backoffice Services Agreement
On March 23, 2023 (but effective as of January 1, 2023), the Company entered into a new Backoffice Services Agreement with Driven Lifestyle (the “Backoffice Services Agreement”) following the expiration of the Company’s prior services agreement with Driven Lifestyle. Pursuant to the Backoffice Services Agreement, Driven Lifestyle will provide accounting, payroll and benefits, human resources and other back-office services on a full-time basis to support the Company’s business functions. The term of the Backoffice Services Agreement is 12 months from the effective date. The term will automatically renew for successive 12-month terms unless either party provides written notice of nonrenewal at least 30 days prior to the end of the then current term. The Backoffice Services Agreement may be terminated by either party at any time with 60 days prior notice. Pursuant to the Backoffice Services Agreement, the Company is required to pay a monthly fee to Driven Lifestyle of $17,500. For the year ended December 31, 2023, the Company incurred $210,000 in fees in connection with the Backoffice Services Agreement, which is presented in general and administrative expenses within the consolidated statements of operations.
(F-24)​
Driven Lifestyle is an investment company focused on investing, developing and growing companies that sit at the cross-section of technology, media and the automotive industry.

First founded as Motorsport Network in 2015, the company has expanded increasingly in the luxury automotive sector and was rebranded Driven Lifestyle in 2023. Our portfolio companies and digital assets offer car enthusiasts, owners and motorsport fans around the world the best in content, e-commerce, entertainment and experiences. We add value to our platforms by making connections among the millions of passionate automotive and racing fans within our network of industry players and stakeholders. As Headquartered in Miami, our market leading portfolio companies are concentrated in three of the high-growth areas within the digital transformation of the automotive industry: duPont REGISTRY Group is a pioneer in luxury automotive e-commerce and connects affluent consumers to rare vehicles and driving experiences.

Our Media & E-Commerce division offers premium content to consumers and access to premium racing events and experiences.
Source: Driven Lifestyle (About section)​
from as near as I can tell, the market for a game like this seems to be enjoying it quite a bit.
which has been the first bit of good news for Motorsport games that they've had in a while.
After a rocky start, once the knee-jerk negative Steam reviews were offset by more measured takes (something I outlined here) the that could've been avoided had they not fired too many staff to be able to complete multiple licensed projects they'd already paid license holders for while paying a generous severance fee to its ex-CEO (blood boiling intensifies.gif).

However it is notable that despite peaking well above rFactor 2 it is the latter that is holding up with more users (Steam CCU at time of posting is 948 to 616 online users. A sign they will need to do more than patch LeMans Ultimate (Patch 2 Public Release Notes) with ongoing hot fixes as recently as yesterday to keep users engaged. Good news is the RaceControl sign ups are progressing well (no breakdown per titles) so its a case of whether or not Studio 397 can join the dots between rFactor 2 users & Le Mans Ultimate to encourage more to buy it.
"RaceControl, our online service providing multiplayer functionality to our rFactor 2 and now Le Mans Ultimate game, launched five months ago, and continues to play an important role in the ecosystem we are building around our products, and has now broken through more than 100,000 account registrations,” said Motorsport Games Chief Executive Officer, Stephen Hood during its Q4 and full-year 2023 earnings call, 1st April 2024.
They sold 55k units in the first 10 days, i.e. 20th February through 29th February. The game retails at $32.99 / €29,99 on Steam, so very rough napkin math would suggest close to $1m in revenue for the publisher (55x30 = $1.8m storefront revenue, but in reality it's a bit lower due to regional pricing). So I think there are no immediate liquidity problems.
Steam price history suggests most are in line with the US/UK but a few countries & regions are massively discounted so it all depends on how many/few sought to exploit this discrepancy.
Hmmnn, I don't think they walk away with that via the revenue if only because you always have to mark in the 30% cut that goes straight to Valve on every unit sold.
Maths is not my strong suit but @DarkDetective did account for that in their workings, even if the need to brush up on their napkin maths-fu, I mean we can go over it using the power of the calculator to work out very roughly what revenue MSG could've earned within those 10 days. First the overall amount, divide by 100, multiply by 70 to give us a rough bearded cut:
$29.99 x 55,000 = $1,649,450
/ 100 = $16,494.50
x 70 = $1,154,615
Bear in mind the Q1 FY24 will cover January 1 - March 31, 2024 (before the cut off point on the $1.3 million cash in hand as of April 1, 2024) so there should be additional sales beyond February 29, 2024 plus revenue from rFactor 2 & NASCAR to include whenever the Q1 FY24 report is published. As for any sales outside of Steam, the CD Keys listing was cheaper but is sold out (for me at least) while its not on Fanatical or Humble Bundle unlike previous titles published by Motorsport Games. Ok the SEC Filings, quick grab bag cause I'm tired & you're bored:
Marketing, Sales, and Distribution
Due to our modified product release schedule, we recognized minimal revenue from sales of physical gaming products for the year ended December 31, 2023. For the year ended December 31, 2022, we sold substantially all of our physical gaming products for the retail channel through a single distribution partner, which represented approximately 9% of our total revenue for 2022.
(page 12)​
Customer Concentration
For the years ended December 31, 2023 and 2022, three customers accounted for approximately 83% and 61% of our consolidated revenues, respectively. No other customer accounted for 10% or more of our revenues in those periods. For the year ended December 31, 2023, three customers accounted for approximately 89% of our accounts receivable and for the year ended December 31, 2022, four customers accounted for approximately 90% of our accounts receivable. No other customer accounted for 10% or more of our accounts receivable in those periods. A reduction in sales from or loss of these customers would have a material adverse effect on the Company’s results of operations and financial condition.
(page 12)​
Strategic Licenses and Partnerships
24 Hours of Le Mans
On March 15, 2019, we formed Le Mans Esports Series Limited as a joint venture between Motorsport Games and ACO with the primary purpose of carrying on the promotion of and running of an esports event business replicating races of the WEC and the 24 Hours of Le Mans race on an electronic gaming platform. Through our ownership interest in this joint venture, which was increased to 51% from 45% in January 2021, we secured the rights to be the exclusive video game developer and publisher for the 24 Hours of Le Mans race and the WEC through a separate license agreement. This license expires 10 years beginning from the date of our first release of a WEC or Le Mans race video gaming product with the term automatically renewing for an additional ten-year term unless ACO provides written notice of its intent not to renew. In exchange for such license, we agreed to fund up to €8,000,000 (approximately $8,830,000 as of December 31, 2023) as needed for development of the video game products, to be contributed on an as-needed basis during the term of the license. Additionally, we are obligated to pay ACO an annual payment beginning from the time of the launch of the first video game product and continuing on each anniversary thereof for the term of the license. In addition, through this joint venture, we have the right to create and organize esports leagues and events for the 24 Hours of Le Mans race, the WEC and the 24 Hours of Le Mans Virtual event through certain additional license agreements. These additional license agreements, which were granted on a royalty-free basis, each expire January 25, 2031 with the term automatically renewing for an additional ten-year term unless ACO provides written notice of its intent not to renew. This joint venture shall continue until the earlier of the date on which the parties cease to be beneficially entitled in the aggregate to 25% or more of the equity share capital of the joint venture, the parties otherwise cease to control the affairs of the joint venture or the date of the commencement of the winding-up of the joint venture. If certain events of defaults occur, the non-defaulting party has a call option pursuant to which it can force the defaulting party to sell all (but not part) of its ownership in the joint venture in accordance with the joint venture agreement.
NASCAR
As discussed above, concurrently with the sale of our NASCAR License, we entered into an agreement with NTP pursuant to which we have a limited non-exclusive right and license to, among other things, sell our NASCAR games and DLCs that are currently in our product portfolio through December 31, 2024.
Epic Games
On August 11, 2020, through our wholly owned subsidiary, MS Gaming Development LLC, we entered into a licensing agreement with Epic Games International (“Epic”) for worldwide licensing rights to Epic’s proprietary computer program known as the Unreal Engine 4. This Agreement was assigned from MS Gaming Development LLC to Motorsport Games Inc. on September 3, 2021.

Pursuant to the agreement, we were granted a nonexclusive, non-transferable and terminable license to develop, market and sublicense (under limited circumstances and subject to conditions of the agreement) certain products using the Unreal Engine 4 for our next generation of games. In exchange for the license, the agreement requires us to pay Epic an initial license fee, royalties, support fees and supplemental license fees for additional platforms. During a two-year support period, Epic will use commercially reasonable efforts to provide us with updates to the Unreal Engine 4 and technical support via a licensee forum. After the expiration of the support period, Epic has no further obligation to provide or to offer to provide any support services. The agreement is effective until terminated under the provisions of the agreement; however, pursuant to the terms of the agreement, we can only actively develop new or existing authorized products during a five-year active development period, which terminates on August 11, 2025.
(page 13)​
Epic Lease Agreement
On August 11, 2020, the Company entered into a licensing agreement with Epic Games International (“Epic”) for worldwide licensing rights to Epic’s proprietary computer program known as the Unreal Engine 4. Pursuant to the agreement, upon payment of the initial license fee described below, the Company was granted a nonexclusive, non-transferable and terminable license to develop, market and sublicense (under limited circumstances and subject to conditions of the agreement) certain products using the Unreal Engine 4 for its next generation of games.

The Company will pay Epic a license fee royalty payment equal to 5% of product revenue, as defined in the licensing agreement. During the years ended December 31, 2023 and 2022, Epic earned royalties of approximately $95,000 and $163,000 under the agreement. Pursuant to the terms of the agreement, the Company has the right to actively develop new or existing authorized products during a 5-year period ending on August 11, 2025.
(F-30)​
Risks Related to Our Business and Industry
If we do not consistently deliver popular products or if consumers prefer competing products, our business may be negatively impacted.
In order to remain competitive, we must continuously develop new products or enhancements to our existing products. Consumer preferences for games are usually cyclical and difficult to predict, and even the most successful content remains popular for only a limited period of time unless refreshed or otherwise enhanced. These products or enhancements may not be well-received by consumers, even if well-reviewed and of high quality. Further, competitors may develop content that imitates or competes with our best-selling games, potentially taking sales away from us or reducing our ability to charge the same prices we have historically charged for our products. These competing products may take a larger share of consumer spending than anticipated, which could cause product sales to fall below expectations. If we do not continue to develop consistently high-quality and well-received games, if our marketing fails to resonate with our consumers, if consumers lose interest in a genre of games we produce, if the use of cross-promotion within our mobile games to retain consumers becomes less effective, or if our competitors develop more successful products or offer competitive products at lower prices, our revenues and profit margins could decline. For example, our NASCAR 21: Ignition game released in October 2021 was generally not well-received and, as a result, our revenues for the years ended December 31, 2023 and 2022 were adversely affected due to lower game sales. Further, a failure by us to develop a high-quality product, or our development of a product that is otherwise not well-received, could potentially result in additional expenditures to respond to consumer demands, harm our reputation, and increase the likelihood that our future products will not be well- received. The increased importance of downloadable content to our business amplifies these risks, as downloadable content for poorly-received games typically generates lower-than-expected sales. In addition, our own best-selling products could compete with our other games, reducing sales for those other games.
(page 19)​

We depend on a relatively small number of franchises for a significant portion of our revenues and profits.
We follow a franchise model and a significant portion of our revenues has historically been derived from products based on a relatively small number of popular franchises, including our NASCAR products, which have historically accounted for the majority of our revenue. For the years ended December 31, 2023 and 2022, revenues associated with our NASCAR franchise accounted for approximately 72% and 63% of our total revenue, respectively.
(page 21)​
Risks Related to Ownership of Our Class A Common Stock
Our Class A common stock may be delisted from NASDAQ, which could affect the market price and liquidity of our Class A common stock.
We are required to continually meet NASDAQ’s listing requirements, including, among other things, a minimum stockholders’ equity requirement of at least $2,500,000 for continued inclusion on The Nasdaq Capital Market pursuant to Nasdaq Listing Rule 5550(b)(1) (the “Stockholders’ Equity Requirement”). As described in a Current Report on Form 8-K filed with the SEC on November 22, 2023, we received a deficiency letter from NASDAQ’s Listing Qualifications Department (the “NASDAQ Staff”) on November 17, 2023 notifying us that we were not in compliance with the Stockholders’ Equity Requirement. In our Quarterly Report on Form 10-Q for the quarter ended September 30, 2023, we reported stockholders’ equity of $498,897, which was below the Stockholders’ Equity Requirement. Additionally, we did not meet either of the alternative Nasdaq continued listing standards under the Nasdaq Listing Rules, which include (i) a market value of listed securities of at least $35 million or (ii) net income of $500,000 from continuing operations in the most recently completed fiscal year or in two of the three most recently completed fiscal years. As of December 31, 2023, our stockholders’ equity was $2,089,704.

In accordance with NASDAQ rules, we had until January 2, 2024 to submit a plan to the NASDAQ Staff to regain compliance with the Stockholders’ Equity Requirement, which we submitted by such date. On February 5, 2024, Nasdaq notified us that, based on its review of the Company and the materials submitted by us to NASDAQ, NASDAQ Staff determined to grant us an extension to regain compliance with the Stockholders’ Equity Requirement until May 15, 2024, subject to the Company regaining and evidencing compliance with the Stockholders’ Equity Requirement by such date.

To regain compliance with the Stockholders’ Equity Requirement, we plan to negotiate and implement equity financing transactions and negotiate reductions of our licensing liabilities; provided that there can be no assurances that such financing transactions and reductions of our licensing liabilities will be consummated or that they will achieve their intended effects. If we do not regain compliance with the Stockholders’ Equity Requirement by May 15, 2024, NASDAQ will provide written notice that our Class A common stock is subject to delisting. At such time, we would be entitled to appeal the delisting determination to a NASDAQ Hearing Panel.
(page 42)
I don't to pretend to understand (anything) except that May 15, 2024 is a day to mark in our calenders
Our Business
As of December 31, 2023, we have a total headcount of 71 people, made up of 50 full-time employees, including 52 dedicated to game development, to continue developing our product offerings. Our headcount numbers as of December 31, 2023 reflect that we have closed our Australian development studio effective November 2023, which resulted in a reduction of our workforce by approximately 40 employees, the majority of whom were based in Australia and the United Kingdom.
(page 50)​
Hardware Platforms
We derive most of our revenue from the sale of products made for PCs and video game consoles manufactured by third parties, such as Sony Interactive Entertainment Inc.’s (“Sony”) PlayStation and Microsoft Corporation’s (“Microsoft”) Xbox consoles, which comprised approximately 72% and 40% of our total revenue for the years ended December 31, 2023 and 2022, respectively. For the years ended December 31, 2023 and 2022, the sale of products for Microsoft Windows via Steam comprised approximately 23% and 21% of our total revenue, respectively, and the sale of products for mobile platforms comprised approximately 4% and 5% for the years ended December 31, 2023 and 2022.
Concentration of Sales
Our NASCAR products have historically accounted for the majority of our revenue. However, we have worked to diversify our product offerings and revenue from other sources by introducing titles such as KartKraft, rFactor 2 and the 24 Hours of Le Mans Virtual esports event to our portfolio of product offerings and thereby reducing our dependency on the NASCAR franchise as our substantially sole source of revenue. For example, revenues associated with our NASCAR franchise accounted for approximately 72% and 63% of our total revenue for the years ended December 31, 2023 and 2022, respectively. Following the sale of our NASCAR License and the execution of the NASCAR New Limited License, which allows us to sell our NASCAR games and DLCs that are currently in our product portfolio through December 31, 2024, we anticipate the amount of revenue to be generated by our existing NASCAR products to decline over time.
Digital Business
Players increasingly purchase our games as digital downloads, as opposed to purchasing physical discs. All of our titles that are available through retailers as packaged goods products are also available through direct digital download. For the years ended December 31, 2023 and 2022, approximately 88% and 68%, respectively, of our revenue from sales of video games for game consoles and PCs was through digital channels. We believe this trend of increasing direct digital downloads is primarily due to benefits relating to convenience and accessibility that digital downloads provide. In addition, as part of our digital business strategy, we aim to drive ongoing engagement and incremental revenue from recurrent consumer spending on our titles through in-game purchases and extra content.
(page 52)​
For the Year Ended December 31.
2023​
2022​
Change
Revenues:
Gaming$6,619,502$9,144,639($2,525,137)(27.6)%
Esports$290,172$1,179,920($889,748(75.4)%
Total Segment and Consolidated Revenues$6,909,674$10,324,559($3,414,885)(33.1)%
Consolidated revenues were $6.9 million and $10.3 million for 2023 and 2022, respectively, a decrease of $3.4 million, or 33.1%, when compared to the prior year.
(page 54)​
Gaming segment revenues represented 95.8% and 88.6% of our total 2023 and 2022 revenues, respectively, decreasing by $2.5 million, or 27.6%, when compared to the prior year. The decrease in Gaming segment revenues was primarily due to $1.1 million in lower digital and mobile game sales, $0.9 million in lower retail game sales and $0.5 million in lower development revenue. This decrease in Gaming segment revenues reflects no NASCAR game titles being released in 2023, compared to one in 2022, resulting in lower volumes of game sales, as well as less favorable pricing and higher than expected retail pricing concessions on existing games in our product portfolio. Specifically, the change in digital and mobile game sales was driven by a $1.9 million reduction in NASCAR title sales, as well as decreases of $0.6 million and $0.2 million in rFactor 2 and KartKraft title sales, respectively.

Esports segment revenues represented 4.2% and 11.4% of our total 2023 and 2022 revenues, respectively, decreasing by $0.9 million, or 75.4%, when compared to the prior year. The decrease in esports segment revenue was primarily due to lower sponsorship revenue of $0.8 million and a $0.1 million decrease in event entry fees, resulting from the Le Mans Virtual Series not being launched for the 2023/24 season in 2023 compared to the 2022/23 season having launched in 2022.
(page 55)​
Development
Development expenses were $7.2 million and $10.4 million for 2023 and 2022, respectively, representing a decrease of $3.2 million, or 30.5%, when compared to the prior year. The reduction in development expense was primarily driven by a $2.1 million reduction in payroll and employee related expense as a result of lower headcount when compared to the prior period and a $1.4 million decrease in development consulting expenses, partially offset by a $0.3 million increase in hosting fees incurred to support our ongoing development efforts.
(page 56)​
Interest Expense
Interest expense was $0.8 million and $1.1 million for 2023 and 2022, respectively, primarily from non-cash interest accretion of our INDYCAR and BTCC license liabilities, as well as interest expense relating to deferred purchase consideration in respect of our acquisition of Studio397 see page 63. As discussed above, our BTCC License and INDYCAR License were terminated, effective November 2023.
Other Income (Expense), net
Other income, net for 2023 was $5.9 million, compared to other expense, net of $(0.7) million for 2022, an improvement of $6.6 million compared to the prior period. The improvement in other income (expense), net was primarily driven by a $3.0 million gain related to the sale of the Company’s NASCAR License in October 2023, a $1.4 million gain related to reduction in liabilities for litigation settlement and the termination of the Company’s INDYCAR License in November 2023, $0.8 million in foreign currency gains arising from remeasuring transactions denominated in a currency other than U.S. dollars, a $0.5 million gain in the fair value of the liability settled stock warrants and a $0.3 million increase in other income.
(page 57)​
Other Financing Activity
On December 9, 2022, the Company entered into a stock purchase commitment agreement (the “Alumni Purchase Agreement”) with Alumni Capital LP (“Alumni Capital”), which provided that the Company could sell to Alumni Capital up to $2,000,000 of shares (the “commitment amount”) of the Company’s Class A common stock, through the commitment period expiring on December 31, 2023, or earlier if the commitment amount is reached. During the year ended December 31, 2023, the Company issued an aggregate of 175,167 shares of the Company’s Class A common stock to Alumni Capital under the Alumni Purchase Agreement with an aggregate fair market value of approximately $0.65 million. The Alumni Purchase Agreement expired on December 31, 2023 and has not been renewed as of the date of this Report.
(page 61)​
Minimum License Commitments
As of December 31, 2023, the Company had a total remaining liability in connection with the BTCC License, inclusive of the unpaid installments, of $0.9 million, which is included in purchase commitments liabilities on the consolidated balance sheets.
(F-30)
As of December 31, 2022, the Company had a total remaining liability in connection with the INDYCAR Licenses of $3.2 million, which is included in other non-current liabilities on the consolidated balance sheets.
Purchase Commitment Liabilities
On April 20, 2021 the Company acquired 100% of the share capital of Studio 397 B.V. (“Studio397”) from Luminis International B.V. and Technology In Business B.V. (collectively, the “Sellers”). The purchase price originally consisted of (i) $12.8 million paid at closing and (ii) $3.2 million payable April 2022 on the first anniversary of closing, as deferred consideration (the “Deferred Payment”). On April 22, 2022 and July 21, 2022, the Company entered into certain letter agreements with the Sellers pursuant to which, among other things, the Deferred Payment installment amount due to be paid by the Company on the first anniversary of closing was reduced from $3.2 million to $1million with the remaining $2.2 million to be settled in installments of: $330,000 to be paid on July 31, 2022; for the period August 15, 2022, through December 15, 2022 monthly installments of $100,000; and for the period beginning on January 15, 2023, monthly installments of $150,000 until the remaining Deferred Payment amount is satisfied. The letter agreements also call for 15% interest on the Deferred Payment balance effective on July 19, 2022. The remaining balance of the Deferred Payment as of December 31, 2023 was $0.6 million with unpaid accrued interest of $0.3 million.
(F-31)​

 
good News Everyone!

2024 Le Mans Ultimate Experience Presented by Thrustmaster
6 Hours of Imola, Italy – 19-21 April

Total Energies 6 Hours of Spa-Francorchamps, Belgium – 9-11 May

24 Hours of Le Mans, France – 12-16 June​
DDYzhR.gif
El0V1P.gif

MIAMI, FL – April 17 2024 – Motorsport Games Inc. (NASDAQ: MSGM) (the “Company” or “Motorsport Games”), a leading racing game developer, publisher, and esports ecosystem provider of official motorsport racing series throughout the world, is pleased to announce the amicable resolution of its previous licensing dispute with the British Touring Car Championship (BTCC). Both parties have also signed a new non-exclusive license agreement, effective immediately, that reinstates BTCC content in the highly acclaimed rFactor 2 racing simulation until the end of 2026 – renewing the partnership and mutual commitment to deliver exceptional BTCC virtual racing experiences to fans worldwide.

Stephen Hood, CEO of Motorsport Games, expressed his enthusiasm regarding the recent agreement: “We are delighted to have reached an agreement with the British Touring Car Championship (BTCC), resolving our dispute while simultaneously establishing a new licensing agreement. This collaboration not only enables us to enhance our current offerings with BTCC content in rFactor 2 but also lays the foundations for an exciting future collaboration. I have long held the BTCC in high regard and introducing the first fully-fledged experience of this incredible racing series to sim racer’s homes through rFactor 2 was a standout moment. We anticipate a strong relationship with the BTCC in the years ahead.”

BTCC Chief Executive, Alan Gow, said: “The BTCC content within rFactor 2 was incredibly well received by our fans and the sim racing fraternity – so this new agreement provides for our BTCC content to continue to be updated and rolled out through to the end of 2026. I’ve no doubt this news will be very welcomed by sim racers everywhere.”

Current content included in rFactor 2 from the British Touring Car Championship comprises of eight cars, including fan favorites such as the BMW 330e M Sport and the Ford Focus as well as incredible British race tracks such as Brands Hatch, Donington Park and Thruxton.
I. On April 12, 2024, Motorsport Games Inc., a Delaware corporation (the “Company”), entered into a Settlement Agreement (the “Agreement”) with BARC (TOCA) LIMITED (“TOCA”). The Agreement resolved any and all disputes between the Company and TOCA with respect to the termination of the License agreement, dated May 29, 2020, between the Company and TOCA (the “Prior License Agreement”). As previously disclosed by the Company on its Current Report on Form 8-K filed on November 6, 2023, the Prior License Agreement was terminated effective as of November 3, 2023. Pursuant to the Agreement, the Company and TOCA, without admitting any liabilities, agreed that that the Prior License Agreement was terminated without any liabilities and that any and all royalties and/or any other sums whatsoever were forgiven by TOCA and discharged in their entirety in consideration of (i) the Company’s one-time payment of $225,000 to TOCA and (ii) the Company and TOCA entering, effective as of April 12, 2024, into a new License Agreement to use certain licensed intellectual property related to, themed as, or containing the British Touring Car Championship (the “New BTCC License Agreement).
SETTLEMENT AGREEMENT
This Settlement Agreement (this “Agreement”) is entered into and effective as of April 12, 2024 (the “Effective Date”) between:

(i) Motorsport Games Inc., a Delaware corporation whose registered office is at 5972 NE 4th Avenue, Miami, Florida 33137, U.S.A. (the “Company”), and

(ii) BARC (TOCA) LIMITED, a private limited company incorporated and registered in England and Wales with company number 05246427 whose registered office is at Thruxton Motor Racing Circuit, Thruxton, Andover, SP11 8PN (“TOCA”).

The Company and TOCA are sometimes collectively referred to herein as the “Parties” and individually as a “Party.”

RECITALS
A. The Company and TOCA entered into the license agreement, dated May 29, 2020 (the “Prior License Agreement”).

B. Pursuant to the Prior License Agreement, the Company was granted an exclusive license to use certain licensed intellectual property for motorsports and/or racing video gaming products related to, themed as, or containing the BTCC, on consoles and mobile applications, esports series and esports events.

C. On October 26, 2023, TOCA delivered notice to the Company terminating the Prior License Agreement effective as of November 3, 2023.

D. Following the termination of the Prior License Agreement, TOCA’s position has been that the outstanding royalties payable and other sums payable by the Company to TOCA are $850,000.

E. The Parties desire to reach a resolution of all issues between the Parties arising out of or in connection with the Prior License Agreement and any and all other matters on the terms and conditions set forth in this Agreement.

AGREEMENT
NOW, THEREFORE, in consideration of the foregoing Recitals and of the mutual agreements and covenants set forth in this Agreement, and for other good and valuable consideration, the sufficiency and adequacy of which is acknowledged, the Parties, without admitting any liabilities, hereby agree as follows:
1. Incorporation of Recitals. The above and foregoing recitals are incorporated herein and made a part of this Agreement. The Parties represent that the foregoing recitals are true and correct.

2. Settlement Terms. Subject to full execution of this Agreement by all Parties:
a.In consideration for the Settlement Payment (as defined below) and the Parties entering into the New License Agreement (as defined below), TOCA hereby agrees that the Prior License Agreement was terminated without any liabilities by the Company and that any and all royalties and/or any other sums whatsoever are hereby forgiven by TOCA and are deemed discharged in their entirety.
b.Settlement Payment. The Company shall pay $225,000 to TOCA on April 12, 2024.
c.New License Agreement. The Parties shall enter on and effective as of April 12, 2024 into a new license agreement to use certain licensed intellectual property related to, themed as, or containing the BTCC in the form attached hereto as Exhibit A.
II. On April 12, 2024, the Company and TOCA entered into the New BTCC License Agreement. Pursuant to the New BTCC License Agreement, TOCA granted the Company a non-exclusive license to use the “British Touring Car Championship,” “BTCC” and (insofar only as this is included in the title of the British Touring Car Championship) certain title sponsor logos, the title “British Touring Car Championship,” “BTCC” and other related intellectual property rights described in the New BTCC License Agreement (collectively, the Licensed IP”) for the official Licensed IP downloadable content purchased for the rFactor 2 video game digitally sold and distributed through the Steam store (including, but not limited to purchases through Licensee’s RaceControl storefront) (the “Products”), including the Products’ development, manufacturing, marketing, publicity, advertisement, promotion, distribution, publicizing, broadcasting, streaming, making available and/or selling worldwide, continued commercial exploitation of the Products, including the right to use, modify and improve the Products developed using the Licensed IP. As consideration for the license under the New BTCC License Agreement, the Company will be obligated to pay TOCA an annual royalty in the amount of 50% of Adjusted Gross Annual Sales (as defined in the New BTCC License Agreement) of official Company’s downloadable Products purchased for the rFactor 2 video game digitally sold and distributed through the Steam store during the term of the New BTCC License Agreement. The term of the New BTCC License Agreement expires on December 31, 2026. The New BTCC License Agreement further provides that, during the term of New BTCC License Agreement, the Company and TOCA agree to negotiate in good faith the options for the Company to develop an official British Touring Car Championship video game and one or more esports competitions based upon the British Touring Car Championship.
LICENSE AGREEMENT

1.7 As consideration for the license set forth in this Agreement, Licensee shall pay Licensor an annual (for each 12-month period of the Term) royalty (the “Royalty”) in the amount of:

(a)Fifty percent (50%) of Adjusted Gross Annual Sales (as defined below) of official Licensor downloadable Products purchased for the rFactor 2 video game digitally sold and distributed through the Steam store during the Term;
Adjusted Gross Annual Sales” means, with respect to a Product, the dollar amount of gross sales of such Product during an applicable 12-month period less the aggregate dollar amount of all reasonable Distribution Fees properly and necessarily incurred in and directly attributable to such sales of the Products, all provisions and discounts reasonably granted for the Products provided these are granted on an arms-length basis. Where the Licensee has granted any sub licence pursuant to Section 1.6 the Licensee shall include in its royalty payments, payments in respect of all sales of the Products carried out by or on behalf of the sub licensee and shall include records of such activities in the records it keeps and the statements it submits to the Licensor in accordance with this Agreement.
Distribution Fees” means platform holder fees and boxed fees but shall not include expenses related to the general overhead expenses of the Licensee, or (unless expressly agreed in writing by the Licensor) any charges or fees payable to any associated or connected company or company within the same group as the Licensee. Any increase to Distribution Fees above a cap of 30% of the wholesale price of the Products shall be subject to the prior agreement of the Licensor PROVIDED that no consent shall be necessary in relation to an increase in third party platform fees that is imposed on an arm’s length basis and is necessarily incurred for the Products, subject to the Licensor promptly receiving prior notification and full details of any such increase.
1.8 The Licensee shall not distribute the Products other than by way of arms-length sales. Any promotional give away of Products or discounted sales and bundling shall be limited to an amount agreed in writing by the Licensor (such agreement not to be unreasonably withheld or delayed).

1.9 All payments made by the Licensee under this Agreement are exclusive of VAT or other sales tax, which if payable shall be payable to the Licensor in addition. All royalties shall be paid free and clear of all deductions and withholdings unless such deduction or withholding is required by law. If any deduction or withholding is required by law the Licensee shall pay to the Licensor such sum as will, after the deduction or withholding has been made, leave the Licensor with the same amount as it would have been entitled to receive in the absence of any requirement to make a deduction or withholding.

1.10 Within ninety (90) days after the end of each 12-month period of the Term, Licensee shall calculate the exact amount of the Royalty for such period based on the actual amount of Adjusted Gross Annual Sales during such period of Products branded with the Licensed IP and using the Licensed IP content (the “Final Annual Royalty Amount”). To the extent the amount Licensee previously paid for such period Royalty payments are less (“Shortfall”) or more (“Excess”) than the Final Annual Royalty Amount, Licensee shall so notify Licensor of such Shortfall or Excess (as the case may be). Within thirty (30) days after such notification, Licensee shall pay Licensor such Shortfall or Licensor shall pay Licensee such Excess, as applicable.
Now if only you hadn't fired the staff you could've published a new game. But its not too late to make amends MSG - hire 'em back, finish the job. My BTCC boyhood dream ain't (quite) dead yet!
de550860-3494-40eb-b8e5-d11aa08b0bd3_text.gif
f6208e05-b086-4d1f-a040-43a20da5f2fa_text.gif
9c670014-30b6-4374-904e-580a3809d8fe_text.gif
As for how to pay for it, aside from the privately owned parent company ponying up the cash? Get some of the money back from Dmitry Kozko as you can see from page 12 by his obscenely high salary compared to other executives, which he in no way earned. That's before getting into his severance pay upon their 'mutual' parting. Investors, be sure to vote for this! doit,doit.gif
To Our Stockholders:

The 2024 annual meeting of stockholders of Motorsport Games Inc. (the “Company”) will be held on June 11, 2024, 11:00 am, local time, at the Company’s offices located at 5972 NE 4th Avenue, Miami, Florida 33137, for the following purposes:

1.To elect one Class II director of the Company, who shall be an independent director as defined by applicable rules, to serve for a two-year term expiring in 2026.
2.To ratify the selection of Grant Thornton LLP as the Company’s independent registered public accounting firm for the year ending December 31, 2024.
3.To transact such other business as may properly come before the annual meeting or any postponement or adjournment thereof.

The board of directors of the Company has fixed April 19, 2024 as the record date for the determination of stockholders entitled to vote at the annual meeting. Only stockholders of record at the close of business on that date will be entitled to notice of, and to vote at, the annual meeting or any postponement or adjournment thereof.

If you elected to receive our annual report and proxy statement electronically over the Internet you will not receive a paper proxy card. The annual report and proxy statement are available at www.proxyvote.com.

You are cordially invited to attend the meeting in person. Whether or not you expect to attend the meeting in person, you are urged to vote by electronic access, phone or mail.


By Order of the Board of Directors.

Stephen Hood,
Chief Executive Office and President.​
 
Last edited:
Item 1.01 Entry Into a Material Definitive Agreement
(i) the Company’s one-time payment of $225,000 to TOCA and (ii) the Company and TOCA entering, effective as of April 12, 2024, into a new License Agreement to use certain licensed intellectual property related to, themed as, or containing the British Touring Car Championship (the “New BTCC License Agreement).
Cool but how you gonna pay for that without the cheque bounce. If only Motorsport Games had a defunct media outlet you closed down but left the website up for some reason to sell...
16_9_traxion.jpg

MIAMI, FL – April 30, 2024 – Motorsport Games Inc. (NASDAQ: MSGM) (the “Company” or “Motorsport Games”), a racing game developer, publisher, and esports ecosystem provider of official motorsport racing series throughout the world, is today announcing the sale of its gaming media outlet Traxion to Traxion.GG Ltd, a UK subsidiary of Grid Finder Ltd for $250,000. This strategic decision continues Motorsport Games’ ongoing efforts to streamline operations, reduce operational costs and sell off components not considered core to the future of the business.

The sale is expected to allow Motorsport Games to focus more intensely on development of high-quality racing games with $200,000 of the deal in cash and $50,000 in future marketing efforts through the outlet. Motorsport Games retains the option to access the video platforms for future broadcasts of the Le Mans Virtual Series and 24 Hours of Le Mans Virtual.

“This transaction is another component piece in our strategy to leverage elements of market value, bringing cash into the business whilst doubling-down on our primary focus – high-quality gaming products” commented Stephen Hood, CEO and President of Motorsport Games. “Traxion stood for quality racing game journalism, helped grow the racing video games and simulation market – and we are excited to see the brand revived under new ownership.”

Thomas Stapley-Bunton, CEO and Founder of Grid Finder said “Traxion.GG has always been considered to be the pinnacle of journalism and content by the wider online racing and sim racing community. Reviving the brand with the original team is a huge win for the online racing community and brings with it exciting opportunities to combine the power of Grid Finder’s new community management tools and marketplaces with the best online racing content site in the world.”
Good. Save for the eSports cross-promo bit as I've always held the view media outlets should be entirely independent of video-game companies. However we do get the cost breakdowns in Exhibit C from the SEC Filing below for those curious. Would like the same to happen to Automaton Media (Playism) GameBiz (BushiRoad) & Game Informer (GameStop) to name an ignoble few. But I digress, while this is not quite a one for one as we're $25,000 short of the BTCC settlement, it will cover most of the cost for Q2 (April - June, 2024) so every little helps.

ARTICLE 2. CONSIDERATION
2.1 Consideration. Subject to the terms and conditions of this Agreement and subject to the Closing having occurred, the full and complete consideration for the Seller’s full and complete sale, transfer, conveyance, assignment and delivery of all the Purchased Assets to the Buyer, shall be (i) U.S. $200,000 (the “Cash Purchase Price”), payable by the Buyer to the Seller at the Closing by wire transfer to a bank account in the United States designated in writing by Seller to Buyer and (ii) U.S. $50,000 in value, based on:

(a) the prices attached hereto as Exhibit C, in marketing services to be provided by Buyer to Seller during the period from the Closing Date through December 31, 2026 on the following platforms: YouTube, Twitch, Instagram, X (formerly known as Twitter) and Facebook; and

(b) access to the Traxion YouTube and Twitch channels for
(i) Les Mans Virtual and​
(ii) key esports and gaming events as agreed between Seller and Buyer​

for which items b(i) and b(ii) Buyer shall provide all backend viewership data within three (3) days of Seller’s request.
EXHIBIT NFT B
PURCHASED ASSETS1
Wordpress logins to Traxion.gg website
All historic content, written & video created under the Traxion brand
Traxion.gg email accounts in use on the Closing Date
Domain hosting account (Domain name to be transferred to buyers account)
Email list/CSV export
Discord server account login details
Geni.US Account
Spotify for Podcasters account
Buzzsprout Account
XBOX Live Account [TraxionGG]
PlayStation Network Account [TraxionGG]
Steam Account [TraxionGG1]
Nintendo Account [TraxionGG]
uPlay Account [TraxionGG]
Meta/Oculus Account [TraxionGG]
Epic Games Account [TraxionGG]
Traxion Social Media Logins and associated accounts relating to the Traxion brand including:

X (Twitter)
Facebook
Instagram
TikTok
LinkedIn

YouTube Traxion.GG Main Channel
YouTube More Traxion Channel
Traxion.GG Twitch
B Roll Catalogue
Historic Raw Footage
Unregistered trade marks relating to the Traxion brand including without limitation:

61adb626b015ccdf69ef55aa1321e81e-ex10-1_002.jpg
61adb626b015ccdf69ef55aa1321e81e-ex10-1_001.jpg

Assets and Brand Guidelines
Asetek Pagani Pedals
Grid Engineering DDUs/Dashboard
Cammus C5
Simplextiy Rig
400 sets of Traxion Gloves in a variety of sizes

1 All the assets below relate solely to the Traxion account.
EXHIBIT C
PRICE LIST FOR MARKETING SERVICES
Item Rate Description
Video Sponsorship $350.00 60 second advert spot in YouTube Video
Bespoke Video $3,500.00 Bespoke Video
1 Week MPU Advert Placement (all categories) $2,000.00 Advert on Website
1 Month MPU Advert Placement (all categories) $5,000.00 Advert on Website
3 Month MPU Placement (all categories) $10,000.00 Advert on Website
Sponsored Post (all platforms) $1,000.00 Sponsored post on all social media platforms.
Sponsored Article/Advertorial $2,000.00 Website Article written on specific topic. Client can request revisions.
Motorsport Games (MSG ) has a trio of open positions too, a couple online backend roles for the Race Control & one for a community manager!? Hey now, I've been doing that job all this TOCA Time for nothing? Pay me MSG! As for Q1 FY24, the company announced that it'll be published May 7, 2024. It'll cover the Early Access launch of Le Mans Ultimate so it'll be worth checking to see if it helps push the company into profit & how the revenue generated so far compares with the overall development costs for the game (so far)...GET FISCALLY HYPED!!!!!
 
Back
Top Bottom