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Streaks Gaming PLC announced its audited results for the 12 months ended 28 February 2023 on 30 June 2023. The Company commenced trading on the Standard Segment of the London Stock Exchange on 5 January 2023, following an IPO that placed 100m shares at 3p each. For the year ended 28 February 2023, Streaks Gaming PLC reported a total comprehensive loss attributable to shareholders from continuing operations of £3,351k, total assets of £2,329k, and total equity of £2,011k.
| Date | 30 Jun 2023 |
| Time | 07:03:01 |
| Category | Results |
| ID | 4724E |
Press Release
30 June 2023
Streaks Gaming PLC
('Streaks'" or 'The Company')
Annual results
Streaks Gaming PLC (LSE: STK), a UK-based provider of AI focused conversational gaming "Streaks Gaming", announces its audited results for the 12 months ended 28 February 2023.
Comments from Michael Edwards, Non-Executive Chairman of Streaks:
The Company had a successful IPO and commenced trading on the Standard Segment of the London Stock Exchange on 5 January 2023 with a placing of 100m shares at a price of 3p.
The Company has built and launched a global conversational gaming platform, called Streaks Gaming using powerful Natural Language Processing (NLP) text generators like GPT-4. This core platform has been successfully deployed in the conversational gaming space for sports like the NFL and the NBA. The platform has already attracted advertising partners like Fan Duel, BetMGM, DraftKings and PointsBet.
The Company is excited to announce that it has leveraged its considerable technical know-how in the AI space and is launching a Social AI platform for influencers in Q3 called Streaks Social. The Streaks Social AI Platform will allow influencers to better connect and monetise their existing fans through the automatic creation of an AI Avatar. This AI Avatar is fully customizable and uses both voice and text driven prompts with video prompts coming in the near-term development pipeline. [The interactions between the AI Avatar and the fans will be personalised via NLP, providing each fan with a unique experience. Over time, this personalisation will deepen.
Influencers will be able to monetise their fans through Streaks credits and fans will be able to take advantage of loyalty points and "Streaks" by using the core AI Conversational platform.
Through its extensive engagement with fans on the existing AI driven gaming platform, the Streaks team has recognized the potential and power of conversational AI. and how powerful it is to provide an AI that genuinely embodies a unique persona. Streaks is a full-stack AI company, involved in every aspect from training the language models to constructing the user interface. This empowers Streaks to create personalized experiences that have allowed for the development of the Streaks Social Platform.
About Streaks:
Streaks Gaming PLC is a provider of AI based conversational technologies. The Company offers two core products in the gaming and conversational AI space.
For more information on the Conversational Gaming AI product, please visit www. playstreaks.com.
For more information on the Conversational AI product, please visit www.streaks.ai.
The Directors of Streaks accept responsibility for this announcement.
This announcement may contain "forward-looking" statements and information relating to the Company. These statements are based on the beliefs of Company management, as well as assumptions made by and information currently available to Company management. The Company does not undertake to update forward‐looking statements or forward‐looking information, except as required by law.
The information contained within this announcement is deemed by the Company to constitute inside information stipulated under the Market Abuse Regulation (EU) No. 596/2014, as retained as part of the law of England and Wales. Upon the publication of this announcement via the Regulatory Information Service, this inside information is now considered to be in the public domain.
For further information please contact:
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Streaks Gaming PLC |
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Mike Edwards Executive Chairman
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via First Sentinel (Corporate Advisor) +44 203 989 2222
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Corporate Brokers |
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Peter Krens (Tennyson Securities) Brian Stockbridge (First Sentinel)
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+44 207 186 9030 +44 203 989 2200 |
Statement of Profit or Loss and Other Comprehensive Income
For the year ended 28 February 2023
|
Year ended 28 February |
Year ended 28 February |
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|
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2023 £'000 |
2022 £'000 |
|
Continuing Operations |
|
|
|
|
Revenue |
|
- |
- |
|
Cost of sales |
|
- |
- |
|
Gross profit |
|
- |
- |
|
Administrative expenses |
|
(3,351) |
(600) |
|
Depreciation & amortization |
|
- |
- |
|
Operating loss |
|
(3,351) |
(600) |
|
Finance income |
|
- |
- |
|
Finance costs |
|
- |
- |
|
Loss before taxation |
|
(3,351) |
(600) |
|
Taxation |
|
- |
- |
|
Loss after taxation |
|
(3,351) |
(600) |
|
Other comprehensive income |
|
- |
- |
|
Total comprehensive loss for the year attributable to shareholders from continuing |
|
(3,351) |
(600) |
|
operations |
|
|
|
|
Basic and diluted earnings per share - pence |
|
(1.24) |
(1.21) |
The notes contained in the Company's Annual Report form part of these financial statements.
Statement of Financial Position
For the year ended 28 February 2023
|
|
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As at 28 F e b r u a r y 2023 £'000 |
As at 28 F e b r u a r y 2022 £'000 |
|
NON-CURRENT ASSETS |
|
|
|
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Property, plant and equipment |
|
- |
- |
|
Intangible assets |
|
63 |
63 |
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Other receivables |
|
- |
- |
|
TOTAL NON-CURRENT ASSETS |
|
63 |
63 |
|
|
|
|
|
|
CURRENT ASSETS |
|
|
|
|
Trade and other receivables |
|
196 |
52 |
|
Cash and cash equivalents |
|
2,070 |
45 |
|
TOTAL CURRENT ASSETS |
|
2,267 |
97 |
|
TOTAL ASSETS |
|
2,329 |
160 |
|
EQUITY |
|
|
|
|
Share capital |
|
378 |
154 |
|
Share premium |
|
4,880 |
449 |
|
Share based payment reserve |
|
704 |
25 |
|
Retained earnings |
|
(3,951) |
(600) |
|
TOTAL EQUITY |
|
2,011 |
28 |
|
|
|
|
|
|
NON-CURRENT LIABILITIES |
|
|
|
|
Provisions |
|
- |
- |
|
Lease liability |
|
- |
- |
|
TOTAL NON-CURRENT LIABILITIES |
|
- |
- |
|
|
|
|
|
|
CURRENT LIABILITIES |
|
|
|
|
Trade and other payables |
|
318 |
132 |
|
Deferred revenue |
|
- |
- |
|
Lease liability |
|
- |
- |
|
TOTAL CURRENT LIABILITIES |
|
318 |
132 |
|
TOTAL LIABILITIES |
|
318 |
132 |
|
TOTAL EQUITY AND LIABILITIES |
|
2,329 |
160 |
The notes contained in the Company's Annual Report form part of these financial statements.
The financial statements were approved by the Board of Directors on 29 June 2023 and were signed on its behalf by:
Nicholas Lyth
Director
The financial information set out in this announcement does not constitute statutory accounts. This financial information has been extracted from the audited full accounts of the Company for the year ended 28 February 2023. The Company does not declare a dividend for the period.
The full Annual Report of the Company will be available on the Company's website: playstreaks.com.