Playgon Games to Settle Debt with Share Issuance

Playgon Games ( (TSE:DEAL) ) has provided an update.

Playgon Games Inc. has announced its intention to settle $124,275 of debt through the issuance of 12,427,500 common shares at a price of $0.01 per share. This transaction involves converting interest payments owed on previously issued convertible unsecured debentures into common shares, with 95% of these shares being issued to insiders of the company. The proposed transaction is subject to the approval of the TSX Venture Exchange and is classified as a ‘related party transaction’ under regulatory policies. Playgon intends to use an exemption from certain shareholder approval requirements due to the transaction’s limited impact on market capitalization.

Spark’s Take on TSE:DEAL Stock

According to Spark, TipRanks’ AI Analyst, TSE:DEAL is a Neutral.

Playgon Games is currently facing significant financial challenges, with declining revenues and negative profitability margins. The technical analysis shows some short-term momentum, but the negative beta and overbought indicators add uncertainty. The valuation is unattractive due to a negative P/E ratio and lack of dividends. Overall, the stock is rated low due to its financial instability and unattractive valuation.

To see Spark’s full report on TSE:DEAL stock, click here.

More about Playgon Games

Playgon Games Inc. is a SaaS technology company that develops and licenses digital content for the iGaming market. It provides a multi-tenant gateway for online operators to offer innovative iGaming software solutions, including Live Dealer Casino and E-Table games. The company’s products serve as turn-key solutions for online casinos, sportsbook operators, land-based operators, media groups, and large database companies.

Average Trading Volume: 61,323

Technical Sentiment Signal: Hold

Current Market Cap: C$7.08M

For an in-depth examination of DEAL stock, go to TipRanks’ Overview page.