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Motorsport Games Inc.
5/7/2024
you if one of the people in the group decides to subscribe so we're looking at the bigger resource and bigger pocket of a group rather than necessarily individuals so we're looking at very innovative ways of trying to make the subscription a must-have for people that really want to get more from this experience but we are not making it a requirement to participate and contribute online if that makes sense
Yep, absolutely, that's very helpful. And then one last question I had is in terms of the overall cost savings, Obviously, we saw a significant year-over-year improvement on the net EBITDA loss. I'm just curious sort of in terms of obviously the 2022 restructuring and then some of the moves you made in the second half of last year, just sort of in terms of the full impact of those savings relative to what we saw in Q1. Is there sort of more further improvement in terms of cost savings from here, or have we sort of reached a point where the moves that have already been made are now sort of fully reflected in the financial performance?
Yes, I think this is Stanley. So, you know, the 2022 restructuring program that you mentioned, I think by the end of 2023, we had fully realized the benefits of that. As we disclosed in our Form 10-K, we had restructurings that impacted Australian development studios and some UT employees as well in Q4 of 2023. I think at this point, you know, for Q1, we're down to a monthly operating cash burn of about $300,000. It's definitely lower than Q1 of last year. I think at this point, we've sort of fully realized the benefits of the restructuring program, but we still continue to to look at other ways where we can, you know, reduce our current expenses where it makes sense to do so and it's feasible without that having business.
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