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Mijem Newcomm Tech Inc. Files 2022 Audited Financial Statements and Provides Operational Update

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Toronto, Ontario–(Newsfile Corp. – November 28, 2022) – Mijem Newcomm Tech Inc. (CSE: MJEM) (“Mijem” or the “Company”), a social media and technology company, announces its financial results and management discussion and analysis for the fiscal year ended July 31, 2022 (“FY 2022”). These filings are available for review on the Company’s SEDAR profile at www.sedar.com and on the company’s investor website at www.investor.mijem.com. All financial information in this press release is reported in Canadian dollars unless otherwise indicated. This news release should be read in conjunction with Mijem’s audited financial statements and the accompanying notes, as at and for the year ended July 31, 2022, together with the related Management Discussion and Analysis.

“Mijem provides innovative solutions to create a vibrant social marketplace for Generation Z and thousands of university and college students across North America to connect and efficiently buy, sell and trade goods and services,” said Laurie Freudenberg, CEO of Mijem. “2022 was a challenging year as we were still facing the residual impacts of two years of restrictions and lockdowns as a result of the pandemic. However, with the full re-opening of universities and campuses largely complete, we are optimistic that we will experience renewed growth as we move to a post pandemic environment.”

FY 2022 FINANCIAL HIGHLIGHTS

  • Mijem remained pre-revenue through 2022.
  • The company completed a reverse take-over (RTO) on January 6th, 2022 and began trading as a public company on the Canadian Securities Exchange (CSE) on January 10th, 2022, under the trading symbol MJEM, which resulted in losses of ($783,042) being recorded as a listing expense.
  • Mijem total net loss for the year ended July 31, 2022, before taxes was ($2,776,155), compared to ($491,841) for the same period in 2021.
  • Cash Flow used in Operations for the year ended July 31, 2022, was ($1,941,257) compared to ($455,764) for the same period in 2021.
  • Working Capital for Mijem at the year ended July 31, 2022, was $473,690 compared to 103,475 at the year ended July 31, 2021.

About Mijem Newcomm Tech Inc.

Mijem is a Canadian-based social media and technology company that provides innovative solutions to create a vibrant social marketplace for Generation Z to connect and to efficiently buy, sell and trade goods and services. Mijem’s patent-pending flagship technology currently permits thousands of university and college students across the United States and Canada to both connect on-line and engage in consumer-to-consumer commerce.

For further information, please contact:

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Laurie Freudenberg
Chief Executive Officer
Mijem Newcomm Tech Inc.
[email protected]

Cautionary Note Regarding Forward-Looking Statements

This news release contains “forward-looking statements” within the meaning of applicable securities laws. All statements contained herein that are not clearly historical in nature may constitute forward-looking statements. Generally, such forward-looking information or forward-looking statements can be identified by the use of forward-looking terminology such as “plans”, “expects” or “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or may contain statements that certain actions, events or results “may”, “could”, “would”, “might” or “will be taken”, “will continue”, “will occur” or “will be achieved”.

Forward-looking information in this news release is based on certain assumptions and expected future events. These statements involve known and unknown risks, uncertainties and other factors, which may cause actual results, performance or achievements to differ materially from those expressed or implied by such statements. Readers are cautioned that the foregoing list is not exhaustive. Readers are further cautioned not to place undue reliance on forward-looking statements, as there can be no assurance that the plans, intentions or expectations upon which they are placed will occur. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated.

Forward-looking statements contained in this news release are expressly qualified by this cautionary statement and reflect the Company’s expectations as of the date hereof and are subject to change thereafter. The Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, estimates or opinions, future events or results or otherwise or to explain any material difference between subsequent actual events and such forward-looking information, except as required by applicable law.

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This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities, in any jurisdiction in which such offer, solicitation or sale would be unlawful.

Neither the Canadian Securities Exchange nor its Market Regulator (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/145960

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Newsfile is a customer-focused newswire team that delivers press releases and corporate announcements to the global financial community. Approved by all stock exchanges, Newsfile offers broad access to media, analysts, investors and market participants. With agile services, proactive customer care and affordable pricing; Newsfile makes it easy for companies to tell their story to the audiences they need to reach.

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The GAM3 Awards 2024 Winners Announced

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The winners of the GAM3 Awards 2024 have been crowned! The 21 champions were revealed at a live event presented in partnership with Yield Guild Games (YGG) on November 22nd, marking a well-deserved close to the year and celebration of how far the web3 gaming industry has come.

Following an extremely close competition between the top games, creators, and ecosystems in the industry, our GAM3 Awards victors were revealed during the 2-hour in-person event in Manila and across all major live-streaming platforms. Each game, content creator, and ecosystem managed to top their category to stand out amongst their peers based on their tremendous progress made over the past 12 months.

The 2024 Winners

Here is the full list of winners:

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  • Best Fighting Game: Champions Ascension
  • Best Art Direction: Moonfrost
  • Best Browser: Pirate Nation
  • Best Mobile Game: Fableborne
  • Best RPG: Big Time
  • Best Strategy Game: Parallel
  • Best Action Game: Off the Grid
  • Best Casual Game: Pixels
  • Best Sports Game: Sparkball
  • Best Adventure Game: Ravenquest
  • Best Card Game: Parallel
  • Best Shooter Game: Off the Grid
  • Best Content Creator: YellowPanther
  • Best On-Chain Game: Pirate Nation
  • Best Ecosystem: Ronin
  • Games’ Choice: Wildcard
  • Best Esports Game: Parallel
  • Best Multiplayer Game: Off the Grid
  • People’s Choice: Pixels
  • Most Anticipated Game: MapleStory Universe
  • Game of the Year: Off the Grid

Prizes and Partners

Among the exciting updates for our 2024 GAM3 Awards was the increased $5 million prize pool, which consisted of grants, products, services, marketing, and blockchain support from partners such as AWS, XAI, Thirdweb, Aethir, and Community Gaming among others to help finalists and winners grow even further.

This represented a substantial increase from previous years and underscored our event’s commitment to supporting and fostering the next generation of web3 games. In addition to YGG, we also partnered with Arbitrum, Magic Eden, Immutable, Avalanche, and Skale to make this year’s event even bigger and better than previous years.

Jury and Voting

This year’s jury featured over 70 prominent traditional and blockchain gaming figures, with many returning jurors from previous ceremonies. The diverse panel included representatives from powerhouses such as Amazon, Google, Samsung, Ubisoft, Animoca Brands, Immutable, Arbitrum, Blockchain Game Alliance (BGA), Base, Ronin, and Avalanche, as well as content creators and major media outlets such as VentureBeat.

Much like previous years, the voting process saw the jury’s votes represent 90% of the final decision, with the community making up the remaining 10% for most categories except People’s Choice and Best Content Creator, which were both 100% community voting-based, and Games’ Choice, which is based on shortlisted game studios voting for their favorite title game.

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Community voting played a role in deciding the final decisions with over 1 Million votes from over 143k unique voters. Early October marked the GAM3 Awards 2024 announcement. Since then, hundreds of web3 games urged their communities to nominate and vote for them across different categories. Thousands of social posts were spread across partners, games, media outlets, content creators, and community members generating over 60 Million impressions.

Final Thoughts

The GAM3 Awards 2024 ceremony on November 22nd saw a peak viewership of 48k CCV, reaching over 450k views in the first 24 hours alone. Off The Grid by Gunzilla Games took home four awards, including the coveted “Game of the Year” award. This was followed closely by Parallel, who claimed an impressive three awards. Pixels and Pirate Nation took home two awards each!

With over 300+ in-person attendees, viewers got to witness gameplay premiers and exclusive premier trailers from Golden Tides, Unfettered, Elumia, Providence, Shrapnel, Raven Quest, Mighty Bear Games, Revenge, Trail Xtreme, Warped, and more! All of which are a testament to the bright future of web3 gaming as we head into 2025 with the event expected to return next November for its fourth consecutive edition.

The post The GAM3 Awards 2024 Winners Announced appeared first on News, Events, Advertising Options.

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Bybit Launches bbSOL Virtual Card, Bridging Solana Ecosystem with Innovative Features

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Bybit Web3 Leads the Way in Ecosystem Collaboration – Launching Sui Wonderland 2024

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