Financial Data and Key Metrics Changes - Total revenues for 2023 were 10.8 million in 2022 to 4.6 million, down from a loss of 17 million and positive net income in 2023 [11][12] - Allied Experiential Entertainment formed a joint venture, Skyline Music Entertainment Limited, to capitalize on the entertainment industry in Asia [12] Market Data and Key Metrics Changes - HyperX Arena saw increased demand, contributing to higher sponsorship revenues [17] - The partnership with Elite Fun Entertainment and other local companies aims to enhance event planning and operations in Asia [12][14] Company Strategy and Development Direction - The company is focused on growth through strategic investments and partnerships, particularly in the Asian market [12][14] - Continued emphasis on reducing expenses and improving financial performance across all business lines [7][18] - Plans to leverage the integration of Z-Tech to enhance distribution capabilities for mobile games [11] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's position for 2024, highlighting the integration of Z-Tech and ongoing demand for AEI properties [21][22] - The company believes its stock is undervalued and continues to repurchase shares as part of its strategy [15][20] Other Important Information - The company repurchased approximately 2.3 million shares between November 2022 and the end of 2023 [15] - The financial results for Q4 2023 showed revenues of $2.1 million, a 70% increase from the prior year [17] Summary of Q&A Session Question: No formal Q&A session for this event - There were no questions or answers recorded during the conference call [23]
Allied Gaming & Entertainment (AGAE) - 2023 Q4 - Earnings Call Transcript