Animoca Brands Annual Report 2019

Key insights

7 takeaways

01
The consolidated entity's 2019 revenue was 16,150,893, up from 12,769,667 in 2018, while it recorded a loss after tax of 33,191,750.See it on page 48
02
The auditor drew attention to a material uncertainty related to going concern, though the audit opinion was not modified for this matter.See it on page 157
03
Goodwill on acquisition of 9,426,223 was impaired in 2019, and intellectual property amortisation was 2,299,601.See it on page 48
04
Net cash used in operating activities was 6,886,544 in 2019, compared with 3,340,400 in 2018.See it on page 53
05
The company's shares were removed from the Official List of the Australian Securities Exchange with effect from 9 March 2020.See it on page 13
06
The 2020 Content Pre-Sale for F1 Delta Time sold out within 5 hours, with participants spending 44,480,000 REVV, equivalent to about US$1.3 million.See it on page 21
07
Net assets fell from 17,959,741 at 31 December 2018 to 10,537,339 at 31 December 2019, and the company reported negative working capital of 13,044,723.See it on page 54

Summary

Animoca Brands Corporation Limited, an Australian-incorporated company with its principal office in Hong Kong, released its annual report for the financial year ended 31 December 2019, with the financial statements authorised for issue on 14 July 2022. The report covers the consolidated group's mobile game development and publishing, its blockchain and NFT activities, and its investments and acquisitions. It includes directors' and remuneration reports, consolidated financial statements, notes, and an audit opinion from DFK Collins that carries a material uncertainty related to going concern.

The consolidated entity reported 2019 revenue of 16,150,893 (up from 12,769,667 in 2018) and a loss after tax of 33,191,750, of which 32,101,546 was attributable to owners of the parent. Total assets were 39,842,894 at year end, and net cash used in operating activities was 6,886,544. The company wrote down 9,426,223 of goodwill on acquisition and recorded 2,299,601 of intellectual property amortisation.

The report notes that the parent's shares were removed from the Official List of the Australian Securities Exchange with effect from 9 March 2020. It also describes early NFT sales, including F1 Delta Time crate sales and auctions in 2020, and records that participants in the 2020 Content Pre-Sale spent 44,480,000 REVV, about US$1.3 million.