Here are the 10-K annual reports from Mobile Global Esports Inc (MGAM) in our archive since June 2025, newest first, and each one links through to the document itself with the summary and the scores our analysis gives it.
A 10-K covers the audited annual report, with the full financial statements, so if you follow MGAM and want that one kind of document rather than the whole filing history, this is the page to keep. The company's other filings, of every form, are on the full MGAM filings page.
Mobile Global Esports Inc. reports a small start to revenue and continued heavy losses for 2025, alongside substantial doubt about its ability to continue as a going concern. The company generated about $3,700 of revenue from a beta fantasy baseball league while focusing on developing its Dominus scoring engine and PUHZL personalization platform.
Selling, general and administrative expenses were about $2.16 million, driving a loss from continuing operations of roughly $2.13 million and a total net loss of about $2.26 million. Cash and restricted cash fell to about $573,000, with an accumulated deficit of roughly $12.9 million.
The company exited its India esports subsidiary, recording a smaller loss from discontinued operations, and relied on multiple promissory and convertible notes plus equity issuances to raise over $1.1 million of financing cash in 2025. Management explicitly states that additional capital will be needed to fund operations for at least the next 12 months, and auditors highlight going concern risk. Significant equity issuances to consultants and investors, along with new equity incentive capacity, point to ongoing dilution risk for existing shareholders.