MGT Capital Investments, Inc. (NYSE-MKT: MGT.BC), announced today pro-forma Stockholders’ Equity as of September 30, 2012 which incorporates a number of financial transactions that occurred subsequent to the end of the Company’s third quarter. As part of its 2012 third quarter report filed on Form 10-Q, the company previously included an unaudited balance sheet reporting Stockholders’ Equity of approximately $935,000, prior to equity from Non-controlling Interests (NCI). The Company also announced its Stockholders’ Equity as of December 5, 2012.
After adjusting for subsequent events as more fully described below, MGT is pleased to announce Stockholders’ Equity of approximately $7.4 million (prior to NCI) on a pro-forma basis for September 30, 2012; after adjusting for the Company’s on-going operating losses in the quarter to date (currently estimated at $600,000), the Company announced Stockholders’ Equity of $6.8 million as of December 5, 2012. Subject to review by the Corporate Compliance Staff of NYSE Regulation, Inc., MGT may be deemed back in compliance with the NYSE MKT LLC’s continued listing standards.
Pro-forma Stockholders’ Equity
The following table sets forth MGT’s Stockholders’ Equity position as of September 30, 2012 as reported, and as adjusted on a pro-forma basis to reflect subsequent events.
|September 30, 2012 (unaudited, $ in thousands)|
|Preferred stock, $0.001 par value;||$||–||$||–||$||1||$||–||$||1|
|Common stock, $0.001 par value;||2||–||3||–||5|
|Additional paid in capital||290,049||(181)||5,860||2,298||298,026|
|Other comprehensive loss||(6,703)||–||–||48||(6,655)|
MGT Stockholders’ Equity
* Includes minority interests in MGT Gaming, Inc. and Medicsight Ltd.
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