GameOn Entertainment Technologies (XCNQ:GET) Beneish M-Score : -2.95 (As of Jun. 07, 2024)

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What is GameOn Entertainment Technologies Beneish M-Score?

The zones of discrimination for M-Score is as such:

An M-Score of equal or less than -1.78 suggests that the company is unlikely to be a manipulator.
An M-Score of greater than -1.78 signals that the company is likely to be a manipulator.

Good Sign:

Beneish M-Score -2.95 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

The historical rank and industry rank for GameOn Entertainment Technologies's Beneish M-Score or its related term are showing as below:

XCNQ:GET' s Beneish M-Score Range Over the Past 10 Years
Min: -2.95 Med: 10.75 Max: 26.84
Current: -2.95

During the past 3 years, the highest Beneish M-Score of GameOn Entertainment Technologies was 26.84. The lowest was -2.95. And the median was 10.75.

GameOn Entertainment Technologies Beneish M-Score Historical Data

The historical data trend for GameOn Entertainment Technologies's Beneish M-Score can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

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GameOn Entertainment Technologies Beneish M-Score Chart

GameOn Entertainment Technologies Annual Data

Trend

Dec20

Dec21

Dec22

Beneish M-Score

26.84

GameOn Entertainment Technologies Quarterly Data
	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23
Beneish M-Score	Get a 7-Day Free Trial										13.84	26.84	-0.96	-0.89	-2.95

Competitive Comparison of GameOn Entertainment Technologies's Beneish M-Score

For the Electronic Gaming & Multimedia subindustry, GameOn Entertainment Technologies's Beneish M-Score, along with its competitors' market caps and Beneish M-Score data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.

GameOn Entertainment Technologies's Beneish M-Score Distribution in the Interactive Media Industry

For the Interactive Media industry and Communication Services sector, GameOn Entertainment Technologies's Beneish M-Score distribution charts can be found below:

* The bar in red indicates where GameOn Entertainment Technologies's Beneish M-Score falls into.

GameOn Entertainment Technologies Beneish M-Score Calculation

The M-score was created by Professor Messod Beneish. Instead of measuring the bankruptcy risk (Altman Z-Score) or business trend (Piotroski F-Score), M-score can be used to detect the risk of earnings manipulation. This is the original research paper on M-score.

The M-Score Variables:

The M-score of GameOn Entertainment Technologies for today is based on a combination of the following eight different indices:

-4.84

0.92 * DSRI

0.528 * GMI

0.404 * AQI

0.892 * SGI

0.115 * DEPI

-4.84

0.92 * 0.0772

0.528 * 1

0.404 * 1.4555

0.892 * 3.2896

0.115 * 1

0.172 * SGAI

4.679 * TATA

0.327 * LVGI

0.172 * 0.2353

4.679 * -0.399

0.327 * 1.3517

-2.95

This Year (Sep23) TTM:

Last Year (Sep22) TTM:

Total Receivables was C$0.03 Mil.
Revenue was 0.181 + 0.364 + 0.336 + 0.198 = C$1.08 Mil.
Gross Profit was 0.181 + 0.364 + 0.336 + 0.198 = C$1.08 Mil.
Total Current Assets was C$0.09 Mil.
Total Assets was C$5.00 Mil.
Property, Plant and Equipment(Net PPE) was C$0.00 Mil.
Depreciation, Depletion and Amortization(DDA) was C$0.13 Mil.
Selling, General, & Admin. Expense(SGA) was C$3.68 Mil.
Total Current Liabilities was C$2.50 Mil.
Long-Term Debt & Capital Lease Obligation was C$0.98 Mil.
Net Income was -1.355 + -0.811 + -0.39 + -1.185 = C$-3.74 Mil.
Non Operating Income was -0.041 + 0.007 + 0.008 + -0.069 = C$-0.10 Mil.
Cash Flow from Operations was -0.549 + -0.944 + -0.101 + -0.057 = C$-1.65 Mil.

Total Receivables was C$0.13 Mil.
Revenue was 0.058 + 0.06 + 0.207 + 0.003 = C$0.33 Mil.
Gross Profit was 0.058 + 0.06 + 0.207 + 0.003 = C$0.33 Mil.
Total Current Assets was C$2.35 Mil.
Total Assets was C$7.22 Mil.
Property, Plant and Equipment(Net PPE) was C$0.00 Mil.
Depreciation, Depletion and Amortization(DDA) was C$0.16 Mil.
Selling, General, & Admin. Expense(SGA) was C$4.75 Mil.
Total Current Liabilities was C$3.68 Mil.
Long-Term Debt & Capital Lease Obligation was C$0.05 Mil.

1. DSRI = Days Sales in Receivables Index

Measured as the ratio of Revenue in Total Receivables in year t to year t-1.

A large increase in DSR could be indicative of revenue inflation.

DSRI	=	(Receivables_t / Revenue_t)	/	(Receivables_t-1 / Revenue_t-1)
	=	(0.033 / 1.079)	/	(0.13 / 0.328)
	=	0.030584	/	0.396341
	=	0.0772

2. GMI = Gross Margin Index

Measured as the ratio of gross margin in year t-1 to gross margin in year t.

Gross margin has deteriorated when this index is above 1. A firm with poorer prospects is more likely to manipulate earnings.

GMI	=	GrossMargin_t-1	/	GrossMargin_t
	=	(GrossProfit_t-1 / Revenue_t-1)	/	(GrossProfit_t / Revenue_t)
	=	(0.328 / 0.328)	/	(1.079 / 1.079)
	=	1	/	1
	=	1

3. AQI = Asset Quality Index

AQI is the ratio of asset quality in year t to year t-1.

Asset quality is measured as the ratio of non-current assets other than Property, Plant and Equipment to Total Assets.

AQI	=	(1 - (CurrentAssets_t + PPE_t) / TotalAssets_t)	/	(1 - (CurrentAssets_t-1 + PPE_t-1) / TotalAssets_t-1)
	=	(1 - (0.09 + 0) / 5)	/	(1 - (2.35 + 0) / 7.224)
	=	0.982	/	0.674695
	=	1.4555

4. SGI = Sales Growth Index

Ratio of Revenue in year t to sales in year t-1.

Sales growth is not itself a measure of manipulation. However, growth companies are likely to find themselves under pressure to manipulate in order to keep up appearances.

SGI	=	Sales_t	/	Sales_t-1
	=	Revenue_t	/	Revenue_t-1
	=	1.079	/	0.328
	=	3.2896

5. DEPI = Depreciation Index

Measured as the ratio of the rate of Depreciation, Depletion and Amortization in year t-1 to the corresponding rate in year t.

DEPI greater than 1 indicates that assets are being depreciated at a slower rate. This suggests that the firm might be revising useful asset life assumptions upwards, or adopting a new method that is income friendly.

DEPI	=	(Depreciation_t-1 / (Depreciaton_t-1 + PPE_t-1))	/	(Depreciation_t / (Depreciaton_t + PPE_t))
	=	(0.155 / (0.155 + 0))	/	(0.13 / (0.13 + 0))
	=	1	/	1
	=	1

Note: If the Depreciation, Depletion and Amortization data is not available, we assume that the depreciation rate is constant and set the Depreciation Index to 1.

6. SGAI = Sales, General and Administrative expenses Index

The ratio of Selling, General, & Admin. Expense(SGA) to Sales in year t relative to year t-1.

SGA expenses index > 1 means that the company is becoming less efficient in generate sales.

SGAI	=	(SGA_t / Sales_t)	/	(SGA_t-1 /Sales_t-1)
	=	(3.675 / 1.079)	/	(4.747 / 0.328)
	=	3.405931	/	14.472561
	=	0.2353

7. LVGI = Leverage Index

The ratio of total debt to Total Assets in year t relative to yeat t-1.

An LVGI > 1 indicates an increase in leverage

LVGI	=	((LTD_t + CurrentLiabilities_t) / TotalAssets_t)	/	((LTD_t-1 + CurrentLiabilities_t-1) / TotalAssets_t-1)
	=	((0.98 + 2.503) / 5)	/	((0.047 + 3.676) / 7.224)
	=	0.6966	/	0.515365
	=	1.3517

8. TATA = Total Accruals to Total Assets

Total accruals calculated as the change in working capital accounts other than cash less depreciation.

TATA	=	(IncomefromContinuingOperations_t	-	CashFlowsfromOperations_t)	/	TotalAssets_t
	=	(NetIncome_t - NonOperatingIncome_t	-	CashFlowsfromOperations_t)	/	TotalAssets_t
	=	(-3.741 - -0.095	-	-1.651)	/	5
	=	-0.399

An M-Score of equal or less than -1.78 suggests that the company is unlikely to be a manipulator. An M-Score of greater than -1.78 signals that the company is likely to be a manipulator.

GameOn Entertainment Technologies has a M-score of -2.95 suggests that the company is unlikely to be a manipulator.

GameOn Entertainment Technologies Beneish M-Score Related Terms

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GameOn Entertainment Technologies (XCNQ:GET) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Communication Services » Interactive Media » GameOn Entertainment Technologies Inc (XCNQ:GET) » Definitions » Beneish M-Score

Comparable Companies

Traded in Other Exchanges

GMETF:USA 9E7:Germany 9E7:Germany

Address

750 West Pender Street, Suite 401, Vancouver, BC, CAN, V6C 2T7

Website

https://www.gameon.app

GameOn Entertainment Technologies Inc is a video game ventures firm focusing on project investments in high-value e-gaming projects featuring recognized intellectual properties. It has generated revenues from gaming projects such as Pacific Rim: Breach Wars, Men In Black, and Hello Kitty.