2024-10-16
In this interview, Christopher Steele, CEO at Tangiamo Touch Technology, shares insights on the acquisition of Trustplay and its significance for the company. He also emphasizes the ongoing rights issue's importance for growth and transformation.
1. Can you tell us about the acquisition of Trustplay?
The acquisition of Trustplay is a game-changer for our business. Until now, we've primarily operated within the traditional casino market, but this acquisition significantly broadens our scope. Trustplay brings with it an extensive IP and software portfolio, which we plan to fully capitalize on moving forward. Our focus is now on delivering shareholder value by commercializing the solutions within Trustplay's portfolio.
Magnus Lindberg, the founder of Trustplay, will become the largest shareholder in Tangiamo after the rights issue, holding approximately 27% of the capital. In addition to joining the board of directors, he will also work alongside me in the company leadership. Magnus has a proven track record, having been involved in exits valued at 400 MSEK. His experience in the i-Gaming industry will therefore be valuable going forward.
2. What are your primary goals moving forward?
Our top priority is establishing a solid foundation for sustainable and profitable growth. While this is no simple task, it remains our core objective. Securing our first deals and customers is crucial, and we will be focused on that in the near term.
3. Do you anticipate reaching profitability within the next few years?
Although we are unable to provide specific financial guidance regarding profitability, our aim is to achieve it as soon as possible. The ongoing rights issue will play a key role in this, as it will allow us to focus more on customer acquisition and fully leverage Trustplay’s solutions.
4. How will you prioritize your focus moving forward?
Looking ahead, our main focus will be on increasing market interest in Trustplay’s products and generating revenue. This naturally means that we will allocate less attention to the legacy business, as we intend to keep our operating expenses tight. However, we will continue to deliver the products that our existing and new customers demand, but the primary emphasis will be on growing the Trustplay operations.
5. What will the funds from the rights issue be used for?
The funds will be allocated as follows:
- 50%: customer acquisition, sales, and marketing activities
- 30%: working capital
- 20%: R&D
It’s important to note that these allocations will remain consistent regardless of the outcome of the rights issue.
6. What message do you have for investors considering participating in the rights issue?
This rights issue marks a fresh start for Tangiamo, presenting an exciting opportunity for investors to join at the beginning of our transformation as we strive to deliver shareholder value. As a show of my personal confidence in this journey, I will be increasing my own stake in the company with 1 million SEK.
We thank Christopher Steele for the interview and wish the company all the best moving forward.
Disclaimer:
This is an interview that has been done on behalf of the company. Impala Nordic and/or people behind Impala Nordic are guarantors in the company's ongoing rights issue.
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Detta är en intervju som har gjorts på uppdrag av bolaget. Impala Nordic och/eller personer bakom Impala Nordic är garanter i bolagets pågående företrädesemission.