Sports Venues of Florida (OTCMKTS

BTHR) Releases Management Report for the Week Ended March 20, 2021 (Includes Overview of Quarterly Results)

THOMASVILLE, GA, March 22, 2021 (GLOBE NEWSWIRE) -- via NewMediaWire -- Sports Venues of Florida, Inc. (OTCMKTS: BTHR) (“Sports Venues of Florida”, “BTHR”, or the “Company”), an emerging leader in the youth sports, family sports entertainment, and eSports markets, announces third quarter highlights along with upcoming tournament schedule. The Company’s final financial disclosure for the period ended February 28, 2021 will be uploaded to OTCMarkets.com not later than Friday, March 26, 2021.

The Company continues to make improvements to its financial condition each quarter and the quarter ended February 28, 2021 is no exception. Improvements to the balance sheet include cash on hand increasing by 45% from $45,005 to $81,259. Derivative Liabilities decreased by 86% going from $238,373 to $32,696. Accrued Payroll decreased by 93% from $64,167 to $4,194. For the three months ended February 28, 2021 as compared to 2020, net loss improved 74.4% from a loss of $1,238,977 in 2020 to just $316,007 in 2021. Loss from operations for the quarter improved 87.6% going from a loss of $1,484,783 in 2020 to $182,905. Basic and diluted income (loss) per share improved 100% from a loss of ($0.03) per share in 2020 to ($0.00) in 2021.

For the nine months ended February 28, 2021 as compared to 2020 revenues improved from $0.00 in 2020 to $14,634. Loss from operations improved by 41% going from a loss of $1,541,630 to $905,955. For the nine months Basic and diluted income (loss) per share improved dramatically from a loss of ($7.00) per share to just ($0.02) per share.

John V Whitman Jr, CEO/Chairman, said, “Our Company continues to make improvements both financially and in market share. It is certainly a pleasure to provide the public with outstanding results from operations like we experienced last quarter as compared to the previous nine months. We forecast continued improvements mainly on the revenue front over the next few months. Whatever holes we still have can be filled with revenue generation and we are totally focused on that singular aspect of our business.”

The Company is advancing towards its short-term and long-term goals; this week’s Pokémon TCG was a success with 194 players registered. March has one more event left: World of Tanks on March 28th and is looking good. We are excited that the World of Tanks community is supporting our events. This week we have been finalizing plans to work with Twitch Influencers to build awareness for next week's World of Tanks event and bringing our event to a larger fan base with broadcasts not only in English but also looking to have commentators on other channels for Czech and German-speaking audiences.