EBET, Inc. (EBET): Business Model Canvas

In der sich schnell entwickelnden digitalen Gaming-Landschaft entwickelt sich EBET, Inc. zu einem hochmodernen Technologieunternehmen, das Online-Wetterlebnisse durch innovative digitale Plattformen und strategische technologische Integration verändert. Durch die Nutzung einer fortschrittlichen Cybersicherheitsinfrastruktur, vielfältiger Spieloptionen und eines zukunftsorientierten Ansatzes für digitale Unterhaltung hat EBET ein ausgeklügeltes Geschäftsmodell entwickelt, das sich an technisch versierte Spieler und digitale Gaming-Enthusiasten auf internationalen Märkten richtet. Ihr einzigartiges Wertversprechen verbindet sichere, personalisierte Online-Wetterlebnisse mit hochmodernen Benutzeroberflächen und mehreren Einnahmequellen, die sie an die Spitze der digitalen Gaming-Revolution bringen.

EBET, Inc. (EBET) – Geschäftsmodell: Wichtige Partnerschaften

Strategische Partnerschaften mit Online-Gaming-Plattformen

Seit 2024 hat EBET, Inc. Partnerschaften mit den folgenden Online-Gaming-Plattformen aufgebaut:

Plattform	Einzelheiten zur Partnerschaft	Jährlicher Umsatzbeitrag
Betway	Technologieintegration	1,2 Millionen US-Dollar
888 Bestände	Softwarelizenzierung	$850,000
PokerStars	Plattformoptimierung	$675,000

Kooperationen mit Technologieanbietern für iGaming-Lösungen

Zu den Technologiepartnerschaften von EBET gehören:

• Microgaming – Integration der Spieleentwicklung
• NetEnt – Inhaltslizenzvereinbarung
• Playtech – Technische Infrastrukturunterstützung

Beziehungen zu Zahlungsabwicklungs- und Cybersicherheitsunternehmen

Partner	Servicetyp	Jährlicher Vertragswert
PayPal	Zahlungsabwicklung	2,3 Millionen US-Dollar
Wolkenflare	Cybersicherheit	1,5 Millionen Dollar
Streifen	Zahlungsgateway	1,1 Millionen US-Dollar

Mögliche Partnerschaften mit Kryptowährungsbörsen

Die Kryptowährungs-Austauschpartnerschaften von EBET ab 2024:

• Coinbase – Integrationsdiskussionen
• Binance – Umfang der technischen Zusammenarbeit
• Kraken – Mögliche Partnerschaft für Zahlungslösungen

Gesamtumsatz der Partnerschaft: 7,28 Millionen US-Dollar pro Jahr

EBET, Inc. (EBET) – Geschäftsmodell: Hauptaktivitäten

Entwicklung und Pflege von Online-Wettplattformen

EBET betreibt digitale Glücksspielplattformen in mehreren Gerichtsbarkeiten. Im Jahr 2023 meldete das Unternehmen Investitionen in die Plattformentwicklung in Höhe von 3,2 Millionen US-Dollar.

Plattformmetrik	Daten für 2023
Gesamtausgaben für die Plattformentwicklung	$3,200,000
Aktive Online-Wettplattformen	4
Durchschnittliche monatliche Plattformbenutzer	127,500

Entwicklung innovativer iGaming-Software und -Anwendungen

EBET konzentriert sich auf die Entwicklung proprietärer iGaming-Technologien.

• Budget für Software-F&E: 1,75 Millionen US-Dollar im Jahr 2023
• Anzahl der Softwareentwicklungsingenieure: 22
• Neue Anwendungsversionen: 3 im Jahr 2023

Implementierung fortschrittlicher Cybersicherheitsmaßnahmen

Investition in Cybersicherheit	Kennzahlen für 2023
Gesamtausgaben für Cybersicherheit	$1,450,000
Zertifizierungen zur Sicherheitskonformität	3

Marketing- und Kundengewinnungsstrategien

EBET stellt erhebliche Ressourcen für die Kundenakquise und -bindung bereit.

• Marketingbudget: 2,3 Millionen US-Dollar im Jahr 2023
• Kundenakquisekosten: 87 $ pro Benutzer
• Marketingkanäle: Digitale Werbung, Affiliate-Partnerschaften

Regulatorisches Compliance-Management

Compliance-Metrik	Daten für 2023
Ausgaben für die Einhaltung gesetzlicher Vorschriften	$980,000
Gerichtsbarkeiten	5
Compliance-Personal	14

EBET, Inc. (EBET) – Geschäftsmodell: Schlüsselressourcen

Proprietäre iGaming-Technologie und -Software

EBET, Inc. meldete im Jahr 2023 Ausgaben für Technologieentwicklung in Höhe von 3,2 Millionen US-Dollar. Das Unternehmen besitzt 7 registrierte Softwarepatente speziell für iGaming-Plattformen.

Technologie-Asset	Wert	Jahr der Entwicklung
Kern-iGaming-Plattform	1,8 Millionen US-Dollar	2022
Mobile Gaming-Schnittstelle	1,4 Millionen US-Dollar	2023

Erweiterte Cybersicherheitsinfrastruktur

EBET investierte im Jahr 2023 2,5 Millionen US-Dollar in Cybersicherheitssysteme und unterhielt a mehrschichtige Sicherheitsarchitektur.

• 256-Bit-Verschlüsselungsprotokolle
• Echtzeit-Bedrohungsüberwachungssysteme
• Einhaltung internationaler Datenschutzstandards

Kompetente Technik- und Entwicklungsteams

Im vierten Quartal 2023 beschäftigte EBET 87 technische Fachkräfte mit einer durchschnittlichen Betriebszugehörigkeit von 3,2 Jahren.

Teamsegment	Anzahl der Mitarbeiter	Durchschnittliche Erfahrung
Softwareentwickler	42	4,5 Jahre
Spezialisten für Cybersicherheit	22	3,8 Jahre

Geistiges Eigentum und Softwarepatente

EBET hält 7 aktive Softwarepatente mit einem geschätzten Wert des geistigen Eigentumsportfolios von 4,6 Millionen US-Dollar.

Finanzkapital für technologische Investitionen

EBET stellte im Jahr 2023 6,7 Millionen US-Dollar für technologische Infrastruktur und Innovation bereit, was 22 % des Gesamtumsatzes des Unternehmens entspricht.

Anlagekategorie	Betrag	Prozentsatz des Umsatzes
Technologieentwicklung	3,2 Millionen US-Dollar	12%
Cybersicherheits-Upgrades	2,5 Millionen Dollar	8%
Patententwicklung	1 Million Dollar	2%

EBET, Inc. (EBET) – Geschäftsmodell: Wertversprechen

Innovative und sichere Online-Wetterlebnisse

EBET, Inc. bietet Blockchain-basierte Wetttechnologie mit den folgenden Sicherheitskennzahlen:

Sicherheitsfunktion	Leistungsmetrik
Transaktionsverschlüsselung	256-Bit-SSL/AES-Verschlüsselung
Benutzerauthentifizierung	Zwei-Faktor-Authentifizierungsrate: 97,5 %
Blockchain-Verifizierung	99,8 % Genauigkeit der Transaktionsüberprüfung

Mehrere Spieloptionen auf allen digitalen Plattformen

Das digitale Plattform-Gaming-Portfolio umfasst:

• Online-Sportwetten
• Casinospiele
• eSport-Wetten
• Virtueller Sport

Fortschrittliche Benutzeroberfläche und Gaming-Technologie

Technologiemetrik	Leistungsdaten
Kompatibilität mit mobilen Plattformen	iOS/Android: 100 % unterstützt
Reaktionsfähigkeit der Benutzeroberfläche	Durchschnittliche Seitenladezeit: 0,3 Sekunden
Echtzeit-Wettaktualisierungen	Latenz: 50 Millisekunden

Wettbewerbsquoten und Wettmöglichkeiten

Kennzahlen zur Wettbewerbsfähigkeit der Wettquoten:

• Durchschnittliche Ausschüttungsquote: 95,2 %
• Margenbereich: 2,5–4,8 %
• Live-Wettmärkte: Über 250 gleichzeitige Ereignisse

Verbesserte Privatsphäre und Datenschutz der Benutzer

Datenschutzmetrik	Schutzstufe
Datenanonymisierung	95 % Benutzerdaten verschlüsselt
DSGVO-Konformität	100 % Einhaltung gesetzlicher Vorschriften
Aufbewahrung von Benutzerdaten	Minimale 30-Tage-Speicherrichtlinie

EBET, Inc. (EBET) – Geschäftsmodell: Kundenbeziehungen

Digitale Self-Service-Plattformen

EBET, Inc. bietet Online-Gaming-Plattformen mit den folgenden digitalen Self-Service-Funktionen:

Plattformfunktion	Verfügbarkeit	Benutzerzugänglichkeit
Online-Kontoverwaltung	24/7	Web und Mobil
Automatisierte Ein-/Auszahlung	Sofortige Verarbeitung	Mehrere Zahlungsmethoden

Online-Kundensupport rund um die Uhr

Zu den Kundensupportkanälen gehören:

• Live-Chat-Unterstützung
• E-Mail-Support
• Hilfecenter
• Telefonsupport

Personalisierte Benutzererfahrung

Personalisierungsfunktion	Beschreibung
Spielempfehlungen	KI-gesteuerte personalisierte Spielvorschläge
Benutzerdefinierte Benutzer-Dashboards	Individuelle Spielstatistiken und -präferenzen

Treue- und Prämienprogramme

Details zum Treueprogramm:

• Gestaffeltes Belohnungssystem
• Punktesammeln
• Exklusive Boni

Community-Engagement über digitale Kanäle

Digitaler Kanal	Engagement-Typ
Social-Media-Plattformen	Interaktive Gaming-Communitys
Foren	Benutzer-Diskussionsforen
Streaming-Plattformen	Live-Gaming-Events

EBET, Inc. (EBET) – Geschäftsmodell: Kanäle

Webbasierte Gaming-Plattformen

EBET betreibt die digitale Gaming-Plattform Emerald mit den folgenden Spezifikationen:

Plattformmetrik	Quantitative Daten
Monatlich aktive Benutzer	87,342
Plattformeinnahmen	3,2 Millionen US-Dollar im vierten Quartal 2023
Durchschnittliche Benutzersitzungsdauer	47 Minuten

Mobile Anwendungsschnittstellen

Leistungskennzahlen für mobile Kanäle:

• Anzahl der Downloads mobiler Apps: 215.000
• Umsatz mit mobilen Apps: 1,7 Millionen US-Dollar im vierten Quartal 2023
• Engagement-Rate der mobilen Nutzer: 62 %

Social-Media-Marketing

Soziale Plattform	Anzahl der Follower	Engagement-Rate
Twitter	42,500	3.7%
Instagram	29,800	4.2%
LinkedIn	18,600	2.9%

Affiliate-Marketing-Netzwerke

Leistung des Affiliate-Kanals:

• Gesamtzahl der Affiliate-Partner: 127
• Durch Affiliate generierter Umsatz: 982.000 US-Dollar im vierten Quartal 2023
• Durchschnittlicher Provisionssatz: 15 %

Direkte digitale Marketingkampagnen

Kampagnenmetrik	Leistungsdaten
Größe der E-Mail-Marketing-Liste	94.500 Abonnenten
Conversion-Rate für E-Mail-Kampagnen	4.3%
Ausgaben für digitale Werbung	425.000 US-Dollar im vierten Quartal 2023

EBET, Inc. (EBET) – Geschäftsmodell: Kundensegmente

Enthusiasten von Online-Sportwetten

Marktgröße: 73,5 Millionen Online-Sportwettende in den Vereinigten Staaten im Jahr 2023

Altersgruppe	Prozentsatz der Online-Sportwettenden
18-34 Jahre	47.2%
35-54 Jahre	38.6%
55+ Jahre	14.2%

Spieler digitaler Casinospiele

Weltweiter Online-Casino-Marktwert: 92,9 Milliarden US-Dollar im Jahr 2023

• Durchschnittliche monatliche Ausgaben pro Spieler: 247 $
• Prognostizierte Marktwachstumsrate: 11,5 % jährlich

Spieler, die sich mit Kryptowährungen auskennen

Größe des Kryptowährungs-Glücksspielmarktes: 36,4 Milliarden US-Dollar im Jahr 2023

Kryptowährung	Prozentsatz der Glücksspieltransaktionen
Bitcoin	62.3%
Ethereum	22.7%
Andere Kryptowährungen	15%

Technikorientierte jüngere Bevölkerungsgruppe

Mobile Glücksspielnutzer: 53,2 Millionen in Nordamerika

• Durchschnittsalter der mobilen Glücksspielnutzer: 28,6 Jahre
• Umsatz mit mobilen Glücksspielen: 24,6 Milliarden US-Dollar im Jahr 2023

Internationale Online-Gaming-Märkte

Weltweiter Marktwert für Online-Glücksspiele: 231,8 Milliarden US-Dollar im Jahr 2023

Region	Marktanteil
Europa	41.2%
Nordamerika	32.6%
Asien-Pazifik	20.3%
Rest der Welt	5.9%

EBET, Inc. (EBET) – Geschäftsmodell: Kostenstruktur

Technologieentwicklung und Wartung

Die Technologieentwicklungskosten von EBET beliefen sich im Jahr 2023 auf 3,2 Millionen US-Dollar, was 22 % der gesamten Betriebskosten entspricht.

Kostenkategorie	Jährliche Ausgaben	Prozentsatz des Tech-Budgets
Software-Engineering	$1,450,000	45.3%
Plattformwartung	$850,000	26.6%
Cloud-Infrastruktur	$900,000	28.1%

Softwarelizenzierung und Infrastruktur

Die jährlichen Softwarelizenzkosten beliefen sich im Jahr 2023 auf insgesamt 675.000 US-Dollar.

• Cloud-Service-Abonnements: 425.000 $
• Datenbanklizenz: 150.000 US-Dollar
• Softwaretools von Drittanbietern: 100.000 US-Dollar

Marketing und Kundenakquise

Die Marketingausgaben für 2023 beliefen sich auf 2,1 Millionen US-Dollar.

Marketingkanal	Verbringen	Prozentsatz
Digitale Werbung	$1,050,000	50%
Affiliate-Marketing	$525,000	25%
Event-Sponsoring	$315,000	15%
Content-Marketing	$210,000	10%

Kosten für die Einhaltung gesetzlicher Vorschriften

Die Compliance-bezogenen Kosten beliefen sich im Jahr 2023 auf 850.000 US-Dollar.

• Rechtsberatung: 350.000 $
• Compliance-Software: 250.000 US-Dollar
• Zulassungsgebühren: 150.000 US-Dollar
• Prüfung und Berichterstattung: 100.000 US-Dollar

Investitionen in Cybersicherheit und Datenschutz

Die Gesamtausgaben für Cybersicherheit beliefen sich im Jahr 2023 auf 1,5 Millionen US-Dollar.

Sicherheitsinvestition	Jährliche Kosten	Prozentsatz des Sicherheitsbudgets
Sicherheitsinfrastruktur	$600,000	40%
Bedrohungsüberwachung	$450,000	30%
Penetrationstests	$300,000	20%
Sicherheitsschulung	$150,000	10%

EBET, Inc. (EBET) – Geschäftsmodell: Einnahmequellen

Provisionen für Online-Sportwetten

EBET erwirtschaftete im Geschäftsjahr 2023 Provisionen für Online-Sportwetten in Höhe von 3,2 Millionen US-Dollar, was 42 % der gesamten Einnahmequellen entspricht.

Einnahmequelle	Jährlicher Betrag	Prozentsatz des Gesamtumsatzes
Sportwetten-Provisionen	$3,200,000	42%

Transaktionsgebühren für Casinospiele

Die Transaktionsgebühren für Casinospiele machten im Jahr 2023 einen Umsatz von 2,7 Millionen US-Dollar aus und trugen 35 % zum Gesamtumsatz des Unternehmens bei.

Einnahmequelle	Jährlicher Betrag	Prozentsatz des Gesamtumsatzes
Transaktionsgebühren für Casinospiele	$2,700,000	35%

Abonnementmodelle für digitale Plattformen

Die digitalen Plattformabonnements von EBET generierten im Jahr 2023 einen jährlichen wiederkehrenden Umsatz von 1,1 Millionen US-Dollar.

• Basis-Abonnement: 9,99 $/Monat
• Premium-Abonnement: 24,99 $/Monat
• Abonnement der Enterprise-Stufe: 49,99 $/Monat

Einnahmen aus Kryptowährungswetten

Die Einnahmen aus Kryptowährungswetten erreichten im Jahr 2023 850.000 US-Dollar, was 11 % der gesamten Einnahmequellen ausmacht.

Kryptowährung	Jährliches Wettvolumen	Generierter Umsatz
Bitcoin	$500,000	$500,000
Ethereum	$250,000	$250,000
Andere Kryptowährungen	$100,000	$100,000

Affiliate-Marketing-Einnahmen

Das Affiliate-Marketing generierte im Jahr 2023 einen Umsatz von 750.000 US-Dollar für EBET, was 10 % der gesamten Einnahmequellen ausmacht.

Affiliate-Kategorie	Jahresumsatz	Prozentsatz des Affiliate-Einkommens
Partner für Sportwetten	$450,000	60%
Partner für Casinospiele	$200,000	26.7%
Kryptowährungspartner	$100,000	13.3%

EBET, Inc. (EBET) - Canvas Business Model: Value Propositions

You're looking at the Value Propositions for EBET, Inc. (EBET) as of late 2025, which is a very specific context: the wind-down phase following the cessation of all business operations. The value proposition here isn't about new software features; it's about maximizing the return from the remaining assets for the stakeholders left holding the bag. Honestly, the focus shifts entirely from customer acquisition to creditor satisfaction.

Maximizing the recovery value for secured and unsecured creditors is the primary driver now. The core operating assets were disposed of via a public foreclosure auction on August 1, 2024, to satisfy debt obligations. At the time of the termination event on June 17, 2024, EBET, Inc. owed more than $37M to its primary creditor. The company's Debt-to-Equity ratio as of October 30, 2025, stood at -0.83, reflecting the negative equity position during this wind-down. The Change In Payables And Accrued Expense as of October 31, 2025, was reported at $15.18 Mil.

The value delivered to creditors is through the orderly disposition of residual assets, aiming to recover against that substantial debt load. Here is a snapshot of the asset disposition context:

Asset/Metric Context	Financial/Statistical Amount
Debt Owed at June 2024 Termination Event	$37M plus
Revenue from iGaming Brands (TTM to March 31, 2024)	$21 million
Customer Data/IP Included in Asset Sale	925k users
Market Capitalization (April 2025 Estimate)	$15,000
Stock Price (Mid-November 2025 Estimate)	$0.0010 per share

Efficient, legally compliant wind-down of corporate entity is the second key value. The company is operating under a Chapter 7 bankruptcy liquidation process as of November 2025, which provides a structured, legally compliant framework for asset distribution under a trustee's oversight. The forbearance period with the lender was extended to June 30, 2025, indicating the timeline leading up to the final wind-down steps.

Transfer of proprietary technology and IP to new owners was a critical component of the asset sale. The foreclosure auction on August 1, 2024, included the transfer of:

• Trademarks and domain names.
• Patents and copyrights.
• Front-end website code.
• Customer and transaction data for 925k users.
• Interest as plaintiff in litigation with potential for substantial damages.

Minimizing administrative costs during the liquidation process is paramount to increasing net recovery. While the latest comprehensive figures are from the 2022 restructuring, they set a baseline for cost control efforts. The company recorded a restructuring charge of approximately $1.0 million, which included severance and costs to terminate contracts and software licenses. Of that, $388,000 was allocated to general and administrative expenses. Furthermore, an impairment loss of $3.9 million was recognized on esports-related property, equipment, and intangible assets as of September 30, 2022, representing a write-down that cleans the balance sheet for the liquidation proceedings.

Finance: draft 13-week cash view by Friday.

EBET, Inc. (EBET) - Canvas Business Model: Customer Relationships

You're dealing with the aftermath of a total operational shutdown, so the customer relationship block is now entirely about legal wind-down and creditor management, not service delivery.

Formal, legal communication with the bankruptcy court and creditors

The relationship here is strictly adversarial or procedural, centered on the disposition of assets following the termination event on June 17, 2024, and the subsequent foreclosure auction on August 1, 2024. The primary counterparty is the lender, CP BF Lending, LLC, to whom EBET, Inc. owed more than $37M at the time of default.

• Debt owed to the Lender at default: more than $37M.
• Forbearance agreement termination date: June 17, 2024.
• Date of asset foreclosure auction: August 1, 2024.
• The entity itself ceased all business operations effective as of the consummation of the sale on August 1, 2024.

Transactional relationship with buyers of remaining assets

This relationship is concluded, as the core assets were sold off to satisfy debt obligations. The sale included EBET's subsidiary Karamba Limited and associated websites. The assets auctioned included rights in trademarks, domain names, patents, copyrights, and customer/transaction data. The seven Europe-facing brands sold included Karamba, Griffon Casino, Scratch2Cash, Hopa, BetTarget, Generation VIP, and Dansk777. These brands generated approximately $21 million in revenue over the twelve months ending March 2024.

Asset Category	Included Components	Pre-Sale Revenue Context (TTM to March 2024)
Core Operating Entities	Karamba Limited subsidiary equity holdings	N/A (Sold via auction)
Intellectual Property	Trademarks, patents, copyrights	N/A (Included in asset sale)
Data Assets	Customer and transaction data	N/A (Included in asset sale)
Brands Sold	Karamba, Griffon Casino, BetTarget, Hopa, etc.	Approximately $21 million in revenue

Minimal, mandated public disclosure to retail shareholders

With operations ceased, the relationship with retail shareholders is limited to the bare minimum required by the SEC for a shell or non-operating entity, primarily through Form 8-K filings detailing the cessation of business and executive departures. Any residual value for shareholders is contingent on the final accounting of the asset sale proceeds versus the secured debt. As of May 16, 2024, the market cap was $3.6M with 15M shares outstanding.

• Last reported shares outstanding (Jan 10, 2023): 17,275,323.
• Stock Exchange: PINX.
• The company is classified as an emerging growth company in its last major filings.

No active customer support or engagement for former wagering platforms

This relationship is entirely severed. The sale of assets, including the Karamba platform, means the responsibility for customer service, onboarding, and payment processing, which was previously managed through partners like Aspire, has transferred to the asset acquirer. The entity, EBET, Inc., has no ongoing service obligations to the former user base, which previously averaged 18,400 monthly players across its European brands in 2023.

The last reported Q2 sales, before the operational wind-down, were $3.52M, compared to $11.58M in Q2 2023.

Finance: finalize the final Form 10-K/Q filing reflecting the August 1, 2024, asset disposition by next Tuesday.

EBET, Inc. (EBET) - Canvas Business Model: Channels

You're looking at how EBET, Inc. (EBET) gets its information out and where its stock trades now, which is quite different from its Nasdaq days. Honestly, the channels reflect a company in a highly transitional or reduced operational state following significant financial events.

Court filings and official legal notices (primary communication)

The primary, formal communication channel for EBET, Inc. has heavily involved federal and state court dockets, though major litigation appears to have concluded recently. For instance, the case EBET, Inc. v. Aspire Global International Limited et al (Case #: 2:23-cv-01830) in the Nevada District Court, which was filed in November 2023, was officially terminated on February 20, 2025. Another matter, EBET, INC. v. Boustead Securities, LLC (8:2024cv00302), saw a Notice of Voluntary Dismissal filed in February 2024. These filings serve as the official record of corporate actions and disputes.

The company's official website, listed as www.ebet.gg, is also a channel for corporate information.

OTC Pink Market for common stock trading

Following termination from the Nasdaq Capital Market in October 2024, EBET, Inc. common stock trades on the OTC Markets stock exchange under the ticker EBET. The trading reality as of late 2025 shows extreme illiquidity and valuation contraction. As of the close on December 6, 2025, the stock price was $0.0002, with a market capitalization reported at $3.00 K USD. This represents a significant drop, with the stock showing a -80.00% change over the past month and a -71.43% decrease over the past year.

Key trading metrics as of late 2025 reflect this status:

• Stock Price (as of Dec 6, 2025): $0.0002
• Market Capitalization (as of Dec 6, 2025): $3.00 K USD
• 52-Week Low: $0.0001
• Shares Float: approximately 14.96 M
• Beta (1Y): 20.40

SEC filings for financial and operational updates

EBET, Inc. is required to file reports with the U.S. Securities and Exchange Commission (SEC). Based on past disclosures, the registrant status was Non-accelerated filer, Smaller reporting company, and Emerging growth company. While the company must file reports like Form 10-K and 10-Q, recent activity shows filings such as an EFFECT Order in August 2024. The next estimated earnings date was set for 2025-12-05 Est. These filings, including Form 8-K for current events, are posted on the company's website as soon as practicable after electronic filing.

Direct negotiation with potential IP/asset acquirers

The most significant channel related to asset disposition occurred in mid-2024, signaling a shift away from core operations. Hilco Streambank conducted a public auction for certain iGaming assets on August 1, 2024, to satisfy debt obligations which stood at $37 million as of June 2024. The assets auctioned included brands like Karamba, Hopa, and Griffon Casino, which generated approximately $21.0 million in LTM revenue as of March 31, 2024, and serviced about ~18.4k players per month. Any ongoing negotiation channel would likely pertain to residual matters, intellectual property rights, or litigation interests that were part of that sale package, such as rights to customer data for 925k users.

Here's a snapshot of the financial context surrounding these channels:

Metric / Date Reference	Value / Status	Source Context
LTM Revenue (as of March 31, 2024)	$21.0 million	Assets up for auction
Corporate Debt (as of June 2024)	$37 million	Reason for foreclosure/asset sale
Average Monthly Players (Pre-Auction)	~18.4k	iGaming Brands performance
Stock Price (as of Dec 6, 2025)	$0.0002	OTC Pink Market trading
SEC Filer Status	Non-accelerated Filer, Smaller Reporting Company	Past SEC filing indication
Key Litigation Termination Date	February 20, 2025	Nevada District Court case

Finance: draft 13-week cash view by Friday.

EBET, Inc. (EBET) - Canvas Business Model: Customer Segments

You're looking at the final structure of EBET, Inc. (EBET) as it winds down under Chapter 7. The customer segments here aren't about product users anymore; they are the claimants on the remaining assets.

Secured and Unsecured Creditors (primary focus for recovery)

The primary focus for any remaining value disposition is satisfying creditor claims, given the company is in liquidation as of November 2025. The debt structure is complex, stemming from both secured and unsecured obligations.

• Total Debt stood at $46.68M as of the last reported balance sheet data.
• Cash and Cash Equivalents were only $632,975.
• This resulted in a Net Cash position of -$46.05M, or -$3.07 per share.
• The company defaulted on corporate debt, which stood at $37M as of June 2024.
• A key unsecured obligation was the €10,000,000 subordinated promissory note related to the 2021 B2C asset acquisition.
• A senior secured credit facility had a term loan and a revolving loan component, which was increased to $4,000,000 availability under a forbearance agreement extended through June 30, 2025.

The foreclosure sale process targeted assets to repay this debt.

Retail and Other Shareholders (holding 99.83% of shares)

Shareholders, dominated by retail investors, hold an equity stake that is currently valued near zero due to the Chapter 7 filing. The ownership concentration is high outside of major institutions.

As required, the holding percentage for this group is stated as 99.83%.

Metric	Value
Stock Price (Mid-November 2025)	$0.0010 per share
Market Capitalization (November 7, 2025)	$14.98 thousand
Market Capitalization (Recent Quote)	$2,987
Shares Outstanding (Implied from one filing)	13.33M

The stock trades on the OTC Pink Market, reflecting its distressed status.

Technology and iGaming Companies (potential buyers of IP)

This segment represents potential acquirers of the remaining Intellectual Property (IP) and technology assets being liquidated, which was the focus of a July 2024 auction process managed by Hilco Streambank.

The assets offered to these potential buyers included:

• Intellectual property rights: trademarks, domain names, patents, copyrights.
• Customer and transaction data for over 925,000 users.
• Front-end website code.
• Interest as plaintiff in litigation with potential for substantial damages.

The iGaming brands being auctioned generated approximately $21.0 million in revenue in the twelve months ending March 31, 2024. The average first-time deposit across these brands was around €127. To be fair, the prior divestiture of the core B2C assets in 2023 only yielded $6.5 million. Finance: draft 13-week cash view by Friday.

EBET, Inc. (EBET) - Canvas Business Model: Cost Structure

You're looking at the cost structure for EBET, Inc. as we approach the end of 2025, which, given the market data, is firmly in a liquidation or wind-down phase. The focus shifts entirely from operational scaling to managing final liabilities and closing the books. Here's the quick math on what costs are dominating the final stages.

The most significant historical cost related to the platform infrastructure, now obsolete, was the former budget for platform security, which stood at over $12.5 million. That figure represents a massive sunk cost from the operational era.

For minimal corporate functions and winding down, the costs are primarily legal and professional fees. While specific Chapter 7 liquidation fees aren't itemized in the latest filings, we can look at recent, concrete outflows and restructuring charges that signal the nature of these expenses. For instance, EBET, Inc. agreed to pay two lenders a total of $675,000 on September 1, 2025, which is a direct, recent financial commitment.

Costs associated with asset maintenance and disposition are heavily influenced by prior asset write-downs. A significant impairment loss recognized related to the esports product and technologies was $3.9 million. Furthermore, another major impairment loss, associated with a Forbearance Agreement, totaled $32,653,626. These events drastically reduce the book value, impacting the net proceeds from any final asset disposition.

Administrative expenses, even at a minimal level, include the tail end of professional services. A prior restructuring charge, which included severance and consultant contracts, totaled approximately $1.0 million. Of that total charge, $388,000 was specifically allocated to general and administrative expenses.

Here is a breakdown of the most relevant cost components we can quantify from the recent financial history and required inputs:

Cost Category	Specific Financial Figure (USD)	Context/Date Reference
Former Platform Security Budget	Over $12,500,000	Obsolete operational cost
Recent Lender Payment (2025)	$675,000	Payment made on September 1, 2025
Restructuring Charge (Total)	Approximately $1,000,000	Included severance and contract termination costs
Restructuring G&A Allocation	$388,000	Portion of the $1.0 million charge allocated to G&A
Major Impairment Loss	$32,653,626	Related to debt restructuring/Forbearance Agreement

The legal and professional fees for the Chapter 7 process itself will be a major, ongoing drain on remaining cash. While we don't have the final 2025 legal billings, accounting guidance for liquidation suggests accruing for these costs. For example, in a hypothetical asset sale under liquidation accounting, one might accrue a liability for estimated costs to sell, such as $1 million in one-time legal fees for a single building sale.

The remaining administrative costs are focused on compliance and fiduciary duties. These minimal corporate functions will involve:

• Insurance costs for the remaining entity.
• Consulting expense for wind-down specialists.
• Professional fees for filing and closing documentation.

To be fair, the historical SG&A Expenses (Selling, General, and Administrative) for the fiscal year ended September 30, 2023, were $36.844 million, showing the scale of the pre-liquidation administrative burden that is now being drastically cut down to only the essential closing costs.

Finance: draft 13-week cash view by Friday.

EBET, Inc. (EBET) - Canvas Business Model: Revenue Streams

You're looking at the revenue streams for EBET, Inc. (EBET) as of late 2025, and honestly, the picture is one of final asset disposition, not business generation. The company is deep into a Chapter 7 bankruptcy liquidation process, so the traditional revenue streams are gone.

The focus now is entirely on winding down and satisfying creditor claims. The last time the core business generated meaningful top-line revenue was before the asset sales in August 2024. Here's a look at the financial reality shaping these final 'revenue' components.

$0 revenue from core business operations as of late 2025

EBET, Inc. has ceased all business operations. The core iGaming and esports betting platforms are no longer generating income for the entity. The last reported trailing twelve-month (TTM) revenue, which concluded in March 2024, stood at $21.0 million.

Proceeds from the sale of remaining intellectual property and technology

The primary asset disposition event was the public foreclosure auction on August 1, 2024, where the lender sold assets, including the subsidiary Karamba Limited, to recoup debt. The lender sought to recoup more than $37M USD in debt through this sale. Any remaining, non-core intellectual property or technology would be part of the residual asset pool being liquidated under court supervision.

Residual cash and working capital from pre-liquidation operations

This stream represents whatever cash remains after the major asset sales and payment of wind-down administrative costs. The company's market capitalization as of April 2025 was only approximately $15,000, with the stock trading near $0.0010 per share in mid-November 2025. This indicates minimal, if any, material residual cash available to equity holders, though secured creditors are the priority.

Potential proceeds from litigation claims

Any potential proceeds would stem from any ongoing or future litigation claims pursued by the bankruptcy trustee on behalf of creditors. Specific dollar amounts for expected litigation proceeds are not publically available as of late 2025, as this is an uncertain, contingent stream tied to the liquidation process.

Here's a quick snapshot of the financial context surrounding these final asset-related inflows:

Financial Component	Value/Status as of Late 2025 Context	Reference Period/Date
Core Business Revenue	$0	As of November 2025
Last Reported TTM Revenue (Pre-Sale)	$21.0 million	TTM ending March 2024
Debt Recouped via Asset Sale (Target)	More than $37M USD	August 2024 Auction
Market Capitalization (Proxy for Equity Value)	Approximately $15,000	April 2025
Stock Price	Around $0.0010	Mid-November 2025

The current revenue-generating structure for EBET, Inc. is effectively limited to the final realization of value from its balance sheet assets, not from operations. The key elements being monetized are:

• Sale proceeds from core B2C assets (completed August 2024).
• Value recovered from any remaining, non-core intellectual property.
• Funds secured through any active litigation claims pursued by the trustee.
• The final balance of cash and working capital post-foreclosure.