News

Monaker Group Completes Name Change to NextPlay Technologies, and Will Trade Under Nasdaq Ticker Symbol, NXTP

SmallCaps Daily July 8, 2021

171 5 minutes read

Sunrise, Florida – (NewMediaWire) – July 08, 2021 – Monaker
Group, Inc. (NASDAQ: MKGI) (NASDAQ:
NXTP), a technology solutions company building a digital business
ecosystem for digital advertisers, consumers, video gamers and travelers, will
begin trading at the opening of the market tomorrow, July 9, 2021, under its
new name, NextPlay Technologies, Inc. and Nasdaq ticker
symbol, NXTP. The new stock CUSIP number will be 65344G102.

The new name follows the earlier announced completed acquisition of HotPlay Enterprise Limited,
provider of in-game, AI-powered advertising technology and online-to-offline
couponing solutions with a hyper-local insertion capability.

The acquisition further
expanded NextPlay’s growing digital ecosystem that now includes AI-powered
AdTech, Digital
Connected TV (with reach to
more than 50 million end-users), travel, gaming, FinTech and cryptocurrency
banking.

Unlike any other solution
available in the market today, NextPlay leverages its powerful digital platform
to connect companies and brands with consumers across multiple interactive media
channels, including Smart TVs, PCs, laptops, tablets, and smartphones.

“Our new name reflects our
evolution from a travel business into an innovative next-generation, global
technology solutions company with proprietary platforms monetizing products and
brands across multiple digital media channels,” stated NextPlay co-CEO, William
Kerby.

“As the result of several
successful strategic acquisitions over the past year, our offerings now include
high-margin, revenue-generating AdTech, Connected TV, and blockchain solutions
capable of reaching global consumers through virtually all connected devices.
We are now focused on leveraging the tremendous synergies among our digital
platforms to take advantage of the vast opportunities for growth and expansion
ahead.”

Current shareholders do not
need to take any action regarding the name or ticker symbol change. The
company’s new website at www.nextplaytechnologies.com is planned for launch by July 12, 2021.

About NextPlay Technologies

NextPlay Technologies, Inc.
(Nasdaq: NXTP) is a technology solutions company offering gaming, in-game
advertising, crypto-banking, connected TV and travel booking services to
consumers and corporations within a growing worldwide digital ecosystem.
NextPlay’s engaging products and services utilize innovative AdTech, Artificial
Intelligence and Fintech solutions to leverage the strengths and channels of
our existing and acquired technologies. For more information about NextPlay
Technologies, visit www.nextplaytechnologies.com and follow us on Twitter @NextPlayTech
and LinkedIn.

Forward-Looking Statements

This press release includes
“forward-looking statements” within the meaning of, and within the safe harbor
provided by the Safe Harbor Provisions of the Private Securities Litigation
Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and
Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking
statements give our current expectations, opinions, belief or forecasts of
future events and performance. A statement identified by the use of
forward-looking words including “will,” “may,” “expects,” “projects,”
“anticipates,” “plans,” “believes,” “estimate,” “should,” and certain of the
other foregoing statements may be deemed forward-looking statements. Although
the Company believes that the expectations reflected in such forward-looking
statements are reasonable, these statements involve risks and uncertainties
that may cause actual future activities and results to be materially different
from those suggested or described in this news release. Factors that may cause
such a difference include risks and uncertainties related to our ability to
complete the acquisition of control of International Financial Enterprise Bank
(IFEB) promptly and on the terms disclosed; our need for additional capital
which may not be available on commercially acceptable terms, if at all, which
raises questions about our ability to continue as a going concern; the fact
that the COVID-19 pandemic has had, and is expected to continue to have, a
significant material adverse impact on the travel industry and our business,
operating results and liquidity; amounts owed to us by third parties which may
not be paid timely, if at all; certain amounts we owe under outstanding indebtedness
which are secured by substantially all of our assets and penalties we may incur
in connection therewith; the fact that we have significant indebtedness, which
could adversely affect our business and financial condition; our revenues and
results of operations being subject to the ability of our distributors and
partners to integrate our alternative lodging rental (ALR) properties with
their websites, and the timing of such integrations; uncertainty and
illiquidity in credit and capital markets which may impair our ability to
obtain credit and financing on acceptable terms and may adversely affect the
financial strength of our business partners; the officers and directors of the
Company have the ability to exercise significant influence over the Company;
stockholders may be diluted significantly through our efforts to obtain
financing, satisfy obligations and complete acquisitions through the issuance
of additional shares of our common or preferred stock; if we are unable to
adapt to changes in technology, our business could be harmed; our business
depends substantially on property owners and managers renewing their listings;
if we do not adequately protect our intellectual property, our ability to
compete could be impaired; our long-term success depends, in part, on our
ability to expand our property owner, manager and traveler bases outside of the
United States and, as a result, our business is susceptible to risks associated
with international operations; unfavorable changes in, or interpretations of,
government regulations or taxation of the evolving ALR, Internet and e-commerce
industries which could harm our operating results; risks associated with the
operations of, the business of, and the regulation of, Longroot and IFEB
(assuming the acquisition is closed); the market in which we participate being
highly competitive, and because of that we may be unable to compete
successfully with our current or future competitors; our potential inability to
adapt to changes in technology, which could harm our business; the volatility
of our stock price; risks associated with dilution to existing shareholders;
the fact that we may be subject to liability for the activities of our property
owners and managers, which could harm our reputation and increase our operating
costs; and that we have incurred significant losses to date and require
additional capital which may not be available on commercially acceptable terms,
if at all. More information about the risks and uncertainties faced by Monaker
are detailed from time to time in Monaker’s periodic reports filed with the
SEC, including its most recent Annual Report on Form 10-K and Quarterly Reports
on Form 10-Q, under the headings “Risk Factors”. These reports are available
at www.sec.gov. Other unknown or unpredictable factors also could have
material adverse effects on the Company’s future results and/or could cause our
actual results and financial condition to differ materially from those
indicated in the forward-looking statements. Investors are cautioned that any
forward-looking statements are not guarantees of future performance and actual
results or developments may differ materially from those projected. The
forward-looking statements in this press release are made only as of the date
hereof. The Company takes no obligation to update or correct its own
forward-looking statements, except as required by law, or those prepared by
third parties that are not paid for by the Company. If we update one or more
forward-looking statements, no inference should be drawn that we will make
additional updates with respect to those or other forward-looking statements.