A supplier to CDPC, its gaming software and games distributor, is pursuing PCG for an unpaid debt of US$2.1mln from before PCG bought the company, and Bryant says it had a written agreement that relieved it of any obligations in connection with the debt.
In addition, CDPC is being withheld US$1.2mln in a separate dispute with a major customer, but Bryant says the firm is “very well covered on this”.
He adds Proactive Investors: “We remain confident that both issues will be resolved within the very near future”.
Despite the debt issues, Bryant remains focused on the company’s expansion in China, noting “we still think there are tremendous opportunities out there and we are going to pursue them with as much determination as we can”.
#PCGE unequivocal 're debt assignment letter which means they are legally on high ground. In which they believe a resolve will be negotiated— Doc Holiday (@DDS_DocHoliday) June 6, 2016
Catch PCGE's CEO Nick Bryant on @SharePickers - find out why he's feeling bullish.. (around 35:00 in on Podcast 437) https://t.co/3nVSnSn2dV— PCG Entertainment (@PCGEntplc) March 21, 2016
Popular e-sports have put China at the peak of a booming global markethttps://t.co/pGY2rOi8zq— PCG Entertainment (@PCGEntplc) March 14, 2016
“@al_buncombe: Ready for morning warm up #Sandown500 @v8supercars @Nissan_MSport #RaceDay pic.twitter.com/nX4QWORVev” cj— PCG Entertainment (@PCGEntplc) September 14, 2014