Jack Vander Aarde: Okay. Excellent. I really appreciate the color. That’s it for me. Thanks.
Michael Crawford: Thanks, Jack.
Operator: Thank you. There are no further questions at this time. I’d like to hand the floor back over to Michael Crawford for any closing remarks.
Michael Crawford: Yeah. Thank you. So just a couple of things in closing, because I do think it’s important for us to recap. Over this last year, a lot of concern about the debt the company has taken on. I can tell you that if you’ve been watching the moves we’ve made, we have not only flattened the debt profile, but we’ve reduced it as well. Now, in some cases, we’ve had to increase it because we were taking on and building more assets, creating more media, creating more dynamic gaming environments. We are still very much in an investment mode. That’s where we are as a company. But we’re in this transition from investing in assets, investing in environments, investing in media to actually monetizing those and operationalizing those.
So I would just reiterate, don’t be concerned about the debt profile. We will continue to work on that. The balance sheet is a focus for ours, but I think we’ve made significant improvements over the last year and I congratulate Ben and his team and others that have worked on this. Financial performance, if you’re not seeing it, you need to be seeing it. We’re growing quarter-over-quarter, year-over-year. And, yes, while EBITDA has increased in terms of its loss, it’s increased because we’re continually investing in the experiences. At some point in time that investment stops and the growth in what the experience represents starts to be able to be monetized. And so the financial performance increases. Don Shula’s is an example. We invested Don Shula’s is an asset that we as a company own.
We invested in that. It’s our asset. Shula’s management group oversees it and they do a phenomenal job. That asset now opening last week is starting to generate meaningful revenue for us, but it also enables us to have special events in there. So indirect events from USFL, from Kevin Hart, from enshrinement, from the list goes on and on. Now that gives us another asset to monetize against. So I expect financial performance has been reiterated. Our guidance to continue to increase and increase in a exponentially significant way. The more assets we open, the more media we create, the more gaming environments. The other key takeaways that I just want to leave the call and those on it with is this concept of ownership mentality. Do not be fooled by the social media rhetoric that’s out there telling you that management is making decisions for selfish gains.
Management is not sold a single share of this company and in fact management is invested its own money, its own cash. Yes, as part of compensation, management is issued shares. But if you look at the S-4s that are filed, you’ll see they’ve deferred cash compensation to take it. Or in my case, I’ve invested my own cash into the company because I believe this company is going to be successful. People don’t make bad decisions just to make a statement. People make good decisions based on the information they have. That’s the information I have and that’s why I make investments into this company. And our board makes the same investments and our largest shareholder and the state and the city and the county have stood behind this company and have helped it grow and have helped it grow in a way where the cost of the growth has been maintained at a very reasonable level versus what other companies have been doing.
We’re not a biotech company. We’re not biopharma. We’re not going out diluting shareholders, raising, sorry, doing a reverse split, doing another raise, diluting shareholders, driving the stock price down, doing another raise. That’s not a cycle we’ve been in and it’s not a cycle we’re going to be in. We have committed to make sure we’re making the right decisions for us as a company and for you as shareholders because we’re shareholders. We are a significant amount of the shareholding percentage of this company. I think partners are seeing this and we’re attracting new different types of partnerships and sponsor partners to come into our company. Synergy is a key. It’s a strategy we’ve articulated. It’s a strategy now that’s starting to bear fruit.
I talked about these things over and over again. You can see how directly hosting events, directly creating media content or gaming environments leads to multiple revenue streams. And we intend to continue to monetize those. And we will. And we have. Exceptional experiences. It starts with what is great. People will come and they will spend and they will do that over and over again when your commitment to quality and excellence is there. It is undeniable when you step on campus, when you see media we’ve created, when you see the gaming environments, the partnerships that we’ve struck in those environments that we are creating excellence, we’re not doing it on the cheap. We’re creating something that has the ability to sustain itself and grow.
And so that’s a big focus of ours. I talked about revenue strategies. I think that there are things that we will continue to evolve and we will continue to refine. We’re an operating company that has transitioned from construction and investment in certain ways into operations and you’re seeing the growth there. But as we grow, we’re making better decisions. We’re focused on cost efficiency, we’re focused on investing dollars, we’re going to get the highest returns, and we’re focused on creating a critical mass where people say, wow, this is an unbelievable amount of opportunity for us to engage with our products where they’re telling stories, where they’re creating gaming environments, where they’re creating physical assets. By the way, we’re not done with creating physical assets.
We are now in the process and we’ve engaged with the master planner. We’ve hired a master planner to do Phase 3. Phase 3 is now literally being planned. And so look for updates on that in months to come. But as I’ve always said, we say what we’re going to do and we do what we’re going to say. This is what we said we were going to do a year ago. We said we were going to take on more debt a year ago. We are doing the plan. We are implementing the plan that we said we were going to implement. The final thing I’ll say is this. We’re committed to long-term shareholder value. We will be dynamic. We will continue to look for short-term execution, but we want investors that understand this strategy and that are committed to helping our company grow.
We realized the reverse stock split, people sold at a discount, as I said, and they left. I think that was the right decision for them. They were not in a company that was going to day by day, make short-term decisions to try and get a blip in a stock price. That is a poor strategy. It’s not one I subscribe to and it’s not one this company has implemented. We’ve implemented a strategy of execution, quality leads to results. That’s what we’ve been focused on. That’s what we’ll continue to be focused on. And I’ll just say thank you for your belief. Thank you for your continued questions and your thoughtful input and response. We’re open to that. We like to be transparent. And I’ll also just say thank you to our team and our shareholders and to our community.
Their belief and their support is what’s gotten us to this point. This team is high quality. This team executes. This team wakes up thinking every day how we’re going to execute a game plan and how we’re going to evolve a game plan that’s going to yield results. The world is in a difficult place. We will and have continued to manage through that. And on the other side, you’re going to start to see a company that has a $40 million, $50 million market cap with $50 million in cash and $450 million of assets, and another $170 million of physical assets being built in the next two years and a media pipeline and a gaming universe that’s very unique and different, leveraging IP that no one else has access to in many instances grow exponentially. We are undervalued.
This company has the potential for exponential growth in the coming months and years and I’m excited about where we’re at, and I look forward to giving you an update around our performance in Q1 in the very near-term. So thank you all. Thanks everybody. I hope you have a good rest of the week and we really appreciate you tuning in this morning. Thank you.
Operator: This concludes today’s conference. You may disconnect your lines at this time. Thank you for your participation.
