This is one of the most misleading threads on the EM1 forum to date. Congratulations on your achievement!
Anyway, on to the debunking...
eSports is a massive and growing industry worldwide. For those not familiar with this new industry, imagine you are watching a soccer game, but instead of soccer, you are watching competitive video games like Counterstrike, Call of Duty, Fortnite, etc.
This is a totally different industry to what Emerge is targeting. Emerge doesn't have any eSports-like streaming. Its long promised, never delivered, AAA cloud game streaming isn't even eSports. It's just XaaS (in this case Games as a Service). Its other platform, ArcadeX (and by association/white label MTN Arena and Miggster) is HTML 5 games that you can get for free on other sites, hooked up to leaderboards that you can cheat on, all so you can win tickets to enter raffles for a prize. This is not eSports. It's gambling masquerading as a game of skill.
The main issue, and opportunity, right now is there is no standardisation of platform, tournament style, etc. The industry needs to figure out how things will be run going forward.
Are you aware of how ignorant this makes you look? This is really describing ESH, not EM1 (watch me get jumped on for mentioning the dreaded 'competitor'). Again, Emerge isn't trying to standardise tournament formats or platforms, integrate with any APIs, or actually further the eSports landscape at all. They're merely promising Games as a Service. You yourself even called it a 'social gaming platform', not an eSports platform....
The company is also developing a mobile social gaming platform called Miggster, which has achieved over 6m pre-registrations as of 28 October 2020.
Woefully old news and written in the present tense. And also not pre-registrations, just registrations of interest. Not at all the same thing. But you fail to declare that was misleading language by Emerge. And no verifiable way to check those were all humans.
Miggster achieved over 100,000 paying subscribers with an approximate 76% of those paying subscribers opting for an annual subscription.
Given the number above, to just nonchalantly reference such a tiny figure is astounding. Where are the objective comments on what a small number this is? What happened to those 6M preregistrations? What happens when that 76% (and whoever else didn't renew) evaporates on the next 4C (since EM1 decided to report it all as a single quarter's revenue, instead of apportioning it)? ARR is great when it's a lot and it's continuing. But it's not going to be there on the next 4C. So how many of the "over 100k" *are still paying*? All EM1 has said is that engagement is below 30%. That could have been the engagement in December. We don't know what it is right now!!
We thought that the concerns were likely overblown and fortunately for both Emerge, investors and our readers, they were overblown as proven by the company’s most recent announcement statistics.
How are concerns that a company is intentionally misleading the market proven wrong when all you get is 100K subscribers, when you supposedly had 6M (I am fairly certain the end figure was higher) preregistrations? And when engagement is below 30%? Getting some subscribers doesn't absolve you of activities worthy of delisting. That means, at most, *less than half a percent* of those preregistrations actually played a game on the platform. That's absolutely dismal.
However, we do know that, as of 22 January 2021, the company had revenues of at least $9m with a strong positive trajectory.
Somebody enlighten me, but when on earth has a single quarter of revenue ever been considered a trajectory? Especially when the company lumped all of its ARR into a single quarter? That's like saying I ate an apple a day last week, so my trajectory of eating apples is strong, and it looks like I'll be wolfing down apples for the other 3 weeks of the month. What if I just stopped eating apples this week? It makes literally no sense outside of using forward-looking language to try and drive a pump on the stock.
This article is bad and whoever wrote it should feel bad, or at least have the courtesy to do some research on the company they're writing about. It's a yikes from me.
(20min delay)