Page 3 and 4 in this thread is a good place to start as the reports are scrutinised on the much hyped revenue that you mentioned. the TLDR is all that glitters ain't gold here for some very worrying reasons:
https://hotcopper.com.au/threads/steam-puts-the-final-nail-in-the-coffin-for-miggster-games-on-its-platform.6354288/page-3?direction=previousOutside of that, here's a copy+paste of an old post of mine that bullet pointed some things outside of that that barely scratch the surface:
The BBC article and documentary about EM1's biggest revenue source (Miggster, EM1's flagship product is brought up:
https://hotcopper.com.au/threads/unmasking-the-pyramid-kings-crowd-1.5870147/Greg Stevens, the CEO of EM1 appearing on Crowd1 webinars promoting the ponzi aspect of Crowd1 to their victims by claiming Miggster would allow them to earn residual income via Crowd 1, the earlier mentioned ponzi scheme.
The misleading announcements about Miggster subscriber number and banked revenue that obfuscate facts.
The 8 queries from the ASX demanding EM1 explain the inconsistencies in their claimed figures, revenue, partnerships and purposely vague disclosures.
Greg Steven promoting a NFT/crypto game for Crowd1 that he later told the ASX will not materially affect EM1's financials and isn't even being made by them when queried by the ASX(most recectly):
https://hotcopper.com.au/threads/ann-response-to-asx-query.6411173/Falsely misrepresenting the Microsoft ISV program as evidence that they're direct partners with Microsoft and not just like any of the hundreds of thousands of dev's in the ISV program who simply pay a fee to Microsoft to access dev tools:
https://hotcopper.com.au/threads/ann-emerge-becomes-a-microsoft-isv-partner.5634911/?get_post=trueFalsely claiming they have a AAA game library until the ASX query established they just have a collection of demo's on a server somewhere with no license agreements in place:
https://hotcopper.com.au/threads/ann-response-to-asx-query.6204020/The big bait and switch with Miggster where they used video footage of real AAA games prior to the launch only to roll out free HTML5 games that are 15+ years old (Look at every promotion about Miggster until October 2020 with the unauthorised and unlicensed usage of established properties and branding that evaporated upon launch).
There's anything to do with their baseless, unsubstantiated and unproved promises that they were going to be the first to market in 5G AAA game streaming only for the rest of the industry to leave the behind while not even delivering anything tangible.
I can keep going as there's a lot more I can go on about like NickX, MTN Arena, Rob Hersov, Viacom Africa, the fees to Vection.....most of that is in the past 12 months alone. I and others have raised a lot of these points since we started doing proper due dillidence on what this company was up to (as anyone should do before we part ways with money, otherwise we'd be no better than a punter at a casino). We directly questioned a lot of things the company touts that doesn't cut the mustard.
This isn't anything new. And quite frankly the ASX queries further reinforced mine and others views that this entire company is something to behold for all the wrong reasons.
(20min delay)