Ann: Appendix 4C - quarterly, page-6

I have been a little busy today with other commitments so haven't still had a chance to really divulge it all however in a way a response to the first comment as I think they were a little hasty with the comment and didn't look at the background and took the 20k as a full qtr revenue (which in a way it is).

One thing i think people are missing is the wallet wasn't released until 7th February but at the time there was no need to spend money become a VIP + hasn't been really advertised or been a real push for it.

The SS then finished mid march if I recall correctly this is when they started adding cash reward tournaments (if i am recalling correctly). Since this is a Qtr report the majority (if not all) likely came from either just March or even half of March. Even if you said all March it is 60k for the next 3 months still not profit territory but in the correct direction. If 20k came in say the last two weeks then it could be doing over 100k per qtr and this is just the starting up period.

I think we all know a CR is coming however myself personally i would participate in it, as one they are making the right moves and in a way it will likely be different in 12 months time with alot more revenue, sponsorship, exclusive deals plus users which creates even more demand from word of month but also ability to market it. Remember there have also been three partnerships with some major esport clubs here in OCE which are going to bring users to Mogul but also share revenue (not currently included) as more and more partners come on board in a way it reduces Mogul's overheads as they are the ones organising the event and the admins are more to support them if there is an issue with the tournament (which btw is automated along with tried and tested). Plus we can also bring users to them either actively (cost to email our 1.5M+ users) or passively from seeing the tournament on the website.

You might not think sending an email is going to bring in revenue all that much but we have verified games these users are playing along with country they are from - so there is many ways to get a really targeted email including having emails sent to a competitors game - oh hey Fortnite users here is the latest game from EA called Apex Legends and on offer is a tournament (single, multiple or month long) which is free to attend and win prizes. Obviously i think the fortnite players would of heard of Apex but we dont know what the 'next' game is yet but there is no way Epic Games would provide their mailing list to EA to take their players away...