Sorry mate I only just saw your tag... thought I'd check in out...

Sorry mate I only just saw your tag... thought I'd check in out of curiosity to see if there were still users here.

I stopped following this stock and haven't read any of their updates for a while now.

If one of the revenue models was created from CPM ads or CPC, then you want to get in front of as many people as possible... this is where the 5-10-whatever million users come into play. Even on a subscription based revenue model, you'd still want to get in front of the maximum amount of users, as generally there is a only a fraction percentage of users that will subscribe to a service.

However, last I read (a while back now), they didn't have this revenue model and are not advertising. Are they even selling merch at least? Or sponsored ad spots? If you have a targeted audience in the tens of millions, then you could be generating a lot of revenue just from sponsored ads. I could literally make a million dollars in one EDM (email blast) selling a single product (ie, soccer ball with SportsHero logo printed on it) if I had access to that many targeted users.

Therefore I just don't think these guys actually do have the amount of users they've reported. I also remember emailing them last year about it which went unanswered. Also the "users" they report don't anywhere near match up to the global downloaded app figures. Have they been audited yet to verify they are even telling the truth on their user numbers?

Throw in all those dodgy people they were doing "deals" with (ie. Sportclips who is literally a ghost company run by a guy whose had to close down multiple companies in the past - I remember doing the research), and there are enough red flags to know this Company is a dud.

But again, I haven't read any of their recent updates - so maybe some of the above has changed? Share price crashing so I'm assuming not?

All IMO from my own digging and research.