This post is not financial advice. You should seek your own...

This post is not financial advice. You should seek your own independent financial advice and do your own research.

With that out of the way, I love how all of this is forward looking language that uses the dumbest "I'm trying to sound smart" vernacular. Anyway let's debunk some of the steaming trash they spouted in this announcement.

TLDR: this presentation screams placation until the next inevitable delay of the cloud streaming product.

"eSports and Gaming are nascent high growth industries". Nascent here meaning new, or still fledgling. No. Of the 7.8 billion people on the planet last year, 2.8 billion were gamers. That's 4 in every 10 people. That's a lot of people.

"Over 90% of the global market are casual gamers starved of high quality, engaging content due to common barriers like large downloads, high costs & additional hardware requirements". With what evidence? Is a phone an additional hardware requirement? Is the cost of <$10 or free but with ads too high? They say their source is "Newzoo" but they don't provide any ISBNs of studies or links.

"More game developers equals more games". Wow. Stunning insight here. But what if a developer just grows the size of its team instead?

"PWA Accessibility" What in the flipping heck is PWA? If they mean a progressive website well congrats, you built a website?

"Non traditional marketing" We all know what this means...

They are a Microsoft ISV partner but list AWS as their autoscaler.

They're still using that dumb B2C wording, as though it's somehow revolutionary they'll be selling their product directly to customers (not like Stadia or Xbox Game Pass does this already, right?)

"Global Direct Sales Representatives" and "The World Federation of Direct Selling" - you can see this red flag from a mile away.

"Emerge earnings reduce as volume increases" usually not what you want to hear as an investor, but a great way to cover your bases to pump your numbers up.

To top it off they use the literal words "ICT Agreement" and "Miggster" in the presentation.

"Our products: game streaming" the same game streaming they have consistently not delivered for over a year now?

"Social network with fellow gamers" yes hi hello have you heard of **/Twitter/Twitch/Reddit/Steam/Youtube? This is not a headline feature.

"MS Azure edge computing for Game Cloud Streaming" but earlier they listed AWS. Which is it?

I see a Twitch logo, a League of Legends logo, HotS, HearthStone. I can count on zero fingers how many of those uses are approved / consented. Wonder what Twitch would have to say about their logo being in this presentation?

"Marketing Partners assume Marketing Success Risk" yes a non-zero risk of succeeding is just too high for me sir.

"Em1 uses retained margin to pay cost of prizes and operation" and yet "ICT pays for marketing and prizes". So uh... which is it?

"Products are uniquely differentiated from global social gaming competitors" but fail to say what those differentiators are. I guess not ever coming to fruition is a differentiating feature?

"explosive global industry growth" ok but where/how/why/with what evidence? It's already huge? Did we not just establish that 4/10 people worldwide are gamers?

"Strong business newsflow" are they referring to the carrot of game streaming they've been promising for years and just never delivered on?

They pushed the game streaming back to Dec 2021 now. They're allegedly going to launch in the USA 2 months later. AU in Jul 2022.

And finally:

No representation or warranty, express or implied, is made in relation to the fairness, accuracy or completeness of the information, opinions and conclusions expressed in the course of this presentation. To the maximum extent permitted by law, no representation, warranty or undertaking, express or implied, is made and, no responsibility or liability is accepted by the Company or any of its officers, employees, agents or consultant or any other person as to the adequacy, accuracy, completeness or reasonableness of the information in this presentation. To the maximum extent permitted by law, no responsibility for any errors or omissions from this presentation whether arising out of negligence or otherwise is accepted.