Ann: Half Yearly Report and Accounts, page-20

And will was right, just like the AFR and The Market Herald article/s stated Muggster has a lot of hallmarks of a money laundering operation.

Muggster comes off like a layering operation for Crowd1 ponzi packs (which are bundled with discount Muggster subs by default even if the scam victim doesn't want it) as a portion of that funding flows through the EM1 coffers and is then redistributed to Crowd1.

Crowd1 is a certified ponzi scheme as over 20 countries around the world have stated (including the US, parts of the EU and New Zealand). And according to EM1 via Hot Copper's own news publication:
https://themarketherald.com.au/the-board-of-emerge-gaming-asxem1-admits-to-not-knowing-the-motivations-of-its-150000-subscribers-2021-03-10/