A lot to unpack, but I'll keep it brief as it's not really worth it as it's been apparent for a long time they will never earn meaningful revenue, let alone turn a profit as a company.
AAA app: 4 months in, 7m 'impressions'
Olabolah: 1.5m followers on ticktok, 15m views on their top post, 63.6m likes on the olabolah 'page' (whatever that means... instagram? facebook? twitter?)
3x "deals": TALON Esports, Shanghai Fumin Sports, Wuhan Monster Tech.
Total quarterly revenue: $2,000
That's cumulative, between all apps, deals, promotions, sponsorships, sales and subscriptions.Why aren't they releasing
subscriber numbers or even a more basic metric,
downloads, when it comes to the app? Very deceptive to not include these important numbers (more importantly to brag about 7m views, implying it's a success), even though anyone with a clue can work it out from the financial report.
I think it would be fair to account 20% of the quarterly revenue to the app subscriptions (the other 80% can be split up with all the other deals, projects, apps, competitions they have going on). That's $400 in 4 months in subscriptions. At $20/subscription (from memory), that's
20 paying subscribers to their app in 4 months which has had 7 million impressions... An accountant fresh out of Uni could tell you the numbers don't work.
By the way, they've copy/pasted the same thing since the beginning of the year - explaining to the ASX that Q1, then Q2 and now Q3 will generate meaningful revenue.
They will
not be generating meaningful revenues in the next quarter. It's all there in the numbers.
I don't know how the asx let's these types of companies operate. It's a company based on cap raises, while releasing fluff announcements. And the announcements are intentionally so vague, leaving out key information while shilling the stock with impertinent data (such as the "7m impressions" as explained above).
PS. I cannot find any OlahBola 'page' with 63.6m likes. How convenient that the 'OlahBola page' is not disclosed in the announcement.
Not financial advice, all IMO only and DYOR. You'd think this dumpster fire would burn out, but it's staying alight somehow... GL to anyone holding still.
