may as well go through the response and pickup on some of the wording subtleties - but before doing so, note that the response was the last price sensitive announcement that hit the ASX MAP yesterday (read into that what you will)
as stated by other posters, it's not the ASX's job to question the validity of a company's operations, the ASX simply want to ensure the market is trading on a fully informed basis.. if anyone wants to have a look into the validity and legality of what the company and it's directors are doing, that would be done by ASIC.. unfortunately shareholders won't find out about any ASIC action until the endgame (pun intended)
another quick point to note - GS jumping on C1 videos and making grandiose statements should always be taken with a large grain of salt, and accompany with the questions of either:
1. why is this being announced via Youtube and not a market release?
2. is this really as good as it sounds?
I think the answer to those questions is provided by the ASX response - there's actually nothing of substance behind the Youtube marketing promotional fluff, none of it is material to EM1 or will materially benefit shareholders
I thought the concept of Miggster Plus had been around a lot longer, but could be mistaken..?
This acknowledges that Miggster Plus (whatever that is), will also be divested. Something that only takes a few months to create, by an admitted small R&D team, will
not under any circumstances sell for much. No one in business will ever pay over the odds for something that they themselves can create in months.. there is nothing proprietary about the Miggster Platform, or Miggster Plus - they can both be replicated by anyone interested in doing so
This is my faveourite one, which needs to be read carefully. All this states is that Gamecloud will be
ready for integrating this quarter. Not that it
will be integrated, just that it is ready for the integration process to commence. Which in true EM1 fashion I expect will take another eternity to complete. All this statement can be relied upon for, is that EM1 will be making the $200k (lol) payment to Cloudzen
So EM1 will be a price taker in the negotiations? Can't even offer any sort of insight into what the structure
might look like (ballparks)? Why is the pricing structure even relevant when it is intended that Miggster Plus will be divested?
This is at best a really lazy answer, or at worst deeply concerning if EM1 don't even know whether Miggster Plus would fall under the existing agreement that is in place. EM1 should know it's contractual position and where the boundaries of the existing agreements end. How happy would shareholders be if all EM1 gets for new users of Miggster Plus is the measly 39c? This is entirely possible under the response provided.
This is telling. The new product being developed which is being sung from the rooftops isn't even guaranteed to have a material impact on EM1.. so all of the Netflix of Gaming and AAA games!!! screaming by holders has been in vain.
If it was expected to be material, the response would have stated as such, but qualified it by saying it's only the value that cannot be determined (i.e. no matter what the value is, it will be material). The announcement has not said that. Which shoots any of the ridiculous valuations being thrown around (and also backs up my earlier comments, no one is going to pay stupid money for something that cost a few hundred thousands dollars to develop).
Parking this for now and will come back to it..
Bundled into a package by ICT / Crowd1 - not EM1. Also of note, this indirectly acknowledges that free HTML games may not be enough to keep suckers, sorry subscribers, interested
I think this makes it all clear - EM1 won't make any money from the NFTs. The NFT aspect of the whole thing is a deal between ICT/Crowd1 and Rocket Dog. It's simply included as an aspect of the Miggster Platform - for which EM1 receives 39c per new subscriber. So unless the NFT aspect causes subscriber numbers to shoot to the moon, EM1 will receive nothing as a result of it all.
I'm not going to bother addressing the other aspects of content creators etc - that's all the same as the NFT in that EM1 gets nothing from it all (but should make a shareholder question why EM1's CEO is in the videos promoting it all - unless he's also an employee of ICT/Crowd1 and simply wearing a different hat at the time?)
One last LOL included by EM1 for good measure..
The market has judged the quality of the response..
(20min delay)