No one really understands where the sales are coming from and...

No one really understands where the sales are coming from and without that detail you can’t be certain what you are investing in.

Off the top of my head, several unrelated VR industries I’ve seen throughout their presentations: IOT, AI, Cyber Security, Sports and Betting, Machinery, Servicing Hardware.

The company without the acquisitions would’ve been much more easier to analyze and assess their progress in this new trendy industry. It’s even more difficult to analyze revenue when companies are repetitively acquired each financial year and added onto the balance sheet. Unaudited financials isn’t worth the paper printed on.

With acquisitions, you should always apply some guiding principles to understand why it was made in the first place.

1. Is there IP or a skill-set they are trying to obtain?
2. Are there synergies?
3. Are there efficiencies that reduce operational expenditure? ie. cutting staff.
4. Is there a dependency on them to reach a target or goal ie. joint venture?
5. Are there clients that they have that they want? (granted, the most feasible explanation that I can't rule out among others)

I see zero connection between Blank Canvas Studios and JMC and researching the companies independently I struggle to see the appeal management sees in order to expand their global VR footprint.

All not is lost, because this is what investor presentations are for and for the long term holders who have attended these:

Q1. Has there been any update on the acquisitions and how they are now aligned under new company management to reach their strategic objectives?

Q2. Has there been questions related to particular board member of concern that has been raised here. If not, why not and if yes, what is the reason they are still part of this company?

What can only be the start to save this ship is getting rid of the baggage weighing it down.

Lather, rinse and repeat. If in eyes, wash out thoroughly…