The reason the price is not going up is very simple: the company has not yet shown in their filings that they are bringing in any money. Once we get a couple of 10-Qs under our belt that shows people are paying to use the site and corporations are paying for sponsorships, then you'll see the price move.
All the news about advisory boards and partnerships is great and will be beneficial in the long-term. But it doesn't do anything for the PPS right now because to date all we've had is free tournaments and haven't yet seen the revenue numbers.
I believe the next Q is due out on 8/15 so it'll probably continue to trade this way at least until then.