He could go at this speed for another year and turn around 4th Q 2023 and buy 25-40% of this company back. Then destroy those shares. Doing so allows him to gain a larger stranglehold over the ownership for himself without diluting the SP and also increases his own wealth significantly as now his shares are worth that much more. If as was suggested by Upper, the end goal is to sell… and it kind of has to be because he’s not paying himself nearly enough… then this audit and crushing the share price because of no PR’s played right into his hands. And it’s not rocket science. Like he sees this too. The only reason this wouldn’t happen is if this was all a scam (which it’s not) or he plans to run this for 30 years and pay himself $500k+ in salary a year. But he will be richer faster and able to move onto the next venture if he sets himself up to get rich by selling. And he alluded to a share buy back or some sort of lowering of the float on Twitter 5 weeks ago. This is what I’m seeing at least.
Someone else pointed out how focused he is on the accreditations. Those have value beyond any revenue figures. If you can sell accreditations and certifications without debt, that’s huge. I have a friend who works in legal sports gambling space and his casino employer is basically not giving any F’s. He’s frustrated. I said they should market this way or that way. He said they don’t care. They got a license. The license is worth more than anything else. They just need to maintain it until someone wants to buy it. Zero reason to try to compete with MGM or Foxbet for a bigger piece of the daily risk pie. And take on debt acquiring customers. Everyone’s license worth exactly the same. Food for thought.
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