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  "docSlug": "86dfa89096f8",
  "documentTitle": "Momo, Inc. (MOMO)",
  "authorId": "54_Spruce_Point_Capital",
  "authorName": "Ben Axler",
  "documentKindSlug": "activist-deck",
  "documentKindLabel": "Activist deck",
  "sourceTypeSlug": "short_seller",
  "sourceTypeLabel": "Short seller",
  "presentationDate": "2018-06-27 00:00:00",
  "orientation": "landscape",
  "aspectRatio": 1.3333334,
  "pageNumber": 32,
  "pageCount": 70,
  "prevPage": 31,
  "nextPage": 33,
  "slideType": "expose_contradiction",
  "function": "expose_contradiction",
  "density": "dense",
  "nDataPoints": 0,
  "notes": "Includes a red circle annotation highlighting the connection between Wuxi Jianguo and Wuxi Yilumi.",
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  "slideHref": "/slides/019dd923-622c-750b-8b98-72ad4dd9da96/32",
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  "components": [
    {
      "bbox": null,
      "kind": "callout",
      "text": "We believe Momo owned entities may own Illuminar Interactive International Inc. based on the above chain of ownership.",
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      "kind": "legend",
      "text": "Red circle highlighting Wuxi Jianguo and Wuxi Yilumi connection",
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      "kind": "list",
      "text": "Wuxi Yilumi Technology Co, a Momo VIE owned company, is registered as the owner of the URL www.pokermaster.com as of March 2018, and has the Chinese internet content publishing license for the site (license)",
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      "kind": "paragraph",
      "text": "We believe Momo owned entities may own Illuminar Interactive International Inc. based on the above chain of ownership. We also know that Illuminar claims to own the website (Source) and the app (Source)",
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      "kind": "paragraph",
      "text": "Since the CCTV expose in China on April 15, 2018, the Pokermaster app is no longer available in China or on the Apple store outside China. You can still download the app from the Google store outside of China (Source)",
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      "kind": "table",
      "text": "Pokermaster Corporate Ownership Structure table",
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      "kind": "title",
      "text": "Red Flag 4: MOMO's Investment In An Illegal Gambling Enterprise (Cont'd)",
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      "evidence": "Slides 7-69 systematically expose contradictions and red flags in Momo's business, including undisclosed charges, complex VIE structure, and regulatory risks.",
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