On October 24, 2022, Adam Arviv announced that he released an open letter to the shareholders of Real Luck Group Ltd and expressed his major concerns with the Company's business plan and are convinced that the company is on a path to bankruptcy. Adam Arviv stated that he has concerned that the Company's management and the Board of Directors are not fulfilling their fiduciary duty to act in the best interest of shareholders and stated that he does not believe that the shareholders have been given all the facts and based on the Company's recent interim financial statements. Adam Arviv stated that he sent a proposal to its Board of Directors more than six weeks ago to review strategic alternatives for the company which has been ignored.

In addition, Adam Arviv expressed that the only other feasible option for the Company is to immediately wind down all operations and engage in a sale process of the Company, returning all-cash to investors to avoid incremental value destruction.