I don't see any reason to doubt Khal but I do agree that the ad spending to distribute towards LEO stakers is a long time waiting. It was mentioned a long while ago and I am also think it's a bit too long.
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Or maybe just the ad revenue is so embarrassingly small that he doesn't want to share yet.
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It's been over a year so I think the amount generated should be at least big enough now. I know that they can definitely improve the ad placement but I don't think there would be any issues on the site itself.
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I keep thinking of how many views you need on as a blogger to even start earning a dollar and think that we aren't there yet.
Buy maybe 500 daily users brings on more views than I can imagine.