I mean there's several things that aren't right... It's laid out pretty well in the financials and out for viewing on the website. According to the financials, we aren't finished diluting yet - capitol is still needed and Carey, at the last quarter anyway, wasn't expecting to break even yet. I think it's safe to assume he hasn't. Let's get real - breaking even on an internet based company is insanely hard. Look at Am-zon. So problem 1 - dilution.
Problem 2 - also in the financials - we're losing more money every quarter. 1 Billion in sales isn't good if it cost 2 billion. They need to reverse that trend sometime soon if we want the bad debt to go away.
Problem 3 - The website has a lot of broken links and generally the poorest video/audio quality I've seen since dial up. I don't even know HOW you buy equipment that films that poorly anymore. If your business model is to allow people to watch audio and visual based performances, your medium to provide that service better be good quality. Theirs sucks. We all know that too. It needs to change immediately. The market in this country for SD TV barely exists - same goes for gander.
Problem 4 - No one knows how many shares there are. Kind of hard to value a company without knowing the share structure. Carey gagged the TA - so the only time we'll find out how many shares are being dumped is at the end of the quarter.
Problem 5 - From a purely valuation standpoint and assuming 0 dilution since last quarter (not likely) - we're sitting at a market cap of 2.6M at the current price. Frankly, that's probably even a little high for an unproven company loosing 500K a quarter, ~6M in debt, and since inception sales of under 1M.
