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Thursday, January 22, 2015 6:23:35 PM
Wendell,
Here is what happened.
Basically, we entered into agreements with the Internet stars Cameron and Nash. Based on their traffic estimates and promises for promotion, we invested over $250,000 to fund new applications and capacity to scale. They completely reneged on their agreements which meant that we had the costs without the revenue.
Without results, the share price dropped and with low price and no liquidity the funding tried up.
Sad story. We are all out a ton.
Chris
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