I understand your frustration, but you can't make a blanket statement like "This company was set up for one purpose - ripping off investors." If that was the case they'd be going to jail.
It was a company, with a product. The product development was slower than expected (still doesn't work great), sales came slower than expected (still not there), etc. It's common in small companies...that's why so many go under. At some point they needed cash, borrowed from guys that we hate, and the move from "normal company" to "desperate company" was complete.
Market Cap on this mess is something like 2.5m. They can only borrow so much. To me the questions are (1) are they borrowing new money under this model, and (2) do they have (or will they soon have) a product that people will buy? I don't know the answers to those...hence the term "speculator." I just hate it for the folks that bought it not knowing that the products were suspect and the borrowing was going to get ugly. At least now we know.
