This is the one area where I feel the CEO was wrong when he said we're going to blow through those numbers. Referring to the 20k subscriber contest. Telling everyone they were dieting and picking out their Hawaiian shirts. nFusz was nowhere close to signing up 20k subscribers unless 15k of them were signing up for a free 90 day trial.
That talk was a little misleading in my opinion.
A little misleading? OMG, $8,000 in revenue.
Rory gave the impression that the technology was being adopted. I'm sure that many bought due to this and they lost a boat load of money.
I wonder if the SEC will come after Rory. I think there will be a class action lawsuit and that the news releases from law firms seeking a lead plaintiff will hit the wires soon.
20,000 subscribers at the cheapest rate would equate to -
20,000 X $10 for March = $200,000
20,000 X $20 sign-up fee = $400,000
Instead of $600,000 of revenue for the quarter, Rory delivered $8,000.
This is the most flagrant misrepresentation of what was really happening inside a company that I have ever seen!