“ Lack of users and revenues” —- it’s a new application, of course lacking, as I mentioned, and you, they are using shareholders to do all this, which means shareholders likely pushed for an app because they bought in 3 years ago and deserve a pay off now, despite where the program is.
At least I think, from watching the board comments...
“Awful user interface and lots of errors with the app” —- being pushed out so soon, yea it needs way more work, however that does’t make the company a scam... it means they did what shareholders wanted, showed them a product, and it was the bare bones (I hope) lol. So if they need to sell shares to keep this product growing the right direction, well isn’t that the point of a company supported by shareholders?
“A licensing agreement that takes advantage of common shareholders.” —- please see above
“No clear path of being able to eschew convertible debt as a primary source of financing cash burn” — I’m not quite clear what cash burn is, but if it wasn’t a typing error I think you mean cash they have to burn through to get to where they need to be? Isn’t that the point of going public, to share the burden? The better the price is, the better terms they can get to complete their goals.
“Press releases that are never followed by any notable developments.”—- share holders are pretty demands at times, PR’s cost money and are usually to appease the investors. They share because they know shareholders demand it, just like how they always demand more info immediately after. Some company’s don’t say anything and let the market do it while they plug on, depending on how big the challenges the company faces in their industry it can sink them though...
“$2 million in shares given for what appears to be nothing more than stock promotion.” — being a public company, and having to ask the public for help to attain their goals, can be kinda risky. Companies trying to plug ahead and get the financing it needs.
But that appears to be all the “complaints” you listed, these are, of course, my own thoughts.
