I'm not here to gloat, but this is the problem with virtually every micro cap OTC issue - funding. Certainly the current credit situation didn't make it any better, but there is this notion that a "great idea" is all it takes to have a successful company.
It takes money. Money drives marketing and advertising. It drives manufacturing, distribution and sales. It pay salaries for corporate staff. And you need it up front. You can't rely on your "great product" to provide cash while it's being established.
2 aborted launches and heavily discounted convertible debentures meant Skins not only had these issues, but the problems of the past to overcome. I personally never saw the product as an amazing idea, but even if it was, it still needs money.
I don't think it's fair to say they didn't try. They probably tried as best they could given the limited funds they had to operate with.
Hope is great if you're a founder. For an investor, it's often very expensive.
Good luck to all.
Those who cannot learn from history are doomed to repeat it.
GEORGE SANTAYANA
