Jwez, lots of reasons. Check how long it took for the number of OS to accumulate. Almost overnight. Huge issues of devastating dilution. Absolutely little to no confidence in management because of promises that don't get fulfilled on a timely basis. Announcements on contracts that get made public without $ amounts, like "phantom" contracts. There is revenue, but really no revenue? Do we know if ad insertion really works and is attractive to advertisers? On and on it goes.
I believe all of the above, but I am not the average investor who just showed up. Tivus has to clean up it's crap and get even with it's pr before it goes north. I believe they can, but shorts are playing a dangerous game here, and more than a few have been short of money after playing with this company. GLTA. R3