It's just when I examine IWEB's 10-Q's and 10-K's, these financials filings from IWEB paint a picture with financial results headed clearly in the wrong direction. For example, 2012 financial results were worse in a lot of different metrics versus 2011 results. , i.e., slightly lower to flat revenue growth in 2012 versus 2011.
2011 Revenues $2,678,346
2012 Revenues $2,640,520
And while the company did marginally lower total operating expenses in 2012 versus 2011, IWEB still posted record net losses.
2011 Total Operating Expenses $5,221,078
2012 Total Operating Expenses $5,086,545
2011 Net Loss $(4,705,291)
2012 Net Loss $(6,485,048)
With net losses of $6,485,048 for the year, this gives us a cash burn rate of $540,420 per month,
$6,485,048 divided by 12 months = $540.420 net losses per month.
And meanwhile, Shareholder deficits keep getting deeper.
2011 Shareholder Accumulated Deficit $(34,328,080)
2012 Shareholder Accumulated Deficit $(40,813,128)
It is my opinion that IWEB business model is broken financially.
