Downloads don't create revenue. 100 million people could download the iPoint app and it wouldn't generate a cent. As of now there is no content to purchase. Super Bowl comes, a few people download the app, realize there is no content and delete the app. Simple as that.
If there actually is a licensing deal with Vivicast, then where are the stations in the app? More importantly how exactly can SWRF or any affiliated Ortiz venture pay for this licensing? Is Vivicast handing millions of dollars in licensed content for free to two guys at a company that is millions of dollars in the hole?
They did a great job with the apps. They work and I congratulate them on that. But also keep in mind that individuals with no seed money can create apps just as easily. My favorite streaming app (StreamToMe) was made by a college kid. He never had to issue stock to create it and it blows away the iPoint app in functionality. He even generates a decent revenue from it.
So, is this a legit business or just a complex cover for a stock manipulation? Honestly, I think it is a load of BS being thrown at non-tech savvy people to get them to keep investing. The apps are worthless right now and I sincerely believe that the "content is coming" line is yet another carrot to dangle in front of foolish investors.
Caveat Emptor. You're being played.
SWRF
AI
