No, not really. Yeah they lose money for now and they have all kinds of warts as is normal down here in this sector and with these companies (not sure how much you invested or traded down here before) but it is still a real company doing 7 million in sales with a very low share count. Heck it is trading at a 600k market cap. Again, you will always find warts in these companies and a lot of what you posted is simple boiler plate in the filings. Obviously I really liked it at 005 a few days ago but I still like it at 01. But as always everything is possible with these stocks.
I don't know, twitter lost around 500 million in one of their quarters last year and we all know where that trades. Would you call that company a failure?