Jvoigt2010 you need to go read the earning report of the last couple years at the very least along with all the sec filings and offerings of convertibles. The problem isn't that they don't have a product or a market for the future. The problem is their setup and the way they raise funding as well as their spending dose not line up with a real company that's really operating a business.
Ask yourself if you were to start a business, and you're doing well generating 6.5 million in revenue. But, would you go out and spend 45 million? Yet again plainly stated in Q1 2016 earnings report that a net lost of 10.5 million and stated that spending for year will likely remain flat. What is that telling you? They spent over 10 million in first three month of the year. Best they can do is 10 million revenue this year. Don't play with fire if you don't understand it. If they cut spending down to 10 million a year it be more believable. 6.5 revenue with 10 million spending can be justified for a developing company.