Rory gave the impression that the technology was being adopted. I'm sure that many bought due to this and they lost a boat load of money.
I wonder if the SEC will come after Rory. I think there will be a class action lawsuit and that the news releases from law firms seeking a lead plaintiff will hit the wires soon.
20,000 subscribers at the cheapest rate would equate to -
20,000 X $10 for March = $200,000
20,000 X $20 sign-up fee = $400,000
Instead of $600,000 of revenue for the quarter, Rory delivered $8,000.
This is the most flagrant misrepresentation of what was really happening inside a company that I have ever seen!