The answer to the question is NO. And... the more ridculous part of this brilliant plan was to only use 70% of the S1 raise for MyFlix. So no, they could never properly launch something like MyFlix for 5.6M. All of this is pure fantasy. The CEO has effed his longtime shareholders for one decade and is now shooting for two.
after all these funding rounds that are mentioned, will they have enough to finally launch?
FYI - Original launch date for this video service was SUMMER 2012. (that is not a typo)