Of course they were less than stellar if you gloss over what the money for losses was spent on and where it came from. The old adage is still true, you have to spend money to make money.
The cash flow for the year was only negative by 60k or so. Most of the losses were spent on marketing website development or were non cash losses counted as losses for issued options and warrants which have the potential to bring future cash.
The existing business revenues are growing and will continue to support the company as they build out the new platform. Changes and updates are happening everyday. They already announced partnerships with one of the biggest data suppliers in the industry. WHI
They also are integrating the two largest multi-channel listing services into the platform Suredone was already announced and Channel Advisor should be announced soon as they are cosponsoring a truck in a race towards the end of the month.
Revenues will improve, margins will improve and the capital from the up list will start turning those losses into profits.
If they raise the full 28M they will be debt free and have plenty to market the new platform as well as finish the initial development with millions left over for future capital expenditures.
If you don't think they will succeed that is fine, but this is far from a share selling scam and if they do fail it won't be from lack of trying.
I get it! It's not for everyone.
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