Even when it was brand new, "The App" was a sub-par music player with effectively no users and never had any chance of making money.
It's obvious that "The App" was developed for under $100,000 by an offshore development firm. It's the kind of software that an enthusiastic programmer could build in under a month.
This is why there's literally dozens of far superior music players available for free in the app stores: because dozens of enthusiastic developers have indeed written a large number of music players as passion projects.
I have no idea what work shareholders think should be done on "The App", but they all seem to blindly believe that it contains technology which defies the laws of physics. Since the vast majority of people are not invested in MAXD, they're less inclined to fall for these ridiculous claims.