I don't know how they could be out of cash since they did about a $500,000 raise the first time around, and then when they took this down to .000x, they made how much more.
Probably because they sold to their nominees at .00001 and spent the money on things like their own bank accounts instead of the company.
The problem is that their website looks like a joke, there is no indication of a real $1,000,000 recording contract, and they just placed ads on MySpace. If they were serious, they would have placed ads where they matters -- magazines and sites targeting aspiring singers or bands. Guitar, undiZcovered, etc.
News 
Market Data 
Discover 
AI
