There may be some truth in that, but other major companies have spent millions attempting to be the first company to cross the finish line with their version of the mobile payments solution; most of which are supported by the questionable NFC chip.
cMoney is a start up company with new technology and I think they have those two things going against them from the start. New technology is hard to grasp by most peoples standards and that- factored in by a company that doesn't have a solid history because they are a start up company, will leave some investors insecure.
However, every major ball player had to endure their rookie season to become what they are today. All it will take is one major affiliate, backed by the major announcement, in conjunction with the release of their much anticipated product, to make the nonbelievers-believers.