Qtrax is total baloney
Not only is the company only worth $5mm, if that, but it has at least that much in money judgments against let alone God knows how much more in unpaid debts and outstanding lawsuits. Don't forget that Qracle has a judgment for $2 mm alone!
The Qtrax tracks have timed out and are no longer playable, not even with their crappy Silverlight player. It's an abomination. Over the life of the company they've reportedly raised in excess of $50 mm and have absolutely nothing to show for it.
And you're right about the model, stock jock. It's aboslutely impossible on every level. Even when it was live in 12 countries Qtrax only got a few of thousand visitors a day on average.
I personally find it offensive that those guys are free and roaming around hitting people up for cash. They give a bad name to the entire digital music space and have contributed nothing and have nothing to contribute. They have screwed over so many of their former employees that it is embarrassing. And these were key people who had to leave because Klepsy was not living up to his promises to them, bouncing checks on them or just flat out not paying them. In most cases he never registered shares he gave to key executives as promised thus rendering them useless.
On the other hand, anybody who does give them money deserves to lose it. Ever wonder why they're in Canada looking for money and not in the US? They've burned every bridge here and if the SEC wasn't concerned with bigger fish they'd be in jail. Klepsy has violated so many laws regulating publicly traded companies that it's ridiculous. He refuses to file quarterly or annual reports or hold annual shareholder meetings. In fact, he doesn't even communicate at all with the shareholders!
It's absolutely egregious.
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