IWDM has no employees, therefore they do not need 2500 square feet of office. RadioIO does not have any employees, therefore they do not need 2500 square feet of office to "broadcast out of it everyday". All of the talent is on a contract basis, broadcasting from the BRN, which Bubba is probably compensated for, for the use of his studio.
You don't have to believe me, you don't have to believe their own reports.... pick up the phone, call Bean. Better yet, go visit the 2500 square foot office your investment is paying for. What do you think you'll find there? My guess would be no sort of a corporate operation for IWDM.
Anyone close to Lemon Street that is an investor? Set up an appointment for an office tour, take pictures, prove me wrong.