Had a quick look and could not believe the expense bill and losses this company makes.Take a look at the wages bill double to over $8 million and bleeding cash like no tomorrow.
MKB Price at posting:
9.0¢ Sentiment: None Disclosure: Not Held
Actually rndcoic, anybody can download the app from the app store so get that fact correct. Apple does not limit the ability to download the app to just students! So yes, there is always a possibility that any "miniscule" uptick in downloads can occur due to "PPD" (i.e. pay-per-download) advertising where you raise the price you are willing to pay affiliate marketers for downloads. The downloads mean nothing other than looking good to investors like "you" who are not looking behind the numbers. Yes, this can be the equivalent of paying overseas (china) server farms to download the app through unique devices to drive up the inflated "download" total.
IMO, this is what you are seeing with REC*IT and is the reason that the "monetization" concept has been pushed...and pushed...and pushed...because, well there are no "actual" users to "actually" use it. just "downloads" which actually mean nothing.
IMO, also the reason they will not get US capital and the stock will continue to tank. The only way this thing doesnt go insolvent is if an already in too deep investor provides them a loan. Which wouldnt be the first time.
MKB Price at posting:
8.9¢ Sentiment: None Disclosure: Held
