The amount of cash available to this company over the last two years is more than enough to have created a going concern.
The fact that they haven't been able to balance the spreadsheet to establish a profit margin and then build upon that profit, suggests that this is not a commercial business model. I won't speculate on what else it could be.
Hand me $6m and I would be profitable almost immediately. At the very least I would set my pay at a sustainable level so as to put the interest of investors before my own. That would be the responsible approach.
Simply holding a title doesn't entitle you to money. Performance does. I doubt any business anywhere would have tolerated this level of poor performance for this long from an employee. Why have shareholders?
CGB Price at posting:
1.3¢ Sentiment: Hold Disclosure: Held