Well Johnny good on you for hanging in there.1. Untried...

Well Johnny good on you for hanging in there.
1. Untried technology:
This not an untried technology, MOKO is adapting and applying existing and proven technology to a specific market catchment (segment) that have a specific need. So bottom line in this discussion is that unproven technology is not a risk factor.

2. Unproven Market:
USA Colleges is the REC*it market app target. Is the US College network unproven? This is a highly focused & financially rich market (MOKO or not) So the question is do the NIKE's want access to this market in a highly focused way? I wont bore everyone with all the other obvious and less obvious companies and corporates that would also like access to this highly focused market, but I think most investors/observers will agree there is a very large list with budgets in place to attack the students budgets and discretionary dollars. You will need to do your own research to bring yourself up to speed as to why these companies continue to compete for the students attention or why or how the student is wooed!
UNPROVEN MARKET?? This is not a risk

3. No real indication of likely revenue:
This will come down to your own research and if you read the info provided by the company, and in this case Shaws and apply this to other similar technologies deriving revenues from similar, then you have to make your own call. Some hints can also be found in the mobile marketing companies strike rates. When you have completed this then apply the fact that MOKO have done what Facebook and Google did not mange and that was to own the end user. This is a significant trend and MOKO are leading this trend.
If I can elaborate / digress - Google has become the elephant in the room, its big and its a dominant feature in this landscape, but elephants can be rolled by the new bull! (& no I am not suggesting that MOKO is the new bull) so what will roll or defeat GOOGLE ? ANTS ! Google is too big now and as a result a new trend is now in play...there will emerge thousands of MOKO like models highly focused providing a great quality offering (Speed, accuracy and laser like connections) MOKO or not this is underway! MOKO in my opinion has a first mover advantage.

4. 90's Dot com: I am not sure where or how you can bring this into the discussion apart from just reading Headlines?
All companies must show earnings and earnings growth, is there a PE crash coming - Probably at some stage, I have no idea when. But all companies make projections and forecasts and I think this is where you should also apply some effort before jumping in.
MOKO is priced as speculative and is heavily marked down accordingly, what will change this? the confirmation of the expected incomes.
DOT COM - you could be right but I do see that SEEK and REA and a lot of other DOT COM type businesses are earning real money with real growth..your call!