Context I believe Kremlin left out: "Expenses Twelve Months...

Context I believe Kremlin left out:

"Expenses Twelve Months Ended June 30, 2015 $27,899,016."

No real product to show and more alarming is no proprietary technology. The biggest ticket item the company has is REC*IT which is licensed content they are just taking and redisplaying. Will see no revenue from that and worse they continually must pay licensing fees and are beholdin to a small company in IMLeagues.

Similarly it appears that BNR and RunHaven are getting closer to closing shop and staff members have been cut. This is seen via a little research on their site, linkedin, message to employ and the fact they have alluded to the decision in the annual.

Tough times. Looking over their 12 months ended June 30 expenses, recognizing the burn rate, seeing the cash on hand as reported in June and knowing it's now October. It all adds up to that the company likely has <$2m left in the bank. I would likely put it closer to to the $1m figure.

Also seems like the roadshows that have occurred over the last 4 months equated to nothing. Bringing to rise the statement that there is no real technology here and financial projections to argue a $28m expense for the past year would be nearly impossible to get any investment.

I tend to agree with Kremlin. This was bad leadership that appears to be sinking the ship. Shockingly, leadership continue to cover their eyes. Who is going to take responsibility for the piss poor numbers, extreme spend, lack of product, the list goes on.