Have a look at the last quarterly cash flow and the problem is very evident. I note that they push their Appendix 4C to the back of several puff pages. They only had receipts of $600K and expenses of $5 million !!!!. That equates to an annual burn rate of a whopping $17.6 million. They have not articulated where all this great success on the college student market translates to revenue and profit. I think their strategy is to get as many eyes as possible and hope a Facebook or similar offers them a whopping great price for a business losing money.
Shareholders may as well buy a lotto ticket, the odds may be better.
MKB Price at posting:
2.8¢ Sentiment: None Disclosure: Not Held