RE:RE:RE:RE:New Press Release - Snipp Interactive Provides Corporate UpdI'll beleive it when I see it with Gambit turning into profit and SnippMedia being more that a sound bite on conference calls. If I beleived everything they said was going to happen we would be signing countless new contracts with all the different brands inside these companies they have apparently got their foot in the door with over the years, yet backlog remains the same and revenue isn't acclerating in their core business (as far as we can tell with no financials). How many times have we heard Atul boast about it taking time to get approved by the marketing departments of these fortune 500 companies but once they get in the door they can expand to all the different brands at the same company..... well we're waiting, focus seems to have changed yet again to something new.
Not sure how it is absurd to say they are burning through cash? They have 1.5 million dollars less than they did at the start of the year. I remember a certain someone being very critcal of Snipp hiring all kinds of extra bodies a few years ago. Maybe they are good hires, maybe they are not. Maybe Snipp Media will be a cash cow that increases margins, maybe it won't. Maybe Gambit will be proitable, maybe it won't. From a strictly financial aspect everything they have told us (which is not much) shows a business that is losing cash reserves and not growing sales, everything else is hopes and dreams at this point.