RE:RE:RE:Hmmmm...not a good feelingVirtutone is not able to grow above $15 - $16 million a month without additonal. Obviously equity is out of the question here, so without a line of credit, the company remains subscale and unable to generate any meaningful earnings.
The company has announced a line of credit twice without ever securing it (also press released 6% gross margins without ever achieving it). I don't know many companies that pre-announce milestones without achieving them. To date the company has been unable to "use" a line of credit.
You're wrong about not getting access to debt from banks. Profitable and secure businesses are able to get loans. Somehow, Virtutone has not. It is not them "deciding"...it is something else (not sure myself).
Do you really think Virtuone would not just use a line of credit until it could find a better one (debt would be very accretive to earnings...at almost any cost)?!?
Also, what happened to SMS?
It took me a little time to realize it...there is nothing happening here...except another big promise after another...and that's why I'm slowly selling...