Clear signs of Fraud: "Our current cash and cash equivalents are not sufficient to meet our cash requirements for the next twelve months. We have historically satisfied our capital needs primarily by issuing equity securities or loans. We are actively seeking financing to meet our future cash requirements. All additional funds that have been and will be raised will be used to:"
Founded in 1997 and seems to have never made a profit.
Shareholder liabilities of over $33 million dollars.
$294k paid to executives in three months for wages and "benefits"!
$100k on "consulting" Wanna guess who did the consulting work?
$65k on demonstration and travel. Only first class and five star hotels for Isee3D!
$22k on `Communication`expense. International telephones calls are expensive.
And of course over $100k in ``òther expense``.
In my opinion, the management is running a good ole fashioned ponzi scheme. They have only $60k in revenue yet management is raking in millions in salaries and expenses. They claim this money is needed for intellectual property rights and r&d yet they only claim their patents to be worth less than $100k and around $50k in product developement costs. All the money seems to be going to support a very nice lifestyle for Isee3d execs.