Yes, I see that. The depreciation from the capitalization of the R&D seems to be about half of it and then there's all the goodwill that needs to be written off from overpriced acquisitions. Still, most of the insider selling in 2012 was at 200%, 300% or 400% of today's price although it is concerning that the insider selling continued all the way under $5. That being said, if we assume the entire business is legitimate and the market felt it was worth $12 to $16 in 2013, is it possible it's worth half that in 2013?
It went public in bubble territory, the prospectus was painful (actually kind of disgusting) to read but I can't say what a fair value is. Disney/ESPN are involved and I like that plus I know I like the thought of less fragmentation in the event management field but can it gain enough market share to make it a "must-have" product? They aren't there yet.