I am convinced this business model is trash. If revenues were to abound they would have increased at least 50% since 2011 or 2012. So what if China has a zillion citizens with computers./ tablets / I phones. None of them are using Ipass. All the execs at Ipass will be bailing ship now that their grants are just worth $1.sh. I should have sold long ago. I am sorry wishful dreamers. I am now facing reality.
They are in redwood city, the are playing internet company games. Get the eyeballs get the partners get the market share. The question is can they get to a big enough scale that they can be the lowest cost player and create a barrier to entry to competitors,by making it cheaper for anyone to partner with them rather than build it themselves. Being an internet stock the market takes the cash burn very-very seriously because the number of quarters they can go like this is getting smaller.