Their business is worth less than nothing. It is decreasing in revenue year over year, their software license sales are tracking at a pathetic $7 mil per Q, they are bleeding red ink every quarter with no end in sight, and the CRM software sector is on the decline (just take a look at SEBL).
So what is the value of a failed business plan and a shrinking revenue base that still bleeds red ink? To close the m*ther f*cker down will cost more than its worth.
What you are buying with EPNY is purely cash on hand and the hope they can morph themselves into a real company. Frankly, I think it's going to be a very slow and agonizing death from here on out.