I would love to know who they conned into getting this money. I believe more than half was used to pay off suppliers and installation companies. Forget, $800k for Davis Bacon issue with employees. Two months of payroll and other fixed operational expenses and again looking for more money. Finally, no one will loan money to a company with no solid business revenue plan. They tried to sell data but it was full of duplication and a lot of meaningless data. They tried to develop a charging subscription model, but that had to many hole in it. Plus, really not enough revenue to call it a true profit center.
HEY BELL. NOTwanting to waste time looking but payables,cash, bur rate as of 3/31 were public. You could be right but using 4 mil to pay payables meant they had like no cash as of june 1.Would love to see the cash flow statements from april 1 to august 6