Sunday, November 29, 2009

Updated: GetFugu Revenues & Net Q3 08 to Q3 09

Enhanced mobile search company GetFugu (GFGU) concedes in their latest 10-Q, filed with the SEC on 11/23/2009, that their accumulating losses and dearth of cash (less than $50k, with a burn rate of $500-$600k per month) make securing additional capital from external sources mission critical in the short-term. Failing that, these issues "raise substantial doubt about the Company’s ability to continue as a going concern." I would suggest that their prospects for obtaining those additional funds, considering their financial track record, recent investment drama, an alarming new exposé on and the fact that their lone product seems to have disappeared from the iTunes App Store, are about as paper-thin as expertly prepared blowfish.

UPDATE 12/1/2009: It looks like an updated version of the GetFugu Mobile Search App (v0.3.1) is now back up on iTunes, just in time to coincide with the company's oddly tardy announcement about a theatrical marketing tie-in with Summit's blockbuster film "The Twilight Saga: New Moon"... which released in the US on November 20th.

No comments:

Post a Comment