You might want to take a look at ITVN's Financials.
Their SEC Filings can be found here:
ITTV SEC FILINGS
A few excerpts from the most recent Quarterly report filed in June 2006:
Quote:
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Based on our internal projections, we do not expect that our monthly sales and subscription revenues will be able to pay all of our projected operating expenses until we have sold approximately 25,000 set-top boxes to monthly paying customers. As of June 30, 2006 we had only sold approximately 4,000 set-top boxes to customers and approximately 8,000 to distributors. No assurance can be given that we will ever have sufficient continuous subscribers or that we will generate revenues sufficient for us to become profitable.
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Quote:
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As of June 30, 2006, we had stockholders' deficit of $18,725,667. Since its inception through June 30, 2006, ITVN has had a net loss from operations of $8,386,488. Despite the $2,500,000 we raised from the sale of the Variable Rate Secured Convertible Debentures and Warrants in June 2006, we currently have a limited amount of cash available that is not sufficient to fund our anticipated future operating needs beyond the third quarter of 2006.
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XTV approached me awhile back about providing my content to them, and it genuinely seems like a good technology (although not without risk). However when I looked into the company, and saw at the time that iBill owned 20% (and iBill owes me over $20,000), I filed the contract they sent me until I had time to watch and see how they would perform.
Perhaps XVN should buy them out - they seem ripe for picking (is it worth the investment Evan?).
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