Company Slowed

I got a notice the other day that VMI had posted it’s latest financials. It was just last year at this time I posted about this very topic. I still keep in contact with some people from the company, so I sort of know what is going on. Rather I know what isn’t going on.

I checked out their latest statement.

Since inception through December 31, 2008, we incurred aggregate net losses of $50.2 million.

Not any better than last year, but perhaps they have slowed down the burn enough.

We have moved our focus from the development of our product and we are now in a position to focus on the sales of our product and we believe that we will continue to incur losses until we generate sufficient revenues to cover all of our operating expenses.

No new features. Hmm, stagnant product? After all those hours of effort, I still hold out some hope that they can make it. Unfortunately all the wrong people will benefit if VMI makes a few sales.