We're not screwed per se, just treading water just below break even. We still have a significant paying user-base but our churn is higher than our new user acquisition rate.
We keep trying to fix that but over the past year or two we've had little success.
I like the team and we're working on another project that could potentially re-ignite the company so I haven't given up all hope yet.
I committed a block of money back into the company when I decided to hire a team. We haven't burned through it yet (that's the 6-12 months runway that's left at this point) but once it's up I can't justify putting in any more and wouldn't feel comfortable asking an investor to put money into something that I wouldn't fund myself.
We keep trying to fix that but over the past year or two we've had little success.
I like the team and we're working on another project that could potentially re-ignite the company so I haven't given up all hope yet.
I committed a block of money back into the company when I decided to hire a team. We haven't burned through it yet (that's the 6-12 months runway that's left at this point) but once it's up I can't justify putting in any more and wouldn't feel comfortable asking an investor to put money into something that I wouldn't fund myself.