But the phones are ringing off the hook! $100K

But the phones are ringing off the hook!

$100K for the week is more than enough to pay for operational expenses. It seems like it would also be enough to finish the beta testing on VChat, which should actually cost about $0.

So why the need for this constant raising of cash by continuous dilution? And especially, over $2M with the upcoming offering.

Looks like someone's trying to fatten their bank account before calling this career quits.

From the Uptick interview of 3/16/2020:

"Once we show some major strength, which will be a while down the path, we might do a reverse split, but at this point there's no chance of a reverse split happening," said Kay.

(the r/s was announced less than a month later - "On or about April 16th, 2020, the Board of Directors and the holders of a majority of the voting power approved a resolution to effectuate a 500:1 Reverse Stock Split" - so the decision, itself, could have been more like a week or two after the interview.).