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YouNow released 1H19 financials which showed a 74% decrease in operating revenues since 1H17 likely caused by a steep decline in viewership for its namesake live streaming service
Although the company has tried to taper its expenses, operating losses have eaten through the vast majority of the $21 million raised through the company’s SAFT sales of its Props tokens
Management noted that daily in-app purchases had increased 32% since the integration of Props in July, but it’s uncertain how sustainable this growth will be with total visitors down 16% in September
Given these considerations, the company filings noted “substantial doubt about the Company’s ability to continue as a going concern within one year” unless it raised additional capital
Footnotes
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