another channelnews mention, page-28

Insiders who have had access to Quickflix financials said that the Company is currently running out of cash. "One year's survival requires at least $10M or another 2-3 billion shares. They claim that the Company has lost its ability to excite more investment at any value.
The WA based Company has been to the market 13 times since 2010 to raise capital with all of it being spent on marketing, acquisition fees and high salaries for directors.
An administrator told ChannelNews that the assets of the Company have some value and could be sold to pay out creditors, however the their disc library asset which they acquired from Telstra BigPond for $500,000 is now valued at less than $95,000 due to declining demand for disc content.
Insiders value the business at between $500K and $1M.
Recently Stephen Langsford the Executive Chairman and CEO was awarded a 44 per cent pay rise to $392,413, while Mr Simon Hodge, Executive Director and CFO saw his pay packet rise by 38 per cent to $349,597.
- See more at: http://www.channelnews.com.au/indus...-tries-to-raise-67m.aspx#sthash.wh0rS4i8.dpuf