I dont understand why the Cornell funds havent been...

I dont understand why the Cornell funds havent been used.....?

What "magic" source of funding is keeping this alive?

Phishpheet - yes, its a tough model. Telstra spent in excess of $20m setting up their service (to RMA's $7m as you point out) - issue still comes back to;

Marketing - should be EzyDVD initially, then otehr partners
Content - EzyDVD has been granted shares - where is this?
Op Cash - according to announcements - Cornell would provide $180kpcm - and op costs are now $120kpcm according to Wilshire in a press article

Back to my first question. Seems to me that the directors are completely out of their depth.