Yes, our costs (even without wages) exceeded the revenue and would do so for a while. Revenue lagged behind the growth of costs, as is usual for affiliate reven

Yes, our costs (even without wages) exceeded the revenue and would do so for a while. Revenue lagged behind the growth of costs, as is usual for affiliate revenue when the communities are being built rather than traffic being purchased. The risk therefore was to the investors, whose support we needed to continue even though we hadn't secured more experienced angel or VC support (not a good signal).