Rightscorp may have played a major role in BMG’s successful lawsuit against ISP Cox Communications over copyright infringement, but the anti-piracy firm continues to face financial challenges in its business. Its latest financials reveal that Rightscorp’s revenues fell 35% year-on-year to just under $140k in the third quarter of this year – a quarter in which the company recorded a $385k net loss. In fact, Rightscorp spent $387k in general and administrative expenses to bring in those $140k of revenues from settlements, which suggests something isn’t working with the firm’s business model. Rightscorp ended Q3 with just $6.7k of cash. In the financials filing, the company admitted that there is “substantial doubt about the Company’s ability to continue as a going concern” through raising additional capital through debt or stock sales. “No assurance can be given that any future financing will be available or, if available, that it will be on terms that are satisfactory to the Company,” it explained.
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Tools: Kaiber
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