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This isn't a good sign for #Viggle .
Not only are they missing a $4.8M payment and agree to pay it off in 7 monthly installments, but then they have to borrow another $1M to keep afloat. So if they have to borrow a million, where are they going to be getting $686,000 each month. The end could be near.

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#Viggle may have 9.5 million registered users, and they may have a 40% increase in revenue, but there are a couple of major points they forgot to mention. How many of those 9.5 million users even bother to check in anymore? I think a lot of them have bailed because the rewards they want aren't there anymore. But the big thing they never mention is that during that same period when they had a 40% increase in revenue, their operating loss widened from $65.8 million to $74.7 million. How did that happen? I think that's an important detail to mention.

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Now what kind of a doofus would buy more than 2 million shares of #Viggle stock for $4.2 million when they say they are going to use the money for general operations, not even any kind of acquisition, when they are already burning through borrowed cash at a phenomenal rate, and they can't even say when they plan to begin showing a profit?

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Interesting post on ViggleTips.com regarding why Viggle is forcing upgrades on their app so it won't work on older Apple products. According to Viggle Tips, it's Apple forcing the issue and requiring it.

Actually, I think Viggle could still supply older versions of their app through their own website, just not through the Apple store, but the other issue is that Viggle's subcontractors like GraceNote are going along with it, so it could cause more problems, and if it's one thing Viggle doesn't need, it's more problems with their buggy software.

As we've discussed before, no matter what's behind it, it's going to cause a loss of users for Viggle, probably a large one, but they will do their best to mask it. As bad as their financials have been, anything will hasten their movement toward the edge of the cliff.

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Viggle Sinks Deeper in Debt
Last week #Viggle   reported to the #SEC   that they borrowed another $1 million from their chief investor Robert Sillerman

Viggle sent out an e-mail telling Apple users that the new version of Viggle is now available for iOS users. It is only compatible with v 7.1 and later. The upgrade of the Viggle app will soon become mandatory. What they seem to have forgotten is that many older Apple devices (and there are a lot of them out there) don't support the v 7.1 operating system. Therefore, Viggle is about to cut off a lot of their users.

Viggle's stock continued its downward slide and closed today at $1.38, flirting with its 52-week low of $1.27.

#Viggle  

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Interesting that Sillerman, who seems to virtually own Viggle, wants to buy one of its major assets from it.
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