Xtone Networks

Xtone Networks Do not invest in this company. Scam. Reston, Virginia

28th of May, 2011 by User105480

Do not invest in Xtone Networks. I have had several business associates lose tens of thousands of dollars investing in this strange company. Short of comparing this to a Ponzi scheme, I suggest you read below. Xtone Networks has been around for over 5 years now and has gone through approximately 10 million dollars in investors money with nothing of real value to show for it. Xtone Networks trys to sell it's voice recognition and text-to-speech services (which are based on off-the shelf Nuance, IBM and other software programs). It's far from proprietary software or design (Don't even get me going on the ridiculous Patent applications, none of which have ever been granted). A single person can cheaply put this software together on a mobile device using Nuance, IBM and open source programs. You don't need a full staff, office, 10 million dollars, Indian off-shore companies and 5 years of time. Maybe one person and a few of weeks of programming. Just look at apps (a lot for free) on the Android Marketplace and the Apple iStore. I would say most of the Android and Apple iStore apps are made by single developers working a few hours each evening to make some extra money and some do hit it big. Xtone Networks seems to be just a marketing scheme. 1) Get gullible investors to put up cash. 2) Pay yourself and your friends over $100K/year salary each. 3) Take any extra money and put in the pockets of your friends companies (Indian off-shore companies, HR firms, etc.). 4) Not make even one penny of revenue in over 5 years. If you've invested in this company, ask them these questoins or via your lawyer. 1) How much money has been paid to Inidan companies with nothing to show for it? 2) Why have all the original developers, engineering and opertions staff left on their own accord from Xtone and how is the company still running without these key individuals? 3) Why has this company tried to stay low on the radar of the Speech industry? Does Xtone have something to hide? Afraid of being laughed at by reputable Speech companies that acutally practice innovation? Good Luck

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