• The company is in a lengthy transformation to a new SaaS platform, but it’s producing large losses and bleeding cash in the process.
• The company is running out of cash within a couple of quarters. However, there are very few signs yet the transformation is producing results.
• While the shares are dirt cheap, they are not unlike out of the money call options. There is a chance of big returns, but losing your investment seems more likely.

Source: Time Is Running Out For Marin Software – Marin Software (NYSE:MRIN) | Seeking Alpha