The first question is in answer to your question: "What is the business plan of the company?
Originally even registration of the name was a matter of contention, and then, when it was registered it was registered by using a fake identity.
The web site linked to the company originally claimed that it was founded to continue the work of Ronan O'Rahilly, but now Malcolm Smith who persists in calling himself Peter Moore for business and not artistic reasons, has denounced O'Rahilly as a cheat, liar and con man.
Paul Rusling wrote a book that he calls a 'bible' to push the O'Rahilly link from 199 to 648, but now, Smith has jerked that rug from underneath him.
Smith has also denounced half the anoraks on the Garry Stevens Board and left those on the Dave Martin Board very perplexed.
What is Smith's business plan?
The hulk called 'Ross Revenge' that was the product of theft and a criminal court case in the USA, has now been hived-off by Smith to a charity. Given present economic downturns that are going to get much worse, that hulk is a liability and not an asset.
So, what about the AM 648 station? Well, it is a relic of the rapidly dying AM past, but it got Malcolm Smith's business plan off the ground. For any entrepreneur that is a difficult thing to do.
But the next phase is just as difficult. A new business started from scratch has to pass into a managerial phase, and that is often more difficult than the first phase.
So, the next move by Smith was to move into FM and only partially use the Caroline name. At some point in time the name of the company may change and drop the Caroline name altogether. Same with the FM station.
To do that Smith has to cut free from the anoraks and create a genuine income stream. This is what he appears to be working on doing.
Malcolm Smith is a long way from making money from his venture, but he is off and running.
Will Malcolm Smith succeed?
Only time will tell.
If he does the Ross Revenge will probably have become scrap metal and a lot more anoraks will be dead. The young anoraks will be left with their own daydreams wondering what happened.
That is why we are spelling out what is likely to happen.