"Five of us spent nearly a year and a half of our lives and over a million dollars in cash and sweat equity developing the iFlowReader app"
if they were serious about the risking all their eggs in same basket, they could have used consultants/outside developers to port their app to other platforms with less than 10% of the said investment
Note that they state both cash and sweat equity of one million+.
Between five people and 1.5 years, a million dollars in sweat equity for developers is probably understated. They invest the time & skills (that they could have been using to freelance or consult for others) into their own company. Some people would consider this 'free' - but it's not free, the opportunity cost is still there. When you're closing shop without a gain, you are going to start looking back and counting all those lost opportunities in terms of dollars.
if they were serious about the risking all their eggs in same basket, they could have used consultants/outside developers to port their app to other platforms with less than 10% of the said investment