So true. This term seems to be abused more than ever now a days. I've seen too many people who are just starting a company (literally), throw this term around. It's not something to be proud of unless you have something to be proud of.
If you're not making money, you're not a company. You're a collection of people that might be a company, someday.
Uh? You're a company when you sign the paperwork to make a company. I get the sentiment behind what you're saying, but the statement doesn't make sense.
If you're not making money, you're not a profitable company. But that ought to be reasonably obvious.