Is it profitable? If you're not making enough perhaps you could sell it to someone in a lower income country or to someone with a lower income expectance? Still working on it for 12 months seems like a really long time.
Sometimes, you are profitable but you know this is not the way to continue. You also know that it is better to stop than to let someone continue without the same level of commitment to the product/service. I closed a service once, it was profitable, but it was better to close. It took me 18 months to close it, ensuring the existing customers could migrate smoothly somewhere else.
Lim is respecting his customers, giving them time. He is getting all my respect for that.