Sure, it is possible. But in this particular case company must hold a huge part of total amount of tokens. And, of course, the company will be able to manipulate the rate of the token, for example - create an artificial collapse and buy out all tokens later. We dont want to blame anyone, this is just an obvious logic
But anyway project will be able to make money on different internal services - ads, promotions, for example.
Our calculations say, that it isnt like this, in reality those services dont create enough cash flow to cover all expenses.