Monetizing Link Directory
I have a link directory, link1000.net, which I'm looking to monetize. I did not set this up on my own but I bought it ready.
Here is a brief history of what we did since we purchased it:
1)I held a Link Submission Contest with $400 prizes. Nonetheless, there were not enough participants so the contest was eventually cancelled.
2)I hired an on-page seo engineer to fix some broken links which I noticed, unfortunately, only 2 months after purchasing the directory. The page was fixed and it cost me $30.
3)I invested $700+ in quality link building.
4)In March we started having problems with our host: the link submission service was suspended for about 2 weeks. Again, I had to pay an engineer to fix it and he told me it was a virus.
5)Last month I hired someone to approve links. So, all pending links are approved every 4 hours.
The results of all this were a mere increase in alexa from 280000+ to a maximum of 40000 with a present-time alexa of 117000. PR is still 0 and still $0 income per month. Now I want to invest an additional $1000 but in something efficient that turns my 0s into numbers.
What should I do? Or is it useless? Are link directories black holes or is it possible to monetize them?!
Please help.