I didn't think it was possible but...

RawAlex · 06-18-2013

Actually Toby, it's what makes the whole thing seem a little suspect. The ratio of income to debt was essentially that of a near bankrupt company from the word go. They didn't even raise enough in the IPO to retire enough debt... so they are still holding notes and paying high interest rates, which is in turn hobbling the company and keeping it from having positive results.

Further they list domains as assets at incredibly inflated values, which creates a nearly artificial balance sheet. It's legal, but wow... it's certainly on the limits IMHO.

My guess is that unless someone comes charging in within the next 60 days, they delisting process will start and that will be that. I am guessing the company will bankrupt out, selling off the friend finder stuff to another company, and possibly killing off the magazine(s).

06-18-2013	#9
RawAlex Members $100 for every ImLive sign-up Join Date: Oct 2002 Posts: 4,036	Re: I didn't think it was possible but... Actually Toby, it's what makes the whole thing seem a little suspect. The ratio of income to debt was essentially that of a near bankrupt company from the word go. They didn't even raise enough in the IPO to retire enough debt... so they are still holding notes and paying high interest rates, which is in turn hobbling the company and keeping it from having positive results. Further they list domains as assets at incredibly inflated values, which creates a nearly artificial balance sheet. It's legal, but wow... it's certainly on the limits IMHO. My guess is that unless someone comes charging in within the next 60 days, they delisting process will start and that will be that. I am guessing the company will bankrupt out, selling off the friend finder stuff to another company, and possibly killing off the magazine(s). __________________ Let's go to the edge of disaster Push the pedal and go a little faster Let's slam into a wall at ramming speed Let's go to the edge of a mountain Jump off and lets start countin' Hit the ground and tell me if it bleeds