Quote:
Originally Posted by RawAlex
The only good thing about FFN is that they are paying down the debt (aka, paying Lars and Andrew's note, I gather). But the gap between top line revenue and bottom line results is huge, and shows perhaps a company that is a little lacking in forward thinking management.
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I heard the acquired loans from private investors / banks to repay Andrew / Lars but not sure how accurate that is. I also heard their interest rate was like 20% and the loans were being called due this year.
Penthouse should have gone out of business a LONG time again. Way before it even bought ibill and looted them to try to keep Penthouse a float. Everything Penthouse touches turns to shit and Marc Bell has been the person in charge during those times, glad to see him exit for good. Penthouse hasn't been profitable in many years but yet they keep acquiring companies like ibill, FFN and sinking them.