Talk about a lot of debt:
" As of December 31, 2010,? it continues, ?we had $305.0 million of New First Lien Notes and $13.8 million of Cash Pay Second Lien Notes outstanding. The New First Lien Notes and Cash Pay Second Lien Notes have a stated maturity date of September 30, 2013. Interest on the New First Lien Notes and Cash Pay Second Lien Notes accrues at a rate per annum equal to 14 percent. "
305M in the hole, and paying 14% interest. And last year they had a whopping Net Loss of 43.2 million.
If anyone doesn't see this as a way for the "executive officers, directors, and principal stockholders" to all of a sudden get a wealth of their own stock, so they can then cash it in and run with the money, they are crazy. Basically they going to let John Public buy stock, making their paper with something so they can cash in their own shares before the company goes bankrupt. I don't know shit about stocks but this one looks pretty fucking obvious. Why would anyone want to buy stock in that company.
Strange, it didn't say anything about the Facebook lawsuit either
