Quote:
Originally Posted by ilnjscb
The market for risk that high is very illiquid right now, but they need to be working their asses off to reduce that rate and reduce S&G.
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Since FFN was never profitable under Bell et al, and the debts keep piling up (not decreasing), it will be interesting to see what they will do, especially since they seem to have counted on sites that deliver traffic from sources that have been widely accused of hosting pirated/stolen content (as these sources go away, how will FFN make up for the lost revenue?).
And they must spend a lot of money, and pray for a victory in their lawsuit(s), since a major class-action loss might prove devastating/fatal to a company mired in debt.
Maybe with Bell gone, the company might be able to get on the path to profitability, but that appears unclear for now since the same group of cronies that have been with Bell since iBill (yup, Marc Bell's fingerprints are all over that failed company too) still hold the executive positions at FFN.
I wonder what kind of compensation package Bell will get since the company appears worse off today then when he took over. He'll still be on the Board of the Directors, so I'm guessing it will probably be generous (particularly if based upon his wages, which took a nice hike in time for his resignation).
ADG