FFN delisted from nasdaq - GoFuckYourself.com

Pipecrew · 08-08-2013, 05:06 PM

surprised this wasn't already posted.

http://finance.yahoo.com/news/friend...200200587.html

Lots of analysts said this stock would've been delisted in 2012, but hey, they made it 8 months into 2013.

CAHEK · 08-08-2013, 05:43 PM

Thats where they should be in first place

ilnjscb · 08-08-2013, 05:44 PM

Quote:

Originally Posted by Pipecrew

surprised this wasn't already posted.

http://finance.yahoo.com/news/friend...200200587.html

Lots of analysts said this stock would've been delisted in 2012, but hey, they made it 8 months into 2013.

Ouch - delisted companies rarely recover.

AsianDivaGirlsWebDude · 08-08-2013, 05:45 PM

Karma for all of those years underwriting content theft.

ADG

brassmonkey · 08-08-2013, 05:57 PM

Quote:

Originally Posted by AsianDivaGirlsWebDude

Karma for all of those years underwriting content theft.

ADG

in no way it could be E-whores

there are ebooks all over about it

signupdamnit · 08-08-2013, 07:32 PM

Quote:

I wanted to take this opportunity to share with you some news regarding the trading of FriendFinder Networks common stock. Beginning today, our publicly traded shares began trading on the OTCQB Marketplace under the new symbol "FFNT." This was primarily the result of our stock trading below the $1.00 minimum threshold required to remain on NASDAQ.

We understand there may be some concerns as a result of this change, but want to assure you that the trading of our stock has no bearing on the Company's current operations, strong cash position or our valued relationship with our marketing affiliates. We continue to honor our obligations to our affiliates and other constituencies and nothing in this announcement alters our commitments toward our affiliates. FriendFinder Networks remains a leading social networking and technology company, and that hasn't changed.

We continue to work on a refinancing plan that will strengthen the Company's balance sheet but in the meantime, it is business as usual for FriendFinder Networks and we remain committed to our affiliates and customers.

We appreciate your continued hard work and support and will communicate any additional changes as they might arise.

We also encourage you to contact your affiliate manager should you have additional questions.

Anthony Previte,
CEO

There was a time when I'd cheer them going but now I'd be pretty sad to see them go. Hopefully, somehow, they can turn it around. I will say that I've never had a missed payment from them.

SomeCreep · 08-08-2013, 09:21 PM

They're fucked, but hey that's capitalism. Even at their current market cap of $10M, I think the company is overvalued by at least 50%. Last I checked, they had a ridiculous amount of debt. They failed to innovate in a way that distinguished them from their peers. I praise Lars for cashing out when he did. Btw, what ever happened to Lars??

candyflip · 08-08-2013, 09:25 PM

Quote:

Originally Posted by SomeCreep

They're fucked, but hey that's capitalism. Even at their current market cap of $10M, I think the company is overvalued by at least 50%. Last I checked, they had a ridiculous amount of debt. They failed to innovate in a way that distinguished them from their peers. I praise Lars for cashing out when he did. Btw, what ever happened to Lars??

I think he buys and sells old cars.

Seth Manson · 08-08-2013, 10:10 PM

Quote:

Originally Posted by candyflip

I think he buys and sells old cars.

he does a lot of things

everything is going to be ok

Roald · 08-08-2013, 10:53 PM

Oh wow this is huge....

ls101 · 08-08-2013, 11:00 PM

Can I invest $500 to them or whatever amount it is?

lucas131 · 08-09-2013, 02:07 AM

i am sure they are preparing huge promo as celebration!

privatesociety · 08-09-2013, 03:12 AM

thought it would of been sooner

AllAboutCams · 08-09-2013, 03:58 AM

So is this the end?

mopek1 · 08-09-2013, 06:03 AM

Quote:

Originally Posted by AllAboutCams

So is this the end?

People have been saying AFF is closing down since 2005. Who knows.

slapass · 08-09-2013, 06:07 AM

Quote:

Originally Posted by SomeCreep

They're fucked, but hey that's capitalism. Even at their current market cap of $10M, I think the company is overvalued by at least 50%. Last I checked, they had a ridiculous amount of debt. They failed to innovate in a way that distinguished them from their peers. I praise Lars for cashing out when he did. Btw, what ever happened to Lars??

Most of the debt is owed to the founding partners. I don't think they will go under but the vehicle for holding the company might change.

adultmobile · 08-09-2013, 06:37 AM

Quote:

Originally Posted by slapass

Most of the debt is owed to the founding partners. I don't think they will go under but the vehicle for holding the company might change.

Difficult to understand the debt magics. Normal companies will simply close quickly if in debt (even if owners money and not bank ones is being lost), but not Penthouse/AFF:

http://en.wikipedia.org/wiki/FriendFinder

Financier Marc H. Bell, a high-net-worth of South-Florida, formed a partnership for the Penthouse acquisition, called it PET Capital Partners (as in, "pet of the month") amassing 89 percent of the magazine's $50 million in bond obligations. "We didn't buy the company, we bought the debt," says Bell.
On October 4, 2004, General Media emerged from bankruptcy and was renamed the Penthouse Media Group. It is now owned by three investors: Bell, Daniel Staton (a South Florida investor), and Absolute Capital Management, run by Florian Homm, a German hedge-fund manager, who lives on the Spanish island of Majorca. Post Advisory Group, a $9.0 billion hedge fund owned by the insurance company Principal Financial Group, formally committed in writing on March 4, 2004 to $30 million to General Media.
In August 2005, PET Capital Partners completed a financing with each of Post Advisory, Canyon Capital, and Satellite for $40 million. According to SEC-filed documents dated August 31, 2005, payments were made to directors and officers of $14,502,901 and "payments to others" were $11,710,965.38, leaving the company with working capital of $11,441,218.59.
In December 2007, PMGI announced the purchase of Various, Inc. for $500 million.
According to thedocument filed in December 2008, of the company's $691 million in financial liabilities, $411 million had been reclassified from long-term to short-term. FriendFinder Networks had $420.1 million that was immediately due and only $43.3 million in cash on hand.

As of January 17, 2010 FriendFinder Networks has a negative net worth equal to $118 million, $32 million in cash on hand and $650 million in liabilities.

A liability is a an obligation (future sacrifice of economic benefits) of (the AFF/PEnthouse company) arising from (as a result of) past transactions or events (loans), the settlement of which may result in the transfer or use of assets, provision of services or other yielding of economic benefits in the future, an outflow from the enterprise of resources embodying economic benefits.

What if debt can't be paid in cash by the company... the guys who loaned, gets "the company and its assets", but if the company owners are mostly the same ones who loaned to the company, they get "each others debts", so I guess, they lost all the cash simply. But, I may be wrong.

PornDiscounts-V · 08-09-2013, 07:03 AM

That shit is not floating.

Increase dinner intake.

Adjust accordingly.

ilnjscb · 08-09-2013, 10:54 AM

Companies can survive delisting for years but it is very rare that they become growth companies again. Most likely you'll see them go private. They will also be subject to more class action suits by the people who invested based on their IPO. Those are the people who've really lost.

The bondholders have access to the EBITDA eventually, and that is a very strong 60m.

This kind of complex shit is frowned upon by regulators and courts though, who might side with plaintiffs and see it as a 50m skim job. Those suits might succeed, and if so the judgments might be placed senior to the bondholders.

Either way a company with a 60% gross margin and 20% EBITDA will not go away tomorrow.

mikesouth · 08-09-2013, 10:57 AM

my blog had this story day fo yestiddy yall....

pornguy · 08-09-2013, 11:01 AM

They jumped 40 cents a share in the last 5 weeks or so but going down again.

Klen · 08-09-2013, 11:11 AM

No wonder,i recently did some biz with them and i was horrified how they do business,i did business with thousand people/companies and nobody horrified me as aff lol

fris · 08-09-2013, 11:27 AM

how much do they owe to investors?

dillonaire · 08-09-2013, 11:35 AM

hummmmmm......my gf (she works for AFF) decides to move in with me and the next day they get delisted. Hopefully its a coincidence, but i did work for Private at the time when they got delisted. Maybe im bad luck to be around publicly traded companies.

ajrocks · 08-09-2013, 11:50 AM

Quote:

Originally Posted by pornguy

They jumped 40 cents a share in the last 5 weeks or so but going down again.

likely an attempt to to stop de-listing buy purchasing their own stock. I think this has happened twice since the stock first dropped below 1.00 per share.

AmeliaG · 08-09-2013, 07:54 PM

Quote:

Originally Posted by SomeCreep

They're fucked, but hey that's capitalism. Even at their current market cap of $10M, I think the company is overvalued by at least 50%. Last I checked, they had a ridiculous amount of debt. They failed to innovate in a way that distinguished them from their peers. I praise Lars for cashing out when he did. Btw, what ever happened to Lars??

Yup. $504,457,000 of current debt (and current portion of long-term, as it apparently all came due) in their first quarter filing. Next to a market cap of $9,520,000, that seems pretty untenable.

08-08-2013, 05:06 PM	#1
Pipecrew Master of Gfy.com Industry Role: Join Date: Feb 2002 Posts: 14,887	FFN delisted from nasdaq surprised this wasn't already posted. http://finance.yahoo.com/news/friend...200200587.html Lots of analysts said this stock would've been delisted in 2012, but hey, they made it 8 months into 2013.

08-08-2013, 05:43 PM	#2
CAHEK C.C.C.P. Industry Role: Join Date: Aug 2003 Location: Novorossiya Posts: 6,978	Thats where they should be in first place __________________ Pharma from True-Meds. High converting shop in Europe and USA, fast payouts via BTC !!!

08-08-2013, 05:45 PM	#4
AsianDivaGirlsWebDude Purveyor, Fine Asian Porn Industry Role: Join Date: Jul 2004 Location: San Francisco Bay Area Posts: 38,323	Karma for all of those years underwriting content theft. ADG __________________ Asian Diva Girls - Exclusive Photos and Videos Asian Diva Girls Affiliate Program (50% ccBill Revshare)

08-08-2013, 09:21 PM	#7
SomeCreep :glugglug Join Date: Mar 2003 Location: Where the Wild Things Are Posts: 26,118	They're fucked, but hey that's capitalism. Even at their current market cap of $10M, I think the company is overvalued by at least 50%. Last I checked, they had a ridiculous amount of debt. They failed to innovate in a way that distinguished them from their peers. I praise Lars for cashing out when he did. Btw, what ever happened to Lars?? __________________ Webair Hosting I use and recommend Webair for hosting.

08-08-2013, 10:53 PM	#10
Roald SecretFriends.com Industry Role: Join Date: May 2001 Location: IMC Headquarters Posts: 27,885	Oh wow this is huge.... __________________ WE ARE BUYING PAY SITES! CONTACT ME ClubSweethearts \| ManUpFilms \| SinfulXXX \| HOT * AdultPrime * HOT Paying webmasters since 1996! Contact: r.riepen @ sansylgroup.com \| telegram: roaldr

08-08-2013, 11:00 PM	#11
ls101 Confirmed User Industry Role: Join Date: Nov 2012 Posts: 713	Can I invest $500 to them or whatever amount it is?

08-09-2013, 02:07 AM	#12
lucas131 ¯\_(ツ)_/¯ Industry Role: Join Date: Aug 2004 Posts: 11,475	i am sure they are preparing huge promo as celebration!

08-09-2013, 03:12 AM	#13
privatesociety Confirmed User Industry Role: Join Date: Jan 2013 Posts: 567	thought it would of been sooner __________________ CURRENTLY CONVERTING AT 1:55, TRY US! We film real people doing what they do best... Your friends and neighbors having sex for all the world to see. PROMOTE PRIVATE SOCIETY AND MAKE $$$ 1:55 CONVERSION RATE ICQ: 658501707 Email: [email protected]

08-09-2013, 03:58 AM	#14
AllAboutCams Femcams.com Industry Role: Join Date: Jul 2011 Location: bjcam.com Posts: 12,222	So is this the end? __________________ Binance - Blockchain and Crypto Asset Exchange Chaturbate make money in cams

08-09-2013, 07:03 AM	#18
PornDiscounts-V Confirmed User Industry Role: Join Date: Oct 2003 Location: L.A. Posts: 5,744	That shit is not floating. Increase dinner intake. Adjust accordingly. __________________ Blog Posts - Contextual Links - Hardlinks on 600+ Blog Network * Handwritten * 180 C Class IPs * Permanent! * Many Niches! * Bulk Discounts! GFYPosts /at/ J2Media.net

08-09-2013, 10:54 AM	#19
ilnjscb Confirmed User Industry Role: Join Date: Jun 2009 Posts: 8,865	Companies can survive delisting for years but it is very rare that they become growth companies again. Most likely you'll see them go private. They will also be subject to more class action suits by the people who invested based on their IPO. Those are the people who've really lost. The bondholders have access to the EBITDA eventually, and that is a very strong 60m. This kind of complex shit is frowned upon by regulators and courts though, who might side with plaintiffs and see it as a 50m skim job. Those suits might succeed, and if so the judgments might be placed senior to the bondholders. Either way a company with a 60% gross margin and 20% EBITDA will not go away tomorrow.

08-09-2013, 10:57 AM	#20
mikesouth Confirmed User Industry Role: Join Date: Jun 2003 Location: My High Horse Posts: 6,334	my blog had this story day fo yestiddy yall.... __________________ Mike South It's No wonder I took up drugs and alcohol, it's the only way I could dumb myself down enough to cope with the morons in this biz.

08-09-2013, 11:01 AM	#21
pornguy Too lazy to set a custom title Industry Role: Join Date: Mar 2003 Location: Homeless Posts: 62,911	They jumped 40 cents a share in the last 5 weeks or so but going down again. __________________ PornGuy skype me pornguy_epic AmateurDough The Hottes Shemales online! TChicks.com \| Angeles Cid \| Mariana Cordoba \| MAILERS WELCOME!

08-09-2013, 11:11 AM	#22
Klen Industry Role: Join Date: Aug 2006 Location: Little Vienna Posts: 32,235	No wonder,i recently did some biz with them and i was horrified how they do business,i did business with thousand people/companies and nobody horrified me as aff lol

08-09-2013, 11:27 AM	#23
fris Too lazy to set a custom title Industry Role: Join Date: Aug 2002 Posts: 55,363	how much do they owe to investors? __________________ Since 1999: 69 Adult Industry awards for Best Hosting Company and professional excellence. WP Stuff

08-09-2013, 11:35 AM	#24
dillonaire Confirmed User Join Date: May 2009 Location: San Francisco Posts: 1,795	hummmmmm......my gf (she works for AFF) decides to move in with me and the next day they get delisted. Hopefully its a coincidence, but i did work for Private at the time when they got delisted. Maybe im bad luck to be around publicly traded companies. __________________ . "Deja moo - The feeling you've heard this Bull before." Skype: jeffreydillon Email: [email protected]