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It hasnt really been mentioned but I guess the SEC disclosures will list the cash outlay vs the stock option value in the 3 Million number. If only a portion of the $3M is in actual cash, then Penthouse really got this on the cheap. Like Shap pointed out, Danni.com is really a distressed property right but if they got it without having to put up alot of cash, the downside to this deal is not as low as the highside if they do a turnaround. I have followed Danni.com probably closer than the average bear here since our company has history with them, and for the longest time have looked to be hurting.
Congrats to Penthouse on the pickup. You guys work magic there as well as your print title, you should be crowned the turnaround artists of Adult.
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