Quote:
Originally Posted by AsianDivaGirlsWebDude
Various, Inc, the company which owned AFF, and was purchased by the Penthouse Media Group, had been losing tens of millions a year, in the years prior to the sell.
While their was and is, lots of income, it was not a profitable business in recent years, and it is still not profitable.
From the FFN Prospectus (click on the link to see the entire FFN Prospectus):
We have historically generated significant net losses. As of September 30, 2009, we had an accumulated deficit of approximately $173.6 million. For the nine months ended September 30, 2009, we had a net loss of $27.4 million. For the years ended December 31, 2008, 2007 and 2006, we had net losses of approximately $46.0 million, $29.9 million and $49.9 million, respectively.
From another financial journal today:
ADG |
For fuck sakes stop lecturing everybody when you don't understand shit. Honestly.
These are PENTHOUSE (FFN) losses not Various Inc's. Various Inc was a private company and at such did not release its earnings.
What we know from the S-1 filling is that since acquiring Various Inc FFN's operating profits are $45 million (AFF profits likely higher since Penthouse mag will be losing money) but they swing to a net loss chocking on the interest payments of $75 million on the debt incurred buying out Various Inc.
Not saying this is a good investment, far from it, but one thing is for sure, you don't know shit about LBOs or reading S-1 filings.
