Quote:
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It has also reached a settlement with Marc Bell and Daniel Staton, who hold $10.6 million in cash pay second-lien notes and own about 34% of the company’s common stock. The two also serve as non-executive co-chairmen of the company’s board of directors.
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Some may remember Bell and Staton from the iBill debacle (where do you think they got the money to concoct this whole mess in the first place?)...those two should probably be behind bars.
We're still just hearing the FFN positive PR trying to put a good spin on their bankruptcy (FFN has been singing a rosy tune from when they launched their public stock at $10, only to watch it rapidly crash and burn).
There are still big lawsuits which will not be dismissed simply because Andrew and the crooks he got into bed with have tried yet another desperate trick to remain afloat.
I hope the public investors are able to get some sort of justice, and that the crooks at FFN are exposed, and eventually made to pay for ripping people off, and contributing in a massive way to piracy and the decline of the adult industry.
ADG