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The company had also indicated that it lacked existing cash or cash from operations to repay a .5 million debt that was due July 31.
It has cautioned that, unless it can repay or restructure its obligation, it will face “a material deficiency in our short term liquidity.” With these shortfalls in mind, the company again announced an intention to make an initial public offering of stock, representing a 49% stake in the company, with plans to use the proceeds to pay down its debt and become listed on the New York Stock Exchange.
I’d say it’s useless, but my mother taught me that nothing is useless - it can always serve as a pitiful example to others.
This app would have to improve to even be that, but it’s good to have goals.
Much of the company's growth without investment capital has been attributed to its affiliate program, with more than 500,000 affiliates to date.
As of January 17, 2010, Friend Finder Networks had a negative net worth equal to 8 million, million in cash on hand and 0 million in liabilities.
Friend Finder was launched in 1996 by Andrew Conru.
To achieve that, we have built a sophisticated yet simple system for creating profiles and filtering your searches on our website to match you only with the potential partners that are sure to share all your passions, drives, and kinks, so as not to get you disappointed by any chance.
Regardless of the reasons, we resent the idea of someone having to go to bed alone without having someone else’s warmth to enjoy or whatever one may enjoy doing in bed. Many of us have had a somewhat disappointing experience with finding a date or having to watch it go wrong or not the way we had expected it to turn out.
The chances of such experiences reduce dramatically with our service!
Friend Finder Networks (formerly Various, Inc.) is an American internet company founded in 1996 by Andrew Conru.
Its corporate headquarters are located in Boca Raton, Florida, with additional offices in California, New York, and Taiwan.