Ding Dong The Witch Nears Death

[RawAlex]

haha, yeah.

Actually, I wouldn't be shocked to see the SEC taking a look at this one, considering that it seems that much of the debt that killed the company was held by Lars and Andrew, who are the ones who "sold" the company to start with. Those notes (rumored at up to 17% interest!) pretty much sucked the life out of the company and killed any chance for investors to make money on the public offering. Simply put, that dog wasn't going to hunt, when most of the income was used to pay interest on a debt that wouldn't go away.

The result? Lars and Andrew did really well on collecting their interest payments every year, and when the company fails, they get it back. The only thing they didn't make out on was the shares, the shot at the truly big money died because it appears they didn't allow the company to be financially viable.