***ALL RUMORS ASIDE***
FBNI, IMO is ready for a turn around, they have been in debt for some time, and the reason they have been on such a decline IMO, is that the bashers and shorters, have continually used these pieces of information to send the stock plummeting.
ragingbull.lycos.com
biz.yahoo.com
biz.yahoo.com
But now all that will hopefully change, due to this:
On April 6, 2001 Legend Communications of Wyoming, LLC the owner of multiple radio stations, and F2 Broadcast Network Inc signed final documents for Legend Communications' acquisition of KGWY in Gillette, Wyoming for $1.9 million, including land, building, antennae, and licensing. Of the $1.9 million, $570,000 is in the form of a note receivable and approximately $500,000 will be used to pay existing debt related to the radio assets. The parties have executed the definitive sales agreement, and pending FCC approval is expected within the next few days.
The company believes that this cash infusion, which along with the pending sale of "The Comedy Works" comedy club leaves the company virtually debt free, and allows F2 to pursue its core competence in Internet Video Production, web-casting, and software development.
biz.yahoo.com
Here are the filings of the deal above that are waiting for the FCC approval, that could come any day now.
svartifoss2.fcc.gov
This is also something that IMO, needs to be kept in mind.
The company has totally streamlined its plans to focus on this core competency which can create immediate revenue.
biz.yahoo.com
then this
E-mercials: F2 Broadcast has been engaged by several of the largest golf equipment manufacturers in the industry to produce Internet-based commercials
<em>We have yet to hear about those possible deals </em>
biz.yahoo.com
This most likely is just the start of FBNI's new ventures, I would venture to say that others are just starting to look at FBNI and wondering if they can utilize FBNI's technology in their business, just imagine all the new business contacts FBNIs management have met while working with the PGA across the country and world.
ragingbull.lycos.com
The Internet Broadcast division is expected to post estimated revenue of $195,000, up from $9,030 in the same period for the previous year. Expenses for this division are estimated to be $180,000, down from $503,000 for the same period in the previous year.
The projected revenue and expenses is based on accrued advertising, sponsorship and video production that has been contracted, delivered, and/or collected.
``While we are extremely optimistic with what we expect the first quarter 2001 revenue results to be, it is still the sale of the Radio and Live Entertainment assets that will permit us to pay off our debt and forge ahead with a significantly stronger net asset base, and concentrate on our core business model,'' said Howard Stern, CEO of F2 Broadcast.
biz.yahoo.com |
