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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.
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The contemplated public offering, scheduled to reach the market on January 27, 2010 was delayed by FFN.
Friend Finder had not turned a net profit since at least 2008.
Originated in the United States, this dating platform helps its users find suitable sex partners through its many contacting features and functionality.
Adult Friend Finder is open to all types of arrangements, from couple share, polygamy, fuck buddies, monogamy, and many more.Creating an account on this site is free for everyone regardless of age, location, or gender.Just like its sister companies from the Friend Finder Network, it requires an email verification process once finished.Upon signing up, you will be asked to answer a few questions that ask about some of your relevant, basic information.