Fergie's Tech Blog

.travel Registry Near Death

Edward Hasbrouck reports on The Practical Nomad:

"In a quarterly report filed with the Securities and Exchange Commission last week, theglobe.com said management does not think the company can fund its operations beyond this month unless it receives more money. As of May 4, the company had a cash balance of $480,000. Last quarter it reported a net loss of $2.8 million on revenues of $431,742...."

"The company's finances took a big hit in April when it paid $2.55 million to settle allegations that it sent 400,000 spam e-mail messages to users of MySpace, the popular social networking Web site..."

posted by Fergie @ 5/22/2007 09:22:00 PM