Adultshop will Nachforschungen einleiten - 500 Beiträge pro Seite

[spitzohr]

Heute ein Bericht in thewest.com.au, das Adultshop beabsichtigt gegen die Verbreitung von böswilligen Gerüchten
eventuell auch von ehemaligen Angestellten in deutschen Boards nachzugehen.


Raid problem for AdultShop

By Sue Peacock







NEWS that it was under investigation by the corporate watchdog this week threatened to derail a crucial acquisition for online sex products retailer AdultShop.com.

The $12 million cash and scrip purchase of online adult entertainment business Today`s Success Pty Ltd was due to have been completed last night but not before the vendors expressed concern at the seizure of documents from the Northbridge-based company 11 days ago.

Speaking after a shareholders meeting to approve the deal, AdultShop.com managing director Malcolm Day said the company had not been told why it was under investigation by the Australian Securities & Investments Commission or how long the investigation might last.

It comes at a difficult time for the erotic e-tailer, which has been trying to rein in its cash burn rate by axing staff and slashing marketing budgets. The company had hoped to break even in August following the acquisition of Today`s Success Pty Ltd.

Mr Day said AdultShop.com had voiced concerns with ASIC about the negative impact of such scrutiny during a week when 14 staff were laid off and the company was trying to close the Today`s Success deal.

"Their response has been they understand the commercial impact on the company, and they`d hope to conclude their investigation as soon as possible," he said.

ASIC officers first visited AdultShop.com`s corporate headquarters on June 19 after conducting a series of formal interviews to gather evidence about the company`s affairs.

The fall-out from the investigation continued at yesterday`s meeting when resolutions to increase directors fees and issue remunerative options to them were withdrawn.

AdultShop.com chairman Reg Gillard told shareholders a cloud of uncertainty had hovered over the company since the ASIC visit.

"The directors believe that due to that uncertainty and the potential for damage to negotiations and relationships with third parties that it is in the best interests to withdraw those resolutions," he said.

Asked by shareholders what had triggered the ASIC probe, Mr Gillard said he believed disgruntled former employees peddling rumours on a German Web site were to blame.

"The tenor of those comments was scurrilous, malicious and defamatory," he said.

The company was seeking to track down those responsible.

"I can assure you if we find the identity of those people, and we have a sustainable charge against them, we will be proceeding with legal action."

Mr Gillard said the company was cooperating with ASIC and believed the investigation posed no cause for concern.

Shareholders were more concerned about the company`s financial position, with Mr Day revealing it had about $2 million in the bank at June 29.

"We haven`t seen a cent yet from you people, are we ever going to see any income?" asked one.

Mr Day said he had recently taken a $40,000 pay cut on his $230,000 annual salary package and directors fees had been quarantined in a trust until the company was cash flow positive.

He told shareholders it was a day for celebrating as the Today`s Success transaction - which involves $1 million in cash - would deliver substantial profits to the company and allow it to break even.

Unaudited figures provided to shareholders in April show Today Success posted revenue of $9 million and earnings before tax of $2.45 million to June 30, 2000. The vendors projections for the year to June 30, 2001 are for $18 million in revenue and $4.2 million in earnings before tax.

Questions were asked about where AdultShop.com had spent the $20 million plus it had raised since its formation in July 1999 and whether any money had gone into a luxury $23 million apartment complex backed by Mr Day and fellow AdultShop.com director Rod Smith on Bellevue Terrace abutting Kings Park.

"That is a private transaction by two of our directors, there is no company money in there whatsoever," said Mr Gillard in response.

Shares in AdultShop.com closed 1¢ lower at 17¢.

Gruß

Spitzohr

[metisdo]

HI,
ich denke, da sind nicht nur ehemalige Angestellte gemeint.

Die Richtung der ASIC Untersuchung kristallisiert sich so
langsam durch.
Ich glaub zwar nicht, dass Eric aufs Korn genommen wird, aber aussagen wird er wohl müssen.
CT und NH habens sicher hinter sich (die aussagen)

metisdo