Originally Posted by Allen-deckard
Dont forget that they had advertisers pay 3 months in advance the last month then never printed the mag. They also stiffed the printer for three months prior never paying them then got a new printer and stiffed them. On top of that they never payed the staff and didnt pay bb for the mag tobegin with nor did they pay the owner of the lost soul for its use.
Point taken, from all that we have seen thus far the NOs appear to be scumbags but I don't know if they set out to deceive. Hey, maybe they did but I cannot figure out why. I wish I knew how much advertising revenue L&A took in each month it would give a better perspective but as a deliberate con, if it was a deliberate con they sure as hell aimed low.
I'm reminded somewhat of that old joke with the punchline "We have established what you are, madam. We are now merely haggling over the price." If I was to rip you off i'd at least want to do it for a decent sum of money.
I do feel sorry for BB and J but the whole thing has an air of desperation about it. Commission the building of a big expensive yacht when you don't have the cash to pay for it then default losing both boat and whatever you have already poured into it ? Sell the magazine with no money upfront ? Lease your boat to someone with no money up front ? Pay advertising three issues in advance ? Print a magazine when you are already owed two months back ? Print a magazine for a new customer with no money up front ?
Hey, I know things are tough out there but every one of those decisions has the word DUMB stencilled across its forehead.
So that why my guess is at it is. The NOs didn't have any capital to begin with and thought they could be cashflow positive right from the start while BB and J were desperate to escape their own financial meltdown. (see above under DUMB). When they realised they had well and truly cocked up and had zero chance of pulling it off they, the NOs, sleazed their way out as best they could but I betcha there was not much in the tank when they did. As a further guess, the advert money in advance went to pay the printers bills from four and five months back.