A bungled con-job by CEO Paul Thomas Johnson, 40, and CFO Parrish Jones, 39. Both tried to make up numbers to attract venture capital. In dark times like these i suppose a shitty company needs all the made up numbers they could possibly get. Here is what they “faked”
2006, true $500K, false $4M
2007, true $1.4M, false $6.2M
2008, true $1.7M, false $5.2M
The false revenue numbers were used to attract approximately $50 million in investment, which includes about $19 million from Ignition, a VC firm based in Washington.
I take this particularly personally because these fruitcakes ruin the market for everyone else. If my startup is ever asked to produce “certified true copies” or go through an audit, i will know to curse this 2 morons to hell. THe very least they could do is not get caught. flipping incompetent twits.
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Because of the constant pattern in rising costs and the financial meltdown, individuals are beginning to pay more consideration to their funds and spending. All over the place round us, we observe this pattern in the altering world.