Update on Schoolpop.
Spent some time with the latest financial filings this morning. I'd be very, very leery of fronting any dollars to this firm for scrip. If you're preparing for a big back-to-school rush, you're highly advised to make sure you're not counting on (and certainly not
solely counting on) Schoolpop.
Takes a bit of reading here, but here's the link to the most recent SEC information:
www.sec.gov/Archives/edgar/data/1013690/...0/loyaltypoint8k.htm
In last month: the CEO, the CFO and two directors have resigned. Here's the most relevant text:
"At the current time, the Company is exploring certain strategic alternatives, including the following:
·
The sale of all or substantially all of its assets. Even if a sale is consummated, it is unlikely that there will be any distributions to stockholders."
I'd be very surprised to see this company in business at the end of 2005.
Tim