Comments on: When’s a business not a business?

By: Jim Metrock

Jim Metrock — Thu, 23 Aug 2007 22:47:16 +0000

Alloy said in their SEC filing that they took over the assets of Channel One and assumed certain liabilities and that both figures were virtually EQUAL. This means Channel One had zero net worth.
As a major opponent of Channel One for over ten years I was shocked that no one from Alloy had contacted me before their “purchase” of Channel One from Primedia because this indicates to me they didn’t do a very good due diligance inquiry.
What does it mean that the SEC won’t register Alloy’s filings until they publish Channel One financial reports?
Jeff D. is right to question Alloy’s purchase without looking at financial statements.

By: Jeff D

Jeff D — Tue, 07 Aug 2007 19:23:59 +0000

So even though Alloy was paid to take Channel One, they would have us believe they didn’t review the books before agreeing?

By: Frank Graham

Frank Graham — Tue, 07 Aug 2007 16:48:23 +0000

Ha, another old trade fave as Alloy Online before they did a 1:4 RS in 2/06. Didn’t know
they picked up the school channel. Don’t hear much about that thing lately since they have ties with NBC now. It used to be covered a lot by local press.
Alloy has 601 employees listed which seems a lot for such an operation. Only 169 bagholders but not a large O/S. Stock price at a Yr Low.
Found this Knobias hit amusing. Always suspicious when a company focuses more on gaming the system than running the Co. Guy also used to be at Trans Union Credit.
“Alloy, Inc. (ALOY) announced that Joseph Frehe has been promoted to Chief Financial Officer effective as of July 30, 2007. Mr. Frehe joined Alloy in 2000 and most recently served as Senior Vice President of Finance managing all corporate finance functions, including SEC reporting.”