Wednesday, April 1, 2009

Active Goes Bankrupt

Active is bankrupt. Our source picked up Active’s Chapter 11 bankruptcy filing which explains how Active’s rapid expansion over the past few years required significantly more investment and financial resources - while revenues essentially stayed the same.

As a result, Active is projected to record a $7.7 million loss for the fiscal year ending March 31st. See a chart below which shows the dollar amounts Active owes to certain companies - Nike’s at the top with $1, 494, 757 million owed.

Klik HERE for more info.

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