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#1 2009-09-10 4:54 am
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- From: Björk, Björk
- Registered: 2001-05-14
- Posts: 28541
Pirate Bay sale now doubtful
A Swedish stock exchange has banned Global Gaming Factory X from offering its shares there after concluding the company "misled" investors about its ability to purchase The Pirate Bay.
AktieTorget, the Swedish stock market where shares of Global Gaming once traded, said a disciplinary group found it had "provided false information," displayed "a lack of accountability," and "seriously violated" the exchange's transparency principles.
A report issued by AktieTorget's disciplinary group called into question most of Global Gaming's public statements since June, when the software company and operator of Internet cafes first announced it would acquire The Pirate Bay, a popular BitTorrent search engine. The banishment by AktieTorget, which last month suspended trading in Global Gaming's shares, is without a doubt the most serious barrier yet to Global Gaming's acquisition of The Pirate Bay.
The story of Global Gaming's acquisition of The Pirate Bay now seems less about whether the company actually will ever take control and more about whether anyone involved will be accused of a crime.
..
Pandeya has said that he will guarantee the purchase of The Pirate Bay with his own personal funds or secure a loan with his shares in Global Gaming. But Pandeya's personal financial troubles are now famous in Sweden. In recent weeks, photos of his car, boat, and motorcycle being hauled away by debt collectors have been splashed on front pages throughout the country.
As for his shares of Global Gaming, it is unclear whether they are worth anything since the stock is no longer trading anywhere.
If all economists were laid end to end, they would not reach a conclusion - George Bernard Shaw
"Fire up a colortini, sit back, relax, and watch the pictures, now, as they fly through the air."
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#2 2009-09-26 7:36 am
Re: Pirate Bay sale now doubtful
What I don't understand about all these companies coming along with big ideas about how they're going to purchase The Pirate Bay is what the Hell do they think they're going to do with it once they've got it?
The Pirate Bay can't keep doing business in its current form, because the lawsuits will never end.
Most of the business plans we see from these pie-in-the-sky companies that want to take over TPB and similar sites or services usually involve some sort of claim that they're going to cut a deal with "the entertainment industry" which will enable users to legally download movies and music.
How, exactly, this would be accomplished is never explained in much detail. Why? Because it can't be done!
I'm guessing these various would-be Pirate Bay purchasers are more interested in owning the site's domain name than anything else. What they fail to grasp is that the name by itself will not be a cash cow if they fundamentally change what the site offers, and in order to stay out of court, that's exactly what they'd have to do.
Buncha dummies.
In other news, Demonoid is currently in the midst of a very long, non-lawyer-induced service outtage.
"It's better to be a pirate than to join the Navy."
--Steve Jobs
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