Agency Based Discussion > GLStock

Leaf time to delete GL

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Uncle Pete:

--- Quote from: cthoman on November 04, 2021, 20:46 ---It's a shame about GL. The old owners were awesome, but the new staff really did seem to disappear in the middle of the night with our money. I can't say it was a lot, but there was some. At the same time, they bought into a messed up game that needs some serious overhaul.

--- End quote ---

Older thread with some financial data for GL stock when the new guy bought it and changed the name from Graphic Leftovers.
https://www.microstockgroup.com/graphic-leftovers/glstock-does-not-pay/25/

Someone else posted his personal information or whatever they could find.

Just to make it easy for anyone who doesn't want to read all the old threads. Mr. Shapiro put the site up for sale, opening bid was $5,000 and got no offers that I know of. Then he put it up for sale again, at a higher price, and it didn't sell. Then he pulled the plug and that's where no one got anything, because the company went out of business.

I don't know enough about the laws, but I'd assume that anyone buying the business, wouldn't just get the assets, the software and the data, but they would also get the debt. There's a big problem with that if (hypothetically) I wanted to buy GLstock, and get a bank loan, because the lender would require full disclosure and financial data. How do you pay off the outstanding debt, with an income in the hundreds a month? And then make enough of a profit to keep the business liquid itself?

Unfortunate because it seems that for being one of the small agencies, some people actually liked the place.

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