What's been happening with Maleflixx / Private Media Group?

Webmaster Discussion
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#1

I only just noticed this today in my AVN email newsletter - Court Appoints Eric Johnson Receiver for Private Media Group

So what does this mean? I know Maleflixx has been owned by Private for awhile now… but why is the guy who started (and programmed) Maleflixx now the “court appointed receiver” ?

Steve

#2

Re: What’s been happening with Maleflixx / Private Media Group?

I just read the story this morning as well. I had the same understanding as yourself in regards to Maleflixxx and Private, I’m confused!

#3

Re: What’s been happening with Maleflixx / Private Media Group?

To summarise from the news sites:

(1) There is a dispute about who controls the majority of shares in Private. There are two groups of shareholders, one includes Eric Johnson, Ilan Bunimovitz and others, the other group is Berth Milton and others. This particular dispute relates to some shares that were used as collateral for a loan. The first group has been trying to call an emergency meeting to count shareholder votes.

(2) Private is registered in Nevada, and the court there made a decision in favour of the first group. It’ll be contested in a couple of weeks, and does not mean that Maleflixx/Gamelink/Private are on verge of financial collapse or in ‘official receivership’/chapter 11.

I know people all across the Private group… I hope for their sakes this gets resolved so their hardwork promoting great brands can continue.

#4

Re: What’s been happening with Maleflixx / Private Media Group?

I didn’t think they were have financial issues. That is interesting. Incidentally, my sales with Maleflixxx have increased this Summer (one of the few bright spots), so this news caught my eye.

Steve

#5

Re: What’s been happening with Maleflixx / Private Media Group?

Here’s my take…

  1. Eric is really, really smart and a CPA.
  2. He is the only board member that was appointed to the board by both of the two sides that are fighting. Both Berth and Ilan have approved and appointed him to the board.

Quite honestly, I think he’s the only one that both sides actually trust…

PS: There are two Eric’s at MaleFlixxx…one that did the programming, and one that is the finances/CEO. This is the one that does the finances/CEO.

[QUOTE=desslock;100766]I only just noticed this today in my AVN email newsletter - Court Appoints Eric Johnson Receiver for Private Media Group

So what does this mean? I know Maleflixx has been owned by Private for awhile now… but why is the guy who started (and programmed) Maleflixx now the “court appointed receiver” ?

Steve[/QUOTE]

#6

Re: What’s been happening with Maleflixx / Private Media Group?

Apparently they are trying to get a writ to stay the motion for receivership:

http://www.xbiz.com/news/138032

#7

Re: What’s been happening with Maleflixx / Private Media Group?

It appears that at the moment the company is in a freefall…

#8

Re: What’s been happening with Maleflixx / Private Media Group?

Have you seen the latest…

N.Y. Court Authorizes Attachment of Over $7M in Private Assets
http://business.avn.com/articles/legal/N-Y-Court-Authorizes-Attachment-of-Over-7M-in-Private-Assets-446968.html

#9

Re: What’s been happening with Maleflixx / Private Media Group?

Private Media group looks like it is on life support right about now…

#10

Re: What’s been happening with Maleflixx / Private Media Group?

In general when a court appoints a receiver and/or allows attachments its not looking very good for the defendant. It usually means that the plaintiff is going to win and the judge is protecting assets…