That's hair piece

Why is no one focusing on the obvious issue that PIERRE WOODMAN IS WEARING A WEDDING RING and may -- I repeat, may -- be committing adultery??

I think I know why Panzer happens to have that picture. I'm betting his back was a donor for Woodman's leg hair transplant.

Could be. But, surely he's wanted by interpol for international buggery.

So far 4 out of 5 XPT's prefer Marie McCray and her brief exposure to accounting at Purdue to Willie's Ivy League credentials.

But, maybe that's not all about accounting.

Is now a good time to buy?

I find it weird that he uses his wife as a translator while filming the casting

I'm really pleased to think that the perverts on this board would think the Admiral might have something illuminative to offer on this topic. Thanks, Superloads.

Although I am not a fake accountant, I am a fake lawyer and in the course of my fakery sometimes I am involved in fake M&A cases, offerings of fake shares, and fake workouts and bankruptcies.

A notation like that in the financial statement of a corporation is a screaming red flag: This company is bankrupt. Run away!

Certainly now is not a good time to buy shares in PRVT. With cash flow like that over a sustained period, this company faces either liquidation or reorganization unless they can pull a rabbit out of their hat by finding some big new money-making content-distribution channel, dumping costs (e.g., firing employees, spending less on content production, etc.) or selling what remaining hard assets they can shift. Maybe they're shopping some of their catalog even now for a quick cash fix.

In a liquidation the company will be killed and its assets (mainly its vast library of back-catalog videos and print publications) will be sold off in order that the creditors might recover some pennies on the dollar. Look for Private's catalog to end up on an aggregator site like VideosZ if it's not there already.

In a reorganization, the existing share capital of the company will most likely be written down to zero (including the shares you just bought for 80¢, sucker) in a "capital reduction", and new shares will be issued to a new investor who will take over the company. Some of the share subscription price will be paid to the creditors in accordance with the receiver's reorganization plan (pennies on the dollar again), and then the new owner will have to arrange some working capital either in the form of subscription for new shares or a loan to PRVT guaranteed by the new shareholder.

NASDAQ may de-list a corporation if its shares trade below the NASDAQ's minimum bid price of $1.00 per share for a period of 30 days or more. PRVT went under a dollar sometime in February of this year and has stayed there continuously. Definitely PRVT is in danger of de-listing, which will make its shares pretty illiquid even if the company escapes liquidation or reorganization.

You can read more about de-listed shares on Investopedia.

There are TONS of Private titles on VideoBox, fwiw. But, this isn't a new thing.

Can you make money shorting a stock like this? How difficult would it be to find someone to take a naked put?

To short a stock, you need to find a counterparty. This is doubtful with a company (i) in danger of being delisted and moving to the pink sheets and (ii) a qualified opinion from their auditor, which is basically a death sentence for a business trying to look for financing. Not to mention that Berth and his affiliated companies are on the hook for a E4MM loan from Commerzbank.

In a liquidation, equity holders are last in line behind secured creditors, bond holders, and unsecured creditors. But by all means, dump all your money into this pig. Or you could put half into Defiance Pictures. I hear they are really doing well now.

I only have experience with covered calls. It figures that there's not get-rick-quick schemes. I remember walking by the Toronto Stock Exchange when the Bre-X gold scandal hit in 1996, I think. Just a continuous string of sells going across the board in freefall. (Bre-X had incredible "luck" finding gold in Indonesia or something until it was discovered that the results were spiked. A geologist was inserting gold to make it appear as if they struck it big.) I didn't own shares but it was fascinating to see a darling of the industry implode in a matter of minutes. Fortunes were lost that day. Books were written. Massive fraud that was unprecedented.

The only difference between Private and every other porn company is that Private is public and must make these things known. I doubt other companies, the few still afloat, are doing much better.

They'll wind up just like Anabolic, Red Light District and the others that were big a couple of years ago and are now gone.

But someone must be doing well, like the Brazzers brothers.