loser.JPGIt has been a great year with full of joy and tears. Let's have a look at the companies which bought a ticket to Hell.

Experience That Does Not Work

Seamless Wi-Fi, Inc. probably the biggest loser of the year. A gang made up of six aged lads pushed hard their business model to the limits. And they’re not yet to give up. You may wonder what on earth they’re doing? According to they motto these three old-school businessmen are creating the future of wireless.

So far, they’re strategy seems not to be working. The 3rd quarter report said the revenues went down by 35 per cent.

Operating expenses decreased by approximately 58% from $480,224 for the three months ended September 30, 2006 compared to $818,348 for the three months ended September 30, 2007.

Cash and cash equivalents totaled $1,965,395 and $666,409 at September 30, 2007 and 2006, respectively. Net cash used by operations was $(362,014) for the period ended September 30, 2007 compared to net cash used by operations of $(739,911) for the comparable period ended September 30, 2006.

Snake Oil Products


The other big loser this year was Marshall Holdings, Inc. A producer of Snake Oil products, seems to be getting to much confidence with their goods as they publicly announced about their global expansion to Europe. The only ace that left for the top heads – try to secure deals in Europe as they failed to prove their products in the U.S market.

Given the fact that the company has a $13 million debt hanging on the company’s shoulders, I would doubt about the company’s future prospectus in Europe.

The 3rd quarter results say it everything. Sales were down by 72% comparing to the same period in the last year. Gross profit as a percentage of sales decreased to 43% in 2007 from 69% in 2006.


‘Wacko Jacko’ Fan

And finally our last nomination goes to the true Michael Jackson fan - CEO of UNIVERSAL EXPRESS (USXP) – Richard Altomare. His coporate ‘suing machine’ and an auction of Jackson’s memoriblia at sky-high prices proved the only fact - his all empire is going right to Hell.

The USXP's auction produced only $600,000 in total. Representing a huge disappointment to the expectations this company has been setting forth. This is more than 98% less than what they were claiming that this old junk could be worth $30,000,000 to $200,000,000.

It has come to our attention that USXP has joined the Punk Sheeters club recently.