BlueFreeway Loses Money, Fourth Director

BlueFreeway Loses Money, Fourth Director
Another One Bites The Dust

Digital marketing conglomerate BlueFreeway, which recently sacked its management team, has reported a $4m loss for the first half “resulting from high corporate costs, significantly lower than forecast corporate sales and reclassification of items previously capitalised on its balance sheet.” It also raised $3.5m from investors and is looking to slash annual corporate costs from $12m to $4m. Meanwhile, Director Warwick Smith has resigned from the board declaring without trace of irony: “I am confident I am leaving the company in a stable position.” Search Engine Room: March 7, 2008

 

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