They had ad-revenue of like 70K trailing and projecting like 500K. It was a sign of the times, I guess.
Actually I had read that their advertising rates were unheard of in the publishing world. It's why they gave the magazine away for free. It was a highly sought after demographic for advertisers. Acc income was 400k. According to wiki it has a circulation of 150k globally. It prob could never get enough scale to cover the overhead. In the end it was an idiotic magazine. No substance and not nearly as entertaining as Maxim.
Thanks for the mention. Yes, I remember buying the futures around 5 am on that steamy summer morning when London was attacked. Saw a double-decker bus ripped open but then thought, shit is that all they got? It was a 7-figure day up, and then I reversed EOD... lost all profits and more the next 2 days. Went down to the Cape, flipped on the TV, saw all green on friggin' CNBC and wondering WTF? That was before the really bad sh*t came down 4 months later.