[tree5]

Well, you still need to take its debt into account as well, which I'm assuming Imeem has quite a bit if it sold for so low with 16 million users. A company with $10M in debt, for instance, that's purchased for $2, is really a $12M acquisition.

[sachinag]

It was an asset purchase, not an acquisition, so the debt stayed behind.

[ComputerGuru]

Ouch. That really sucks, because without assets there's no way to pay off that debt. Unless of course they can just file for Chapter 11? I don't know much about finance, but if they can, that would be really, really cheap!