Remember the Psychic Friends Network? The company rode the boom in infomercials in the early-1990s, $3.99/minute charges and Dionne Warwick’s mysterious allure to a $23 million profit in 1995. Three years and one Stephen Glass Harper’s feature later, the company filed for bankruptcy, claiming $1.2 million in assets against $26 million in liabilities.
Well, the future is back. According to an investor presentation filed with the Securities and the Exchange Commission yesterday, Psychic Friends Network is gearing up for a second act; in fact, PFN 2.0 is already in soft launch, with—pending a capital raise—a full marketing campaign planned for early next year. Read More