The Latest From STA Management

An e-mail from STA Management was just posted to our back office. I wanted the attornies to see this:

From : SuccessThruAds
Sent on : 3/26/2007 3:19:46 PM

Subject : STA CEASES BUSINESS OPERATIONS EFFECTIVE 3/1/2007
Message:
Dear IBA,

Since late 2005, Success Through Advertising (STA) has experienced severe cash flow problems due to several factors including a lack of sufficient sales. The inability to generate sufficient cash flows to maintain ordinary business operations has resulted in continuing operating losses and the inability to pay debts as they come due. As a result, and with considerable disappointment, STA determined that it could no longer operate and closed its business operations effective March 1, 2007. This decision was announced during our February 27, 2007 conference call.

STA is currently using its best efforts to attempt to sell all its assets in an orderly fashion to realize the highest possible value for its creditors. STA is in preliminary discussions with certain individuals to sell certain intellectual property and other assets of STA. STA is currently providing these individuals with information necessary for them to conduct due diligence related to a possible transaction. It is possible, but not certain, that these individuals may assume certain liabilities of STA. At this time, it is uncertain whether STA will be able to sell sufficient assets to these individuals or any other persons to provide any payment to its creditors.

STA will attempt to maintain its STARetail.biz website and the Back Office during the winding up of its business affairs to allow Independent Business Associates to use their advertising credits and to access their reports. STA will contact you in the future if there will be a distribution to STA creditors OR to provide you with an update of its sale efforts.

Sincerely,
STA Management

What exactly are they saying?