Mandrake in trouble

[Nikos Charonitakis]

by: jseyffer_de (41/M/Jengen,Bayern) 

Linux maker Mandrake:

We need cashFor the second time this year, the company
has exhorted loyal customers to help it raise the
funds to overcome a cash crunch
Linux seller MandrakeSoft issued a plea for cash
Friday, encouraging people to buy products,
MandrakeClub memberships or company stock.

The company, based in Paris but drawing much of its
revenue from North America, needs $4m (about £2.6m) to
pay debts and cover expenses in order to attain
profitability. It's the second time this year the
company has sought help from its customers.

Specifically, the company asked customers to join the
MandrakeClub or upgrade their membership level. The
members of the club get access to more software,
quicker downloads and special promotions.

MandrakeSoft estimated it could meet the current cash
hurdle if 20,000 of the company's estimated 200,000
customers signed up for a silver-level membership,
which costs $120 per year.

The company also suggested customers buy products or
company stock. Current shareholders may purchase stock
at about $2.10 per share through a warrant operation,
the company said.

complete story
http://news.zdnet.co.uk/story/0,,t269-s2127932,00.html



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