SEC Filings

Form S-1/A
FRIENDFINDER NETWORKS INC. filed this Form S-1/A on 03/26/2009
Document Outline
Entire Document (7083.8 KB)
Subdocument 1 - S-1/A - AMENDMENT 1 TO FORM S-1
Page 1 - UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Page 2 - SUBJECT TO COMPLETION, DATED MARCH 26, 2009
Page 3 - TABLE OF CONTENTS
Page 4 - PROSPECTUS SUMMARY
Page 5 - Our Competitive Strengths
Page 6 - Our Strategy
Page 7 - THE OFFERING
Page 8 - Summary Consolidated Financial Information and Other Financial Data
Page 9 - N/A
Page 10 - N/A
Page 11 - N/A
Page 12 - RISK FACTORS
Page 13 - We have never generated significant revenue from internet advertising and may not be able to in the
Page 14 - Our business depends on strong brands, and if we are not able to maintain and enhance our brands, ou
Page 15 - Continued imposition of tighter processing restrictions by credit card processing companies and acqu
Page 16 - We may be held secondarily liable for the actions of our affiliates, which could result in fines or
Page 17 - We have a history of significant operating losses and we may incur additional net losses in the futu
Page 18 - Most of our revenue is currently derived from subscribers to our online offerings and a reduction in
Page 19 - Our business involves risks of liability claims arising from our media content, which could adversel
Page 20 - We may not be able to protect and enforce our intellectual property rights.
Page 21 - If we do not diversify, continue to innovate and provide services that are useful to users and which
Page 22 - Changes in government laws could materially adversely affect our business, financial condition and r
Page 23 - We could be held liable for any physical and emotional harm caused by our members and subscribers to
Page 24 - If one or more states or countries successfully assert that we should collect sales or other taxes o
Page 25 - Unforeseen liabilities arising from our acquisition of Various could materially adversely affect our
Page 26 - In pursuing future acquisitions we may not be successful in identifying appropriate acquisition cand
Page 27 - We face the risk that additional international expansion efforts and operations will not be effectiv
Page 28 - If we do not maintain certain financial ratios, satisfy certain financial tests and remain in compli
Page 29 - Our business will suffer if we lose and are unable to replace key personnel or if the other obligati
Page 30 - Workplace and other restrictions on access to the internet may limit user traffic on our websites.
Page 31 - Industry reports may not accurately reflect the current economic climate.
Page 32 - Public interest group actions targeted at our stockholders may cause the prevailing market price of
Page 33 - We do not expect to pay any dividends for the foreseeable future. Investors in this offering may nev
Page 34 - N/A
Page 35 - FORWARD-LOOKING STATEMENTS
Page 36 - MARKET AND INDUSTRY DATA
Page 37 - USE OF PROCEEDS
Page 38 - N/A
Page 39 - DIVIDEND POLICY
Page 40 - CAPITALIZATION
Page 41 - N/A
Page 42 - DILUTION
Page 43 - N/A
Page 44 - UNAUDITED PRO FORMA FINANCIAL DATA
Page 45 - Notes to the Unaudited Pro Forma Consolidated Statement of Operations
Page 46 - N/A
Page 47 - SELECTED CONSOLIDATED FINANCIAL DATA
Page 48 - N/A
Page 49 - N/A
Page 50 - MANAGEMENT S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND
Page 51 - Our History
Page 52 - Entertainment Revenue
Page 53 - Product Development
Page 54 - Interest Expense, Net of Interest Income
Page 55 - Valuation of Goodwill, Identified Intangibles and Other Long-lived Assets, including Business Combin
Page 56 - Legal Contingencies
Page 57 - Results of Operations
Page 58 - FriendFinder Networks Inc. and Subsidiaries
Page 59 - Depreciation and Amortization.
Page 60 - Net Revenue.
Page 61 - Product Development.
Page 62 - Impairment of Goodwill.
Page 63 - Cost of Revenue.
Page 64 - Loss on Modification of Debt.
Page 65 - Selling and Marketing.
Page 66 - Provision for Income Taxes.
Page 67 - Churn.
Page 68 - General Audience Social Networking Websites
Page 69 - Financing Activities
Page 70 - 2005 Notes
Page 71 - Subordinated Term Loan Notes
Page 72 - Second Lien Subordinated Secured Notes
Page 73 - Subordinated Convertible Notes
Page 74 - Contractual Obligations
Page 75 - Off-Balance Sheet Transactions
Page 76 - N/A
Page 77 - N/A
Page 78 - Quantitative and Qualitative Disclosures about Market Risk
Page 79 - Inflation
Page 80 - Determination of the Useful Life of Intangible Assets
Page 81 - OUR INDUSTRY
Page 82 - Source: comScore, February 2009
Page 83 - Source: Euromonitor, February 2009
Page 84 - N/A
Page 85 - BUSINESS
Page 86 - N/A
Page 87 - Our Strategy
Page 88 - Our Products and Services
Page 89 - N/A
Page 90 - Website Data
Page 91 - Internet Privacy
Page 92 - Premium Content Websites
Page 93 - Payment for Our Internet Products and Services
Page 94 - Marketing
Page 95 - Online Advertising
Page 96 - Employees
Page 97 - N/A
Page 98 - Legal Proceedings
Page 99 - N/A
Page 100 - N/A
Page 101 - MANAGEMENT
Page 102 - The Producers, Hairspray, Jersey Boys,
Page 103 - Barry W. Florescue
Page 104 - Board Committees and Independence
Page 105 - Compensation Committee
Page 106 - Executive Compensation
Page 107 - Role of Executive Officers in Compensation Decisions
Page 108 - Base Salary
Page 109 - Long-Term Equity Incentive Compensation
Page 110 - Retirement Benefits
Page 111 - Accounting for Stock-Based Compensation
Page 112 - Executive Employment Agreements
Page 113 - Anthony Previte.
Page 114 - Potential Payments Upon Termination or Change in Control
Page 115 - Equity Compensation Plan Information Table
Page 116 - Indemnification Agreements with Directors and Officers
Page 117 - PRINCIPAL STOCKHOLDERS
Page 118 - N/A
Page 119 - N/A
Page 120 - CERTAIN RELATIONSHIPS AND RELATED PARTY TRANSACTIONS
Page 121 - Security Holders Agreement
Page 122 - Purchase of Series B Common Stock by Strategic Media I LLC
Page 123 - Consulting Agreements
Page 124 - Certain Affiliate Payments
Page 125 - DESCRIPTION OF CAPITAL STOCK
Page 126 - Series B Convertible Preferred Stock
Page 127 - Warrants
Page 128 - Transfer agent and registrar
Page 129 - Requirements for Advance Notification of Stockholder Nominations and Proposals.
Page 130 - DESCRIPTION OF INDEBTEDNESS
Page 131 - Subordinated Term Loan Notes
Page 132 - First Lien Senior Secured Notes
Page 133 - Second Lien Subordinated Secured Notes
Page 134 - Subordinated Convertible Notes
Page 135 - N/A
Page 136 - SHARES ELIGIBLE FOR FUTURE SALE
Page 137 - Equity Plans
Page 138 - CERTAIN MATERIAL U.S. TAX CONSIDERATIONS
Page 139 - Gain on Disposition of Common Stock
Page 140 - UNDERWRITING
Page 141 - No Sales of Similar Securities
Page 142 - Determination of Offering Price
Page 143 - LEGAL MATTERS
Page 144 - INDEX TO CONSOLIDATED FINANCIAL STATEMENTS
Page 145 - REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM
Page 146 - FRIENDFINDER NETWORKS INC. (FORMERLY KNOWN AS PENTHOUSE MEDIA GROUP INC.)
Page 147 - FRIENDFINDER NETWORKS INC. (FORMERLY KNOWN AS PENTHOUSE MEDIA GROUP INC.)
Page 148 - FRIENDFINDER NETWORKS INC. (FORMERLY KNOWN AS PENTHOUSE MEDIA GROUP INC.)
Page 149 - FRIENDFINDER NETWORKS INC. (FORMERLY KNOWN AS PENTHOUSE MEDIA GROUP INC.)
Page 150 - FRIENDFINDER NETWORKS INC. (FORMERLY KNOWN AS PENTHOUSE MEDIA GROUP INC.)
Page 151 - FRIENDFINDER NETWORKS INC. (FORMERLY KNOWN AS PENTHOUSE MEDIA GROUP INC.)
Page 152 - FRIENDFINDER NETWORKS INC. (FORMERLY KNOWN AS PENTHOUSE MEDIA GROUP INC.)
Page 153 - FRIENDFINDER NETWORKS INC. (FORMERLY KNOWN AS PENTHOUSE MEDIA GROUP INC.)
Page 154 - FRIENDFINDER NETWORKS INC. (FORMERLY KNOWN AS PENTHOUSE MEDIA GROUP INC.)
Page 155 - FRIENDFINDER NETWORKS INC. (FORMERLY KNOWN AS PENTHOUSE MEDIA GROUP INC.)
Page 156 - FRIENDFINDER NETWORKS INC. (FORMERLY KNOWN AS PENTHOUSE MEDIA GROUP INC.)
Page 157 - FRIENDFINDER NETWORKS INC. (FORMERLY KNOWN AS PENTHOUSE MEDIA GROUP INC.)
Page 158 - FRIENDFINDER NETWORKS INC. (FORMERLY KNOWN AS PENTHOUSE MEDIA GROUP INC.)
Page 159 - FRIENDFINDER NETWORKS INC. (FORMERLY KNOWN AS PENTHOUSE MEDIA GROUP INC.)
Page 160 - FRIENDFINDER NETWORKS INC. (FORMERLY KNOWN AS PENTHOUSE MEDIA GROUP INC.)
Page 161 - FRIENDFINDER NETWORKS INC. (FORMERLY KNOWN AS PENTHOUSE MEDIA GROUP INC.)
Page 162 - FRIENDFINDER NETWORKS INC. (FORMERLY KNOWN AS PENTHOUSE MEDIA GROUP INC.)
Page 163 - FRIENDFINDER NETWORKS INC. (FORMERLY KNOWN AS PENTHOUSE MEDIA GROUP INC.)
Page 164 - FRIENDFINDER NETWORKS INC. (FORMERLY KNOWN AS PENTHOUSE MEDIA GROUP INC.)
Page 165 - FRIENDFINDER NETWORKS INC. (FORMERLY KNOWN AS PENTHOUSE MEDIA GROUP INC.)
Page 166 - FRIENDFINDER NETWORKS INC. (FORMERLY KNOWN AS PENTHOUSE MEDIA GROUP INC.)
Page 167 - FRIENDFINDER NETWORKS INC. (FORMERLY KNOWN AS PENTHOUSE MEDIA GROUP INC.)
Page 168 - FRIENDFINDER NETWORKS INC. (FORMERLY KNOWN AS PENTHOUSE MEDIA GROUP INC.)
Page 169 - FRIENDFINDER NETWORKS INC. (FORMERLY KNOWN AS PENTHOUSE MEDIA GROUP INC.)
Page 170 - FRIENDFINDER NETWORKS INC. (FORMERLY KNOWN AS PENTHOUSE MEDIA GROUP INC.)
Page 171 - FRIENDFINDER NETWORKS INC. (FORMERLY KNOWN AS PENTHOUSE MEDIA GROUP INC.)
Page 172 - FRIENDFINDER NETWORKS INC. (FORMERLY KNOWN AS PENTHOUSE MEDIA GROUP INC.)
Page 173 - FRIENDFINDER NETWORKS INC. (FORMERLY KNOWN AS PENTHOUSE MEDIA GROUP INC.)
Page 174 - FRIENDFINDER NETWORKS INC. (FORMERLY KNOWN AS PENTHOUSE MEDIA GROUP INC.)
Page 175 - FRIENDFINDER NETWORKS INC. (FORMERLY KNOWN AS PENTHOUSE MEDIA GROUP INC.)
Page 176 - FRIENDFINDER NETWORKS INC. (FORMERLY KNOWN AS PENTHOUSE MEDIA GROUP INC.)
Page 177 - FRIENDFINDER NETWORKS INC. (FORMERLY KNOWN AS PENTHOUSE MEDIA GROUP INC.)
Page 178 - N/A
Page 179 - VARIOUS, INC. AND SUBSIDIARIES AND AFFILIATES
Page 180 - VARIOUS, INC. AND SUBSIDIARIES AND AFFILIATES
Page 181 - VARIOUS, INC. AND SUBSIDIARIES AND AFFILIATES
Page 182 - VARIOUS, INC. AND SUBSIDIARIES AND AFFILIATES
Page 183 - VARIOUS, INC. AND SUBSIDIARIES AND AFFILIATES
Page 184 - VARIOUS, INC. AND SUBSIDIARIES AND AFFILIATES
Page 185 - VARIOUS, INC. AND SUBSIDIARIES AND AFFILIATES
Page 186 - VARIOUS, INC. AND SUBSIDIARIES AND AFFILIATES
Page 187 - VARIOUS, INC. AND SUBSIDIARIES AND AFFILIATES
Page 188 - VARIOUS, INC. AND SUBSIDIARIES AND AFFILIATES
Page 189 - VARIOUS, INC. AND SUBSIDIARIES AND AFFILIATES
Page 190 - VARIOUS, INC. AND SUBSIDIARIES AND AFFILIATES
Page 191 - VARIOUS, INC. AND SUBSIDIARIES AND AFFILIATES
Page 192 - VARIOUS, INC. AND SUBSIDIARIES AND AFFILIATES
Page 193 - VARIOUS, INC. AND SUBSIDIARIES AND AFFILIATES
Page 194 - VARIOUS, INC. AND SUBSIDIARIES AND AFFILIATES
Page 195 - VARIOUS, INC. AND SUBSIDIARIES AND AFFILIATES
Page 196 - shares
Page 197 - PART II
Page 198 - Item 15. Recent Sales of Unregistered Securities
Page 199 - Item 16. Exhibits and Financial Statement Schedules.
Page 200 - REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM
Page 201 - FRIENDFINDER NETWORKS INC.
Page 202 - N/A
Page 203 - SIGNATURES
Page 204 - E XHIBIT INDEX
Page 205 - N/A
Page 206 - N/A
Page 207 - Exhibit Number
Subdocument 2 - EX-10.27 - AMENDMENT TO INDEPENDENT CONTRACTOR AGREEMENT DATED MAY 12, 2008, BY AND BETWEEN ANDREW B. CONRU AND VARIOUS, INC.
Page 1 - Exhibit 10.27
Subdocument 3 - EX-10.31 - AMENDED AND RESTATED EMPLOYMENT AGREEMENT, DATED JULY 8, 2008, BY AND BETWEEN PENTHOUSE MEDIA GROUP INC. AND EZRA SHASHOUA
Page 1 - Exhibit 10.31
Page 2 - Equity compensation (SPAC)
Page 3 - D O insurance coverage
Page 4 - N/A
Page 5 - N/A
Subdocument 4 - EX-10.32 - EMPLOYMENT AGREEMENT, DATED OCTOBER 25, 2007, BY AND BETWEEN PENTHOUSE MEDIA GROUP INC. AND ROBERT BRACKETT
Page 1 - Exhibit 10.32
Page 2 - Responsibilities
Page 3 - Interference with Business
Page 4 - PENTHOUSE MEDIA GROUP INC.
Page 5 - BONUS PLAN
Subdocument 5 - EX-10.33 - LEASE DATED NOVEMBER 2, 2004, BY AND BETWEEN 6800 BROKEN SOUND LLC AND PENTHOUSE MEDIA GROUP INC.
Page 1 - Exhibit 10.33
Page 2 - TABLE OF CONTENTS
Page 3 - N/A
Page 4 - LEASE
Page 5 - N/A
Page 6 - ARTICLE 2: TERM AND COMMENCEMENT
Page 7 - ARTICLE 4: BASE RENT AND ADDITIONAL RENT
Page 8 - N/A
Page 9 - N/A
Page 10 - ARTICLE 5: QUIET ENJOYMENT
Page 11 - ARTICLE 7: USE, COMPLIANCE WITH LAWS, AND RULES
Page 12 - ARTICLE 8: MAINTENANCE AND REPAIRS
Page 13 - ARTICLE 9: ALTERATIONS AND LIENS
Page 14 - N/A
Page 15 - ARTICLE 10: INSURANCE AND WAIVER OF CLAIMS
Page 16 - ARTICLE 11: CASUALTY DAMAGE
Page 17 - ARTICLE 12: CONDEMNATION
Page 18 - ARTICLE 13: ASSIGNMENT AND SUBLETTING
Page 19 - N/A
Page 20 - ARTICLE 14: PERSONAL PROPERTY, RENT AND OTHER TAXES
Page 21 - N/A
Page 22 - N/A
Page 23 - N/A
Page 24 - ARTICLE 16: SECURITY DEPOSIT
Page 25 - ARTICLE 18: SUBORDINATION, ATTORNMENT AND LENDER PROTECTION
Page 26 - ARTICLE 19: ESTOPPEL CERTIFICATES
Page 27 - N/A
Page 28 - ARTICLE 21: LANDLORD S RIGHT TO CURE
Page 29 - ARTICLE 24: HOLDING OVER
Page 30 - ARTICLE 26: REAL ESTATE BROKERS
Page 31 - ARTICLE 29: TELECOMMUNICATION LINES
Page 32 - ARTICLE 30: HAZARDOUS MATERIALS
Page 33 - N/A
Page 34 - ARTICLE 31: DISABILITIES ACTS
Page 35 - ARTICLE 33: DEFINITIONS
Page 36 - N/A
Page 37 - N/A
Page 38 - N/A
Page 39 - ARTICLE 34: MISCELLANEOUS
Page 40 - N/A
Page 41 - ARTICLE 35: ENTIRE AGREEMENT
Page 42 - N/A
Page 43 - LANDLORD ACKNOWLEDGMENT
Page 44 - EXHIBIT A
Page 45 - EXHIBIT B
Page 46 - EXHIBIT C
Page 47 - N/A
Page 48 - N/A
Page 49 - N/A
Page 50 - N/A
Page 51 - EXHIBIT D
Subdocument 6 - EX-10.34 - AMENDMENT TO LEASE DATED JUNE 14, 2006, BY AND BETWEEN 6800 BROKEN SOUND LLC AND PENTHOUSE MEDIA GROUP INC.
Page 1 - Exhibit 10.34
Page 2 - EXHIBIT A
Page 3 - Amendment to Exhibit D
Subdocument 7 - EX-10.41 - PENTHOUSE MEDIA GROUP INC. 2008 STOCK OPTION PLAN
Page 1 - E
Page 2 - Stock Options; Stock Subject to Plan
Page 3 - Grants of Options
Page 4 - Other Stock Option Conditions
Page 5 - Adjustments
Page 6 - Option Exercise Price
Page 7 - Indemnification
Subdocument 8 - EX-14.1 - CODE OF ETHICS
Page 1 - Exhibit
Page 2 - Financial Records and Reporting
Page 3 - N/A
Subdocument 9 - EX-14.2 - CODE OF BUSINESS CONDUCT AND ETHICS
Page 1 - Exhibit 14.2
Page 2 - Fair Competition and Antitrust Laws.
Page 3 - International Operations
Page 4 - Financial Integrity
Page 5 - Confidentiality and Proper Use of FFN, Customer or Supplier Information
Page 6 - Securities Trading
Page 7 - Political Contributions
Page 8 - Other Forms of Harassment
Page 9 - Reporting Responsibilities and Procedures
Page 10 - Conclusion
Page 11 - FRIENDFINDER NETWORKS INC.
Subdocument 10 - EX-21.1 - LIST OF SUBSIDIARIES
Page 1 - Exhibit 21.1
Subdocument 11 - EX-23.2 - CONSENT OF EISNER LLP
Page 1 - Exhibit 23.2
Subdocument 12 - EX-99.1 - FORM OF AUDIT COMMITTEE CHARTER
Page 1 - Exhibit 99.1
Page 2 - III.
Page 3 - IV.
Page 4 - Oversight of the Company s Relationship with the Independent Auditor
Page 5 - N/A
Page 6 - Oversight of the Company s Internal Audit Function
Page 7 - Other
Subdocument 13 - EX-99.2 - FORM OF COMPENSATION COMMITTEE CHARTER
Page 1 - Exhibit 99.2
Page 2 - III.
Page 3 - V.
Subdocument 14 - EX-99.3 - FORM OF NOMINATING AND CORPORATE GOVERNANCE COMMITTEE CHARTER
Page 1 - Exhibit 99.3
Page 2 - III.
Page 3 - V.

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