Local Matters Inc. focuses on local Internet search, technology that enables consumers to use Internet directories to find restaurants, stores and other businesses in a particular area.
As of Dec. 31, the company had an accumulated deficit of nearly $90 million, according to the filing.
90 - 57 = 33 million in debt and rising.
So what will they do if the continue to bleed some 10 million or 20 million a year? Sell more shares in 2 years I guess.
Hope Area-Guides.net is a typo in the article as it is for sale.