Current’s Claims of ‘Profitability’ Ring False

Parsing through Current Media‘s filing for a $100 million public offering, I kept stumbling over the financials section. The youth-oriented news company had a net loss of $9.8 million in 2007, based on revenue of $63.8 million. It lost $7.6 million in 2006 and $14.3 million in 2005. Altogether, Current had $36.5 million in debts as of the end of last year.

Yet until now, while the company — which is perhaps best known for being co-founded by Al Gore — wasn’t obligated by the government to tell the world, Current kept telling me it was profitable. Just last week an external PR person pitched me in an email: “Unlike so many Web 2.0 companies, they’re profitable.” And back in October, when Current was making its big online push, Joanna Drake Earl, the company’s president of new media, said in an in-person interview, “We continue to be profitable. It comes back to discipline. We didn’t want to spend marketing dollars.” I reported the situation as such in my write-up on Oct. 15.

I wasn’t the only one who took Current’s claims of profitability at face value. “Joel Hyatt is comfortably ensconced in his loft-style San Francisco office at Current TV, Al Gore’s now-profitable cable network,” wrote Fast Company last summer. “Hyatt says that Current TV is profitable and has been for nearly a year,” reported BusinessWeek in September. “Mr. Hyatt said Current TV, which is backed by two private equity firms and a group of business partners, including Ronald W. Burkle, the supermarket magnate, turned profitable in the fourth quarter of 2006, but would not give specifics,” said the New York Times in October.

Read More about Current’s Claims of ‘Profitability’ Ring False

MojoPac Freedom: no cost mobile virtualization for PCs

MojopaclogoGreat news from RingCube: they’ve set their mobile virtual environment application, MojoPac, free! When MojoPac debuted, it was $29.95 for a license, but now you can get MojoPac Freedom at no charge. As shown in this video demonstration, MojoPac is an innovative method to carry your personal computing environment with you at all times on practically any USB storage device. As long as that device can be recognized by Windows as an external storage drive, you can run a full computing environment on it by connecting it to any Windows PC. This gives you the flexibility to have all of your apps and data with you, but use them without leaving a trace behind on the host PC.

You can snag a free copy of MojoPac Freedom right here. Looks like the host PC support is limited to Windows XP only; no Vista as of yet.

(via DigitalReviews Network)

Tivo2Go, Barely

TiVo has certainly taken its sweet time delivering what it is calling TiVo To Go service. Right now it works in pretty simple way – software upgrade will allow TiVo to transfer shows to your laptop which runs Windows XP or Windows 2000. Other Win-versions, not supported. Yup, you still need a special software on your laptop. OS-X and Linux folks are out of luck. It works only with TiVo branded boxes and not with Direct TV boxes, which is pretty lame given that those guys are a big portion of TiVo’s customer base. I am pretty sure transferring files to your handheld, Treo or any other smart phone is not going to happen. A bit underwhelming so to speak this whole release. Here is why: in this age of companies like Orb Networks, Sling Media and Kinetic Tide, which stream content right off your drives, and/or can stream live television Tivo2Go seems so 1990s. Many think it is competition for those guys – not really. TiVo2Go is a static 2-Go solution. (Full story over on Wired.com)