13

Aug

RentalHouses Acquired For $9,000 In Cash

Posted by   Published in RentalHouses

From the latest SEC filing:

“In February of 2007, the Company acquired the assets of RentalHouses.com, for approximately $9,000 in cash. The Company has not yet completed its purchase price allocation and in the interim has classified the intangible assets to goodwill.”

I am not a finance guy, but I am guessing $9k really means $9M. Perhaps building up a user base by giving away unlimited plans for $299 paid off well for the owners of RentalHouses.

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4 users responded in this post

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Robbie said in August 13th, 2007 at 9:07 pm

Dave,
I’m confused….Who aquired who?

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Dave said in August 13th, 2007 at 9:12 pm

This is actually old news, but the number was finally release when PRM bought RentalHouses.

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Blue said in August 14th, 2007 at 8:33 am

They way overpaid! Maybe thats why Gallo is gone?

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Frank Drebin said in August 16th, 2007 at 3:25 pm

Well, it sounds like a good deal, but they had to pick it up and move it by themselves.