I learned a lot from my first network marketing venture. The most important thing that I learned was to do my research in advance of joining any organization. Older and wiser now :) YTB International Files Chapter 11 Npros | 3/5/2013 YTB International filed for Chapter 11 bankruptcy protection in federal court on March 2. Andrew Cauthen, YTBs President, said in a press release that “YTB intends to utilize ... Chapter 11 to regroup, reorganize, and relaunch.” Before the companys downward spiral, YTB reported $45 million in revenue in a quarter during 2008 and employed hundreds of people. When the California Attorney General sued YTB, the resulting settlement and bad publicity drove agents away, causing revenue to fall sharply. Since 2008, YTB has tried new business models and launched a merger only to later pull out. YTB’s stock now trades for a penny and it hasn’t filed a quarterly earnings report since the third quarter of 2011. The Chapter 11 filing lists assets of $1.3 million and debts of $7.2 million.
Posted on: Fri, 28 Mar 2014 00:06:30 +0000
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