Unassumingly, JC pitched Punch before we bought it. SS thought they were making head way, so he says. Once he realized from insiders that they were not making headway I guess he just decided to act like it never happened. IMO, Steve just wanted the network certs and knew this wouldn't work out. The biggest question is why did this happen right after the upfront and where the hell is the 12 million in revenue. Didn't that even say at the upfront the Q would show revenue.
The question I have is who is truly responsible about the 12 million in revenue. Or did JC company receive the money and it cost them more to produce the shows than they made, although I find that to not to be true since his original programming was kinda bad.
I don't think he fire JC because the punch name wasn't as much of an asset as Steve thought, which now JC feels since he is changing his TV name as well. If he would have kept the name and fired JC, IMO, they would have went to court and I don't think they wanted the bad publicity in the media world.
Your last question is, I think, Steve was tooo busy with all the interviews and neglected his job as a CEO, JMO. Also if he would have owned PUNCH we would have been in WAY more debt than we are now. Although a 1$ in reveune would have been nice no matter how much debt you have. Steve should have show some sort of revenue, its not that hard.
PNCH - FOR NOW
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