In a shock turn around, ASX listed bandwidth wholesaler FlowCom has announced their intended purchase of Froggy Holdings will not go ahead, paving the way for the sale of the company to mystery man Tim Berry.
Despite a concerted advertising campaign incorporating billboards and the print media, Froggy joint owner and chief executive John Patterson said the company continues to be dogged by the scandal surrounding the Suleman name.
Upstart ISP Froggy has taken to the skies, and this time it's not just to scribble its name, according to ASIC (Australian Securities and Investment Commission) records obtained by ZDNet Australia.
Monday's announcement that ASIC was seeking to join a series of the Froggy companies in its proceedings against KSE have been met with a strongly worded letter accusing ASIC of a -serious error in judgement", composed by Karasmanis.
In an attempt to avert the forced sale of Froggy ISP and Froggy Mobiles, John Karasmanis, the man charged with making Froggy profitable, has presented the liquidators with a -business plan" which is understood to include a -compromise of debt".
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