A big OUCH for the GOFHers.  The stock closed at $0.43 on Friday, with
an intra-day low of $0.30.  Bad news for anybody still in.  GOFH has
gone from a $150 million market cap company in February to a $7
million market cap company on Friday.

Well, we will see if the optimists are really prudent and
informed...or if realism will take the day. I got out when the stock
was still "all the way up" at 84 cents.

The current credit crunch has profound implications for GOFH.  Simply
put, this is an under-performing company that is going to find anybody
who will be willing (foolish enough?) to loan them money to continue
their operations.  They have basically screwed themselves over by
undercutting shareholders with the private financing deal selling
shares at $1.60-$1.75 when the general public was paying over $3 a
share, causing their stock price to plummet.  The draconian full-
rachet antidilution provisions pretty much guarantee that they cannot
make any further offerings for less than $1.60-$1.75/share, and of
course no one will buy shares for that amount when they can get far
more on the open market.  Given the fact that current prices are one-
quarter of what the private equity lenders paid -- in a deal that
seemed cheap at the time, shpwing utter disdain for their public
shareholders--and that their stock price record of already losing 95%
of its value in less than 6 months - from $6.10 earlier this year  --
to an intra-day, year to date low of $0.30 on Friday -- who on earth
is going to give them any further financing?  At the rate GOFH is
burning through money and with revenues far below expenses, how long
do you honestly think they can continue to function?

Even great growing tech firms like NTGR have seen their stock prices
plummet when they turn a profit but not as much as expected.
Reasonable companies with real business models like American Home
Mortage Investment are going down the toilet because of their
inability to secure financing and margin calls against their debt. So
it does not take much of a visionary to see that GOFH, a pie-in-the-
sky dot-com boom with big expenses two orders of magnitude greater
than their revenue, seems destined for the toilet bowl of bankruptcy.

This company has big debt and no assets, and high expenses and low
revenues.  Their net value is below zero.  That doesn't speak well for
the stock.  Everyone is selling and no one wants to buy, as the
continued price collapse demonstrates.  The price is so low that GOFH
is ripe for a hostile takeover for mere pennies on the dollar...but
none of the big players WANTS them, which is no surprise considering
GOFH's financials.

This is not a turn-around company.  It is a company that appears
destined for bankruptcy or collapse.  As much as I would like to
believe that GOFH is going to succeed, I simply do not see how it is
possible.  Nor am I concerned about what announcements or surprises
they may have around the corner -- promises and potential will not go
far with their current financials without an ability to get continued
financing which is now largely non-existent.

The only real question in my mind is how much more time GOFH will limp
along before closing its doors to bankruptcy, or whether a hostile
firm will wait to swoop in to "save" the day in a hostile takeover by
buying up GOFH stock at $.05, $.10, or $.25, firing all of GOFH's
employees, and at least using the domain name and content to redirect
the existing traffic.  Given the fact that there does not yet seem to
be the slightest sign of interest on the horizon from competitors who
could get GOFH for pennies on the dollar, I'd say that bankruptcy
appears distinctly more likely.