Hans Pandeya, the man who tried to acquire The Pirate Bay last year, has purchased controlling interest in a tiny U.S. company that makes and sells wall calendars, according to records filed with the Securities and Exchange Commission.
Pandeya paid $325,000 for Business Marketing Services, a printing company that trades its over-the-counter stock on the OTC Bulletin Board (OTCBB), according to the SEC filing.
In January, Pandeya took control of 15 million shares, or 78 percent of the company's stock, records show. Business Marketing Services didn't report any revenue for the quarter ended September 30, 2009, when it issued its last earnings report. What Pandeya intends do with the company isn't clear. He told CNET last month that his failed attempt to purchase The Pirate Bay hasn't dampened his enthusiasm for digital content.
Pandeya declined to discuss his plans but did say they involve digital media. "I have a lot of secret plans I'm working on," Pandeya said then.
Last year, Pandeya, CEO of Sweden's Global Gaming Factory, a software maker and operator of Internet cafes, announced he would spend $8 million to acquire The Pirate Bay, one of the world's most popular BitTorrent search engines. The site is often used to find and eventually download unauthorized copies of films and other copyrighted content.
Pandeya's bid to acquire The Pirate Bay appeared to collapse amid numerous questions about Global Gaming and Pandeya's ability to complete the deal. In an e-mail sent Monday, Pandeya confirmed the acquisition for Business Marketing Services.
In his e-mail, Pandeya issued a statement that his new U.S. company had acquired the source code and other software assets of gTradeNet of Sydney, Australia. According to its Web site, gTradeNet is an electronic clearinghouse for the sale of equities. "gTradeNet is a global trading platform," the company writes on its Web site.
Pandeya's critics aren't going to miss the irony here. Pandeya and Global Gaming were booted off of the AktieTorget,a Swedish stock exchange, last year when officials there concluded the company "misled" investors about its ability to purchase The Pirate Bay.
According to gTradeNet's announcement of the deal supplied by Pandeya, Business Marketing Services paid gTradeNet with a "promissory note in the principal amount of $300,000 with a maturity date of May 31, 2010."