Question-and-Answer Session
Operator
(Operator Instructions) Your first question is coming from Nelson Obus of Wynnfield. Please go ahead.
Nelson Obus - Wynnfield Partners
You said on the call that we have no debt. Do we have any cash balance at the end of the year.
Doug Gealy
A little over $800,000.
Nelson Obus - Wynnfield Partners
Okay. Jamie, perhaps you could give us an update on the efforts to liquidate the company. It seems like the market place has already liquidated the company but hopefully you’ll be able to do better. I mean the stock market.
Jamie Kellner
You mean in terms of our efforts to sell individual stations?
Nelson Obus - Wynnfield Partners
Yeah. I think now we’re talking about putting the lights out on this thing ASAP. I mean, it’s kind of getting silly. But go ahead. I mean, I know you may have to do it incrementally, but the stock dropped below $2 the other day so the quicker we halt the pain the better. So give us an update.
Jamie Kellner
Well, the update is we are in the same position we were in our last call. We have--our broker has been working with a number of different clients and having discussions and it takes time. And the existing market and the credit markets certainly doesn’t help that. So there is not anything more that we can tell you today than we did three months ago.
Tom Allen
That’s not to say that we haven’t had meetings at the stations and had people through. And we’re still getting our weekly updates from Brian Cobb, who’s pushing.
Nelson Obus - Wynnfield Partners
Okay.
Jamie Kellner
But we’re not in a position to announce anything or tell you that we feel more positively today than we did three months ago.
Nelson Obus - Wynnfield Partners
Apart from non-program expenses—I mean apart from program-related expenses, what do you expect expenses to be in 2008 versus 2007?
Tom Allen
Excluding programming payments?
Nelson Obus - Wynnfield Partners
Yeah.
Tom Allen
I’ll answer that. Let me answer that before we get off the call. But obviously it’s a pretty small number, if not negative, for the station.
Nelson Obus - Wynnfield Partners
Okay. I mean, what can you say about The Daily Buzz in terms of—it’s very hard for me to—I think it’s very hard for all the shareholders to understand whether or not we have something that could truly add to the liquidation value here or whether—it’s a nice achievement to get it positive but just not a lot of leverage. I guess I’m focused on the potential ability to meaningfully affect the positive cash flow.
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