What happened with the Christian Times after iExalt acquired the newspaper?
A. We began to expand aggressively through acquisitions and new launches and within 15 months had nearly doubled our distribution to 330,000 copies, from seven regions in California to 13 regions in five states. We moved out of our in-home office and hired additional staff, putting our operation in high gear to become a regionally-focused national chain of Christian newspapers. But iExalt’s intent to fund our expansion never materialized and, by December 2001, we had to cut our unprofitable regions and lay off half our staff.
