Here are additional details about the Spark Networks/HurryDate deal.
Spark Networks paid $2,000,000 to Hurry upon execution of the Agreement, and an additional sum of up to approximately $250,000 may be paid by the Company to Hurry, calculated based on Hurry’s working capital as of December 31, 2006. Furthermore, over the next two and a half years after signing, HD will pay Hurry up to an additional $3,250,000, calculated based on Hurry’s net operating income, for the period between April 1, 2007 and March 31, 2008, and the duration for which Mr. Deckinger and Ms. Tongish remain employed by HD after the date of the Agreement.
