Individual Investor running out of cash

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Individual Investor Group, the personal finance publisher, is running out of cash and could be forced to suspend operations this summer, Crain's New York Business reports. In a Securities & Exchange Commission filing, the publicly held company said its working capital "will be insufficient to fund its operations and capital requirements beyond the middle of the third quarter of 2000, unless the company is able to obtain additional equity or debt financing." Chairman-Editor in Chief Jonathan Steinberg is seeking $6 million to keep his operation afloat through yearend.

Copyright June 2000, Crain Communications Inc.

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