ATLANTA — Eight months after their merger, Liberator, Inc. has announced the sale of Web Merchants Inc., the owner of online adult retailer EdenFantasys.com.
Web Merchants was sold to EdenFantasys.com President Fred Petrenko. The sale includes a payment of $700,000 in exchange for full control of the shares of Web Merchants, and 24.5 million shares of Liberator common stock. Web Merchants was initially acquired for $100,000 and 28.4 million shares.
In a statement released by Liberator, Louis Friedman, president and CEO of Liberator.com stated, "Although we are parting company, we remain on good terms with the management of Web Merchants and we expect to continue to be long-term trading partners."
EdenFantasys.com will continue to operate as normal, the company said.
This year, the online retailer won Outstanding Online Retailer and Online Adult Retailer from AVN and StorErotica, respectively.