p2pnet.net News:- Are things unraveling at Brilliant Digital Entertainment?

The company is, like its subsidiary Altnet (once ironically named Brilliant P2P), a Sharman Networks stalwart.

But it’s been troubled for some considerable time and now Russell Simmons, dubbed the godfather of hip-hop, has resigned from the board, leaving Kevin Bermeister (ceo and president), Mark Miller, Ray Musci and Abe Sher holding the fort.

“For the nine months ended 9/30/04, revenues increased 89% to $6.8 million,” says a Reuters abridged financial summary.

But, it continues, "Net loss increased 94% to $4.6 million."

Go here for more numbers.

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