"In 2001, Kocis was newly bankrupt, meaning that his debts were discharged then, but that he had to forfeit most of his assets. He could keep his home, but if he wanted to keep his personal property including his clothes, he had to value them on a mark-to-market basis and buy them back from the court, forking over monthly cash payments at his bankruptcy lawyer’s office. He would not be able legitimately to apply for and get credit, except for a low dollar secured credit card, until 2008, which he did not live to see.
I estimate that Kocis could have produced one of his cheesoid dvds for somewhere in the low to mid five figures, assuming he paid the models generously. Where did he get his start-up and continuing operating capital if he were still in bankruptcy? Did he ask his parents for it? Did he dig up a bunch of Chock Full o’ Nuts coffee cans in the back yard? Or did he go to a high-interest underground lender who would be unforgiving about repayment.
Such an underground lender might know a lot about the gay porn industry, be able to judge a project’s probability of success, maintain wide contacts in the industry, have numerous gay porn film clients, and, again, wouldn’t be fucking kidding about taking back the principle and the vig.
All goes well for three years. Kocis makes his films, establishes a Rolodex of models, gets distribution, establishes an industry reputation, and the money starts rolling in. But he fucks it up. He plows his income into lifestyle and not into the business. Small businessmen do not have Rolexes and Maseratis until they retire. Kocis remains dependent on the underground lender for operating capital.
Then the bottom drops out. Kocis has a falling out with a star model. Kocis knows that this may cause his house of cards to collapse. Rather than say nice knowing you and good luck, he mounts a campaign to intimidate and discredit the model. His desperation in emails and phone calls is palpable. Disaster strikes. The model reveals what both he and the model have known from the beginning, that the model was under age at the time of filming, and that the films that secure the underground line of credit are worthless.
The next sixteen months are a maelstrom of desperation. Distributors won’t touch him or his product. Worthless assets. Declining revenue. Mounting interest payments. Repeated threats. He hires lawyers who won’t be paid more than the initial retainer to file lawsuits against insolvent defendants. (Ask Sean Macias what he cleared, or better yet his partners, if he has any.) The underground lenders conclude that they won’t get their money, and decide to make an example of Kocis for the gay porn industry.
Cut to Virginia Beach and Joe and Harlow, who are just as broke and desparate. It is whispered in their ears that maybe they will be allowed to live if only they do this one thing. The whisperers know that Joe and Harlow are incompetent and will be caught, but they also know that these two mooks will not be safe even in prison if they talk.
September 28, 2008 8:10 PM"
Update: Well well well, look at this...
