http://tags.gawker.com/assets/base/img/thumbs140x140/gawker.com.png http://gawker.com/tag/valleywag/robertsigler http://gawker.com/tag/valleywag/robertsigler In a shareholders' conference call yesterday, Pay By Touch CFO Robert Sigler told investors the company plans to raise $150 million in 2008. This after Pay By Touch management has already burned through over $300 million since its founding and cost some 250 jobs just this fall. Tell you what, I hope Sigler and returning COO Eula Adams find their investors. Beause whoever they are, maybe I can find something to sell them, too. (Photo of the Brooklyn Bridge by absolutwade)

]]> http://gawker.com/index.php?op=postcommentfeed&postId=334979&view=rss&microfeed=true Despite glowing reviews in the press for its biometric payment system, "serial venture raisers (and huge burners)" Pay By Touch is going under, a tipster tells us — and hints that a Chapter 11 bankruptcy filing is possible. Apparently founder and chairman John Rogers has gone missing after a tenure marked by what our tipster called a "spend big, live big, party big, girls, drugs, meals binge of a global scale." Sounds like a fun way to burn through nearly $200 million, raised from the likes of Mobius Venture Capital, the Getty family, and Global Trust Ventures. In a very unusual move, Global Trust cofounder Robert Sigler joined the company as its CFO in July. As far as we've heard, investors never get their hands dirty working at a company in their portfolio — unless they suspect something's going seriously wrong, and they want to pore over the books. Any idea what Sigler has been seeing? Tell us more.

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