You don’t see this every day: an inherently dishonest business based on exploiting  consumer gullibility and ignorance making its deception clear in publicly released materials.

The Psychic Friends Network, which is allowed to advertise its fake psychic and fortune-telling services by appending a small sentence declaring that it is “for entertainment only,” has been to bankruptcy and back since those halcyon days when it was being pitched on TV by pop star Dionne Warwick. Now it is looking for investors, and  forecasting $64 million of net income for fiscal 2015. Hey–a forecast from a self-acclaimed network of psychics is money in the bank, right?

Uh, no. Says the PFN, being careful, candid, and admitting their business is 100% hooey:

Let’s get this straight: The Psychic Friends Network, which induces consumers to pay its “network” employees to tell them what is going to happen in the future, states in its public materials that it has no way of telling what is going to happen in the future. Does this make it an honest scam? Can there be such a thing as an honest scam? Is it ethical to invest in an enterprise that openly admits that its premise is a lie? I don’t think so. Will many people invest in such a business?

I don’t know.

The funny thing is, neither does the Psychic Friends Network.

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Sources: Bloomberg