Thank you for your response. A strange thing happened after I made this post. The rankings for this site dropped dramatically. Would the link posted in this Q&A affect the site rankings? There was an SEO person working on this site prior to me and he had a few links from low end article submissions, and social bookmarks. However most of the inbound links came from relative adult sites. We were ranked in the top ten for some prominent keywords. After this post however, all rankings have dropped to the third page or lower, while competitors with worse link profiles were bumped up. I am really confused as I have got links from the same sites as competitors yet it seems we were punished somehow.
Please help. Does anyone have any ideas as to why this would happen?