receivership
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Kickstarter darling PicoBrew may soon go out of business
One of the original Kickstarter success stories, PicoBrew, is likely going out of business permanently, according to The Spoon.
French display company Nemoptic reportedly goes bankrupt
Remember that dual-mode OLED / Binem display from yesterday? Well, then you might want to hang onto those memories, as the company behind it has apparently now gone bankrupt. While there's no official word from the company itself, French website Actualitte is reporting that the company, Nemoptic, was more than three million euros in debt and has been unable to find a buyer to bail it out. Of course, there's always a chance that another company could now swoop in and pick up Nemoptic's IP now that it's in receivership, though there's obviously no guarantees.
Cheyenne Mountain Entertainment refused requested board changes
The last thing we'd heard from Cheyenne Mountain Entertainment, they were filing for Bankruptcy protection, and were attempting to sever all ties with Gary Whiting, Chairman and CEO of the company. However, according to a filing unearthed by Martuk over on the Ten Ton Hammer forums, it would appear that their motion to remove him -- and the restraining order against him -- were denied by the courts. Rumors of financial mismanagement and all manner of shenanigans by Whiting and others have been rumbling around for quite some time. Thankfully, the court did see fit to intervene insofar as to require both parties to name two people they would recommend for receivership -- in essence, someone to protect the company from any further wrongdoing. The question now becomes how this is going to play out in terms of the future for Stargate Worlds, considering what is becoming of the court battle and the seeming rancor between parties involved. We'll be sure to keep you up to date as the story progresses.
Bankrupt VK Mobile: down but not out
Would-be Kickflip owners, Helio employees, rejoice: VK's back in the ring for another round. After a July 7 scare that had the Korean manufacturer facing liquidation, a bankruptcy court has ruled that they can conveniently forget their debts and obligations, freeing up cash for things like -- oh, you know -- manufacturing of phones. It'll apparently take the court a couple months yet to decide exactly if and how VK will be allowed to continue its turnaround, a decision that will be based largely on how the defunct company fares in the interim. If they agree to cut it out with the SLVR knockoffs, we're all for a complete recovery.
