maemo.org - Talk - View Single Post - Jolla Tablet Refunds (latest developments)

mscion	2016-01-28 , 12:39
Posts: 1,873 \| Thanked: 4,529 times \| Joined on Mar 2010 @ North Potomac MD	#4164

Originally Posted by Obsatcle-Man

There are 4 acceptable endings to me:

1. deliver the tablets
2. deliver refunds (maybe minus the fee taken by IGG)
3. deliver a choice of tablet or refund
4. bankruptcy

Does anyone know who has been giving them the funding? Series B was 12.4M and that lasted them about a year. Series C is unknown but is likely the last chance they will have.

All I found on who had been investing was a 6.25 percent stake owned by China Fortune as part of the 2013 financing. That and statements the financing was a mixture of EU and China based organizations

Not sure about the bankruptcy laws in Finland but in the US many companies declare bankruptcy and survive. They just reorganize, restructure debt, etc., and move on. Examples are some of Trump's Atlantic City casinos. Here are other examples

http://www.businessnewsdaily.com/824...ankruptcy.html

So, it is likely declaring bankruptcy is tantamount to eventually continuing as a software company. But without option 1,2 or 3. Although maybe a partial refund.
If this was truly a scam (I'm not saying it is...) then jail time could be considered acceptable by some....