Posted with author permission. Stuff like this helps shine light on what goes on in the industry and thenmany trials innovators and business share holders are facing in these trouble filledntimes:
Thanks.
Yes, I would appreciate that.
Please post this as well...
I really believe that they are going to get the project done. I have heard a lot of things indicating that they WILL ship the HALs eventually.
So there is hope. I took a big risk sending this out and I have already been threatened with a lawsuit by my partners for releasing this information on social media two weeks ago. They refuse to reply to me or send any viable updates to the customers, so I felt it was worth the risk to get the info out. I have already had TWO death-threats in response to this specific e-mail. Not everyone is taking this well...
We shall see what happens. I will do everything in my power to try to get everyone taken care of. I mean that.
Hang in there! This is not over!!!
Hello and welcome to the SD Studios AUGUST
Mailing!
Welcome NEW list members!
Hello! As some of you are aware, I recently posted an update on MRG to Facebook and the Indiegogo account. If you haven't seen it, you might want to look it up. I HAVE ALSO ATTACHED THE TEXT TO THE BOTTOM OF THIS E-MAIL> PLEASE SCROLL TO THE BOTTOM IF YOU WANT TO READ IT!
Despite all of my efforts for three years, my partners have finally managed to bankrupt MRG. They filed for Chapter 11 reorganization last week. They are not responding to ANY of my requests for information for the last several months, so I only know what the general public knows.
I spent the last three years of my life fighting/arguing/engaging with powerful, wealthy narcissists to make sure this didn't happen. They had other plans. We did manage to ship many thousands of great products out to customers, so THAT is good. But the future of HAL is unknown. I don't intend to give up and will keep working to do whatever I can to make sure that ALL of the customers who are owed anything will get compensated.
I have no idea what the future of my company is now. I only know that I, my family, and my entire staff have all been unemployed since April. I have no words to express how I feel about this. I am receiving phone and e-mail threats and I understand that people are ticked off, but yipes, guys. Someone also posted all of our personal info on the internet including a google earth map to my home. Good times. This should never have happened and am beyond-frustrated that I spent three years trying to stop something that could not be stopped.
Sorry I couldn't do a better job.
There is a plan to get our surviving, incredibly-talented group of great people back together and resume creating new, amazing products under a new corporation. But this will take some time to execute.
SO, if you guys could help me out and BUY SOMETHING from this list. I, and my family, would REALLY appreciate it! If anyone needs some models built, there is a REALLY talented model-maker available right now ?
I put a number of super-cool, rare pieces up for sale this month! E-mail me for pics or more info. Payment can go to
sdstudios@aol.com Payment plans are always available and negotiable. (pricing is generally...less-so). If you see something you want, let me know a payment schedule that works for you!
Now...
Prepare yourselves for even more awesome-osity...
I have a FEW MRG pieces and will be selling them at a DISCOUNT. These are my personal copies.
-MRG 2001 HAL dual-signature plaque. Signed by Keir Dullea and Gary Lockwood. I worked directly with both of these gentlemen and can certify that this signature plaque is absolutely authentic. I even have some pretty funny voice-messages from them. $100 plus shipping TBD. (That is less than it cost to make!)
-MRG ¼ scale T.rex skull replica. This is my personal copy. Licensed and scanned directly from the Smithsonian T.Rex skull. Includes retail package, skull, acrylic display stand, plaque, and fold-out BIG making-of booklet. Sold regularly for $750. $600 plus shipping!
-MRG ½ scale T.rex skull replica. Same as above. Our manufacturer has a few in stock and ready to go. EXPENSIVE! HUUUUGE! DISCOUNTED! E-mail me for price. Serious inquiries only please!
-MRG 1/10th scale T.Rex Skull replica. SAA. $45 plus shipping.
-MRG HAL 1/6th scale flash drive PROTOTYPE. This is the hand-built mockup that I made to show the factory and WB what we were planning to make. It is a REAL flash drive and the "eye" lights up! Only ONE in the world. Make me an offer.
-Executive Replicas 2001 Frank Poole (yellow suit) 1/6th scale figure. MINT condition with all original packaging and alternate hands, instructions, etc. $650 shipped.
-PNSO Megalodon figure. Amazing detail! 12 inches long with stand. $50 shipped.
-I have many other PNSO and other brands of Dino figures if you are looking for any. E-mail for info!
-M-72 LAW or M36-At4 Rocket Launchers. YES< I said rocket launchers. These are REAL rocket launchers, just fired. MINT condition, but NO rockets. (obviously). All components operate as original, just don't shoot. $750 plus shipping each. E-mail for info.
-Sex Panther cologne set. Spray bottle and Panther head combo set NO box or display. $40 plus shipping.
-Dr Strange Eye of Agamoto 1:1 scale Amulet. All metal with neck-strap. With packaging $45 plus shipping.
-1/6th scale Electronic Remote-Control Dalek. From the UK. BIG! Talks! LOUD! Drives around on floor with remote control. Drives dogs and cats nuts! $175 plus shipping.
-Factory Entertainment Goldeneye Device (loose). I had this reworked with brighter LEDs and the shop bead-blasted it to correctly match the original prop's matt finish. NO KEYS or Display case. JUST the device. $200 plus shipping.
-Desmond Llewelyn autographed card. $50.
-Pulse Rifle Parts! I just picked up a batch of all of the parts from the machine shop! All metal buttstocks, barrel shrouds, mag bases, etc etc. NO shrouds or SPAS parts, sorry. You can see them here:
https://www.ebay.com/str/sdstudios-Shroud of Turin front-half-only, FULL-SIZE replica by Artifactory. Scanned off the original! Comes with info booklet. $50 plus shipping
-Blade Runner steel upgrade barrels. Replaces the terrible plastic barrel on the Tomenosuke replica with a REAL steel hollow barrel for more authentic look! $80 shipped!
-HCG Martian War Machine. This is the HUGE 20-inch wing-span resin replica that sold out many years ago. Everything lights up and includes display stand but original package was too damaged, so it is NOT included. MINT condition. $750 plus shipping.
-SD Studios Star Trek Medical Kit. This set is my personal one and I HATE to sell it! Includes one metal season two (hissing) hypo, working med scanner with sound, field reader tube, spray healer, four vintage glass test tubes with colored fluids, spare magnetic vial for the hypo and the amazing, large-style leather pouch that was copied from a direct study and measurements off the original. $1200 shipped.
-SD Studios Star Trek Season one hypo. This is the chrome-finish, all-metal hypo with the sliding body that clicks in the up or down position with spring detents. Includes one removable magnetic vial with fluid. $275 plus shipping.
-Star Trek TNG Isolinear Chip Set. Includes seven printed circuits boards of various colors and sizes on a display stand. All laser-cut and silk-screened, with some printed paper labels. VERY nice! $150 shipped.
-Harry Potter Hogwarts Invitation letter. ACTUAL SCREEN-USED PROP! Comes with a signed certificate from the prop house. I only have ONE of these. $350 shipped.
-MRG Apollo 11 Full-size Lunar boot print replica. One of the coolest things we made at MRG. This is scanned from an ORIGINAL BOOTPRINT> NOT a sculpture! The replicas includes a booklet explaining how we did that. HUGE display! I only have this one. Normally $175. ONLY $125 plus shipping!
-Richard Coyle First-season LIS laser pistol. With working, blinky vintage lights, but NO sound. Rough, but lovable. $250 plus shipping.
-Studio-Scale 2001 Orion Space plane. This is the twin to the 44-inch model that has been travelling the world for the Kubrick exhibit for the last year and has been featured in numerous articles and TV shows. The two models were built at the same time and are identical and each one cost about $3500 just in materials and 286 hours each to build. JUST the display stands cost $500 EACH! This is GORGEOUS and EXPENSIVE. As in, very expensive. But available. Sigh. Snif. Serious inquiries ONLY please.
-HAL 9000 1/6th scale Flash drive 32Gb. With 2001 artwork. $40 plus shipping.
-SD Studios Luke ROTJ lightsabers. The shop just made eight new sets of parts. I would need about a week to complete and finish up. These are the same as we made for MR back in 2002. Same shop, same specs. Literally the same people making them! Just a few small changes (no injected plastic parts). $275 plus shipping.
-Sideshow Hot Toys 1/6th HULKBUSTER Suit. This is the VINYL and plastic version. NOT the $1400 articulated version! (which is not even out yet). This has all of the light up functions with some movement (Legs/arms/etc) and is GINORMOUS. The paint-work is immaculate and looks exactly like the regular 1/6th plastic and metal Ironman suits, but for $1000 less! $400 plus shipping TBD. Fairly heavy, and will ship in a BIG box.
-MST3K Tom Servo Replica LED LAMP!!! Yes, you read that right. This is a FULL-SIZE Tom Servo replica, made with most of the original parts, but I added an LED lamp to the head. Head still rotates and mouth works via wire with pull ring. Also includes a second, pre-painted "regular" candy dispenser head that you can change out if you don't agree with my BRILLIANT idea to make him a room lamp. I ran this for many hours to test it and it works PERFECTLY. Plugs into any 110v outlet. Very bright! May be the only one in the world? PRICE REDUCED! $750 plus shipping TBD.
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-"CLINT 1" Eastwood .44 Magnum: One of only FOUR gold-colored replicas in the US. Huge. Heavy. Obnoxious. All-diecast and machined metal, with wood grips. Can be broken-down and operates exactly like the real pistol! In wood display case with numbered plaque and a separate Harry badge replica included for free! Also has seven blow-back brass .44 shells that can be chambered and cycled. NO blow-back caps included. $750 plus shipping. OBO.
-Master Replicas Red Disney Monorail: NO shipper box. Has paperwork. MINT condition. Lights work perfectly. Super-cool model with monorail display base. $500 OBO plus shipping.
-Master Replicas LOTR Sauron Finger: Complete with shipper box, plaque, all paperwork, etc. MINT condition. It is #1416 of 2000. Ring light-effects work perfectly. $600 plus shipping. OBO.
-Proof That Tony Stark Has a Heart Display: This is the GOOD US-made one. Not the crappy, cheap Asian versions you see all over eBay. Mounted in a display case, but is removable. Arc reactor lights up when plugged in. Lots of machined and photo-etched metal parts. Rapid-prototyped and laser-cut parts, no resin that I can see. Interchangeable disk plates ("Proof..." and "I love you 3000"). Beautiful! $375 plus shipping.
-Artifactory SAL 9000 replica. All metal. Glass eye lights up. NO sound. $325 plus shipping.
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Resin and metal "Umbrella ship" model kit. Vintage 1950's design for Martian space ship. 17-inch diameter "solar radiator". I already extensively cleaned this part up. Took HOURS to do.... Done. Comes with detachable landing ship. BIG model. Just trying to sell off what I know I won't build any time soon or won't have the room for. I will even throw in an ORIGINAL Colliers magazine from 1957 with articles about this ship. A FLEET of these were supposed to be launched to Mars by the 1970s. Bwahahaha. $150 shipped.
SD Studios Communicator Cell Phone Proto. Made by me in 1997! This was actually licensed by Paramount and the head of PCP used this phone to make a call in front of the international press in 1997! The analog mobile phone that was inside has been long-since-gutted, but the shell and display case is intact. VG condition. 24k gold plated antenna lid. What could have been if my partner didn't embezzle money and ruin everything. Oh well... $1000 OBO.
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Zero Metal 1/6th Figure. INSANE Japanese figure. Sold out almost immediately. This is the WHITE snow camo version. Posable with huge laser cannon. Mint with all accessories and display box and optional decal sheet. Make offer.
Photo Reference. Star Wars or Star Trek. 5000+ plus (each) images on removable drives. $95 each (your choice or $150 for both). I discontinued these, but people keep asking for them, so what the heck...Bond Movie Magnets Set. 18 movie poster magnets in an oak and glass wall frame display. $75.
Sideshow Dr Grodbort's Raygun. The $100 plastic version. With original retail package. Mint condition. $85 plus shipping.
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BEGIN SOCIAL MEDIA POSTING:
-I understand that may many people are upset about the excessive delays in getting the HAL 9000 product delivered and the recent total lack of response from Master Replicas Group. To be clear, I officially resigned from MRG on May 15th, after I had laid-off all of the staff (including myself) in early-April. Several of the remaining management personnel/share-holders are still there, and they have been running the company since my departure.
I have made numerous attempts to communicate/ask questions/suggest conference calls to discuss the company moving forward, and to-date I have received no response from anyone other than their lawyer saying "We will get back to you soon..."
The situation is absolutely unacceptable and customers are entitled to know what happened. I can't post everything, as I have no desire to engage in a legal battle with the company I started, but I will try to clarify as much as I can. I would like to add that in the three years of our operation, we shipped many thousands of orders out (often the same- or next-day) so we were generally very successful there. The delay currently affects ONLY the HAL product.
On July 23, 2020, MRG filed for chapter 11. This has been posted elsewhere on FB, so it is not a secret. Please note that this is a reorganization, not a dissolution, and I understand that there is a plan to move forward with the company and its share-holders (I am one of them). I don't know any more than that, as the current management has refused to share any information with me for the last few months.
I want to say to everyone, I am SO sorry this has happened. I spent three years of my life trying to make sure this did NOT happen. I even hired two financial consultants to provide an on-going third-party review of the company and finances to see if we were making any mistakes so we could correct them in real-time. I took this business extremely seriously and the responsibility of people pre-paying for our lead product heavily weighed on me on a daily basis.
This was the company that I and my family started and were supposed to be working for, for many years. I hoped for this to be my last big business before I retired. Because of circumstances well-beyond my control, I am now unemployed, along with the rest of our staff.
Having experience with unethical business partners in the past (like at the original MR) I had hired several qualified family members and outside consultants, so we could have a core-staff of people that we could trust. We all knew that this would be successful and we all agreed to work together to make great products and absolutely no "screwing around" with the finances. We were always extremely careful how we spent money. There were no excessive purchases and all larger expenditures were run past our investor and other managers first, before we paid out any money.
Almost every person who worked here also took a pay cut to be at MRG. I personally took a $30k/year pay-cut to serve as CEO. So, I lost about $90,000 working for this company, only to now be out of a job and have no money. I literally don't know what I will be doing now. I sacrificed a big salary because felt that the rewards would come "later". Unfortunately, other people had different plans. I will not name names, so please do not ask.
This company had enormous potential. My staff and I had designed numerous amazing products that may now never see the light of day because others had "different plans". Many of them were completely designed and developed, but never put into production, because we didn't want to spend too much money, too quickly.
This situation is tragic for everyone involved. I have no words to express how I feel about this situation.
I will summarize what I can here. I want to be clear...I was the CEO of this company, and the business is ultimately my responsibility. However, as I hope you will see from the details below, there was a long-term plan to have me removed from the company and have it be taken over by other people. All of our staff, our consultants, and several of MRG's vendors also know exactly what happened in the last three years, so I am not being paranoid or blame-shifting.
This will be a data-dump, so things are not necessarily in date-event-order. These are just the FACTS as they occurred. I cannot share any more information than what I am including below. I also cannot interact with people asking me the obvious next-million questions, as I cannot risk that. I hope you can understand and respect that. Any further answers will have to come from the current management of the company. I have not/ cannot reply to e-mails or messages on this subject. I am not ignoring you. I was warned by their lawyer to not do so.
EVERYTHING I write below can be verified by 9 or 10 direct witnesses and almost every person has agreed to testify to these facts if needed. I also have kept a printed file for the last three years, and many times when there was an "incident", I documented it in an e-mail and printed it out for my file if things ever fell apart. So, the following information contains ONLY indisputable, verifiable FACTS:
Approximately three years ago, we formed the company, obtained an investor, and started conducting business. As everyone knows, we did a crowd-funding to test whether the HAL project would even be viable. It was very successful, so we moved forward. I had informed our investor that we needed X $$$ to do everything we needed to do. He initially invested 1/3rd $$$, but stated that as we progressed and met various milestones, he was good for the full amount. That sounded perfectly fair, as we had received the Indiegogo funds to offset some of that, so we got started.
One of our founders was an electronics engineer, so he would design the HAL electronics and specifications with another one of our staff. I would coordinate the project, but mainly stay out of the specific details for the majority of the project.
Two people (not me) were given pretty much exclusive freedom to design the HAL project. I interjected information and feedback where needed. This project should have taken about 6 months to design from start to finish. It took over 24 months. Because of these delays, I sent dozens of e-mails and conducted numerous phone calls (over 100?) pleading with everyone involved to get the project done because of the critical timing and the fact that we would run out of money before the product ever shipped.
These emails were always responded to, but in practice, were ignored. I therefore brought in two additional outside engineering consultants to help shepherd the project to production. Both parties resigned, stating that they could not work with X and Y, "They didn't know what they were doing", and that they were both going to "Run this company into the ground". (Their words, not mine). X and Y often reviewed the design of the HAL with me and now that I HAD to become more involved in the specifics of the project, I provided hundreds of feedback e-mails and phone calls that the design was overly-complicated, too expensive, and was not manufacturable. Once the product design was finally completed and submitted to the factory, they reviewed the CAD files and their response was" "Not manufacturable as designed." (Again, their words, not mine).
X and Y were warned numerous times during the project that this was going to happen by myself, and others. The three of us all have engineering degrees and have over 90 years of manufacturing experience between us. We were essentially ignored.
Over an approximately 18-month period, X and Y sent several emails and had several phone calls with our investor stating their unhappiness with me and my continual "interfering" with their HAL design. I had visited the investor in the summer of 2019 at his office and he provided me with copies of some of these e-mails and told me: "You should know what your guys are doing behind your back". On a subsequent phone call, I asked X about it and he said: "I swear Steve, I never sent anything to the investor." I told him that I had the printed e-mails in my hand.
Because of the mounting delays, we brought in two engineers from the original MR to shepard the product through manufacturing in China. Almost immediately, it was obvious that there was friction between the co-founders and the engineers. Our consultants stated that the product was "being wildly over-designed" and that it would not be manufacturable. During conference calls, I acted mainly as a referee, as the parties literally screamed at each other. I kept issuing deadlines, stating that these were not to be exceeded and that ALL work had to be completed by that date. Those were always discussed, but were functionally ignored and one deadline after another passed for one reason or another.
As predicted, it took over 24 months to get a final design from our staff and once submitted to the factory, they told us it was "not manufacturable as designed". The design also FAR exceeded our original estimates for tooling and per-unit cost. Both engineering consultants warned me about this and both parties (who hadn't spoken to each other) told me that it was obvious in speaking to Y, that he was going to "take your company away from you" and that I had better do something about it. This now makes about six people who gave me this exact-same warning over a two-year period.
I discussed this with our investor, but he repeatedly told me that I had to work with Y because the investor was afraid Y would sue the company if we tried to separate from him. In a later phone call to Y, he told me "If you try to get rid of me, I will sue the company." That is a direct quote.
Our investor also had his CPA review our financials every month and we would have a phone call every month to discuss our burn rate, expenses, planned purchases, accounting methods, etc. EVERY month, he told us he was "very happy" and to "keep up the good work". Our accounting staff went through this process religiously every month to make sure that no one could come back later and say we were doing anything that was unauthorized or unethical.
I and our financial consultant met with our investor around June of 2019 to discuss the company finances. I provided extensive financial reports and a proposed going-forward plan. I emphasized that the company would run out of money between December 2019 and February 2020, if no additional funding was supplied. I reminded him that the original business plan was for $XXX and that the company had started out under-capitalized, and he had promised us more funding. The investor said not to worry and that "when the funds were needed, they would be available". He asked me to create a use-of-proceeds document and said that once the document was reviewed and approved, funding would be provided. This never happened, obviously. Around September 2019, the investor stated that he was going through a divorce and that his assets were all tied up for some indeterminate amount of time.
Y informed Steve last year that he was owed $127,300 by the corporation. Steve asked for some type of documentation. None was ever provided. Keep in mind that this was never discussed, agreed, or approved by anyone. The debt simply came out of nowhere. He claimed that it was for "excessive amounts of time that he had spent working for the company", but no prior warning was given that this was coming. He then submitted to Steve a loan document which required approximately a $9000/ month payment. All of this despite the CEO's noting to everyone that the company could not take on any more major debt and an additional funding was needed. Furthermore, the loan documents stipulated that if any one payment was missed, that person would acquire all property and goods of the company, both tangible and intangible. This means for a $127,300 "loan", he would acquire approximately $600,000 worth of inventory, plus all of our contracts, intellectual rights, designs, etc. I told that person that there was no way ANY CEO would ever sign an agreement like this. I had several finance and legal professionals review the contract and they all said the same thing (despite not having spoken to each other)... That this was a ploy to try to acquire the company out from MRG.
Because THAT didn't work, Y then sent an email last year directly to our factory in China that is manufacturing the HAL product with a contract directing them to acknowledge that he owned 100% of the design of the HAL, stop manufacturing it immediately, and if that was violated, he would take legal action and all damages were payable directly to him personally. The factory refused to sign this contract, obviously. This was never discussed this with me prior, nor did they even CC me on this email. The factory contacted our manufacturing engineer, who called me immediately and sent me a copy of the contract. That was the first I knew anything about this.
I called our investor right after this and I said that that was a violation of EVERYTHING and that I had had enough. He said that we shouldn't take any action against that person, as he was afraid that person "would sue the company."
Because Y incorrectly informed the factory that he now owned the design of the HAL with no prior warning or discussion (which was in violation of our original covenants and agreements) AND threatened to sue the company if we used HIS design without some written agreement and the repayment of his $127,300 "loan", I hired X and Z to completely re-design the HAL as a 100% MRG-owned design and take it to production. This caused months of additional delays. This is the design that is currently held by the factory in China.
Unfortunately, because of all of the misdirection, delays, and now-24 months of redesigning, re-re-designing and general drama, by the time we had a viable design to go to production, the company had burned through almost all of the funds needed to pay for it and the investor subsequently backed out of his agreement to provide additional funding.
Despite having extensive reasons and documentation for terminating one employee X, another person informed us that X was going to sue us for "wrongful termination" and Y listed numerous things that X was going to be filing. I asked X how he knew "so much detail" about this. X said he was "just guessing". Our attorney had later communicated with X's attorney and found out that Y had recommended him to X. I asked Y about this and he said he had not done that. Hiring an attorney for another employee to sue your own company is an absolute violation of their fiduciary responsibility and cost the company about $60,000 in settlement and legal fees. I told our investor that there was no way I was going to use the company funds to pay off someone who should have been fired months before because of their terrible performance. I was not going to reward someone for abusing their position and authority. The investor told me to just settle and they would pay any resulting fees. I did that at their direction and then they later backed out of the deal and MRG got stuck with paying the $60k settlement and legal fees. This is HORRIBLE and I could not stop it.
Because of numerous incidents with two people, the company spent approximately $70k in legal fees that would not have been necessary if everyone worked together properly. In addition, the company wasted $40k paying a settlement to a person so we would not be sued for "wrongful termination". He was also paid for two months for no work, while he was on temporary furlough until we could determine what to do with him. Our HR manager made sure we did everything "by the book." This should never have happened.
In addition, we hired X and Z to redesign HAL numerous times and wasted hundreds of hours arguing over details that were a total waste of time. This resulted in racking up about $60k in excess engineering consulting fees to correct a design that should have been done correctly ONE time. Not over and over and over.
Our investor assured me that this was not going to be a problem and he said: "Keep going, more money is coming". Our consultants will testify to hearing and seeing this.
I invited our CPA to our annual board meeting at our attorney's office in February of 2019. After talking to Y for about 15 minutes, the CPA walked out and tried to leave. I ran out and convinced him to come back. After another couple of hours, he left again. I asked him why he was doing this and he stated that Y was: "Going to take this company from you and run it into the ground". "You are never going to be able to work together...you need to get away from him as fast as possible". He further stated that we had a fantastic company, were going to make a bunch of money, and that it was going to end up in a big lawsuit because of certain individuals.
I repeatedly warned everyone for the last two years that this was coming. I provided financial documentation every month as proof. While they would always respectfully listen and discuss, no one actually took any real action to prevent it from happening.
In 2019, Y and Z had a phone conversation that was apparently on speaker. A third party overheard the conversation and told me part of what Y said: "I am going to take over the company and run it my way." Z called me right after that call and separately confirmed what had happened. Z told me that I had better "watch my back" with Y because he was planning a take-over". He would not elaborate further.
Then, after all of that...
Because of Covid, our 2020 sales dropped by about $400,000 over the last six months. Our investor also stated that his businesses were hit very hard and he could now not invest any additional funds. We had already paid the factory an enormous amount of money for development, prototyping and tooling of the HAL. The money was not "blown". We actually received a full production unit from the factory that thousands of people saw at various conventions and on the internet in 2019. We were all very excited to finally get this product moving into final production.
As another note, our products were hit with a 15% tariff in starting 2019, so the HALs would cost us about $60,000 to $90,000 more than planned. That was manageable, but very, very painful.
I have asked several times for the minutes of the recent meetings that the board has been obviously having. Holding these meetings without my participation or input, especially voting new people to board positions as they have done, is a violation of our by-laws and general fair practice.
For the last six months, I have submitted financial plans to keep the company going on a much-decreased basis and try to slowly rebuild. I have created several financial documents that were sent to all parties showing recommendations on how to accomplish this. I have continually sated that we should find some way to fulfill the HAL orders so as to not burn our customers. Our engineer even got the factory to agree to split up the product into regular, smaller shipments, so we could get them out faster.
I stated that I would NOT accept bankrupting the company and we had numerous other options to be able to move forward. Every one of my plans was rejected. The investor unequivocally stated that we should close the company. Other board members clearly sided with this action as well. On a conference call, Y told our investor to not put any money onto the company, as it was not viable. I was out-voted, and that pretty-much sealed the fate of the business.
In summary, I tried everything in my power and even brought in outside help, but still could not stop this. It is very clear to me now that my vision for the company was NOT the vision that other people had for it. I cannot prove that this project was continually, deliberately delayed until it was no longer viable to manufacture, but you can formulate your own conclusions.
Again, please be aware that for every single statement that I have made here, I have witnesses and documentation to back it all up. I am so sorry this has happened and I hope that the new management will make everything right with the customers. I tried my best for three years, but could not stop this from happening.
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AKA: Simon
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