Quote from: GigaCoin on April 05, 2014, 12:55:59 PM

Quote from: jimmothy on April 04, 2014, 08:20:52 PM

Quote from: Luttinen on April 04, 2014, 08:15:47 PM

@jimmothy

Calm the fuck down and wait for a clear resolution before shitting your pants like that. Freaking idiotic weak hands.

They've started burning through cash before launch, months before. Launch was just public opening. Staff was hired before that. $6 million or 4.378.920 Euros is not that much when you consider all the staff, promotions, lawyers, trading software, lobbying, travel expenses, building renovation, POS terminals and so on.

No, 6 million is a ton of money even with expenses considered.

If they hired an accountant there should be no reason they even came close to bankruptcy. Money doesn't just disappear. It was slowly drained from their wallet until there was nothing.

And what "clear resolution" are we waiting for? CEO and entire company just quit.

i agree $6Million is tons of money

startups usually lucky if they get $500,000

This project was ambitious. The brand awareness campaign alone must have cost more than that. There were also costs associated with events, renovating the building, buying equipment, specialized software, web design, lobbying, lawyers, ordering POS terminals, specialized POS software, travel expenses to conventions. Keep in mind George the CTO or COO went to Miami convention not long ago to talk about Neobee (Danny was busy in Cyprus at the time). http://www.coindesk.com/miami-bitcoin-conference-schedule-available/