So more and more talk and no actions.
You are ONLY NOW getting to the first days when someone other than HF has control over the delays. We are basically at day ONE because of the stonewalling of HF management. Even after they agreed to give up some control, they then delayed before doing what they agreed to. Disgusting behavior. Just like their testimony where Simon "has no idea why they set up the Delaware LLC".
Just read the sworn testimony at the link above. While people were asking for refunds AND MANAGEMENT INCLUDING MONICA knew the company was insolvent, they gave everyone raises (some of them $100,000 per year) for FAILING and they started paying 85,000 per month in "royalties" to a delaware company for use of the IP that the delaware LLC paid NOTHING FOR.
This is probably the most important point everyone needs to read in the testimony for themselves and think about what kind of people would do that. You have wasted $20 Miilion of other people's money and your actions AFTER it is clear the ship is sinking is to enrich yourself personally through cash raises and an attempt to steal the assets of the company (that other people's $20MM paid for) by transferring them to another company that MOST employees (including the CFO) own shares in.
All the employee raises were done prior to the CFO joining the company. It was Simon and his wife that granted them according to employees. The CFO disagreed with the raises and fought with management to lay people off and keep them from buying lunches for everyone every day- this came from one of the layer off employees. Eddie was seen taking the staff to lunch at a pretty expensive restaurant and we complained to management and were told it didn't happen (through the support line) so they continued to lie to customers even then.
The equity is typical in any silicon valley company for any executive and is worthless so who cares who has equity? Eddie squandered his family money and Simon and he never put a cent in anyway, so its irrelevant. Focus on facts that matter. Where is the committee plant get creditors money? They claimed to have one weeks ago and nothing has been posted. A tiny bit suspicious that maybe there isn't one?
I do not know if the committee has plan or not. The CRO is the one that will matter right now. The committee still does not have the power to run the company. The CRO has that power now. Seriously, I will explain how bankruptcy works if you call me if only to stop you from mistakes like this. I would assume if you understood how this works that you may be able to help instead of stating crazy things like they are facts.
You speak like a used car or RV/boat salesman, I thought you were a lawyer? Guess that read was wrong.
I have been through three bankruptcies where people tried not to pay me. I have received full payment in two of them and the other person is still making payments after trying to hide in PR. These are not fun. Especially when management spent their time wasting away creditors' money instead of trying to turn the business back into an ongoing concern.
Attempting to steal the assets from the company is not irrelevant, it speaks to character and lets people know that there could be more diversions to look for. And I am not sure that it is a slam dunk that the IP is back in the estate where it belongs. Do you have citation for that?