Just got this email. I am goin to feel very violated....($5k)
ImagePoint Inc. (“ImagePoint” or the “Company”) regrets to inform you that as of the end of the business day on Friday, January 9, 2009, the Company began liquidation proceedings. The Company undertook significant efforts to refinance, recapitalize or sell the business but those efforts have failed; extremely challenging economic conditions and unprecedented dislocation in the capital markets complicated these efforts. It is the Company’s intent to maximize the value of its assets and pay as much as possible to its creditors but the liquidation proceeds must first be used to satisfy obligations to secured creditors. It is unclear at this time what proceeds will be available for distribution to our vendors and other unsecured creditors. No distributions will be made to shareholders by the Company.
For vendors in possession of Company inventory awaiting shipment or installation, the Company is working with its secured creditors and assessing its options for completion of those orders associated with such inventory. The Company is likely to be in contact with you concerning completion of those projects.
Posted by Dan Beach (Member # 9850) on :
Ouch.
Posted by Stephen Deveau (Member # 1305) on :
It looks like you have to bite off one of you toes and suck it back.
Posted by Mike South (Member # 4523) on :
quote:Originally posted by Stephen Deveau: It looks like you have to bite off one of you toes and suck it back.
