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
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....
Bankruptcy in Finland means that the company ceases operations and administrator is appointed to take care of remaining assets, which then are usually sold to cover some of the remaining debts etc. Alternatively company can be sold in whole and new owner reimburses the company and debts stay as they were.
Debts can also be restructured, which is usually done before declaring bankruptcy. This is what Jolla did, but it doesn't let them away with the tabletgate.
6. Microsoft to throw the towel in on Windows and to place an all-in bet on Sailfish, using it for PC, tablet and phone.
My option is more likely than yours.
Yes! And then MICROSOFT will release a Lulla-phone (You know, Lumia/Jolla) with keyboard AND they'll also make the whole source public. I think we are on to something here...
