How can that possibly be?? "their financial situation is precarious"
They are cranking out IFE units as fast as they can, right? Just building the Alaska units alone should be covering the low, low burn rate. Everyone on the planet is testing them on their flights.
How many hundreds of thousands GW units have to have been sold in the last 6 months, all at HUGE margins to EDIG?? Surely the GW deal covers the burn rate!!!
If an OEM is announcing a major product at a trade show next month, EDIG must have been getting PAID to produce said product, no? Not to mention TGE, Muiscal, Digitalway are paying them, and all the alluded to, un-named OEMs as well, right? They aren't doing it for free like they apparently did for F-T, right?? They did learn their lesson, right?
Surely they have had follow on orders from Disney buy now and expanded the headsets into museums, amusement parks, and tourist spots around the world at this point.
All this with a low, low 200K burn rate? They cannot be in a "precarious" financial situation and have all the above that has been touted be true. They cannot have income coming in from all those projects and still not be covering the low, low burn rate, it's not possible is it?
" I think the reason doesn't have so much to do with the money per se, its more like F10 seems to have strung us along for close to two years(perhaps once they saw the initial strong response to the previewed product), probably to gain insights into the product development, and then used that knowledge to develop their own product. But we'll have to see what comes out in court.'
Yes, most companies upon seeing an initial strong response to a product will delay it for 2 years++, it builds the anticipation for the consumer.
" Let's be honest, though, if they hadn't sued, all we'd hear from the nut gallery is how inept management is for letting F10 get away with screwing us over.
Its kinda like those people who complain about invasion of civil liberties and make orwellian references to the patriot act, and then try to screw GW for not doing enough to increase internal security before 9/11."
actually, no. If you read my posts, and I know you have read every word I have ever written, you will see that I was pointing out the fact that the deal was screwed long before today's announcement. I tried numerous times to enlighten you to the fact that since EDIG could not, even to this day, recognize any revenue associated with this deal that something was wrong. I was saying that at least a YEAR ago. So management was inept and let F-T get away with screwing them along time ago, that is water under the bridge and this action does not change that. All they are doing now is burning the bridge to try and cover their butts with shareholders.
One more thing….if you truly think this is what happened:
"its more like F10 seems to have strung us along for close to two years(perhaps once they saw the initial strong response to the previewed product), probably to gain insights into the product development, and then used that knowledge to develop their own product."
Then you should be demanding an immediate removal of management for incompetence. The only possible scenario that could be worse them what I speculated on, that EDIG added nothing and underperformed and got the boot, would be if EDIG really has something and management spent 2 YEARS teaching F-T how to go it alone without them and then did not even get paid for the two years they invested. If EDIG management did indeed do as you suggest and invested all that time only to have F-T walk away and develop something with what EDIG taught them, then this will go down as the biggest management screw up in a long line of HUGE screw ups.
Maybe 6 months or a year of getting strung along, but 2 YEARS without being able to figure out what was going on? Even I didn't think they were that incompetent. You must think they are real dummies to suggest they got taken so badly.
