How well is Gizmondo doing?

[see colon]

apparently not very well at all

http://www.gamespot.com/news/6142505.html

In the filing, Tiger admitted that its "Gizmondo Europe subsidiary has experienced severe financial pressures from various vendors as its cash flow has been unable to service the requirements. This has in part been aggravated by a lack of investor funding. The company has been actively negotiating for further funds from debt and equity sources to assist the cash flow needs of Gizmondo Europe but there can be no assurances that this will be achieved."

 

[Dave Baumann]

Damn it! They've had top totty at the trade shows they attended!

 

[Shifty Geezer]

Gizmondo should die. It was run by a bunch of charlatans as an excuse to pay themselves lots of money. Any would-be investor with any sense will give them a wide berth and let the company fold, and any existing investor should be kicking up a huge stink at the way the directors have spent money.

 

[bobthebub]

Gizmondo should die.

Surprised no-one has mentioned this yet (a measure of how little anyone cares I guess)

But it seems your wish is about to come true

Highlighting the difficulties of entering the portable game market, the European unit of Tiger Telematics, the company behind the Gizmondo game device, has filed for bankruptcy protection, according a filing Monday with the U.S. Securities and Exchange Commission

http://www.redherring.com/Article.aspx?a=15419&hed=Gizmondo+Unit+Files+Bankruptcy&sector=Industries&subsector=Computing

 

[Shifty Geezer]

Dead (not that anyone cares )

Following the High Court's refusal to accept Gizmondo Europe's application for administration last week, it's been announced that the troubled company has officially gone into liquidation.

http://www.gamesindustry.biz/content_page.php?aid=14565

 

[hidefguy]

Dead (not that anyone cares )
http://www.gamesindustry.biz/content_page.php?aid=14565

For the sake of the workers there, I'm sorry that the company has gone belly-up, I met a bunch of them at E3 and they all came across as nice guys and gals. As far as the overhyped management of the product, this is another matter; was it really necessary to pay for Sting in the opening bash for the product in London? Their E3 presentation was simply absurd - it must have cost an arm-and-leg to set that up, only justifiable if they had firm intentions to launch the product here in the US, which they apparently didn't. As a potential developer early last year, they didn't even bother replying to requests for information.

Hoping that I can find these for about $5/piece and that the DRM can be legally bypassed.

 

[Shifty Geezer]

As is the way, you feel sorry for the low level employees. The mangement had a successful con going though. I wonder if the creditors will try to bring charges? Heck, maybe the employees should try to bring charges, given the ridiculous amount of funding the management were creaming off to pay to themselves.