The Downward Spiral of Amiga Incorporated

[Tigger]

I have read everything here and still, there are no real FACTS.
I have to agree with Korodny, although things are very quiet, partners of the company are not sueing and AI has not filed for bankrupcy.

 What do you think are not real facts, the cases against Amiga Inc by Matt, Bolten & others are part of the public record, Bill McEwen's deposition is part of the public record, what exactly is not a fact in your mind here??
     -Tig

[Tigger]

If you're going to do such a detailed report, and you're going to mention the "2.2 million" number several times, wouldn't it also be neccessary to mention that the vast majority of that amount (1.8 million IIRC) are not real debts, but money owed to the company's executive officers (assuming that McEwen tells the truth, but obviously you are ####uming that)? Bill and Fleecy certainly won't sue themselves for outstanding salaries.

The issue is Bill is either lying about the total debt (which I think is most likely) or lying about the big 3 being owed 1.8 million.   Why???  Bill McEwen is saying that all other debts is about 400K, basically we know that number is way lower then it really is, but lets add it up for fun.

Bolten Peck     (with Interest)       80K+
Matt Fontenot  
(Interest starts tomorrow)            37K+
Management Group                         50K
Delivery Service                                15K
CAM                                                      65K
Party Pack                                          70K

Now that Total is 317K, so apparently either 83K is enough to pay back wages for 11 people for the last 15 months (plus the paychecks they missed ala Bolten & Peck) or Bill is severly underestimating the debt he currently has outstanding.   Thats right either Ray, Gary and the rest of the gang work for less then $500 a month, or Bills number is inaccurate.    Frankly the back salaries for the non big 3, virtually has to be over 1/2 a million and of course increasing weekly and could be quite a bit larger.   If they quit, McEwen would owe them double that (plus interest) according to Washington State Law, (both Matt & Bolten got that in their cases).  

You should either come up with a detailed explanation (why Amiga Inc. going bancrupt would "have the potential to change this") or you should avoid stating things like that. Asking the involved parties for a statement regarding this matter before posting it would be a good idea too.

When a US company declares (or is forced into) bankruptcy, the judge in the bankruptcy court (especially if its a liquidation) usually declares null & void all contracts made by the company.  Thus the two partners would not have their licenses with Amiga Inc.   There are lots of sites where you can read all about Corporate bankruptcy, but understand, Amiga Inc will no qualify for a reorganization (only liquidation) unless they find a white knight with a big pocket book.
     -Tig

[Tigger]

You know as well as I do that Party Pack and CAM promotions
would not be included in that figure unless a class action
was undertaken and was successful.

I'm sorry you are very confused, the debt to the Party Pack people and the CAM people is a debt for Amiga Inc, how do you think that is not true???   Why do you think that they have to sue Amiga Inc for this to be a debt???  

You know nothing of the status of the employment of the
Amiga Inc staf, how they have been paid ( salaried? options? per
profit? voluntary ).

I know what Bill McEwen said during his deposition, (and the letters to the judge dating back to August).  He is on the record saying he has not paid his employees since June 2002, and that the employees are working with the belief that they will get their back wages when it is turned around, thats all in the deposition, now if you want to argue what that means, fine, but lets understand that I am just using the legal documents (including the deposition) for my analysis, so if you want to argue I am wrong, I am going to need similar backup for your point of view.

Really upsets you that Hyperion and Eyetech may continue to
trade unnaffected doesn't it. I notice you have finally allowed that
chink of doubt to creep into your argument "usually" and you still
miss out who the contract is with - or perhaps you do not know yourself?

No actually it would be great, but Bens comments make me not believe its so, we've had lots of business partners declare bankruptcy (including Commodore), I actually know what happens at a US Corporate bankruptcy, I have a bankruptcy proof contract (Bens line) doesnt happen.   I am guessing you are implying that Bens contract is with Amiga LLC (the Gateway subsidiary) , if true, that would be great, but since every comment has talked about his contract with Amiga Inc, either Bens been lying to us (and in fact to me directly at Amiwest) or your belief is wrong.   Does every contract get cancelled??  No, in fact your implication that I have said that they do is incorrect if we look at past postings, but a bankruptcy judge is going to look for large cash inflow on a contract (or loss of vital services) to not cancel a contract during a liquidation, and neither the contract with Hyperion nor that with Eyetech meets either of those two criteria.
     -Tig

[Tigger]

If a company can't pay it's employees, then pretty soon it won't have employees. If they are in this much debt, I wonder why the investors and creditors haven't pulled the plug on them so far. Obviously there's more to the story. I didn't say the article was full of lies, everything on there might be true, but it's bullsh!t because I feel there's a large part of the truth that's missing from this article - and as such it's a very misleading article.

Glaucus, all the data here is from Bill McEwens depostion, in his own words, he said the company was insolvent, he said he hadnt paid any of the employees since June 2002 (Yes 2002), he said that they only about $100 in the bank, and he said they were 2.2 million in debt.   How can posting pieces of Bill McEwens own legal deposition be bu!!shit??   You are free to read the deposition yourself, its available on the net, or you can contact the court house and get an official copy.    For over a year now according to letters and depostions from Bill McEwen, Amiga Inc has been broke and about to get new financing.  It will soon be two months since Bills deposition, and they still dont have new financing, they just owe Bolten another $1600 in interest, Matt another $800 in interest, (the other creditors more money in interest), the employees another 200k+ in missed salary given the salary info Bill gave us before, plus taxes, interest etc for all the missing payments.  This isnt a healthy company, and I really dont seen someone buying in on a company bleeding out at a rate of 6 figures a month.
      -Tig

[Tigger]

Simply because the website did not make a note of this.The only thing they said was "here is the deposition"
It really does not matter to me, the deposition was incomplete, pages missing many pages unsigned and finally any and/or all of those posted pages could have been altered in any way and we would be none the wiser.
Furthermore, I would find it very odd if Amiga Inc had decided not to include those pages they would have numbered the deposition like they did.

First of all there are lots more documents then just the recent filing in the Genesi case that includes large portions of Bill McEwens deposition.  Are all the pages of the depostion made available, no only the pages concerning the lawsuit were .   However the implication that the pages were altered is laughable for 3 reasons.
1) If you believe that those who got the documents from the courthouse modified them it is easy to get your own copies, feel free to do so.   2) If the lawyers for Thendic filed a falsified deposition with the courthouse, he'd be disbarred and he also would likely be criminally charged, in addition Amiga Inc could seek civil damages, so that didnt happen either  and 3) Amiga Inc would have been posting about the issues with the deposition if there were any in fact there lawyer would have been legally obligated to do so.      

It seems to me when you present something, you only number the presentation in sequence.

It did state in that deposition that they refused to answer some things as it was sensitive information in some way, and that by allowing that information to go public would unduly harm Amiga Inc.

First of all look at what we know is on the skipped pages, who Amiga Inc is trying to get money from, who they are trying to work deals with, for what, etc (we can get that from the front and ends of the pages we have).    None of that is really pertinent to the case between Thendic and Amiga and so isnt included.   If its pertinent to the case, I am sure Amiga Inc (if they file anything, and if they show up next Friday) will be presenting those pages as part of there information to the Judge.

on another posting, AMiga Inc may be crooks, they may have scammed everyone with thier coupon scheme, however there are two sides to every story, the court cases are not finalized, and OS4 is not yet released for them to make good on thier promises.
Until these things happen I believe judgement should be reserved ( I believe the catchcry is innocent until proven guilty). Should we trust them? Definately not!

The Thendic court case isnt decided, though we are going to hear something next week, but Bolten, Matt, Airborne, the Landlord, all those cases have all been decided and all not in favor of Amiga Inc.    There isnt two sides on those cases, they went to court, Amiga didnt show up, they won their cases, Amiga still hasnt paid them.   Plus frankly with Amiga Inc racking up debt of over 100K in virtual salaries a month, plus thousands on interest on actual judgements,  theres not alot more to say.   50 days ago, Bill McEwen said that new funding was days away, (much like he has said in letters to lawyers and judges for over a year now)  guess what, it hasnt happened, and I'm guessing its not terribly likely to happen at all.
     -Tig

[Tigger]

These pages could have been obtained from anywhere.They could be complete fabrication for all I know as the only way we can verify them is to obtain such records ourselves, and as such are suspect.
If said pages were supplied on the internet from various people, with various loyalties then I would be able to take it on faith they are accurate.

You can feel free to call, write or email and get clarification or even your very own copies.    You could even bet Rich a $1000 that they have been modified (he offered Ray $1000 if he could find a single modified page) and yet Ray has no money from Rich (and apparently no money from Amiga Inc for the last 15 months.

If the missing pages are not required, why were they included in the deposition in the first place? I am fully aware the american legal system is screwy at best, but I have yet to hear a reasonable explanation of this.

The written deposition is a word by word transcript of everything said at that meeting.   Large portions can be the lawyers arguing over matters, getting clarification of questions, having someone read a document, etc.   Everything that happens is recorded, the Thendic lawyer only submitted the portions he needed for his case (which is what he is supposed to do).

You have access to thier payrolls do you?

I know what 2 of the employees made officially, I know from Bill's comments what his, Fleecies and Randy's salaries are (and basically they exceed 100K a month when combined) and I know what its going to take to pay 11 other people per month.  
      -Tig

[Tigger]

Part of the debt is owed to the founders of Amiga Inc…

I assumed that the founders classified their contribution as a loan not as capital/shares.

Bill, Fleecy and Randy didnt invest money in the company, they found a VC to do that, the 1.8 million that Bill says is owed to the big 3 is back salaries, they like the rest have missed paychecks for 15 months.  
       -Tig

[Tigger]

Note to self: never preorder an 'Amiga' product EVER again.

No, just do what I do, whistle a happy song all the way to the mail box, because it could be there today and then curse all the way back to the house when its not there for the 475th day in a row    :-P
    -Tig