RE: XST Was the "professional" interim managment not brought in by the "Board of Directors"? Why did the board let it get to the point of needing "professional" interim managment?
Without knowing what the interim managment was left with, none of us can speculate as to their mistakes. Why does the BOD refuse to take
any of the responsibility?
I can name at least a dozen tech companies that have "worked for the demo" product but who have failed to make anything happen due to lack of real world experience,improper design or market research. Get real, the demo was a sales pitch. Obviously it was enough to convince Veritas to buy in, but maybe Veritas was the only customer in a position to lose out big... hence the problem we're in now. Certainly a company like Veritas would not entertain the idea of a lawsuit in the midst of their merger without due cause.
Look at Triangulum, they at least had a marketed product.. with sales even. Where are they now? At least their BOD knew they screwed up.
"this company can't get a break"... what about all of the customers and investors they stranded? Lets hear from the customers, any one have a contact list? surely they wouldn't mind defending XST in return for the mere possibility of purchasing more of their "working" product!
Sure would like to be a fly on the wall during discovery! I have a feeling its going to go one of two ways for XST, bad or worse. Lets hope they can at least stettle, tuck their tails between their legs, walk away and at the very least give us something for our troubles. That is if the creditors don't make off with it first.
Our dollar is weak enough already without all of these deadbeat tech companies dragging it down further.