The systemI actually worked for the company for a while and can tell you two things for sure.
1)The company had and should still have a working product and software. The new management of May 2001, decided to cut all ties with existing customers and abandon the old systems in favor of concentrating on a new advanced project that was being built for Veritas. When Veritas pulled out, I was told they were 90- 95% complete and the system was succesfully tested in live trails.
Being there was no other active customer, no revenue other than Veritas and no sales or other support staff, the company had to right-size its staff (to 0). Veritas has the systems and XS doesn't. That's why the company didn't have anything to go forward with and no revenue stream to revive the old stuff or to take them anywhere. (IMO not a very smart move)
This new hardware and software was firmly based on the old hardware and software. The first old system was succesfully installed in the Bahamas in 1995 or 96. They also had systems installed in several other countries and a few in Canada and the US, but couldn't seem to get any market penetration because of the high costs involved.
2) The company asked Veritas to let them release the news to the market for the duration of the project (8 months or so) but Veritas insisted that they had a major competitor that was looking at building similar systems and that the news would warn the competion that Veritas was in this project. The equipment may have given Veritas a competitive advantage, I don't know.
I am not defending anyone here because frankly how stupid do you have be to let this happen. It sure impacted the employees and their families not to mention you guys the shareholders.
I don't know anything about this lawyer or what his game is and you can sit and speculate all you want to, but the facts is still the facts.