Lets not get our hopes up too high yet folks. This is a big world and there are a lot of people in it. I too think it would be sick if TK reentered paintball manufacturing, but lets not get our hopes up too high lest they be dashed upon the rocks of reality.
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Originally posted by CatoRockwell
It seems pretty unlikely. Even in bankruptcy Smart Parts was probably worth some serious cash and whoever buys them takes on whatever debt they have.
I don't think the White Hats LLC registered in Illinois is related. It was created several years ago and the press release says this new company was formed this year.
I'll be pleasantly surprised if TK is involved in this in some way, but I'm not betting on it.Comment
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Really? I thought that they had to liquidate to try to cover their stakeholders. If someone buys the company that would be a different story, but I thought this was a liquidation of assets to cover their liabilities.Originally posted by factoid
It's been a while since I had my business classes and worked on balance sheets.Stay Classy, AO...BEO: RIP / Topgun Paintball: RIP / Old MCB: RIPComment
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Funny thing how these WhiteHat peeps are talking about 'ethics' and such. If I recall, there was a recent story on 'business and ethics' involving Forest Hatcher (PTP) over on the Catshack Report.
Just some food for thought
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That would have been the case if WhiteHat hadn't come in. The company was put into receivership and a court-appointed receiver was most likely in the process of auditing their assets to prepare for a liquidation.Originally posted by zondo
In the event of a liquidation the first people paid back are creditors. Then it trickles down to other stakeholders like unpaid workers and shareholders (which may or may not exist in the case of Smart Parts, it depends on how it's structured)
What happended in this case is that WhiteHats came in with a full buyout before the liquidation occurred.
So they've assumed all of Smart Parts' debt, which sounds like unpaid rent on their manufacturing facility, and probably bank notes, payroll, etc... in exchange for full ownership of the company including the patents, brands, inventory and presumably the employees (at least for now).
My personal opinion is that this group is probably affiliated with Smart Parts in some way. Maybe it's an offshoot of GI Milsim or a new company started by the Gardners.Comment
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Mmm.
Methinks Scott knows more than he's letting on lol.
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Two days, and 51 posts, and nothing from TK...Originally posted by ArmyEngineer
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I am watching this along with the rest of you.
AGDsigpicComment
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It seems to be good news for everyone; hopefully it allows everyone in the industry a bit more freedom in bringing back old products and developing new ones, yourself included. This could mean a lot for AGD and Technicor alike. As interested as I am in knowing who's behind this, I also know that it takes a while to get a company off the ground, and even longer to get one back on its feet.Originally posted by AGD
Any chance you could send me a PM?Comment
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Do you have any opinions/speculations/comments?Originally posted by AGDComment
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Originally posted by going_homeMmm.
Methinks Scott knows more than he's letting on lol.
Who me? I know nothing. Why would I? Im nobody. Im just pointing out something interesting.Comment
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Here's an interesting article naming names:
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Honestly, I just hope that what ever they do they don't wind up causing as much damage to paintball as SP did... and who knows... maybe the roll back issues will finally be fixed lolGiant flying dogs are gonna give you a flame-thrower enema!!!
SUPPORT YOUR TROOPS!!!!!!!!
Chuff!!! Chuff!!!
ABQHCComment
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Originally posted by spantol
Hard to trust any of that when they got the part about TK and SP WRONG;
As many of you may recall, Smart Parts and Tom Kaye were involved in a lengthy legal dispute regarding the Electronic gun patent.Comment
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So does that mean you are NOT involved?Originally posted by AGD
That would make me a sad panda.Comment
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