Smart Parts Aquired!

[Frizzle Fry]

Here's an interesting article naming names:

http://www.propaintball.com/2010/08/...ers-the-scene/

But the people they named as "major partners" are not involved...? A lot of their other facts are way off too. I'm sorry, but if possible they know even less about this that than the people who've posted in this thread. At least nobody here has made false claims, and most of us have a better understanding of AGD and SP history (separate).

Perhaps Tom could send the nice man at that site an email and explain why it's not nice to make things up?

[MedicDVG]

Here's an interesting article naming names:

http://www.propaintball.com/2010/08/...ers-the-scene/

Just more unfounded speculation. I do find it credible that the Davidsons have something to do with it, as I have also heard that Forest is possibly involved.

On MCB a member was purported to be in negotiations for the IP package and the physical plant for a total of around 800K. What that means for the debt servicing I don't know. If you read the original Chapter 11 petition there was SIGNIFICANT debt to the tune of multiple millions of dollars with the top creditor being the Chinese manufacturing company.

Perhaps someone who knows bankruptcy law better then I (most of you that is) can explain if the debt just vanishes in liquidation and the creditors take what they can get, or as in the alleged case of White Hats LLC they are attempting to purchase the entire entity as is.

It doesn't seem to be a good business move to purchase multimillions in debt at fire sale prices if their only desire is the selling off the IP and physical equipment to recoup the investment. Frankly I don't see the value either in obtaining the IP and then spending further millions to defend and enforce patent actions. I don't see the profitability of that type of business model.

Now if they are only getting the IP, and the physical assets without assuming the debt, then 800k is a bargain at twice the price and there is some profitability in that...

This is fascinating to watch and I can't wait for the next page of the discussion...

[spantol]

I said it was interesting, is all. Parts I'd like to be true, parts I know aren't.

It'd be nice to see AGD unencumbered by intellectual property concerns.

[skipdogg]

While I also beleive the 'article' on pro paintball is not accurate in many ways, I also beleive Tom knows quite a bit more about this and is choosing not to say anything yet. Does this mean he's actually a 'white hat'....probably not (although I bet donuts to dollars he's been contacted by 'them'), but he knows more than he's letting on for sure...

Anyway, other opinions I have are as follows:
You need a group of brains, connections/industry knowledge and $$$$. so far the only specific people mentioned are high on the brains and connections list and low on the dollar list (possible exception Valken, but I cant imagine they have much cash laying around). So, you still need at least one, probably two industry heavyweights in on this. My pics are KEE or DYE or both of them. Someone or several people in white hats need some serious cash to throw around. I dont see that yet, so until I do, the other people mentioned are not able to pull this off (no offense to any of them!).

[cockerpunk]

it seems pretty silly to speculate with how little information we have. there crap was gonna get bought, everything out ther is speculation.

[Frizzle Fry]

it seems pretty silly to speculate with how little information we have. there crap was gonna get bought, everything out ther is speculation.

Except the statements made by the company...?

[cockerpunk]

Except the statements made by the company...?

a company that so far has only insisted that they are interested and have some money, not that they have purchased anything acutally. k, add this company to the list of interested parties in that IP ...

[factoid]

Just more unfounded speculation. I do find it credible that the Davidsons have something to do with it, as I have also heard that Forest is possibly involved.

On MCB a member was purported to be in negotiations for the IP package and the physical plant for a total of around 800K. What that means for the debt servicing I don't know. If you read the original Chapter 11 petition there was SIGNIFICANT debt to the tune of multiple millions of dollars with the top creditor being the Chinese manufacturing company.

Perhaps someone who knows bankruptcy law better then I (most of you that is) can explain if the debt just vanishes in liquidation and the creditors take what they can get, or as in the alleged case of White Hats LLC they are attempting to purchase the entire entity as is.

It doesn't seem to be a good business move to purchase multimillions in debt at fire sale prices if their only desire is the selling off the IP and physical equipment to recoup the investment. Frankly I don't see the value either in obtaining the IP and then spending further millions to defend and enforce patent actions. I don't see the profitability of that type of business model.

Now if they are only getting the IP, and the physical assets without assuming the debt, then 800k is a bargain at twice the price and there is some profitability in that...

This is fascinating to watch and I can't wait for the next page of the discussion...

The debt most certainly does not vanish. The way a chapter 7 filing works is that your assets are sold in a liquidation auction. The court appoints a receiver (that's what it means to "be in receivership") who audits your holdings and sells assets to the highest bidder.

The proceeds of the auction go first to paying liquidation fees, then to creditors, then to unpaid workers, then to shareholders if there's anything left.

If someone comes in and just buys up Smart Parts at this point what they are doing is acquiring their debt from the bank and other creditors. Usually at a reduced rate or they enact some kind of mutually agreed on payment plan.

White Hats or anyone else for that matter could sit back and wait for the auction and get things cheaper, but if you really want that property the best way to do it is to buy the company whole before the auction.

If a company can acquire Smart Parts' assets for cheap and get a good deal on servicing the debt, it's entirely possible that Smart Parts has a good enough cash flow to then become profitable again. If the company is not profitable then you only agree to pay as much as the assets are worth. So you shut down the factory, sell the equipment, sell the remaining inventory and hold onto the IP to recycle the brand names in your own factories, license the patents out, etc...

[Frizzle Fry]

a company that so far has only insisted that they are interested and have some money, not that they have purchased anything acutally. k, add this company to the list of interested parties in that IP ...

I'm sorry, maybe you have some special Cockerpunk-Edition dictionary in which the word "acquire" is defined as "window shop"?

I guess I'd forgotten your oft-mentioned "credentials" (your words not mine) that consist of meeting and having your picture taken with Tom Kaye (that's not an endorsement, pal...) and "publishing" videos to Youtube along with thousands of injured car-surfers, wannabe rappers and drunk beerpong players. You'll have to excuse me for not bowing to the clearly superior knowledge of a student who as of a few years ago was just some kid begging for people to donate barrels for a cockamamie barrel "test" that didn't account for temperature or humidity. It's been made clear through recent posts here that you rarely look into the things that you comment so authoritatively on, nor do you have the necessary real world experience to fully understand the things that I'm sure you've just learned in class and are applying to paintball applications.

Here are some Merriam-Webster definitions that might be helpful to you in the future:

transitive verb
1: to get as one's own: a : to come into possession or control of often by unspecified means b : to come to have as a new or added characteristic, trait, or ability

credentials noun
2(plural): testimonials or certified documents showing that a person is entitled to credit or has a right to exercise official power

adjective
1: exaggerating or disposed to exaggerate one's own worth or importance often by an overbearing manner

[BigEvil]

I'm sorry, maybe you have some special Cockerpunk-Edition dictionary in which the word "acquire" is defined as "window shop"?

I guess I'd forgotten your oft-mentioned "credentials" (your words not mine) that consist of meeting and having your picture taken with Tom Kaye (that's not an endorsement, pal...) and "publishing" videos to Youtube along with thousands of injured car-surfers, wannabe rappers and drunk beerpong players. You'll have to excuse me for not bowing to the clearly superior knowledge of a student who as of a few years ago was just some kid begging for people to donate barrels for a cockamamie barrel "test" that didn't account for temperature or humidity. It's been made clear through recent posts here that you rarely look into the things that you comment so authoritatively on, nor do you have the necessary real world experience to fully understand the things that I'm sure you've just learned in class and are applying to paintball applications.

Here are some Merriam-Webster definitions that might be helpful to you in the future:

transitive verb
1: to get as one's own: a : to come into possession or control of often by unspecified means b : to come to have as a new or added characteristic, trait, or ability

credentials noun
2(plural): testimonials or certified documents showing that a person is entitled to credit or has a right to exercise official power

adjective
1: exaggerating or disposed to exaggerate one's own worth or importance often by an overbearing manner

[CatoRockwell]

the gloves are really coming off in here.


Let's play nice children.

[factoid]

I'm sorry, maybe you have some special Cockerpunk-Edition dictionary in which the word "acquire" is defined as "window shop"?

I guess I'd forgotten your oft-mentioned "credentials" (your words not mine) that consist of meeting and having your picture taken with Tom Kaye (that's not an endorsement, pal...) and "publishing" videos to Youtube along with thousands of injured car-surfers, wannabe rappers and drunk beerpong players. You'll have to excuse me for not bowing to the clearly superior knowledge of a student who as of a few years ago was just some kid begging for people to donate barrels for a cockamamie barrel "test" that didn't account for temperature or humidity. It's been made clear through recent posts here that you rarely look into the things that you comment so authoritatively on, nor do you have the necessary real world experience to fully understand the things that I'm sure you've just learned in class and are applying to paintball applications.

Here are some Merriam-Webster definitions that might be helpful to you in the future:

transitive verb
1: to get as one's own: a : to come into possession or control of often by unspecified means b : to come to have as a new or added characteristic, trait, or ability

credentials noun
2(plural): testimonials or certified documents showing that a person is entitled to credit or has a right to exercise official power

adjective
1: exaggerating or disposed to exaggerate one's own worth or importance often by an overbearing manner

Nobody said they're window shopping, but they also haven't closed the deal yet. There is zero chance that this group is the only one interested in acquiring something like HALF of the paintball industry.

[Ratt]

Here's an interesting article naming names:

http://www.propaintball.com/2010/08/...ers-the-scene/

I clicked on the link, and this is what I get: "Error 404 - Nothing Found. The page you are looking for could not be found."...WTF?

[skipdogg]

I clicked on the link, and this is what I get: "Error 404 - Nothing Found. The page you are looking for could not be found."...WTF?

I think they realized the 'article' was so off base and they looked so foolish for posting it, that they pulled the article.

[KoolKat]

I think they realized the 'article' was so off base and they looked so foolish for posting it, that they pulled the article.

What you don't think their "Investigative reporting" was any good Looked to me like they were just running with all the wild speculation all over the interwebs here and calling it fact.