mandrake files bankrupcy

[Lee]

They're in  reorganization. They got fouled up when they went public with over 
the counter stocks. Instead of selling the stocks they gave away warrants to 
the rich and greedy to purchase stock. The rich folks never exercised the 
warrants so mandrake ended up with no real amount of stock sold, no new money  
and all the stock tied up in warrants. Since then they have been trying to 
get warrant holders to sell pieces of their warrants to members of the 
mandrake club who would buy the stock. About the only bright light to the 
whole thing is that mandrake got rid of the high powered investors and their 
incompetent managers who dreamed up the scheme.



On Thursday 16 January 2003 07:26, David A. Bandel wrote:
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> On Thu, 16 Jan 2003 09:47:11 +1000
>
> begin  Keith Antoine <kantoine at bigpond.net.au> spewed forth:
> > OFB.BIZ: MANDRAKESOFT DECLARES BANKRUPTCY
> >
> >  "MandrakeSoft, the developer of the popular Mandrake Linux
> >  distribution, declared bankruptcy in France today..."
> >
> > COMPLETE STORY:
> > http://www.ofb.biz/modules.php?name=News&file=article&sid=192
>
> Don't jump to conclusions, especially bad ones.
>
> They've filed for bankruptcy protection.  I don't know French law (I
> believe it's based on Napoleanic Law vice Common Law -- someone correct me
> if I'm wrong), but most countries have varying levels of "Bankruptcy".
> Expect Mandrake to be around for a while.  The management team did them no
> good, but they have the business to recover from this.
>
> Ciao,
>
> David A. Bandel
> - --
> Focus on the dream, not the competition.
> 		-- Nemesis Racing Team motto
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