Skully files BK, sued - Wrist Twisters
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post #1 of 5 Old 08-09-2016, 08:41 AM Thread Starter
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Skully files BK, sued

Lawsuit claims Skully founders spent money on strip club, rent, groceries - Business Insider

Too bad it was such a good name for a helmet company.

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post #2 of 5 Old 08-09-2016, 08:58 AM
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Strip clubs, rent and groceries? Seems like good places to spend money to me.
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post #3 of 5 Old 08-09-2016, 11:50 AM
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Maybe a bankruptcy attorney among us could explain... but...
Could this be a maneuver by the investment group to kick out the founders, wash the company of debt and acquire the intellectual property? They were at the point of manufacture so it would appear they could move into production relatively quickly with a renamed product.

Seems like the perfect time to step in and buy a product line for pennies on the dollar.

Thoughts?

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post #4 of 5 Old 08-09-2016, 01:36 PM
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Interesting theory.... it wouldn't surprise me if this would happen though...if there's money to be made then anything goes really... especially in the land of the Capitalism over there...

I'll send you a hi 5 if it becomes true.
Also if this does become true, be prepared to buy stock from the new company with the new skully brand :P though that could backfire if they did anything illegal to get there and you'd loose everything but... high risk high reward?

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Originally Posted by robroten View Post
Maybe a bankruptcy attorney among us could explain... but...
Could this be a maneuver by the investment group to kick out the founders, wash the company of debt and acquire the intellectual property? They were at the point of manufacture so it would appear they could move into production relatively quickly with a renamed product.

Seems like the perfect time to step in and buy a product line for pennies on the dollar.

Thoughts?

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post #5 of 5 Old 08-09-2016, 02:13 PM
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It's one of the dangers when you start a company and take on investors. Many times there are timelines and payments that you must meet and if you don't meet them you may end up losing control of the company and get kicked out. It seems like they had already gotten to that point, but maybe it was too far gone financially to be saved. It does seem like there is an opportunity for someone else to come in and pick up the pieces and and get it going....Erik Buell??

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