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: > -----BEGIN PGP SIGNED MESSAGE----- > Hash: SHA1 > > On Thu, 16 Jan 2003 09:47:11 +1000 > > begin Keith Antoine <[EMAIL PROTECTED]> 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 > -----BEGIN PGP SIGNATURE----- > Version: GnuPG v1.2.1 (GNU/Linux) > > iD8DBQE+JqTr3uVcotqGMQcRAu3VAJ9s1qQSVmJqKuCIpEiaq16zRi5tJACfek+i > EX2LPgKIZktTGvMBuX7C1kM= > =mjfg > -----END PGP SIGNATURE----- > _______________________________________________ > Linux-users mailing list > [EMAIL PROTECTED] > Unsubscribe/Suspend/Etc -> > http://www.linux-sxs.org/mailman/listinfo/linux-users _______________________________________________ Linux-users mailing list [EMAIL PROTECTED] Unsubscribe/Suspend/Etc -> http://www.linux-sxs.org/mailman/listinfo/linux-users
