@Darrin

Quote:

Deadboy has quoted from Amigaworld again.

Noted. And if they start following links to the other threads, there is no telling what kind of image this is going to paint for them and where it might lead.

#6

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@number6

I'm a member of another forum where you can't even read the posts unless you sign up as a member (and you're not banned). The posts don't even show up on search engines. I used to think it was a pain, but I see the benefit now.

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On the plus side, if those "investors" follow the link here and read other threads then perhaps they will all rush out and buy an A1 X1000!

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@Deadboy & for the benefit of any other Investor Hub readers:

"So essentially ~7 months after Amiga Inc got notification of this new lawsuit, they supposedly) sold assets under a new company made out of thin air to WRIT. "

That seem to be essentially correct.

If this surprises you then look at their previous actions.

Inception Group liability timeline (subject to correction, please contribute if any info is known to be wrong or missing)

Outline of Inception Group Cases:

2001 - 2003 - Inception Group Real Estate LLC (aka The Landlord) vs Amino (aka Amiga Inc (WA)) - Unpaid rent
2008 - 2009 - Inception Group Real Estate LLC vs Amino (aka Amiga Inc (WA)) - Failure to pay in accordance with Judgement obtained 2003
2012 - ? - Inception Group Real Estate LLC vs Amiga Inc (DE) - PRESUMED TO BE: Failure to fulfil obligations as guarantor to Amino's debt

'Amiga' Companies

Company 1 - Amino Developments incorporated 2000, immediately changes name to Amiga Inc (WA).
Company 2 - Itec LLC incorporated December 13th 2002.
Company 3 - KMOS Inc formed 7 October 2003. Changes name to Amiga Inc (DE) January 2005.

Notes on Common Officers and nested ownership:

From later documentation (Inception Group lawsuit filings) it emerges that Amino (aka Amiga Inc (WA)) owns 4 Million Common Shares in Amiga Inc (DE). The total number of Common shares issued by Amiga Inc (DE) (and therefore what proportion 4M constitute), and any attached voting rights, are not detailed (no information found as yet).

It should be noted that there is no known share ownership or links between Amiga Inc and Amiga Games Inc beyond the (presumably licensed) use of the trademark "Amiga".

However it should also be noted that there are common signatories across a wide range of contracts, with the same person (Typically Bill McEwen and/or the late Pentti Kouri) acting as signatories for both vendor and purchaser as well as guarantor in some cases.

Other vs Amiga Inc (WA) cases:

The following judgements are not all associated with Inception Group, but are included as they are informative towards the timeline.
- Washington State vs Amiga Inc (WA) - Unpaid Taxes
- Bolton Peck vs Amiga Inc (WA) - Unpaid wages & medical bills

The following known court cases are excluded from the timeline for clarity, and because there are only so many hours in the day:
- Thendic vs Amino (aka Amiga Inc (WA))
- Gary Hare vs Amiga Inc (DE)- Unpaid wages
- Hyperion Entertainment vs various Amiga companies (and counterclaims)

Associated IP & trademarks:

This case involves the movement of IP and trademarks between companies

IP
- AmigaOS family of products (OS 1.x - 3.1 & 4.0 onwards)
- AmigaDE aka AmigaAnywhere stuff (Not an OS, not related to AmigaOS)

Trademarks
- Amiga trademarks (Boing ball, "Amiga" name, etc)

Timeline:

---------Round 1---------

2001
- Sept - Case initially filed by Inception Group Real Estate (Landlords) against Amiga Inc (renamed from Amino Developments) for $20,237 for unpaid rent.

2002
- Jan - Judgement made against Amiga Inc (WA) in favour of Washington State (unpaid taxes)
- Aug - Judgement made against Amiga Inc (WA) in favour of Washington State (unpaid taxes)
- Aug - Amiga Inc are in arrears paying wages still due to an ex-employee (Matt Fontenot), claim to be in the middle of a round of funding, and will pay when next funding round arrives.
- Dec - Judgement made against Amiga Inc (WA) in favour of Washington State (unpaid taxes)
- Dec: Judgements made against Amiga Inc (WA) in favour of Bolton Peck (unpaid wages)
- Dec 6th - Paperwork relating to Judgements made against Amiga Inc (WA) in favour of Bolton Peck delivered to Amiga Inc (WA)
- Dec 13th - Itec LLC Incorporated

2003
- Apr 23 - Nothing publicly happens this day.
- Oct 10 - Nothing publicly happens this day either.
- Nov - Judgement made in favour of Inception Group for $147,476.87 plus interest/expenses against Amino (aka Amiga Inc (WA)).

2004
- March - Gary Hare testifies (in Thendic vs Amiga Inc case) that the IP relating to AmigaOS was all transferred to Itec LLC April 23 2003, and from Itec to KMOS (Later to become Amiga Inc (DE), aka the current 'Amiga Inc') on October 10 2003. Cue surprise from everyone.

---------Round 2---------

2008
- Back in court, Amino (aka Amiga Inc (WA)) hasn't paid a bean.

2009
- Negotiated settlement agreed - Amino (aka Amiga Inc (WA)) agree to pay Inception Group $150,000 within 90 days of Judgement.
- Overrides previous judgement.
- In the event of non-payment Amiga Inc (DE) agrees to act as guarantor.
- As collatoral, 4M shares in Amiga Inc (owned by Amino (aka Amiga Inc (WA)) are securitised with option to transfer ownership of shares to Inception Group LLC in the case of non-payment.
- Inception group may re-register the shares, and/or (whether transferred or not) use any powers conferred by ownership of the shares.
- Shares are described as 'Common Stock' however no details of any attached voting rights (or any other optional powers or restrictions which may have been issued with the shares) are listed.

---------Round 3---------

2012
- October - Back in court again. No info yet available, however if past form holds then Amino (aka Amiga Inc (WA)) hasn't paid a bean, Amiga Inc (DE) hasn't paid a bean.

2013
- June - Amiga Games Inc sold to Writers Group for $500,000 despite having no products, history, or apparent assets.
- Startup date is unknown, my money is on some time after October 2012 though. No document to hand which states so, but presumably they are licensing any "Amiga" trademarks from Amiga Inc (DE).

---------Fin---------
---------...?---------

It is presumed that 4M shares in Amiga Inc are valued significantly lower than $150,000 plus 5 years 12% interest, otherwise why continue with the decade-old pursuit?

(Forgive the rough draft, or better yet contribute corrections!)

(EDITS - corrected IP transfer dates, formatting, typos, cup of tea)

Last edited by Boot_WB on 12-Aug-2014 at 06:29 PM.
Last edited by Boot_WB on 12-Aug-2014 at 06:25 PM.

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@Boot_WB

A nice little summary there.

I noticed "TRNMAN" posted that he enjoyed our posts here. I wonder if this is "Tronman", one of our users who worked for Amiga/Amino and (if I remember correctly) was left being owed a lot of money. If it, I bet you have some interesting insights or theories into what is happening an WRIT.

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@Darrin

Quote:

I noticed "TRNMAN" posted that he enjoyed our posts here. I wonder if this is "Tronman", one of our users who worked for Amiga/Amino and (if I remember correctly) was left being owed a lot of money. If it, I bet you have some interesting insights or theories into what is happening an WRIT.

Slight correction. The nick used on Investor's hub is "TLRMAN".

Regarding direct references on Amigaworld to stock used as a promise is lieu of payment, the only record I have is from Davy Wentzler:

Quote:

I've generally spent the last couple of years trying to get money or stock from them for about 6 months of unpaid work. He always comes up with the same stories (next funding round, 2 more weeks, bla bla..).

But if you have to read some other references:

Source

Note: This is the "short list" of course, and does include posts from the aforementioned Bolton Peck under the nick @Tronman as well.

In addition, @deadboy has posted on moo since early 2000's, so he prolly doesn't personally need to be informed about very much.

#6

Last edited by number6 on 12-Aug-2014 at 02:45 PM.

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@number6

Damn, I need to get my eyes tested. I think it was Bolton Peck's posts that rang a bell with me.

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@Darrin

Again, not my field of expertise, but I found this:

http://www.macroaxis.com/invest/ratio/WRIT.PK--Probability_Of_Bankruptcy

#6

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@number6

Wow, 96%! I'm surprised they think it will take up to 2 years though. Unless some products come out soon or another "investor" is found then they're going to be out of cash again soon (if they're not already).

Down to 5c today.

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@Darrin

Yes. That might be a record low on a close.

Interesting Investor's hub post about WRIT from the past here:

http://investorshub.advfn.com/boards/read_msg.aspx?message_id=81121137

I haven't searched for resolution, but I've seen a lot of dead links. heh.

Also noticed today by reviewing links in this thread that John at eab had updated his factual posting in September, after I linked to it in August.
So it might be worth another look.

Post #1

#6

Last edited by number6 on 14-Aug-2014 at 03:26 PM.

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@number6

http://ih.advfn.com/p.php?pid=nmona&article=63279549

They have just handed in their quarterly report.

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@CritAnime

Oh wow! That's bad. That's REALLY bad!

From reading it, it appears they have been borrowing like crazy and converting debts into stock. Is this because they can't pay their debts? At least we can see where the shares are going.

This company would be completely insolvent if it wasn't for their claim of $652,526.00 of "intangible assets", which if you read further down appears to be the "software" mostly acquired from Amiga Inc. Now, can anyone recall what "software" Amiga Inc owns that is worth over half a million Dollars? I recall a snowman maker program...

Quotes worth noting for this quarter:

#1: Revenues. No revenues were recognized for the three months ended June 30, 2014 and 2013.

They confirm they made no money. Bugger all.

#2: Other general and administrative expenses . Other general and administrative expenses $43,342 increased by $21,389 and 97.88% for the three months ended June 30, 2014 as compared to the same period in 2013. Those expenses consist primarily of company’s business development, consulting fees and other expenses incurred in connection with general operations. The increase is mainly related to the consulting fees related to the fund raising projects.

"Administrative Costs" went up so someone could be milking the dead cow.

#3: Loss from operations . Our loss from operations was $133,430 for the three months ended June 30, 2014 and $90,255 for the same period in 2013.

Oh dear! On track to make an annual projected loss of over half a million!

#4: The Company also had a working capital deficiency of $157,433 as of June 30, 2014. These factors raise substantial doubt about the ability of the Company to continue as a going concern. Although management is currently attempting to implement its business plan, and is seeking additional sources of equity or debt financing, there is no assurance these activities will be successful.

They're looking for more money to borrow. I'd be trying to bring a product to market.

#5: As of June 30, 2014 and March 31, 2014, we have $4,894 and $25,810 cash and cash equivalents, respectively. To date, we have financed our operations primarily through cash flows from borrowings from third and related parties.

Borrow, borrow, borrow...

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@Darrin

Wages and benefits. Wages and benefits expenses $68,547 increased by $22,269 and 50.39% for the three months ended June 30, 2014 as compared to the same period in 2013. The increase is mainly due to the increase in salary rate.

This made me lol. No products yet they deemed it fit to give themselves a nice wage increase.

Must be profitable selling nothing. ;)

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@CritAnime

LOL. Or they hired someone to clean the toilet.

Last edited by Darrin on 16-Aug-2014 at 03:38 PM.

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@thread

Quote:

Although it was the Company's strategic goal to distribute a broad range of video game titles on the Windows 8 and iOS platforms during the 4 th quarter of 2014, lack of operating capital caused the Company to temporarily halt software development funding, which delayed the Company's overall gaming product release schedule.

Since all the talk and press releases was about holiday season 2013, help me with this one. Did this problem NOT exist 9 months ago? If it did not, then what was the "real" problem with holiday season 2013?

@CritAnime
Quote:

This made me lol. No products yet they deemed it fit to give themselves a nice wage increase.

No worries. Product is apparently in a "catalog" and that seems to be sufficient. If nothing is for sale, I don't see "increasing" being much of an issue, as having a reduced catalog does not seem to be possible by any stretch of the imagination.

Quote:

We intend to continue to look for opportunities to expand WRIT's business and increase its catalogue of both music and video game content, though acquisitions and licensing arrangements.

#6

Last edited by number6 on 16-Aug-2014 at 03:59 PM.

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@number6

Considering that they're not actually writing programs (for that they would need a team of programmers), but just looking at a way of distributing existing (old) games that have already been written under a licensee (we hope) and probably using some sort of emulation (probably UAE which already exists), I fail to see how a lack of "capital" prevented this. Lack of ability is more likely. As they don't have any new capital (and any "loans" they obtain seem to be used to pay existing loans and existing wages) then I don't see anything changing soon (or later).

I see this dragging on for a bit longer until the company finally sinks under the weight of its debts and then it will be a quick bankruptcy followed by some new company starting up and claiming to have acquired the rights to "Amiga Games" from the funeral pyre of WRIT.

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@Darrin

I see you're a subscriber to using the words in quotes method, like "business" and "company". heh.

My bet atm would be Elysian Labs, since they seem to promote WRIT and friends.

http://elysianlabs.com/news/

And they already have their sacred boing ball in place too.

http://elysianlabs.com/contact/

#6

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Given that they bought Amiga Inc you would think they still have access to all those BB10 games ready to sell. And given that they are just a QNX font end running a emulator, I bought one to try, it shouldn't have taken too much effort to get the games out of other platforms.

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@CritAnime

Quote:

Given that they bought Amiga Inc

I trust you mean Amiga Games Inc.

Anyway, the package was created by Amiga Games Inc. for WRIT, yes.

Quote:

Bill McEwen is President and CEO of Amiga Inc, which is a separate company from Amiga Games Inc., which is a wholly owned subsidiary of Writers Group Film Corp.

Previously stated by Patrick Roberts.

#6

Last edited by number6 on 16-Aug-2014 at 05:22 PM.

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@number6

Quote:

number6 wrote: Quote: darrin wrote: I see this dragging on for a bit longer until the company finally sinks under the weight of its debts and then it will be a quick bankruptcy followed by some new company starting up and claiming to have acquired the rights to "Amiga Games" from the funeral pyre of WRIT. My bet atm would be Elysian Labs, since they seem to promote WRIT and friends.

Darren Debono (domain registrar and named contact at Elysian) appears to be a former employee of, and current consultant to, Amiga (Not Games) Inc. Not sure how that works with an 'inactive' company. :)

Also (from Elysian 'About' page):
"Amiga Anywhere 2 is the next step in the development of the new Amiga Operating System [..]"

Ooops!
Pot, kettle, I suppose given how generically the trademark "Amiga" gets bandied about these days. Not sure that either side likely has the money or inclination to do anything about it though.

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