'…and under this variation of bankruptcy which is valid in California the company as of this moment does not exist and portions of it are being acquired by a brand new entity but what that means is all of your options are gone.'
I would love to understand what this variation is and if it's actually legal from any lawyer types out there.
When I was at Instant Action, a lot of people (outside the company) considered OnLive a threat & competitor to us. Interesting to see that they ended exactly the same as we did - all-hands meeting, layoff, have stuff out of the building by the end of the day. At least we got severance packages.
So how do all the Kickstarter backers of Ouya feel about their potential content partner's creative bankruptcy?