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5. Re: etc., etc. Aug 23, 2012, 23:16 PropheT
 
Cutter wrote on Aug 23, 2012, 21:53:
I don't see how that's possible given they've already blown over $50 mil and still have $30 mil in debt. That's why this whole thing with a mystery company reeks of utter BS so far.

Said the company: “OnLive, Inc.’s board of directors, faced with difficult financial decisions for OnLive, Inc., determined that the best course of action was a restructuring under an ‘Assignment for the Benefit of Creditors.’ The assignee of the company’s assets then sold all of OnLive, Inc.’s assets (including its technology, intellectual property, etc.) to the new company.”

In other words, they sold it to New Company (seriously), a shell that shields them from bankruptcy. At least, that's how I took it, especially since I can't find -anything- about this new company New Company anywhere.

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