The company is having cash flow problems at the moment. We invested 10’s 1000’s into our litecoin collection and currently we have been unable to sell them (even at cost price).
We have full intentions to complete this contest and develop the bitcoins that were designed by the winning members of this competition but currently we are unable to complete this competition.
As soon as we sell some of our existing stock and generate some cash flow we will be in touch with the winning members of this competition and pay the prizes as promised and begin the development of the coins.
Whilst we understand this is not an ideal situation, it’s impossible for us to do anything else other than wait at this stage.
Thank you
I can have sympathy there, I lost some too trying to deal with litecoins, I think a lot of people were fooled when they shot up to $45/$50. Now I stay away from any and all "alt-coins".
With that said though, the contest should have been postponed or still open to voting until it was able to be completed.