I have a small number of Neobee shares, so only out the cost of a nice dinner. I completely accept the risk involved in trading shares of tiny startup companies on a BTC exchange. The failure rate is comparable to pink slip companies or kickstarter-based ones. I've had a couple of other investments on Havelock go under, and overall I've still made money.
Anyway, what's more interesting is, why come out with lack of liquidity this late in the game? I can come up with a lot of different scenarios where this could have been resolved if he had been transparent all the way through.
I've been the CEO of a company that went under, and I can tell you how easy it is to get caught up in fire-fighting to the point where one takes one's eyes completely off the ball. Plus the emotional toll is huge. I wound up physically ill as a result. Still, you're not wrong.
I don't think this is irrecoverable though. The business is worth something (actually, I think a lot) and letting it rot doesn't make much sense, so I'm hopeful that someone will step up for the position.
Anyone have any ideas what the residual value of the business is? Storefronts likely have a value of zero, and things like computers sell for pennies on the dollar. There's some value, maybe, in the form of goodwill. The business is only really worth anything if Danny finds a buyer who is willing to inject capital.
Also, the shares we own are profit-shares, rather than percentage ownership, right? In a bankruptcy situation we'd be absolutely last in line to receive anything.
