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Supposedly 34 mil of customer money was in escrow. They were only operating of the 15 mil in investment. I don't know if that is true. If they invested that 34
by samfisher83 10y ago
Supposedly 34 mil of customer money was in escrow. They were only operating of the 15 mil in investment. I don't know if that is true. If they invested that 34 million they could have made some money in interest.
in http://www.droningon.co/2017/01/12/lily-drone-project-cancelled-32m-in-orders/ http://www.droningon.co/2017/01/12/lily-drone-project-cancel...
Apparently their original footage was from a DJI inspire.
- ionwake 10y agoSo basically the video was just of some guy controlling a drone? There was no actual following ? The wrist device didn't actually do anything ? Is this true ? Or did the prototype atleast work ?
- samfisher83 10y agoSupposedly all fake: http://www.droningon.co/2017/01/15/san-francisco-superior-court-pursue-lily-drone-legal-battle/ http://www.droningon.co/2017/01/15/san-francisco-superior-co...
- pmarreck 10y agoWell, DJI drones have "follow" features as well, so
- basseq 10y agoNot a bad idea as fraud goes: 1. Build slick marketing pitch. 2. Collect $35M in pre-orders. 3. Apologize after a year of "trying" and return the principle. 4. Make $1.75M in interest.
- microtherion 10y ago> Supposedly 34 mil of customer money was in escrow. They were only operating of the 15 mil in investment. I don't know if that is true. The bankrupcy filing posted above in the thread https://pdf.inforuptcy.com/pacer/debke/167122/dockets/2/1-A0D229D2-FCF6-11E6-9996-3326DBA93163 https://pdf.inforuptcy.com/pacer/debke/167122/dockets/2/1-A0... largely bears this out. On page 13, they declare that they still have $25.6M in their bank account, and a bit more than $31M of current assets in total. By Kickstarter standards, this looks like a fairly responsibly run company.