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Considering they didn't even manage to seal the deals, where did all the money go?
by Zirro 15y ago
Considering they didn't even manage to seal the deals, where did all the money go?
- EToS 15y agoAeron chairs!
- rhizome 15y agoExecutive and contractor pockets, though they probably didn't get the whole $77MM, as that kind of thing tends to be doled out via milestones. Still not chump change all told, I imagine.
- LogicX 15y agoThey spent on a large center code test - multiple recruitings over many months - of which myself and some coworkers participated. Not sure that I can say much more about it due to NDAs.
- dan1234 15y agoFrom what I understand, a lot of the raised money was for the advances required by the various labels in order to close the deals so I'd imagine a lot of money was returned to investors once it was clear the deals wern't going ahead. There's a bit more on the story here: http://musically.com/2011/12/31/beyond-oblivion-shuts-down-before-ever-launching-commercially/ http://musically.com/2011/12/31/beyond-oblivion-shuts-down-b...