February 15th, 2003, 10:12 AM
Mandrake Going B-rupt
Well, I just got my new issue of Linux Mag, and I read that Mandrake went BANKRUPT! which some how I find really weird... even though Linux is growing, it seems like everyday its gets less, and less free, and more and more $$! maybe its just me! anyway what do you think about mandrake? are they going to last very long in redhats shadow? -CB
Im Chris Bartholomew - 18 Years old
February 15th, 2003, 10:45 AM
The latest I have heard on Mandrake .....
Where there is life, there is hope
On January 27th, 2003, confirmation was received from the French Commercial Court that MandrakeSoft had been granted a six month observation and protection period to establish a continuation plan. This protection period provides the ability to renegotiate the Company's current liabilities. A court-appointed administrator has been named to assist MandrakeSoft during this process.
MandrakeSoft welcomes this latest news as a positive step to achieving solid financial restructuring which will make the company profitable.
In the continuation plan we're working on, MandrakeSoft's main objective is to reach profitability as soon as possible. When the continuation plan is approved, MandrakeSoft will leave the observation period.
As part of the Company's continuation plan, MandrakeSoft may initiate a small increase of capital in the upcoming weeks to help secure the scenario. Please contact us if you are in a position to participate.
Jacques Le Marois.
Chairman and President