Splashpower Goes Belly Up?

[HardOCP News]

You know, wireless recharging devices is a great idea, it’s just too bad it isn’t profitable yet. The company is looking for buyers if anyone is interested.

One of the world's foremost wireless power technology businesses, Cambridge-based Splashpower, has today entered into administration, unable to secure the final tranche of its planned funding. Restructuring and recovery professionals from leading mid-tier accountancy and business advisory firm Baker Tilly have put the business up for sale and are convinced that its substantial market potential will be recognised.

 

[Exavior]

With a highly skilled technical team developing ground-breaking products in a tremendously profitable marketplace

If it is a profitable marketplace then why are they hurting for money?

 

[Azhar]

I think it should've read "potentially profitable"

 

[aggiestudd07]

i would love to see this happen, but from the electromagnetism courses that i have taken, i just cant imagine it being very practical, esp with all the "green/energy conservation" crap thats going on right now. there is just too much power loss and i couldnt imagine all the new problems it would create

 

[Exavior]

I think it should've read "potentially profitable"

That makes me want to spend millions or billions on a company. Please come buy us and become owner of a company that might be able to make money someday, maybe,... we hope.

I don't know that either way is likely to intense a buyer. The way it is, would probably make most wonder if it is profitable then why do they need help. The way that you put it would make one thing they are a waste of money.

Either way it doesn't sound very good.