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I'm sure everyone got the email and saw the announcement, I'm certainly bummed out...
Seems like you could just sell the guy's house to get enough money to get employees back and start shipping? That sounds way too easy as I'm sure he wouldn't just "give" you his house, but it makes the most sense to me.....
Thoughts?
Sure wish I could have had all you guys over at the hacker space, to tell you about this in person.
Its been awful not talking about it here on 3d print board. Just want you guys to know that Im still here.
Rylan, obviously Peachy as a company has suffered a huge, possibly permanently, project ending financial loss. I have a few questions:
- How many beta printers were shipped? It says in the report you spent ~$2.2K on shipping for beta testers but we've only seen a couple or so beta testers posting prints here.
- The update did not mention FCC certifications but would they not be required for the US?
- What about Backerkit? What about Indiegogo? How does that money figure into all this? Why was funding allowed to continue from Backerkit after the problem became apparent?
- Given that you said you weren't going away, what happens next? How do you plan to simultaneously make enough money to at least cover legal fees (and the small amount of debt in the bank accounts) and still operate at least at a minimal level?
- Not including costs of certifications, roughly how much are you missing for shipping and other barriers to delivery?
don't people who steal loads of money usually get arrested? why hasn't this happened?
Agreed. Rylan, there is an unbelievable amount of support for Peachy. Most kickstarter projects have nowhere near the patience or excitement that our community has had. Can you please make another video for the backers showing the current kit design, current prints, and laying out how much of the missing money would need to be recovered to get back on track? Is the design basically ready to ship in any form? Sounds like you have a lot of the components stockpiled and ready to go... what parts are missing? (e.g. the production run of the main board?)
Sounds like some kind of document was sent to kickstarter backers.... will the same thing be sent out to BackerKit backers and/or Indiegogo?
How involved are the legal authorities?
You can get through this! Wish you would have told the community when you found out though. The legal process to recover the embezzled funds would be pretty far along by now. Did you have any sort of business insurance that covers this sort of thing?
They initially had a repayment agreement, and only fairly recently filed with the police. The police will then first investigate before arresting... Arresting David does not help to generate income and pay back the funds stolen...Quote:
Originally Posted by kraftman
Things aren't as easy IRL as they are in TV shows! ;)
First off I'm in the UK so I'm basing this on our laws. I'm guessing there are 2 big issues here:
First the money started in his personal account so legally it's not embezzlement if the funds did not come out of peachys bank. Convincing law enforcement to uphold an agreement between David and kick-starter about the intended use of the funds will be harder to do. It could make this a civil matter rather than a criminal one.
Secondly coming up with an agreement where he repays the money means peachy Inc has treated the "theft" as a loan and will make it legally almost impossible to now call it a theft as this amounts to a tacit agreement.
Bummed
This is sad for all involved but particularly for the two parties.
There is no intentional dishonesty from either side, had timing been better or luckier all would have gone smoothly.
Only saw it after I saw this thread, announcement is on peachyprinter.com. Very disappointed but suspected something was up when the big update wasn't coming and nothing was being said.I read through the information in peachyprinter, and as much as everyone would like it to eventually be delivered, my realistic self is inclined to think it will never happen. Don't get me wrong, I hope it does, but as good Rylan's intentions are, he and his brother need to make a living too, so presumably will need to take up jobs on other things to make money to live.Plus, what little I know about legal things, it seems to be a long drawn out process at the best of times. If the money does eventually get paid back in say 2 years, will the people and desire to complete it still be there? Will the technology be outdated by then?It's a shame, but makes you think more than twice before you back another crowd funding project. It's not the first time I've got burned anyway.Thanks to Rylan for providing all the detailed information, I can only take it all on face value, so best of luck in your future projects.
Ideas to get forward on this.
First of all i would feel way better, if you, rylan, would post pics/vids/source/etc. of the current version of the peachy.
I think this is the best way to show the world, that peachy was not a scam.
If you have all parts except the lasers, would it be possible to ship these? if so, i would pay the shipping by my own.
You put a lot of work in the "sorry-video", now try to keep your head up, look to the goals you have reached.
And show every developed part, every fixed problem, every discovered issue to the world.
That would give you and us a better feeling.
On the money-side, if i get this right, you now have a 300.000$ claim on David.
So, why dont sell this claim. You would not get the whole money, but maybe 70% (dont know what the market is paying there...).
And someone who knows how to get his money would deal with David.
Hope Peachy is not dead!