RIP peachy?

[Chayat]

You're likely quite mistaken.

I hope so but it feels like it stopped being embezzlement when they agreed the details of repaying it like a loan. Defaulting on a loan is civil matter.


Again, I hope I'm wrong

[oninoshiko]

I hope so but it feels like it stopped being embezzlement when they agreed the details of repaying it like a loan. Defaulting on a loan is civil matter.


Again, I hope I'm wrong

Ultimately I don't care who goes to jail and not... all I care about is shooting "lasers" at "resin"

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[iplayfast]

I'm wondering how close the project is to completion. If 50K would put it over the top, and get it certified and delivered. (Why does a kit need to be certified?), then a small business loan would do the trick. He's got the customers, he's got the parts, just needs kits put together and shipped. If the updates are to be believed, all the hard R & D has been done.

[Slatye]

I'm wondering how close the project is to completion. If 50K would put it over the top, and get it certified and delivered. (Why does a kit need to be certified?), then a small business loan would do the trick. He's got the customers, he's got the parts, just needs kits put together and shipped. If the updates are to be believed, all the hard R & D has been done.

I guess the problem is that a loan has to be repaid (unless you're David Boe, of course).

In this case the loan would essentially be so that Peachy could ship products that customers had already paid for - they wouldn't expect to actually make any more money. Where's the money to cover the loan going to come from? If there were 1000 other people anxiously lining up to pay $150 for a Peachy, just as soon as the existing orders were filled, then Peachy would have a pretty solid argument that they'd be able to pay back the loan shortly. As it is, however, a $50K loan would essentially be the bank handing $50K to Peachy backers with not much chance of seeing it again.

[Mjolinor]

What sort of numbers are we talking about here? How many have shipped, how many have paid for one originally, are sales still mounting up?

Lots of info about what has gone wrong but not a lot of info with numbers in. I really feel for both of these guys and with better planning it is probably something no one would have heard anything about.

[iplayfast]

I'm thinking that a loan could cover the cost of completing the project, and a second kickstarter done now that R & D is done to make a profit (and pay back the loan). Second kickstarter would have a firm reasonable ship date, and a hoped for ship date. Firm ship date would be a refund of money gained after Kickstarter (so 80% or whatever it is). The risks would be obtaining parts, everything else has already been done. The fact that the first kickstarter has finished would make it "safe" for kickstarter investors to buy in.

[amirjabri]

Dear Calvin,

Since you are in Hong Kong, can you even distribute via China more cheaply than we can in Canada/us? Isn't there trade agreements basically subsidizing shipping from China? Like if the kit is 1$ to ship from China to tge US, basically that's all you pay. But the same shipping from within Canada would be like 20$ for a kit. Would it not be cheaper then to ship and package everything from China even taking into consideration hiring five employees for a week? I'm sure that's the case because I can always get stuff mailed from China way way cheaper than from even locally.

[Very Equipped]

I feel sorry for the people in this thread, who despite the telling expensive production and theatrics in the Big Bad News video, still don't see a scam for what it is. You've been had by the "good cop/bad cop" scam. Let that sink in. They kept up the game for years, pretending all is well, letting new backers join, so there is a lot of money lost. More than the original backers. You just know some poor sucker just backed this the day before this "news" came out.

Ryan Shitston is claiming the problem is that he has all the parts but doesn't have the money to ship them. Wrong! Every purchase charged shipping on top. So if they were blowing through the shipping money, what did they plan to use to ship with then? Scam from start to finish.

[amoose136]

I feel sorry for the people in this thread, who despite the telling expensive production and theatrics in the Big Bad News video, still don't see a scam for what it is. You've been had by the "good cop/bad cop" scam. Let that sink in. They kept up the game for years, pretending all is well, letting new backers join, so there is a lot of money lost. More than the original backers. You just know some poor sucker just backed this the day before this "news" came out.

I tend to assume the best of people until information to the otherwise presents itself. From what I can see this is not a good-cop bad-cop deal but if it is I am certain it will be discovered by the police investigation in time. Regardless, it really makes no difference as far as where I go from here. You can throw up your hands if you want and wallow in the agony of the financial loss of $100-200 or you can look at the bright side: we have the designs. So yes, we'll probably never getting those printers or a single penny back but that doesn't mean we can't make our own.

[Toasterboy]

It seems like one could implement something similar to the Peachy concept with basically a laser cutter(of which there are several open source designs out there) over a build vat plus a pump hack or a stepper controlled submersion setup for z control, using the saltwater concept. Since the laser would be mounted perpendicular to the resin you wouldn't have the angular issues to deal with, though the top speed and scale of the printer would probably be less than the Peachy design would be capable of. Probably would want to isolate the laser gantry from the build vat too.