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Bullitt Group had $256 cash in the bank at the end, PWC reveals

meritez

ULTIMATE Member

To much acclaim, BGL's Defy satellite link was launched in 2023 along with the satellite-enabled S75 phone. Both were expected to be revenue spinners, with the satellite link winning Best in Show at MWC that year. Yet delays to the service's start date meant it launched in June instead of Q1.

Ok,

But this caught my interest:
Remaining stock of around £176,000 is held in various warehouses in China and will not be recoverable, the report adds.

That's phones, JCB, CAT and Motorola Defy phones which are satellite capable and I imagine they will be heading to AliExpress etc soon.
 
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And a really nice write off
Absolutely, I'm hoping the stock which was inaccessible to the failed company might be bought by the buyer of the IP as there should be value-add in combining the assets rather than fragmenting ownership as unsupported devices can't really be trusted if they might download OS software from compromised domains.

Debts disappear and only assets remain.
 
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