Ch. 7 Bankruptcy Filed 9/6/18

They’re only “losing” stuff they were only able to have because of the fraudulent business practices they were willfully engaging in. I couldn’t have less sympathy for them.

 

FTFY

 

I'm curious as to the line of shit they fed him to calm the masses.

 

Pretty shitty thing to say about members, just go make more. The PF’s put themselves in this situation, fuck them. I don’t feel one ounce of sorrow for them. I hope they live on the street, eat garbage, and can’t afford to put gas in their luxury vehicles. Poor them.

 

So how do we keep our eyes peeled for their next scam company they create? We can’t let this happen again... (3x is enough?)

 

Tesla

 

Only buy something that’s in stock

 

As a small business/hobby myself, I understand the need to stock supply, but the costs are extremely small compared to the fab world. Even then I still struggle with it. I think there is a middle ground between upfront payments and delivery times. It's not so much getting what you pay for immediately, holding constant stock, it's more about reassuring that the product paid for is delivered in the time frame that protects both the consumer as well as the business, i.e., avoiding this situation where people have gone a year without receiving their items and are far less likely to receive a refund. The company also wants to avoid the charge back and cancellation when they have money wrapped up in the order already. I'm fine with waiting for delivery of a product that I know holds a lead time as long as I have that window of protection to guarantee I can be recouped if the company fails to hold up to their end of the deal. I've learned quite a bit from this ordeal, and while a lot of people might feel put off from ordering from other vendors because they're afraid to run into this, I know I have an out if they fail to deliver in a reasonable amount of time.

 

Exactly

 

Maybe he is working on his truck or spending time with his family?

 

Most likely speculation given their FB posts
Yes there likely was a potential new investor. Given their stated assets vs liquidity, it did not seem as bad, and their 'goodwill' is a valued asset, one they've built up through their customer service and branding of #pelfreybuiltfamily. Besides any existing investor, not being happy about any change in the valuation structure when a new investor comes in (generally the original owners have to give up their shares and consequently control which looks like already happened once), I'd speculate the new potential investor did not know the extent of the challenge, where there were unfulfilled orders dating back over a year. Any sense of good will valuation is now depreciated next to nill, and if the new potential investor felt deceived in any way of this information, that would make them drop any deal right away. Not surprising that the existing principal lashed out in deflection then, blaming the customers; a type of behavior under stress that has probably caused the individual lots of problems before. Again pure wild ass educated guess and speculation.

 

That was personal bankruptcy they filed not the company bankruptcy.

 

They’re good people though... jk. Seriously I hope it works out for as many people as possible I doubt everybody affected will walk away with money back in their pockets. I’m curious how many people are affected that aren’t aware of this situation because they’re not active on social media or anything. Everything else I have to say it’s been said by other members already. Again I hope it works out for everybody affected.

 

Or... what looks more likely is that they didn’t lose money. They took money. Our money. My money. They could have stopped this shit long ago and started doling out refunds or saying they had extended lead times or any number of things. To thenblame the customers from scaring off their investors is bullshit. To take orders after already starting their bankruptcy knowing they wouldn’t fulfill it is fraud.

 

When you see something like this, a lot of the traffic comes from crawlers (Google and the like). So while a few are real people, most are machines.

 

You are 100% correct!
If people want to be heard, then the acceptable method is sending a letter to the judge. Your letter will be read and become part of the case file. Inundating the court with telephone calls will not be in your best interest! Take the time to write a letter.