Ethical in Deep Financial DooDoo, Will Keymaker Ben Lose Ability to Use His Tool

[bargainbloodhound]

eBay Developer Ethical Faces Financial Crisis

Ethical Technologies founder Scott Samuel said the company is facing financial problems consisting of debt of more than $450,000, not counting the lease. Ethical has moved out of its offices in a cost-cutting move.  Samuel blamed the financial crisis on an executive no longer with the firm who was authorized to take care of bills and never did.

full article: http://auctionbytes.com/cab/abn/y06/m01/i31/s01

related topics:
Auctionbytes Article on Ethical Tool: Only 100 Users Benefit From Tool http://community.tuliptools.com/index.ph...204.0.html
Should thee Ethical Sell Through Tool Used by 250 PESA Members Be Allowed? http://community.tuliptools.com/index.ph...100.0.html
Cheap Traffic Generating Thread: Ethical Tools Beer Can Collection For Sale http://community.tuliptools.com/index.ph...433.0.html
Ethical Tool Rumored OK'd by eBay http://community.tuliptools.com/index.ph...476.0.html

[Anita]

A guy losing his tool is a serious situation!!!

[bargainbloodhound]

Not only serious, but painful too :blinkie:

[xppman]

what to say.

Better just

[jezebel]

Will Keymaker Ben Lose Ability to Use His Tool

Are you asking will he naturally lose use of it with age or do you mean unnaturally by scissors or tomahawk? 

[dimucci]

His tool went limp when all the other AMS introduced their own duration changers.

[bargainbloodhound]

[quote author=dimucci link=topic=2443.msg8627#msg8627 date=1138738422]
His tool went limp when all the other AMS introduced their own duration changers.
[/quote]

Basically.  It meant the competitive edge he got by having exclusive rights to use Ethical's tool in the Motors key categories vanished.  I'm sure the other 100-250 Ethical PeSAites have also seen a decline in the effectiveness of their duration changing strategy since competing products were introduced by larger tool makers

Auctionbytes has issued an update to their article:

Update: Scott Samuel called to clarify his statement about the amount of Ethical's debt. He said a significant portion of the $450,000 has been converted from debt to investment, the rest consists of the API and the office lease. Ethical is currently in negotiations to wipe out the office lease debt. Samuel said he could not go into further details because of legal, but said the company is not $450,000 in the hole.

http://auctionbytes.com/cab/abn/y06/m01/i31/s01

[amy]

Quick someone explain to me how it is possible to provide service to users and bill them if you don't have a customer list. Someone explain how it would be possible to contact them through the PESA discussion boards or individual emails if you don't have a customer list.  LSOSB. 

Samuel had said over the weekend that if eBay pulled Ethical's access to the API, he had no way to efficiently inform his customers because documents, client lists and company contacts had been stolen, but said he could contact users through the PESA discussion boards and through individual emails. He said the company continues to collect payments from active customers through checks and PayPal payments.

Was he referring to the beer can collection when he made this statement?:

He said a significant portion of the $450,000 has been converted from debt to investment

[xppman]

Can someone explain to me how it is possible to do IT
at all if you don't have your TOOL either?

I hope their TOOL continues to rot away.

Long live the sharp shinny sock um..
I mean tool.

[regic]

[quote author=xppman link=topic=2443.msg8644#msg8644 date=1138756553]

Long live the sharp shinny sock um..

[/quote]

Socks are the most disliked gift:

Those surveyed ranked socks as the "Worst Holiday Gift"

http://community.tuliptools.com/index.ph...280.0.html