MONEYMADE
10 years ago
$1M was loaned by TMG Colorado....SO GUESS WHAT HAPPENS WHEN THE PRIVATE EQUITY VULTURES DO NOT GET THEIR MONEY????
PEOPLE LIKE:
Adam J. Agron
aagron@bhfs.com
Denver
T 303.223.1134 F 303.223.0934
OF Brownstein Hyatt Farber Schreck ARE CALLED IN ON BEHALF OF TMG COLORADO AND THEY FLIP THOSE ASSETS FOR PENNIES ON THE DOLLAR.
Represented Verecloud, Inc., a communications service provider, in its tri-party recapitalization.
Related People: Adam J. Agron
WHO KNEW...2YRS LATER CLOUDRANGLER WOULD BE WORTH $12M RIGHT....
I MEAN AT THE TIME IT WAS "IN DEVELOPMENT" ROFL....ACCORDING TO THE CEO WHO RESIGNED AND NOW WORKS FOR THE SAME COMPANY THAT BOUGHT CLOUDRANGLER.
As of September 30, 2011, we had a negative working capital balance of $3,810,660, consisting of current assets of $269,156 and current liabilities of $4,079,816. This represents a decrease of $1,032,997 from a negative working capital balance of $2,777,662 at June 30, 2011. Our current assets consist primarily of cash, which is deposited in short term, interest bearing accounts, and accounts receivable. The Company intends to fund operations for the twelve months ending June 30, 2012 through a combination of (i) ongoing cash flow provided by cloud services sales to SMBs, (ii) the additional expected funding from TMG, and (iii) management of variable expenses.
MONEYMADE
10 years ago
READ THE LAST 2 PARAGRAPHS:
Verecloud, a privately-held company founded in 2006, will be incorporated into Westconโs cloud solutions practices which will be led by Verecloudโs former CEO, John McCawley. The Denver-based company provides mid-market businesses and technology resellers with a cloud integration and marketplace platform to manage cloud services.
โCloud solutions have become particularly intricate,โ said McCawley, โThatโs why our mission is to provide a single source for technology resellers and their customers to discover, buy, monitor, and manage their cloud services eco-systemโฆWe are very excited to be part of the Westcon Group team. Together, thereโs no limit to what we can accomplish for the cloud service providers and reseller community.โ