Sqeggs Posted May 22, 2018 Share Posted May 22, 2018 1 minute ago, HENRYSPENCER said: Couldn't it just be that comics are gaining popularity over baseball cards because of the success of the films and Beckett sees a horizontal acquisition of a comic book grading company (CBCS) as necessary and crucial to its long-term viability? Beckett has been around for years and can put more equity into the company to help it grow. What evidence is there that CBCS was sold because of financial issues? It seems unrealistic they'd have the number of graded books in the marketplace as CGC does given they only opened doors a few years ago. This appears to be what Metro is claiming in their law suit. Or, at any rate, they are claiming that the sale was intended to get CBCS out of an obligation (the details of which don't seem to be public knowledge) to Metro. HENRYSPENCER 1 Link to comment Share on other sites More sharing options...
HENRYSPENCER Posted May 22, 2018 Share Posted May 22, 2018 3 minutes ago, Sqeggs said: This appears to be what Metro is claiming in their law suit. Or, at any rate, they are claiming that the sale was intended to get CBCS out of an obligation (the details of which don't seem to be public knowledge) to Metro. wow. Link to comment Share on other sites More sharing options...
Park Posted May 22, 2018 Share Posted May 22, 2018 6 hours ago, GACollectibles said: I love the "logic": 1) I was at a show within the last year and there was a time when no one was at my booth 2) I haven't used my business Twitter feed in months Therefor I am going bankrupt. Phew, I'm glad I found out before it was too late! Or is it?? Sorry to hear that you have failed at everything. When and where is the sale gonna be or did you sell it all off already because of _______________________________? (fill in the blank with imaginary reasons) Link to comment Share on other sites More sharing options...
VintageComics Posted May 23, 2018 Share Posted May 23, 2018 2 hours ago, HENRYSPENCER said: What evidence is there that CBCS was sold because of financial issues? None. It's just talk by two people who have presented no facts and lots of imagination. That's not to say whether they are or are not having financial issues but so far it's all just empty speculation. Link to comment Share on other sites More sharing options...
Poka Posted May 23, 2018 Share Posted May 23, 2018 On 5/22/2018 at 9:05 AM, Jaydogrules said: Indeed. This image perfectly summarizes why they went belly up. And I guess them "moving" also explains why they haven't updated their Twitter feed in over six months: https://mobile.twitter.com/cbcscomics?lang=en The determined attempts of a few at rationalizations for this insolvent, failed company here, on the CGC boards, are simultaneously sad and amusing and ultimately futile. -J. Since we have a few lawyers on the board. 2 questions. Are these statements libel and secondly is CGC at risk being dragged into it given they facilitate these statements. Purely curiousity as we all know that the best way to handle people such as this is to ignore. Link to comment Share on other sites More sharing options...
Ride the Tiger Posted May 23, 2018 Share Posted May 23, 2018 I had 6 different submissions to morty since they opened. Every one of them had some stupid issue that caused me inconvenience. I can see why they are going under if thats the case. Link to comment Share on other sites More sharing options...
gcstomp Posted May 23, 2018 Share Posted May 23, 2018 Such odd cheerleading, coupled with fabrications. Steve b posts on Facebook on regular basis, nearly daily. He explained clearly why partnership and move make sense because of the company expansion needs. He is beyond honest. The lawsuit is one blip, 15k in discount grading is less than 1 day revenue. You can post freely on other website and ask questions, or sit here and lie, just very odd. namisgr, Legion HQ, HENRYSPENCER and 1 other 4 Link to comment Share on other sites More sharing options...
Poka Posted May 23, 2018 Share Posted May 23, 2018 I just got a submission shipped from voldy. It sat in billing for a few weeks as I had given them my cc but somehow it got recorded as to be paid with personal cheque. It only got resolved with me given them a call and in 2 min all got sorted out. If they were in need of money I would expect them to chase all available payments. Morale - they don’t seem to be in short of money - but in short of people following up their billing namisgr 1 Link to comment Share on other sites More sharing options...
Mmehdy Posted May 23, 2018 Share Posted May 23, 2018 1 minute ago, Poka said: Since we have a few lawyers on the board. 2 questions. Are these statements libel and secondly is CGC at risk being dragged into it given they facilitate these statements. Purely curiousity as we all know that the best way to handle people such as this is to ignore. I dont think so, the complaint indicates that what is left of the "other" company is sort of shell of what it once was, implying little or no value to the former company. So, if any libel it would be contained in Metro's complaint and I am sure Metro has the best lawyers working on it. There is no doubt the "other" will still be out there, and possibly hook up with say "mycomicshop" since they are promoting a future convention together down the road in Dallas. I dont anybody is saying they are gone. I do believe that they took away some of PGX's clients which might explain why they restructured the employees if that post from a former employee is correct. But they really did little to the CGC which is clearly the leader in the comic book grading/pressing market. Link to comment Share on other sites More sharing options...
Jaydogrules Posted May 23, 2018 Share Posted May 23, 2018 13 minutes ago, gcstomp said: Such odd cheerleading, coupled with fabrications. Steve b posts on Facebook on regular basis, nearly daily. He explained clearly why partnership and move make sense because of the company expansion needs. He is beyond honest. The lawsuit is one blip, 15k in discount grading is less than 1 day revenue. You can post freely on other website and ask questions, or sit here and lie, just very odd. The next step and best move on their part would be for Beckett to officially change the name, so as to create some distance between itself and the previous debacle of a company. Making things right with metro ASAP would also be a good move, provided there is merit to its public lawsuit. -J. Link to comment Share on other sites More sharing options...
namisgr Posted May 23, 2018 Share Posted May 23, 2018 5 minutes ago, Jaydogrules said: the previous debacle of a company. -J. More make believe. You should stop while you're behind. Link to comment Share on other sites More sharing options...
namisgr Posted May 23, 2018 Share Posted May 23, 2018 8 minutes ago, Mmehdy said: I dont think so, the complaint indicates that what is left of the "other" company is sort of shell of what it once was, implying little or no value to the former company. So what of the old company is being left behind or phased out in the move to Beckett? Any graders? Any shippers? Encapsulators? Restoration checkers? Autograph authenticators? Customer service providers? And if none of these are being left behind, how do you make the unsubstantiated claim that the company is a shell of what it once was? Link to comment Share on other sites More sharing options...
Mmehdy Posted May 23, 2018 Share Posted May 23, 2018 (edited) 16 minutes ago, namisgr said: So what of the old company is being left behind or phased out in the move to Beckett? Any graders? Any shippers? Encapsulators? Restoration checkers? Autograph authenticators? Customer service providers? And if none of these are being left behind, how do you make the unsubstantiated claim that the company is a shell of what it once was? I am not making claim, simply read the complaint filed by Metro....go to page one, clink on the" bleeding cool link" link and read the complaint...it pretty clear what it says about the remaining assets...(page 4) Edited May 23, 2018 by Mmehdy Link to comment Share on other sites More sharing options...
namisgr Posted May 23, 2018 Share Posted May 23, 2018 (edited) 7 minutes ago, Mmehdy said: I am not making claim, simply read the complaint filed by Metro....go to page one, clink on link and read the complaint...it pretty clear what it says about the remaining assets...(page 4) So what got cut in the move to Dallas? The complaint only alleges that all the company assets were sold to Beckett. Metro claims that the new merged company has a legal liability to fulfill a contract with it. Edited May 23, 2018 by namisgr Link to comment Share on other sites More sharing options...
Jaydogrules Posted May 23, 2018 Share Posted May 23, 2018 1 minute ago, namisgr said: So what got cut in the move to Dallas? Voldy no longer exists as it once did, according to the lawsuit. The extent of "the move" most likely begins and ends with their meager customer database and comic book encapsulation and pressing equipment. But by doing it they will be saving a TON of the kind of silly overhead that lead to the company's demise in the first place. Still need to change the name and re-brand though. -J. Link to comment Share on other sites More sharing options...
namisgr Posted May 23, 2018 Share Posted May 23, 2018 (edited) 2 minutes ago, Jaydogrules said: Voldy no longer exists as it once did, according to the lawsuit. -J. No company that's been acquired exists as it once did. Even one worth a hundred billion dollars. That's what happens when a partner acquires all of its assets. But this has been pointed out to you several times in the thread already, and by multiple posters, proving once again that a horse can be led to water but not forced to drink. Edited May 23, 2018 by namisgr Link to comment Share on other sites More sharing options...
Cat Posted May 23, 2018 Share Posted May 23, 2018 'Meagre' hey? You've obviously seen their equipment to be able to make such a statement, so please tell us all more about the state they were in 'before the collapse'. How did their 'meagre' equipment compare with CGC's? How about PGX? What was missing from what you'd expect from encapsulation equipment? Link to comment Share on other sites More sharing options...
Jaydogrules Posted May 23, 2018 Share Posted May 23, 2018 2 minutes ago, namisgr said: No company that's been acquired exists as it once did. Even one worth a hundred billion dollars. That's what happens when a partner acquires all of its assets. You may be on to something. I was just thinking the same thing. It is very possible that Beckett was already an early investor in them and came in to clean up the mess and protect its own initial outlay (as opposed to acquiring them through an actual bankruptcy proceedings or something like that). -J. Link to comment Share on other sites More sharing options...
namisgr Posted May 23, 2018 Share Posted May 23, 2018 (edited) 9 minutes ago, Jaydogrules said: You may be on to something. I was just thinking the same thing. It is very possible that Beckett was already an early investor in them and came in to clean up the mess and protect its own initial outlay (as opposed to acquiring them through an actual bankruptcy proceedings or something like that). -J. Nope. When Disney bought Pixar, they acquired its assets. After the acquisition, Pixar could be considered as having no assets. Like occurred when Beckett acquired Voldy. Yet Pixar was far from meager, failing, insolvent, or bankrupt before it was acquired (remember Toy Story?). Edited May 23, 2018 by namisgr Link to comment Share on other sites More sharing options...
Jaydogrules Posted May 23, 2018 Share Posted May 23, 2018 Just now, namisgr said: Nope. Since that would be the best case scenario, you should certainly hope so . -J. Link to comment Share on other sites More sharing options...
