OQO Inc. , For Sale or Bust?

[Guest]

[Picasso]

I have been told by a few people in the know and also just from watching whats going on with OQO from reports on this forum. OQO is attempting to sell the company. It lacks the funds to keep going, cash is tight gone and work hours have been reduced. One has to wonder if it can still meet warranty claims as it starts to buy stock to build the 2+. I'm sorry to say this, but the 2+ might be the last OQO we see made. I don't even think we will see it.

All I wanted was a higher res screen.

[macmany]

seemed that direction when dennis moore left after only one year, founders started leaving last month, rumors of a sale to a chinese company, inability to buy parts to repair units, adamg stopping his posts, nobody answering the headquarters phone and expansys dropping oqo.

[semills]

I don't doubt it at all. Seeing peoples issue with repair, shut down of foreign support centers, lack of supplies, and growing complaints surely does not give me a warm fuzzy feeling.

Thanks for the heads up. I guess only time will tell.

[semills]

One thing... I have called OQO a few times recently. They have always answered the phone. I have never had an issue on that end.

[roger]

How sad (if true) !


Would explain lack of responses as described in my draft post below:


It is hard to keep talking when no one is answering.

A selection of my unanswered questions follows.

To OQO via Knowledgebase:

Will you please change your policy for Australian customers and deal directly with them for sales and service ? (date created: 03/24/2009 12:40 AM) 


To eXpansys Australia, now
physically located in Hong Kong, by email:

Has your Australian office closed?

What arrangements are in place for out of warranty repairs of  the OQO 02
UMPC and accessories I purchased in 2007?
(sent 1/04/2009 9:10 PM)


To OQO CEO, Andy Poppel, by OQOTalk personal message:

I will do my best to participate regularly and answer your questions.

Andy

Although you will have to take time out from the OQO2+ launch, I challenge you to behave like a responsible CEO and prepare some sort of statement to the community.

From Australia, I endorse "charlieboys"'s post.
(sent April 05 2009 12:51:33 PM)


To OQO CEO, Andy Popell, by email:

Andy

Please report to customers on OQO developments as soon as possible,.

Current negativity on OQOTalk is becoming quite depressing.

See
http://www.oqotalk.com/index.php/topic,3661.msg30135.html#msg30135
as an example.
(sent 7/04/2009 2:59 PM)

[charlieboy]

Well it is a sad state of affairs. I think they managed it very badly. If they are trying to sell the business then they have made it difficult for themselves with all the negative PR going on. I would be surprised if we see the 2+. The minimum order of this from the manufacturers has to be 10,000 or something of that sort. Anything below that makes such a production run too expensive per unit. At 10k I would expect the unit cost at production will be in the order 60% of retail so ball park $10million to go into production.

[scoobie]

Well Intel seem confident the 02+ will be launching - they showcased the 02+ at their Intel Developer Forum in beijing last week

[edelson9]

Well Intel seem confident the 02+ will be launching - they showcased the 02+ at their Intel Developer Forum in beijing last week

That's good to hear. Hopefully, our fears are overblown.

[charlieboy]

I would say the 2+ hitting the streets depends on the investors. If OQO do not have the cash in their bank accounts at the moment, the investors are not going to lend it to them on favorable terms. I see a dilution in equity for the principals at the very least to get funds at the moment. I also doubt the manufacturer will give them any credit.

I guess it is possible that advance orders are good but I doubt it somehow, the bad PR hit the streets before the 2+ was announced. eXpansys will not have ordered any and Dynamism will not pay till at least 60 days from delivery. If OQO can show a full order book to their investors then it will make it a lot easier to raise the funds.

The slow boat from China takes 6 weeks to arrive. This potentially presents an interesting problem as by now the units must have been made and boxed up. So if OQO cannot pay for them I wonder where that leaves the manufacturer. Who actually owns them? The design obviously belongs to QOQ but the units remain the property of the manufacturer till paid for. If OQO goes into chapter 11 these units will be in a very strange limbo. I have never come across this scenario before.

If I was in OQO's position I might try and negotiate a deal with the Chinese manufacturer to see if I could swap some equity in OQO for the manufactured units. This might explain the Chinese buyer of OQO stories. They would be an obvious investor. As they have few options if OQO does not have funds to buy the units.

I know I would not invest anything in OQO in the current market. 2 years ago I could not have got my money in there quick enough, but today we have a very different market. I really hope I am wrong. Also I suggest if anyone gets a 2+ keep it in mint unopened condition it will be a collectors item quite soon as there will not be many about.

All of the above is pure speculation, I have no inside knowledge of OQO.

[Ox]

Hopefully someone from OQO will post on this thread soon to clarify the situation. My best wishes to OQO, but obviously no news is bad news, given the circumstances. OQO, are you listening? Please, enlighten us.

[edelson9]

Also I suggest if anyone gets a 2+ keep it in mint unopened condition it will be a collectors item quite soon as there will not be many about.

I don't know. If someone buys a shipload of 02+s for pennies on the dollar because they were manufactured but not paid for by OQO, then there might be a great many of them for sale at very cheap prices. Also remember if OQO goes out of business there won't be anyone around to repair the units. My 02s seem to have broken at  within a year of my purchase. It takes a strong stomach, and checkbook, to buy a unit that will be a paperweight if it breaks.

[Picasso]

From what we have seen OQO has never sent over "Boat Loads" Everything that has been sold was shipped direct from Asia to the end user.

[2disbetter]

crap...

i really hope they get the funding... i need the oqo.

2d

[edelson9]

From what we have seen OQO has never sent over "Boat Loads" Everything that has been sold was shipped direct from Asia to the end user.

Maybe 2 is a boat, and 3 is a boat load?   

[tnkgrl]

OQO have been corresponding with me about a review unit... I'm getting the feeling that they are still on track to launch the model 2+!

Then again, it's been a while since I've talked to them in person.