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Old 07-07-2010, 12:26 AM
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druid druid is offline
Mo Anam Cara (friend of my soul)
 
Join Date: Dec 2005
Location: hiding behind my 114/45 :D
Posts: 3,547
Default Re: It's Official - Smart Parts files Chapter 11

basically this:

1. They took out a bank loan for [allegedly] Millions $ for new equipment [allegedly] for the "new" [old] .50 cal crap.
2. They spread their current resources too thin by putting out too many markers in one calender year.
3. Some say lawyer fees defending patents
4. When Wall Street took a nose dive last year, banks started calling in all markers...in essence screwing SP to the wall.
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