(Topic ID: 190486)

DP Values Your Advice on TBL - Vote Here!!

By RTR

6 years ago


Topic Heartbeat

Topic Stats

  • 77 posts
  • 31 Pinsiders participating
  • Latest reply 4 years ago by Coz
  • Topic is favorited by 4 Pinsiders

You

Linked Games

Topic poll

“Should DP take the deal and move on down the road as a Pinball Company?”

  • Take the deal!! 49% of a watermelon is better than 100% of a raisin!! 232 votes
    83%
  • Refuse the deal and try to retain 100% of your company, even if it delays TBL production for years. 47 votes
    17%

(279 votes)

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#1 6 years ago

Well, according to the latest DP newsletter, they took an informal advice count from their current financial partners (those of us who have prepaid for the game or have a deposit) and TBL buyers overwhelmingly told them to not take on a willing and able financial backer to help DP get the TBL's completed and to continue on as a company.

I may have been absent that day, so I thought I would conduct a poll to see if I can reproduce the results. The basic facts are:

1. DP's contract manufacturer (ARA) has not been paid to their satisfaction. No one has seen the contract, so no one can say who is at fault.
2. DP has decided not to sue ARA and to not pay them as well.
3. ARA has halted production of the games, is sitting on about 50 completed games and lot of game parts that ARA has paid for.
4. ARA has offered a way out for DP in the form of an investment in DP's company. Although the management terms are unknown to us, we do know that ARA (and ARA's parent company) would own 51% of the company

So, DP asked a bunch of us if they should take the deal. As mentioned, a few of us were absent that day, perhaps playing a pinball machine that we paid for and actually possess, who knows?

#2 6 years ago

hmmm already have more than 2 or 3 in the 'take the deal' bucket. thats weird.

#7 6 years ago

They crafted that letter to express what was in their own heads. And it shows what amateurs they are when it comes to the business side of this. They really need help and don't recognize it. If they would take the deal, it could make them 20x more successful than they would be on their own.

Frankly, I was a little surprised it was offered at 49%.

#8 6 years ago

Wow, 2 votes to refuse the deal. One was certainly eggbert, hoping to prop up his TBL value, lol.

#11 6 years ago

It's tough to give part of your company when your company is doing well and you have the world by the tail.

It's a little easier when your company is on the rocks and you have negative cash flow, but have a willing investor.

#14 6 years ago

Hey - for the record - I am for DP taking the deal and continuing on as the creative part of a fully functioning pinball company.

#15 6 years ago

Holy cow, 25 votes for Take The Deal - how can that be?

#18 6 years ago

We will let this run a couple days and I will shoot the link to Barry and Jaap.

I am sure they will want to know what everyone thinks and allow it to guide their decision making process.

#21 6 years ago
Quoted from Rarehero:

Unfortunately, anyone can vote...not just TBL customers....but yeah, I think their whole "2 or 3 people wanted us to take the deal" line was BS. Perhaps only that many EMAILED them, though....I don't think they're reading Pinside.

Voting on pinside isn't a perfect science, but DP didn't take a poll anyway. They just say what they want to say.

And besides that, even those with no skin in the game can look at the situation and have an opinion. I didn't set the poll and the narrative to slant this in one direction or the other.

#23 6 years ago

To Rarehero's point, maybe emails directly to Barry and Jaap letting them know exactly how you feel about things could be helpful. Here is mine:

Hi Barry,

I am just touching base to let you know that I may not be on the email
list for some reason. Apparently a newsletter dropped this morning
and I did not receive it. just saw someone post it on Pinside.
Please ensure I remain on the list.

In your letter, you stated that the opinions of your current financial
backers - and in case you have forgotten who that is, it us us, we, uh
not just the royal we - but specifically the early achievers. I guess
we could include all those with deposits with CT and others - were
also important in your decision making process to reject ARA's offer.

Well, frankly that surprised me. Personally I wish that you would
accept an offer from ARA and their parent company, even if you lose a
controlling interest in your company. I believe it is one of the only
ways that you guys will have a long term survival prospect and may be
able to get past this horrible predicament that you are in and
possibly produce more games in the future.

I also know that a lot more than 2 or 3 people share this opinion.
So, since our opinions are important to you, I decided to conduct a
poll regarding this. And since our opinions are so important, I am
sharing the poll with you:

https://pinside.com/pinball/forum/topic/dp-values-your-advice-on-tbl-vote-here#post-3799848

Again, I am pretty upset with you guys. I think you have ways to get
this moving and you are not taking advantage of it. You are putting
your own personal wellbeing and wishes in front of the people that
have supported you all along and in a most undude-like manner. I also
believe that if you do not work through this soon, you will run out of
money and options. Then you will have no company at all. I sincerely
hope that is not how it ends.

Regards,

Mike Hoover
334-xxx-xxxx

16
#34 6 years ago

unigroove - First of all, I don't know who is shady. I haven't seen emails, contracts or any other details. All we have see is what DP decides to share, which is magically all in their favor - they have made zero mistakes. I just know that I sent $8500 to some guys a few years ago and they haven't delivered a machine to me yet. And guess what - my deal is with DP, not ARA.

If DP is so confident in their lawsuit, then by all means, let it rip. Go for it. Just do it. Giddy-up. Getrdone. Insert dutch phrase for stop talking' and start walking'. I am sure that judge that is itching to see things in DP's favor just needs the case in front of him.

If DP has enough money to keep this ball rolling, then share the finances with us. FFS, its our money they are supposedly sitting on! Showing a positive financial position would settle a lot of this down.

The point of this exercise Unigroove, is to show that DP is not listening to to us. Their dumbass newsletter was insulting to the people that have been patient and supportive. Saying that only 2 or 3 people are for cutting a deal to get their machines is ludicrous. They just made that shit up.

Anyone on this thread that has the tiniest amount of business experience can tell that DP is over their head and needs some fucking help on the business side of things. They need a partner, an investor, someone that can handle shit like this and prevent it from happening in the first place. They are great at pinball design and creativity, but they suck at executing. Its just true.

#46 6 years ago
Quoted from TigerLaw:

Barry and Jaap would have horrendous legal counsel if they didn't protect against that in the 51% transfer agreement. The consideration for the transfer has to be getting the ordered machines completed, if they can't get that clause into the agreement then I would question their legal counsel's competency or ARA's willingness to actually do the deal at all (because it's more of a blow off if they won't make the consideration the completion of the ordered games).

I question whether they really tried to negotiate a deal or not. Their arguments make no sense.

#48 6 years ago
Quoted from epthegeek:

Because the poll is open to every person on pinside, not just people who paid for a BL?

DP said in their insulting letter to us that only 2 or 3 buyers want them to take a deal.

Even though anyone can vote in the poll, I think it's obvious that more people than just me and Rarehero want them to have a financial partner.

#50 6 years ago
Quoted from Oldgoat:

Thanks. Clearly the law is radically different than it is in the USA. Here, a change in a company's ownership has no impact on the contractual obligations of that company. I can't imagine how this could work differently. Say I start a company with my brother to build an apartment. He owns 51%, I own 49%. After six months, we want more money so he sells 2% to me, so now I own 51 and he owns 49. Suddenly, all contracts are null and void and can be renegotiated? So we renegotiate for better terms. Six months go by and I sell 2% back to my brother and all contracts are null and void? Obviously, this is taking an example to the absurd.
This is why, in the USA, many acquisitions are are pure asset deals with the liabilities left behind. Anyhow, good to know that things are substantially different in the Netherlands

Dude, don't fall for DP's misinformation or Unigroove's well meaning, but unresearched, parroting of DP's position. Companies don't ditch their obligations by selling themselves in the Netherlands.

#51 6 years ago
Quoted from icust298:

So what does that tell you?

Lol, that I may have to change the title of the thread. It could be that DP doesn't give a flying dutchman's crap about what their customers think they should do.

#52 6 years ago
Quoted from RTR:

Dude, don't fall for DP's misinformation or Unigroove's well meaning, but unresearched, parroting of DP's position. Companies don't ditch their obligations by selling themselves in the Netherlands.

In fact, if you go by what DP has said in the letter, ARA/Nivoge would own 51% of DP, not some new company. Does anyone think that an investment and change of majority ownership negates a company's obligations?

Tigerlaw or others are prob better to opine on this, but I would think that the Netherlands is a decent place to do business where contracts and rule of law prevail and can control any of these specious objections DP have expressed.

#56 6 years ago

DP continues to act as though time is their friend. This hasn't been mentioned yet, but this contract is at a standstill because of a voluntary non-payment by DP.

Every contract I have been party to has a penalty provision for late payment. If DP is wrong about their chances of prevailing in court, they are likely racking up a huge late payment penalty. It's a really big gamble they are taking on the outcome of an as yet unfiled lawsuit.

#58 6 years ago
Quoted from foxtj24:

What if is was not voluntary, but out of necessity because they did not have the funds to pay. We still are in the dark about alot here. From what I have heard they have no money left to pay ARA in the first place. They have lied in the past, and I think this is just another lie or half truth.

I used 'voluntary' loosely. No one enters a conversation about trading a majority equity position to satisfy contractual payments from a position of strength. DP is definitely out of funds or low on funds. No other reason to entertain giving away ownership unless that's all you got left in your wallet. Especially 51%. The fact they entertained it is telling.

#59 6 years ago

Bump just in case someone has not voted yet....

#62 6 years ago

I don't know all the details regarding the new owners at Highway, but I think a Highway type situation would be welcome here.

Someone coming in that has the funds and business talent to take over and - issue refunds to disgruntled, instill enough confidence to the new orders, communicate a plan very clearly, and of course, get the factory line rolling again.

#70 6 years ago
Quoted from RTR:

To Rarehero's point, maybe emails directly to Barry and Jaap letting them know exactly how you feel about things could be helpful. Here is mine:
Hi Barry,
I am just touching base to let you know that I may not be on the email
list for some reason. Apparently a newsletter dropped this morning
and I did not receive it. just saw someone post it on Pinside.
Please ensure I remain on the list.
In your letter, you stated that the opinions of your current financial
backers - and in case you have forgotten who that is, it us us, we, uh
not just the royal we - but specifically the early achievers. I guess
we could include all those with deposits with CT and others - were
also important in your decision making process to reject ARA's offer.
Well, frankly that surprised me. Personally I wish that you would
accept an offer from ARA and their parent company, even if you lose a
controlling interest in your company. I believe it is one of the only
ways that you guys will have a long term survival prospect and may be
able to get past this horrible predicament that you are in and
possibly produce more games in the future.
I also know that a lot more than 2 or 3 people share this opinion.
So, since our opinions are important to you, I decided to conduct a
poll regarding this. And since our opinions are so important, I am
sharing the poll with you:
https://pinside.com/pinball/forum/topic/dp-values-your-advice-on-tbl-vote-here#post-3799848
Again, I am pretty upset with you guys. I think you have ways to get
this moving and you are not taking advantage of it. You are putting
your own personal wellbeing and wishes in front of the people that
have supported you all along and in a most undude-like manner. I also
believe that if you do not work through this soon, you will run out of
money and options. Then you will have no company at all. I sincerely
hope that is not how it ends.
Regards,
Mike Hoover
334-xxx-xxxx

Hey dudes - I encourage everyone with a dog in the fight to email DP and let them know how you feel - good or bad. And FYI - I have received no response to this email yet.

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