(Topic ID: 92436)

John Popadiuk update thread……MAGIC GIRL, RAZA, AIW…..


By iceman44

5 years ago



Topic Stats

  • 24,316 posts
  • 915 Pinsiders participating
  • Topic is favorited by 165 Pinsiders

You

Linked Games

Topic Gallery

There have been 1,696 images uploaded to this topic. (View topic image gallery).

sucks (resized).jpg
pasted_image (resized).png
bdabce9707bfa3eff92d0142c16fcb601c1ef058 (resized).jpeg
Deeproot_attire (resized).jpg
winds (resized).jpg
RAZA (resized).jpg
download (resized).jpeg
2g5x1v (resized).jpg
IMG_20161013_200354 (resized).jpg
hansonbrothers01 (resized).jpg
A33B8CA7-AD75-4E38-A815-1767E3A91C7A (resized).jpeg
D826C035-3CEF-4ADA-B80C-E04EE4B8BE8B (resized).jpeg
throwing-tomatoes-gif-1.gif
jpop sitting (resized).jpg
9E0B162E-329F-4B2E-9AB7-0FC857A196AB (resized).jpeg
expo (resized).png

Topic index (key posts)

23 key posts have been marked in this topic, showing the first 20 (Show topic index)

There are 24316 posts in this topic. You are on page 208 of 487.
30
#10351 4 years ago
Quoted from boo32:

I need to hear from GLM and the programmer.

I have largely just been mulling through the information and am still processing things as new information comes to light. I am being kept largely out of the loop, only getting information when basically everyone else does (the secret owners group is apparently only the first dream level of the Inception).

Currently my viewpoint on this whole situation has not changed any, since I have yet to be contacted by anyone other than a few concerned owners who are still looking for shreds of validation to the current situation. Unfortunately I just don't know anything more than anyone else.

My current thoughts are these:

1) I would not sign anything that waives your rights to sue or seek damages. EVER.

2) Until the "joint venture" with a known reputable pinball team is announced (and confirmed), there really isn't anything to get excited about, and all the more reason to believe that this is yet just another stall tactic that we should all be concerned about.

3) There is definitely a problem with the "need all owners on board" but ignoring the fact that the unpaid vendors/suppliers can still bankrupt Zidware and kill the whole thing.

4) I'm quite tired of the "for the love of pinball" statement being constantly thrown around. Simply because as a business owner who manufactures pinball parts, some which were made for the very same reasons that are being thrown around here (because if I don't do it, nobody will), I still have to make money at it. If I can't do that, then it's not worth pursuing, love or not.

And by various statements made by Pintasia, it would appear that they are like minded. If the numbers don't work, it's not worth pursuing. So again, hard to get excited about anything when Pintasia hasn't fully committed.

5) Apparently nobody seems to want to respond to Jim's (Applejuice) questions about the money he's owed. And that is really bad. Jim is very much the main reason why I raised my voice about the whole vendor/supplier thing. It was purely one thing for GLM or any other vendor (that can afford) to take a loss, but to nearly bankrupt a single individual out of his livelihood, that was the unforgivable act.

So where does all this go from here? I don't know. There are still too many questions that remain unanswered.

But it does lead me speculate...

Keep in mind that as an engineer, I am very much used to having to think about the "worst possible scenario", so my mind naturally keys into what every possible outcome could be. Unfortunately there is a lot of past precedence to lead to the conclusion that "ultra" collectors are the ones that are going to make out.

So to that end, I offer this as one "potential" outcome of the current state of things...(conspiracy theorists get in here!)

<conspiracy>
Don't you think it's a bit strange that all of a sudden there's a huge push to get a completed game done by June and out to Seattle without points 2, 3, 4, and 5 being addressed?

Maybe the plan isn't to save Zidware (or anyone else) at all. Maybe the plan IS to let Zidware go bankrupt (in spite of all of the behind the scenes murmuring), and that all of this is a huge stall tactic. Keep reading...

Maybe if I was an MG owner (and were still in JPop's good graces), I might want to throw some personal money in to get the three nearly complete prototypes done, get one (or more) shipped out of the state (or even better...into another country) and then let "the deal with the owners falls through" and have the wolves devour Zidware.

Seems like someone (or a couple of people) could come away with "the only known completed Magic Girl's (and RAZA) in existance", of which any would be worth a shit ton more than 16K (IE, they make their money back and then some).

Maybe, just maybe that would be my plan if I saw the writing on the wall...

One might suggest that a similar grab would occur in a bankruptcy, but at that point, you'd have a lot more people bidding for it and likely paying a lot more for it. So getting a game completed (and out of John's hands) before bankruptcy makes the most logical sense.
</conspiracy>

Okay, I gotta go mow a lawn. Will return later...

#10353 4 years ago

I love how the poster says 'Believe!'

#10354 4 years ago
Quoted from applejuice:

No letter, email, or correspondence so far received here. I do want these projects to succeed, hence myself continuing to develop the systems for as long as I could and selling my own games to keep myself going, before having to say enough is enough.

All I am looking for is for my contract agreements and unpaid invoices to be settled in full. If this can happen I am more than happy to provide any handover assistance I can in terms of what code is written, what isn't, the hardware, the os, the graphics engine etc etc so any new team can get going asap.

What Jim said. Most of us involved, myself included, want to see these games succeed, and are absolutely still willing to help if at all possible.

#10355 4 years ago
Quoted from slapshot:

Pintasia-
Who are you? I am seeing posts from WC Brandes and posts from Pintasia, is this the same person?

I was wondering the same thing.

#10356 4 years ago
Quoted from GLModular:

5) Apparently nobody seems to want to respond to Jim's (Applejuice) questions about the money he's owed. And that is really bad. Jim is very much the main reason why I raised my voice about the whole vendor/supplier thing. It was purely one thing for GLM or any other vendor (that can afford) to take a loss, but to nearly bankrupt a single individual out of his livelihood, that was the unforgivable act.

Please scroll up to Post #10343. Applejuice has disabled his PM...we tried reaching out to him. We have now posted in the above post asking him to send us a PM with contact info.

#10357 4 years ago

I just caught up on this thread. Wow. I need eye surgery now ...... Interesting to say the least.

#10358 4 years ago
Quoted from PINTASIA:

Zidware's accounting is not our problem. That is something that John Popadiuk will have to produce and he is the only one who can do that. However, if you read our post from last night, Post#10133 you will understand why we decided to move forward in this manner. Everyone can spend all the time, money and effort with attorneys to try to get money from Zidware...customers will be lucky to get pennies on the dollar at the end of the day. There is nothing there to pursue, like squeezing blood out of a stone. We realize this so we are trying to do something positive to try and make the money in order to make customers whole. This is the only way. We will work hard to get machines produced and provide 1 credits for the money given to Zidware. We do not need to provide credits, we WANT to provide credits, this is the reason we are doing it.

As for the "pennies on the dollar" at the end of the day comment, I would venture to guess it won't even amount to a "penny".

But as you see here Bill, some people will have to learn the hard way.

I appreciate your efforts in "trying to do something positive" and trying to "make customers whole"

Like so many others have said that actually have something on the line, its time to keep an open mind and at least be thankful that we have another option.

-6
#10359 4 years ago

When you get your penny back Rommy, let me know, I'll double it for you!

I'm also for John paying the maximum price, maybe you can squeeze blood out of a stone, now that would be "magic".

26
#10360 4 years ago
Quoted from PINTASIA:

Zidware's accounting is not our problem.

But it is.

As has been mentioned many times, if Zidware goes into bankruptcy, your sweetheart deal for the license is going to be looked at and more than likely invalidated by the court, as the IP/license would be an asset of Zidware that should be sold through bankruptcy, with the proceeds divided among the creditors.

#10361 4 years ago
Quoted from PNorth:

I love how the poster says 'Believe!'

raw.gif
-2
#10362 4 years ago
Quoted from PINTASIA:

This is the bottom line. We are getting the prototypes completed to hand over to a capable manufacturer to get produced (as soon as this contract is finalized, it will be announced). We will make sales for machines to new customers. Profits made from this endeavor are going back to all of the Zidware customers to help make everyone whole before we make any money.

Maybe people didn't actually read this part Bill.

You guys are a non profit venture until all of the Zidware customers get made whole.

I assume the vendors are part of the equation as well.

I think the reality will start sinking in that John is finished and has nothing.

-7
#10363 4 years ago
Quoted from RobT:

But it is.
As has been mentioned many times, if Zidware goes into bankruptcy, your sweetheart deal for the license is going to be looked at and more than likely invalidated by the court, as the IP/license would be an asset of Zidware that should be sold through bankruptcy, with the proceeds divided among the creditors.

What do you think the bankruptcy judge would do?

Opt for nothing? Or approve the license sale with the possibility of Zidware customers getting their $$ back before new company ever makes a dime?

#10364 4 years ago
Quoted from PINTASIA:

Please scroll up to Post #10343. Applejuice has disabled his PM...we tried reaching out to him. We have now posted in the above post asking him to send us a PM with contact info.

I haven't disabled my private messaging, as i get emails everyday off people. I will contact you now, though John has all my details aswell

#10365 4 years ago
Quoted from iceman44:

When you get your penny back Rommy, let me know, I'll double it for you!
I'm also for John paying the maximum price, maybe you can squeeze blood out of a stone, now that would be "magic".

Doug I may be out and made whole. Someone is buying my spot. I will of course drop all legal crap if that happens. Still gonna make good on the double offer?

#10366 4 years ago

What I'm hearing from Chris at Cointaker and mostly other owners, amongst all the garbage, is that most are willing to give this a chance.

#10367 4 years ago
Quoted from iceman44:

What do you think the bankruptcy judge would do?

I think he'll follow the law.

-1
#10368 4 years ago
Quoted from rommy:

Doug I may be out and made whole. Someone is buying my spot. I will of course drop all legal crap if that happens. Still gonna make good on the double offer?

If someone is really buying your spot then that's great and "magical"!

My double offer stands for anything you get out of litigation though

13
#10369 4 years ago
Quoted from iceman44:

What do you think the bankruptcy judge would do?
Opt for nothing? Or approve the license sale with the possibility of Zidware customers getting their $$ back before new company ever makes a dime?

lol

So you are saying a Judge would allow that complete gamble to go forward to the detriment of other creditors?? It doesn't work that way. Where was the bidding on the license? How much was paid to Zidware for the license?

-2
#10370 4 years ago
Quoted from MinusWorlds:

I think he'll follow the law.

I do too, and do what's in the best interests of the claimants.

The goal is not to return LESS to the creditors.

For that matter, a reorg could be done and everybody wiped out.

Like I said, try that route, let's see where it goes.

#10371 4 years ago
Quoted from RobT:

lol
So you are saying a Judge would allow that complete gamble to go forward to the detriment of other creditors?? It doesn't work that way. Where was the bidding on the license? How much was paid to Zidware for the license?

Exactly. This isn't a fantasy land tho many are acting like it is. This is the real world where the law will dictate what happens.

#10372 4 years ago

Here Ice, this will save me a lot of typing!

Quoted from Razorbak86:

Bill, regardless of the potential merits of your out-of-court restructuring proposal, the license agreement that you just executed with an insolvent corporation is problematic:
a) Execution date? Unknown
b) Public notice to creditors? No
c) Public auction with price competition? No
d) Arms-length transaction? Unknown
e) Valuable consideration? Unknown
If you had approached this restructuring as a stalking horse bid in a §363 asset sale, these issues would have been transparent and the transaction would have been cleaner.
Because of the inability to assess whether the license transfer was in the best interest of creditors, you may have unintentionally motivated some creditors to file an involuntary bankruptcy petition just to unwind the transaction.
As you probably know, the requirements for an involuntary petition can be easily met here:
1) Filing fee: $335
2) Petitioning creditors: 3
3) Aggregate amount of claims: $15,325
4) Is the debtor generally not paying its debts as they become due? Yes (*)
(*) John Popadiuk, May 22nd letter: "As a result of the foregoing, Zidware is facing difficulty in generating sufficient cash flow to meet its obligations as they become due. Zidware concluded that it had to have help to take the designs that had been created and get them into production or the Company would be forced to pursue a Chapter 7 bankruptcy liquidation."
So if you wish to keep Zidware and its assets out of bankruptcy, to minimize delays/costs and maximize operational flexibility, you should disclose the transaction date, consideration paid, and key terms and conditions of your license agreement with Zidware.
As you undoubtedly know, transparency is very important in distressed transactions, and this one is no exception, especially given the toxic atmosphere amongst the Zidware creditor base here on Pinside.
Alternatively, you could recast the proposal as a stalking horse bid for the assets. Frankly, that's the best way to guarantee clean transfer of title free and clear of all liens and encumbrances.

-14
#10373 4 years ago
Quoted from RobT:

lol
So you are saying a Judge would allow that complete gamble to go forward to the detriment of other creditors?? It doesn't work that way. Where was the bidding on the license? How much was paid to Zidware for the license?

lol

There are no assets. Get it? Open up the bidding process, let's go, who's standing in line to take over this mess.

The owners and people with something at stake would like a path forward, that simple.

Where is the class action suit and petition for bankruptcy? You have to have standing to sue thankfully.

-17
#10374 4 years ago
Quoted from MinusWorlds:

Exactly. This isn't a fantasy land tho many are acting like it is. This is the real world where the law will dictate what happens.

Give me a break. The dummies living in fantasy land are the ones that think you will get something out of litigation. That's utter stupidity.

#10375 4 years ago
Quoted from iceman44:

I do too, and do what's in the best interests of the claimants.
The goal is not to return LESS to the creditors.
For that matter, a reorg could be done and everybody wiped out.
Like I said, try that route, let's see where it goes.

In YOUR mind that's the best interest. That's not the reality. I'm sorry this has gone down. I really am. It sucks for you, all the people in for any of the 3 titles and for all pinheads. However, the law doesn't follow emotion and fairy land fantasies. It won't care about the love of pinball.

#10376 4 years ago
Quoted from iceman44:

Give me a break. The dummies living in fantasy land are the ones that think you will get something out of litigation. That's utter stupidity.

Dude I agree with that. I do. Of course nothing will come from litigation. Monetary wise. From a satisfaction of seeing JPop burn, absolutely.

#10377 4 years ago
Quoted from iceman44:

What I'm hearing from Chris at Cointaker and mostly other owners, amongst all the garbage, is that most are willing to give this a chance.

That's not what I'm hearing, either in this thread or elsewhere.

11
#10378 4 years ago
Quoted from iceman44:

lol
There are no assets. Get it? Open up the bidding process, let's go, who's standing in line to take over this mess.
The owners and people with something at stake would like a path forward, that simple.
Where is the class action suit and petition for bankruptcy? You have to have standing to sue thankfully.

Your statement that there are no assets is just plain wrong.

But you know that.

As far as "taking over this mess", whoever buys the IP in the BK proceeding wipes out most of the "mess" (unpaid vendors and buyers) and gets to start over. I have no clue how much someone might pay for the IP, but that's why you have an auction. You'd actually have less of a mess taking it over from BK than you have by buying it now. This should be obvious.

Arguments to the contrary are simply based on the hope that the new investor can make at least some people whole. But that hope is not based on the law.

-3
#10379 4 years ago

Any judge will approve that license so fast it would make your head spin

And then he would look at Bill and ask him why a smart business is so dumb for doing this

Yep let's open up the bidding. That's funny

-3
#10380 4 years ago

Rob, you are simply making the burn it down case

As owners with something at risk I don't want to get wiped out. Can you understand that?

I'll join you in line on the courthouse steps to put my bid in

#10381 4 years ago
Quoted from iceman44:

a non profit venture

This phrase rings a bell... where did we all hear this one recently?

#10382 4 years ago

Let us laugh at john for a minute together! just an emotional blow!

haha-you-are-poor-funny-picture-40012.jpg
#10383 4 years ago

Anyone who wants my spot ($6500 paid toward a RAZA) can have it for 75% of that. Please PM me if you are interested.

I want out. Completely out.

#10384 4 years ago
Quoted from shakethatmachine:

Anyone who wants my spot ($6500 paid toward a RAZA) can have it for 75% of that. Please PM me if you are interested.
I want out. Completely out.

you are out,you lost everything,there is no spot to sell for 75%,evry one of us will take 75%

-1
#10385 4 years ago

Burn John down. I'm all for it

People should listen to guys like Chris and Yeti who have more at stake than most

#10386 4 years ago
Quoted from pinballrockstar:

you are out,you lost everything,there is no spot to sell for 75%,evry one of us will take 75%

I'll take 74% ...

#10387 4 years ago

Dude i'll do 25%

#10388 4 years ago
Quoted from pinballrockstar:

I want out. Completely out.

hahaha,what a guy..

#10389 4 years ago
Quoted from iceman44:

Rob, you are simply making the burn it down case
As owners with something at risk I don't want to get wiped out. Can you understand that?
I'll join you in line on the courthouse steps to put my bid in

No, I'm just making it a reality check.

Of course I can understand you and others not wanting to get wiped out! Frankly, it's the only thing that makes sense in terms of why you are arguing the way you are. But the reality is that unless all vendors are made whole as well, the chances are still high that Zidware goes into BK and if that happens, this deal with Pintasia will not hold up.

And if Bill is going to make all the vendors whole as well, well that goes to what you said yourself about the judge looking at Bill "and ask him why a smart business man is so dumb for doing this?"

-2
#10390 4 years ago
Quoted from pinballrockstar:

you are out,you lost everything,there is no spot to sell for 75%,evry one of us will take 75%

Thank you. It should be obvious but apparently it hasn't sunk in yet with some

But yeah, burn it down and get nothing sounds better

John is going down one way or another

#10391 4 years ago

some are still at this stage

aa mg5.png
-1
#10392 4 years ago

Well then you might be surprised Rob. I believe getting the vendors made whole is part of Bill's plan.

He's putting significant $$ in up front to give us all a chance

The other option is he could steal it out of bankruptcy for nothing and tell us to go F ourselves

I told him that's exactly what he should do after reading some of the nonsense but he's not going to let the BS wear him down

#10393 4 years ago

there it is dude..

aa mg6.jpg
#10394 4 years ago
Quoted from iceman44:

The other option is he could steal it out of bankruptcy for nothing and tell us to go F ourselves

I vote pintasia,ice is right,Bill will get it done.
There is no alternative anyway guys...put away the pitchforks,it would be the nicest thing anybody has done for me by far!

#10395 4 years ago

I just looked at the very first few posts on this thread. There is ice and Bill right up front with very positive posts. I have to give them two thumbs up for being very positive people and now are fighting hard to make this happen. Kudos to you guys for what you are doing. I don't have a horse in this race, but I admire your positive force for good here. Keep it up guys. That is why I love this hobby. Good people trying to do good things.

-5
#10396 4 years ago

Maybe people can understand it this way Bill.

Let's all put Zidware into bankruptcy, sell the assets at auction and us creditors will get pennies on the dollar but we do get satisfaction of seeing John in flames which is already happening now!!

Then maybe the smarter thing to do Bill is just to take what you bought, for $10 and start over with the whole process and wipe us all out, officially, because you do know we are already wiped out

That sounds pretty good too. No John but we get Yeti and a manufacturer deal from one that needs to keep his assembly line going.

Ok I'll take an AIW

#10398 4 years ago

I always bet the wrong horse..

#10399 4 years ago

Thanks for the laughs Rockstar, that's hilarious

#10400 4 years ago
Quoted from iceman44:

Thanks for the laughs Rockstar, that's hilarious

at your service ice..

Promoted items from the Pinside Marketplace
$ 30.00
Playfield - Decals
Mods for your pinballs
6,995 (OBO)
Machine - Pre-order Spot
St. Clair Shores, MI
$ 6,995.00
Pinball Machine
Nitro Pinball Shop
There are 24316 posts in this topic. You are on page 208 of 487.

Hey there! Got a moment?

Great to see you're enjoying Pinside! Did you know Pinside is able to run thanks to donations from our visitors? Please donate to Pinside, support the site and get anext to your username to show for it! Donate to Pinside