LUCY - Der Digitale Buttler

[Percy]

Insolvenz:

Dear backers.

Last week the shareholders have decided to send this company into liquidation including all its assets and values. Unfortunately we were not able to convince them to give us additional funding to finish the project under the given circumstances. We have tried to find a solution with our suppliers, the teams, the patent owners and all those who are not delivering on the previous agreed terms and without their help we were not moving forward at all.

What does that mean for everybody? Sending a company into liquidation means that the company and all its assets are now under supervision of an attorney until all open issues are sorted. The attorney will take ownership of the negotiations and has by law more rights to enforce solutions that please all participants. The attorney has not been appointed yet but the process has started and here in Germany it usually happens fast. The complete liquidation must not take longer than a year here by law. The reasons for this step are the following:

1. We want to make sure that everything is done correctly and under supervision so we do not run the risk of taking wrong decisions at any point.

2. We have been trying to get the money back from the providers for more than 6 months now and we have come far. An attorney has a much better leverage here and we hope that he can get your money back from the firms that did not deliver so you can get fully refunded.

3. Sending the company in liquidation also allows us to use the remaining funds to refund the remaining backers soon. Once we have information about this we will let you know.

The main goal remains - we want to recover the outstanding funds and refund you backers. We are very sorry this had come so far and we keep concentrating our efforts to keep you with the least possible harm.

The LUCY team