Xbernaut About to Become Xyber-Not
Xybernaut looks like it's about to become no more. Sad news for some readers I expect. Hopefully a larger company like Apple will eventually start catering to this market.
Xybernaut Corporation (Pink Sheet: XYBR.PK) announced that Company management met this week with and outlined several options to the newly formed Equity Committee in the Chapter 11 bankruptcy proceeding in the United States Bankruptcy Court for the Eastern District of Virginia. The options generally involve plans for the reorganization of the Company and/or the orderly marketing of its intellectual properties and other assets. It is the overarching objective of both the Company and the Equity Committee to provide as much value as possible to the Company's shareholders. Together, the Company and the Equity Committee intend to chart a course in furtherance of their shared goals. There can be no assurance, however, that any of these options or the Company's restructuring efforts will be successful.
Brian wrote on the wear-hard mailing list:
Honestly I think their problems started when they couldn't get the price down nor the marketing to make wearables and began trying to compete in the tablet arena instead.
If they had stuck with making a real, feasable (affordable, usable) wearable system they could have cornered the (tiny) market and survived.
THEN the management problems came up.
Things certainly look tough, but maybe it's time for Xybernaut to pass the tourch to some other, more innovative company.
[ Link via the wear-hard mailing list ]