“There is a good reason for that silence over the last five months: the company is, for the time being, effectively out of money. ‘The situation that we’re at right now is that things are turned down to sort of a hibernation mode,’ Carmack said Thursday evening at the QuakeCon gaming conference in Dallas. ‘If we don’t wind up landing an investor, it’ll probably stay in hibernation until there’s another liquidity event where I’m comfortable throwing another million dollars a year into things,’ he said. Funding Armadillo, he said, has ‘always been a negotiation with my wife,’ he said, setting aside some ‘crazy money’ to spend on it.”
http://www.newspacejournal.com/2013/08/01/carmack-armadillo-aerospace-in-hibernation-mode/
Related posts:
Canadians Panic As Food Prices Soar On Collapsing Currency
Homeland Security to require social media passwords from US visitors
DoD Training Manual: ‘Extremist’ Founding Fathers ‘Would Not Be Welcome'
'The Fed Is Trying Like Crazy, But Nothing It's Doing Can Save The Economy'
Dutch court rules in favor of unblocking Pirate Bay as ban ‘ineffective’
Peter Schiff Was Right - 'Taper' Edition
Pentagon Plan for Female Draft Registration Moving Forward
New Jersey kicks out Sandy volunteers because they aren’t unionized
What Forced Separation Feels Like
The Missiles That Brought Down TWA Flight 800
UN Calls for Decriminalization of All Drugs
Visit the Wrong Website, and the FBI Could End Up in Your Computer
Should Cities Be in the Business of Issuing Debit Cards? [2013]
“Snowden Effect” in Action: NSA Authority to Collect Bulk Phone Metadata Expires
Chris Martenson: Official Gold Numbers Don’t Add Up