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Jack Squat
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060708
disclamer wrote:
Aristophanes wrote:
By the numbers, at an avg. US$30 per game times 235,000 copies we have gross sales revenues of US$7 million and change.


That's not really gross for Eagle, who probably receive about 20-25% of MSRP per game - about $1.75 million, give or take.


And spread out over the years in which those games were produced, as well.

Aristophanes makes such an effort to sound reasonable--yet he's been accused in another thread of having an agenda against Eagle Games (in part because he's given four Eagle games a rating of 1), and his persistent misinformation in this thread does nothing to dispell those suspicions.
Gavin Wynford-Jones
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05060708
RoamDog wrote:
After having made multiple attempts through multiple channels to obtain audited financials, detailed asset list, and copies of licensing contracts I have yet to even get a phone call returned. At this point, I have to conclude that this is not really a public auction, but rather a private sale that has been advertised publicly to comply with UCC requirements. I must admit it is surprising that the Amcore bank does not seem more interested in recovering maximum funds possible (although I suppose if the bank itself is only on the hook for 75K, then they may not care if a higher amount could be obtained to satisfy other (non-secured) creditors).


I would have thought a complaint with the Illinois Bar is therefore in order...

Failure to provide the required information would invalidate the auction under French law. I have no idea about the US. If, furthermore, it was proved that it is, in fact, a private sale, the bank would also forfeit any right to reimbursement of the debt. They should be thankful they're not in France!

Gavin
Innovan .
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The top match for "Jamrozy" in google currently is a Wladyslaw Jamrozy who got in some legal troubles for "finacial irregularities" when he was President of PZ USA in November 2005, the same time Eagle Games hit its investor snag.

I wonder if this is the same Mr. Jamrozy who is now administering the liquidation of this software title himself but is too incompetent to even answer the phone. If so, it's times like this you're glad to have a corporation to protect you from your investors and that it only costs $400 to start a new one.

http://www.opcofamerica.org/press_freedom/letters/letters/11...
Last edited on 2006-08-05 00:19:53 CST (Total Number of Edits: 4)
Glenn Drover
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Andy Jamrozy is an officer at the bank and has no affiliation with Eagle Games. Not only is this a true public sale, but the bank has a vested interest in creating a competitive bid.

While I don't know the particulars of why Mr. Jamrozy hasn't gotten back to someone, I can only imagine that he has been inundated with calls (some from real bidders and some from people who have no real intention or ability to bid, but are just curious).



galen Carter-Jeffrey
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04
Out of curisisty, how many people can really be interested in paying that much for a board game company?
Jeff M
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0507
Hi Glen,

I would surely hope you know what exactly is in the lot... ie.

inventory and all tangible and intangible property rights of the Borrower arising out of, or relating to, its ownership in certain of its inventory, including all related trademarks, trade names, copyrights, licenses, contracts, trade secrets and patents (collectively, the Collateral) of the Borrower

So how about letting us know? (that would surely reduce the amount of load on Mr. Jamrozy by calls from the curious)

It's not like the info is confidential since in theory it is available to anyone (assuming Mr. Jamrozy returned phone calls to the geeks here who have called).
Budley wrote:
Andy Jamrozy is an officer at the bank and has no affiliation with Eagle Games. Not only is this a true public sale, but the bank has a vested interest in creating a competitive bid.

While I don't know the particulars of why Mr. Jamrozy hasn't gotten back to someone, I can only imagine that he has been inundated with calls (some from real bidders and some from people who have no real intention or ability to bid, but are just curious).
Douglas S
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So what happened?

Who won the auction?


etc
C Lloyd
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Yes... Anybody know any details yet. The suspense is killing me. :what:
Douglas S
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236 messages and the thread died. What happened?

What happened with the August 4th auction?

galen Carter-Jeffrey
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04
I would like to know too.
Surya Van Lierde is pure Eurosnoot and proud of it!
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08
I guess we might get to know more next week?
galen Carter-Jeffrey
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We'll know when pirates! is released.
C Lloyd
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Hah! Good one. :p
Robert Cannon
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0405060708
Duglis wrote:
236 messages and the thread died. What happened?

What happened with the August 4th auction?



We await anxiously the results of the auction.

So, is 236 messages the longest thread in BGG?
Luca Iennaco
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0405060708
robcannonsoftware wrote:
So, is 236 messages the longest thread in BGG?

No. For example, the recent "microbadges" thread has 488 now.
Marshall P.
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040506070809
robcannonsoftware wrote:


So, is 236 messages the longest thread in BGG?


No, occationally werewolf games run into the 2000's. This is the longest one and it ran 3499 posts.

http://www.boardgamegeek.com/thread/79907
Douglas S
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Ok. It is Monday. What happened Friday?
Jeff M
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0507
Duglis wrote:
Ok. It is Monday. What happened Friday?

Possibly the wait is because the bank has one business day to reject even a winning bid, which may mean we'll hear something tomorrow?
Douglas S
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That's possible. You're right.
Joshua Ostrander
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06
Well its Tuesday now... I still haven't heard anything. The suspense is killing me! Eagle is(was) won of my favorite up-and-coming game companies, I hope whoever bought it will somehow continue to work with Glenn and Keith (although that is probably a long shot.)
Dominic Crapuchettes
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06070809
Eagle Games » Forums » News
Re: Eagle Games financial trouble rumours
That Eagle games owed at least $1 million to various parties is not speculation. They owe money to us (North Star Games), to Uberplay, to Donahoe Digital (the texas hold-em computer game), to several manufacturers, to several banks, to personal investors, to most of every website and magazine that they put ads in, and etc.

Where Eagle goes in the future is speculation. Not even Glenn knows that right now. He is trying his hardest not to lose control of the company but his options became very limited once the house of cards started to fall on all sides of him.

It looks like The Age of Empire III will come out but I am not sure who will be the publisher. The game is pretty good. I played it with Rick Thornquist and Glenn in February at Toy Fair. Pirates is still a distant dream. At least it was in February. The only game right now that might turn into Pirates was developed by the same group that developed Bootleggers. The last I heard, it still needed work.

Keith will still be running the webstore. I thought it was to try and re-coup some of the money that he is owed but I am not sure of his goals now that I read his earlier posts.

Chuckerman, one of the manufacturers that Eagle owes money to, made the first bid on the Eagle assets. I have a feeling that his company will manufacture Age of Empire III but I don't know what publishing label it will be under. Even after declaring bankruptcy, I don't think there is any law that would keep Glenn from starting a new board game company with another name. He has already been thinking about new company names.

I wish I knew more. I think we'll all just have to wait to see what Glenn decides to do. As for the money that is owed by Eagle, no reasonable person can see how everything will ever be repaid. Only in Glenn's dream world is this ever a possibility.

A lot of us have been hurt by Eagle's lack of transperancy. Glenn is a sales person. To him, the ends justifies the means. And everything would have been ok if what he expected/hoped actually happened. Unfortunately, things did not go as he expected/hoped and his untruthful way of dealing with people meant many people were not able to make their own decisions about the risks involved.

For instance, Wits & Wagers was not being shipped for over 1 month before North Star Games was informed about it by someone else. When I asked Glenn about it at Toy Fair, he adamently said that was not true and that games were being shipped. Five months later we learned for certain that games were still not getting shipped. Why? Because Eagle never paid the manufacturer for them (or the shipping/warehousing company for that matter). This was the final straw for us. We could not continue doing business if our games were not getting shipped. We finally had to send Eagle a termination notice outlining the many ways in which they had breached our contract.

Now North Star Games is teetering on bankruptcy. If Glenn had been honest with us (on this an 50 other accounts), we could have prepared better for this situation. Our survival is now 100% determined by whether we can raise money over the next few months. We have several interested parties, but our time horizon might be too short for the amount of money that we need to raise.

Anyhow, this is my version of what I've seen take place. I'm sure the official Glenn version will come out at some point in the future. I just hope it comes with many appologies for his lack of honesty (with himself and with others) to the people and other companies that he worked with. Glenn is still the same likable person that he always was. He will pick up the pieces and find a way to make things work again. But for now, things are really tough for him. His whole world came crashing down and there was nothing he could do to stop it. I imagine he will continue to hang low until he picks the pieces back up again.
Jefferson Delugachecci
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0506
domcrap wrote:
That Eagle games owed at least $1 million to various parties is not speculation. They owe money to . . .[removed others] every website and magazine that they put ads in, and etc.


Thats probably what Aldie was referring to . . .
galen Carter-Jeffrey
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04
Finally we get the whole story.

I wonder why he wouldnt pay the printers for Wits & Wagers.
Gavin Wynford-Jones
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05060708
galeninjapan wrote:
Finally we get the whole story.

I wonder why he wouldnt pay the printers for Wits & Wagers.


More likely, he *couldn't* pay if there were cash flow problems. It's an easy trap to fall in to, but almost impossible to get out of, without outside help.

Gavin
Dominic Crapuchettes
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06070809
galeninjapan wrote:
Finally we get the whole story.

I wonder why he wouldnt pay the printers for Wits & Wagers.


This is not the whole story. To be honest, this is just 1 person's viewpoint on what has taken place and I learn more continually (like from an email 5 minutes ago of another party that Eagle owes money to). I should also be clear that this is not an official statement from North Star Games. This is simply my personal opinion.

Eagle did not pay the printers because they were running out of cash. Glenn would have paid his debts if he had the cash to do so. Instead, he had to pick and choose at which were the most important debts to payoff in order to keep the company alive.
Last edited on 2006-08-08 14:01:19 CST (Total Number of Edits: 1)
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