The filing has nothing to do with profitability...
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I just made the assumption that since they don't have the money to pay Troy for the settlement, that perhaps business wasn't that great. Perhaps I should put away my Jump to Conclusions mat now...Quote:
From article -
After Samson moved operations to New Hampshire, the judgment was filed in Cheshire Court Superior Court last December in which a judge upheld the judgment for $933,000.
Not having the cash on hand, Samson requested to make payments over a period of time, but Troy filed a motion in Cheshire County Superior Court to seize the company's property.
Is there a chance that this is just an April Fool's joke?
I thought so too, but after seeing this: http://masscases.com/cases/app/76/76massappct575.html
I'm pretty sure it's not.
Yes, those two should have merged. That being said, the only Samson product even mildly interesting to me is their Evolution rail (they make a modified version for Rainier Arms that they use on their RUC), and even then it looks way too similar to the old-school Troy TRX rails. I think the new Troy Alpha system is a better design, and Troy makes more interesting products.
I like the Samson Evo EX rails as they are a great option to retain a FSB on a tube type rail.
They are basically declaring bankruptcy to avoid paying debt from the lawsuit. Or at least thats what I gathered.
They posted on TOS that there will be no effect on their business, as far as continuing to provide their products.
Isnt America Great?!