OnLive's debt was $30-40 million, insolvency group reveals

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It's now been revealed that OnLive's debt was somewhere between $30 million and $40 million before last week's collapse and subsequent reincarnation.

Last week, the California-based company's assets were transferred to Insolvency Services Group. Those assets were then sold on to Lauder Partners, LLC on the day OnLive ceased operations. Yesterday, ISG's CEO Joel Weinberg revealed the extent of OnLive's arrears to San Jose Mercury News.

"It was a company that was in dire straits. It only had days to live in terms of cash flow and the like," Weinberg disclosed, "Something had to be done immediately or there would have been a hard shutdown, which would have been a disaster."

The newly acquired company will continue to run under the OnLive name, but it had to lay off at least half of its 200 employees as part of the process. It now also appears likely that investors HTC and British Telecom will write off their investments. Weinberg also revealed that he expects investors to only receive 5 to 10 cents per dollar owed.

Posted: Aug 23, 2012 10:26 am

Source: http://www.joystiq.com/2012/08/23/onlives-debt-was-30-40-million-insolvency-group-reveals/

Comments

GoldenDiamondsPosted: Tue. Aug 28, 2012

Aced
TTGMuted
GFX-
GoldenDiamonds
Mortar OnLive is a platform on the computer which allows you to purchase trials of games and purchase the full game (If a trial was purchased before, then the price of that is knocked off the cost of the full game).

You can also save and load clips that you have saved, and even a rather interesting game viewer sort of system where you are able to watch other people whilst they're playing.

I personally think its better to stick with the main 3, Xbox, PlayStation and Computing, not a fail attempt at binding them all together.

Still sucks though!

Yeah it does......

it wasnt a computer platform it was a console...

It was actually both wasnt it?

i dunna...

AcedPosted: Tue. Aug 28, 2012

TTGMuted
GFX-
GoldenDiamonds
Mortar OnLive is a platform on the computer which allows you to purchase trials of games and purchase the full game (If a trial was purchased before, then the price of that is knocked off the cost of the full game).

You can also save and load clips that you have saved, and even a rather interesting game viewer sort of system where you are able to watch other people whilst they're playing.

I personally think its better to stick with the main 3, Xbox, PlayStation and Computing, not a fail attempt at binding them all together.

Still sucks though!

Yeah it does......

it wasnt a computer platform it was a console...

It was actually both wasnt it?

TTGMutedPosted: Mon. Aug 27, 2012

GFX-
GoldenDiamonds
Mortar OnLive is a platform on the computer which allows you to purchase trials of games and purchase the full game (If a trial was purchased before, then the price of that is knocked off the cost of the full game).

You can also save and load clips that you have saved, and even a rather interesting game viewer sort of system where you are able to watch other people whilst they're playing.

I personally think its better to stick with the main 3, Xbox, PlayStation and Computing, not a fail attempt at binding them all together.

Still sucks though!

Yeah it does......

it wasnt a computer platform it was a console...

ChugJugPosted: Mon. Aug 27, 2012

GoldenDiamonds
Mortar OnLive is a platform on the computer which allows you to purchase trials of games and purchase the full game (If a trial was purchased before, then the price of that is knocked off the cost of the full game).

You can also save and load clips that you have saved, and even a rather interesting game viewer sort of system where you are able to watch other people whilst they're playing.

I personally think its better to stick with the main 3, Xbox, PlayStation and Computing, not a fail attempt at binding them all together.

Still sucks though!

Yeah it does......

GoldenDiamondsPosted: Mon. Aug 27, 2012

Mortar OnLive is a platform on the computer which allows you to purchase trials of games and purchase the full game (If a trial was purchased before, then the price of that is knocked off the cost of the full game).

You can also save and load clips that you have saved, and even a rather interesting game viewer sort of system where you are able to watch other people whilst they're playing.

I personally think its better to stick with the main 3, Xbox, PlayStation and Computing, not a fail attempt at binding them all together.

Still sucks though!

PheanPosted: Mon. Aug 27, 2012

Mortar OnLive is a platform on the computer which allows you to purchase trials of games and purchase the full game (If a trial was purchased before, then the price of that is knocked off the cost of the full game).

You can also save and load clips that you have saved, and even a rather interesting game viewer sort of system where you are able to watch other people whilst they're playing.
Thank you for that my good sir.
I personally think its better to stick with the main 3, Xbox, PlayStation and Computing, not a fail attempt at binding them all together.

GoldenDiamondsPosted: Mon. Aug 27, 2012

Voxxi
Mortar OnLive is a platform on the computer which allows you to purchase trials of games and purchase the full game (If a trial was purchased before, then the price of that is knocked off the cost of the full game).

You can also save and load clips that you have saved, and even a rather interesting game viewer sort of system where you are able to watch other people whilst they're playing.

I personally think its better to stick with the main 3, Xbox, PlayStation and Computing, not a fail attempt at binding them all together.

No it really isn't worth it lol
Oh, I mean, it sounds alright, but from the looks of it, its not alright :P

VoxxiPosted: Mon. Aug 27, 2012

Mortar OnLive is a platform on the computer which allows you to purchase trials of games and purchase the full game (If a trial was purchased before, then the price of that is knocked off the cost of the full game).

You can also save and load clips that you have saved, and even a rather interesting game viewer sort of system where you are able to watch other people whilst they're playing.

I personally think its better to stick with the main 3, Xbox, PlayStation and Computing, not a fail attempt at binding them all together.

Oh, I mean, it sounds alright, but from the looks of it, its not alright :P

GunsPosted: Sun. Aug 26, 2012

M60
tacticdesignz Onlive is a website which allows ps3 and xbox players to play against each other

No it doesn't ?

I LOLED so hard

GoldenDiamondsPosted: Sun. Aug 26, 2012

Mortar OnLive is a platform on the computer which allows you to purchase trials of games and purchase the full game (If a trial was purchased before, then the price of that is knocked off the cost of the full game).

You can also save and load clips that you have saved, and even a rather interesting game viewer sort of system where you are able to watch other people whilst they're playing.

I personally think its better to stick with the main 3, Xbox, PlayStation and Computing, not a fail attempt at binding them all together.

Thanks, now i know what it is

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