Hello all,
I've actually followed this thread since the beginning.
I know what a lot of you have gone through with products and refunds and Deep Core, et al and to be honest, we had our own issue with CPT at AXPONA last year. But we've always loved the products, we've used them at Trade Shows and in our lab and we think they're a good value for customers and they perform well.
To the language of the Press Release: That's just CEO-speak for publications. I'm a much more plain-spoken jerk in real life. But the terms of the deal are ironed out and all that's left is for Mark and I to sign the Purchase Agreement, which should happen once lawyers are done making things unreadable. As to why the first two deals to buy CPT fell apart, they just weren't the right deals for those partners at that time. This is the right deal for us at this time. Don't read too much into deals being discussed and falling apart. In the last 20+ years of my career, I've been a part of buying companies and of selling them. I can tell you that failed deals outnumber executed deals 5-1.
As to the terms of the deal, you're spot-on that we are buying the products that we want to add to our product line and also not buying others. This is a common type of acquisition. It leaves CPT, LLC in Mark and Lynn's hands to do other things with if they choose. And yes, it does limit our liability but that's not any different from any other acquisition. To be blunt, only dumb people buy other people's problems. That's just a good rule for life and not a commentary or editorialization on CPT!
As to Deep Core, you can rest assured that before we sell any of them, we will make sure that it's rock-solid, effective, and worth having our name and reputation on.
And for those of you owed products or refunds, we're going to be working with Mark and Lynn to make sure that every single one of you gets taken care of. We've spent six long, hard years building a reputation as a solid company that listens to, and takes care of its customers. We're not going to jeopardize that. We want to see the drama around all of this come to a swift end.
I know there is a lot of lingering anger around CPT and hopefully we can put it all to bed quickly. But it isn't going to happen overnight - we have a lot of work to do to move it from CPT into EXOGAL. Be patient and have a little trust and give everyone a chance to make things right.
Thanks,
Jeff
I've actually followed this thread since the beginning.
I know what a lot of you have gone through with products and refunds and Deep Core, et al and to be honest, we had our own issue with CPT at AXPONA last year. But we've always loved the products, we've used them at Trade Shows and in our lab and we think they're a good value for customers and they perform well.
To the language of the Press Release: That's just CEO-speak for publications. I'm a much more plain-spoken jerk in real life. But the terms of the deal are ironed out and all that's left is for Mark and I to sign the Purchase Agreement, which should happen once lawyers are done making things unreadable. As to why the first two deals to buy CPT fell apart, they just weren't the right deals for those partners at that time. This is the right deal for us at this time. Don't read too much into deals being discussed and falling apart. In the last 20+ years of my career, I've been a part of buying companies and of selling them. I can tell you that failed deals outnumber executed deals 5-1.
As to the terms of the deal, you're spot-on that we are buying the products that we want to add to our product line and also not buying others. This is a common type of acquisition. It leaves CPT, LLC in Mark and Lynn's hands to do other things with if they choose. And yes, it does limit our liability but that's not any different from any other acquisition. To be blunt, only dumb people buy other people's problems. That's just a good rule for life and not a commentary or editorialization on CPT!
As to Deep Core, you can rest assured that before we sell any of them, we will make sure that it's rock-solid, effective, and worth having our name and reputation on.
And for those of you owed products or refunds, we're going to be working with Mark and Lynn to make sure that every single one of you gets taken care of. We've spent six long, hard years building a reputation as a solid company that listens to, and takes care of its customers. We're not going to jeopardize that. We want to see the drama around all of this come to a swift end.
I know there is a lot of lingering anger around CPT and hopefully we can put it all to bed quickly. But it isn't going to happen overnight - we have a lot of work to do to move it from CPT into EXOGAL. Be patient and have a little trust and give everyone a chance to make things right.
Thanks,
Jeff