September 19th, 2012, 00:15 Posted By: wraggster
Sorry for this late post, I've promised to give the iCP2 KS 110% so the following events took place at exactly the wrong time.
Anyhow, to summarise the situation (this is relating to OP UK):
A couple of months ago Ed agreed that we should move to 1Ghz production and most of my outstanding preorders could all be 1ghz boards, this lead to a simple and perfect equation, 1 for 1. Ie sell one 1Ghz unit and we can ship 1 old preorder and 1 new 1Ghz unit.
This was actually working really well, we managed to clear some debts and ship about 100 units quickly, but then we had some large preorders cancelled unexpectedly. The people who cancelled these were not being nasty or awkward, they just needed the money back and I can understand this in the current climate. It amounted to ~100 units.
They had to be refunded, and it had to happen at just the wrong time.
Fortunately we are able to claim back quite a lot of tax on those refunds, about $15,000-$20k.
That will recover the situation somewhat, but we have to be very careful, it's unfortunate this has happened when we're so close to clearing the preorders, but nothing is ever easy is it?
The tax refund won't be with us until next month. Until that time orders will continue to ship but slowly as we very very carefully recover, we have a lot of 600Mhz units to sell, which I'll put up at the 'classic' price to keep things going, paying the bills etc.
At the same time Eds sales have been slower than expected, so no free units are currently available.
I hope you can help us though this, we are frustratingly close to clearing the old original orders (we need to sell about 400 more units to do it).
Don't worry - there is a plan to solve all this which I and Ed are nailing out, I'd wanted to wait until it was a clear and detailed plan but a lot of you are wanting information now, and while the above might be worrying, please don't go off on crazy tangents until the solution is detailed.
We're pretty good at solving these things now, we are fixing it.
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