Member Info for SL100

Thanks Ifitaintbroke.

Makes a change from some of the previous over optimistic rhetoric on this BB.

Its just an opinion. Who knows if they will go private?

Any grain of hope or positivity here?

Rinocloud, an AI firm based in Cork, has closed down after its parent company, Deepverge, decided to withdraw its financial support. This decision by Deepverge comes as the company is looking to divest itself of non-core businesses due to severe financial difficulties.

The closure of Rinocloud has resulted in all 10 staff members losing their jobs. It is unfortunate news for the employees, as Rinocloud had once shown great promise in the field of artificial intelligence.

Deepverge, facing financial challenges, has been struggling to support its subsidiaries, leading to the need to dispose of non-core businesses. Rinocloud fell victim to this decision, leading to its closure.

Although the article lacks further details on the reasons behind the closure and the impact it may have on the local AI industry, it is clear that the decision to pull funding from Rinocloud has had significant consequences for the company and its employees.

This news serves as a reminder of the realities that startups and smaller companies in the tech industry can face. Despite initial promise and potential, factors such as financial difficulties can quickly lead to the closure of businesses. In this case, Rinocloud was not able to continue its operations due to the absence of financial support from its parent company, Deepverge.

It is unfortunate to see yet another AI firm close its doors, but it highlights the challenges faced by companies in this rapidly evolving and competitive industry.

https://***enwasanni.com/news/rinocloud-an-ai-firm-in-cork-closes-down-as-parent-company-pulls-funding/186535/

they paid millions for it in 2019 i believe.

Teaboy - maybe he earns that in Rupees?

Holding 300k of these. Are they worthless now or is any hope left?

Appreciate any comments on what posters feel is the prognosis for TRP over the next few months. We are funded now but at a shocking discount - renewal of licence? Possibility of a JV or farm-in? Lending financing confirmed? All a bit up in the air at the moment. Don't post often but look i from time to time. Thanks.

Gawd- what a company this is (was)!! And what were we as investors thinking? If only we knew sooner!!

Is it that bad? I think we knew it wouldn't be the greatest but still options.

Not what we wanted to hear but the end?

Hi Jez01- do you mind my asking where all this information came from? Can't see anything on the website.

Thanks

Sol001: Lets hope - 'what goes around comes around' makes its presence felt!!

I read somewhere that a well known commentator uses the prefix 'Postule' in reference to a certain individual associated with this company. Originally I thought it a little harsh... now NOT!

Thanks Michael. Greatly appreciated.

Thanks Castle for your comments. Have decided to sell a portion and retain a holding.

Will monitor etc.

Thanks.

Thanks Unitedguy- some very useful comments. Food for thought indeed.

Good research by Parkez & Shaa and nice to read the posts. But...
How could we pursue a case here? Who owns the non transferable tech and where would the money come from to pursue any case regarding patent rights etc?

Nice to see the dreams of what might have been/might be ....

Hi Castle - are you still holding these? I'm a bit nervous about holding now myself.

Could there be a turnaround? Any comments appreciated. Thanks

Well done Joe- holding 20m myself.

Mafioso - a good reasoned post.