Today we of this office learned of the failure of our company to secure a particular tranche of funding. Now regardless of the fact that this bid for funding is a very recent development, the various other circumstances of our company make it highly likely that this represented a make-or-break point for our investors.
With this in mind we are almost certainly facing an uncertain future here. To my mind it seems that closing the doors would realize so little of the investment that it would actually cost more to declare bankruptcy right now than to continue for the time being with a strict deadline for product-to-market and perhaps the introduction of new management. So the only real option seems to be downsizing.