Intransa Wind Down Investigated

By Carlton Purvis, Published Apr 23, 2013, 12:00am EDT (Info+)

While we have been reporting for more than a month about the failure of Intransa, there is still no official public announcement. Indeed, visitors to their website who did not know better, would simply assume that everything is just fine. However, we have obtained an internal document from Intransa's 'business advisor' and conducted an interview with them about how the company is being wound down and what is happening to its assets.

We have confirmed that Intransa, Inc., a Delaware company, i.e., the Intransa you know, has transferred all of its assets to a new California company named Intransa, LLC, for liquidation to pay off its debt (according to a letter mailed to creditors this month). The official name for what is happening is called an "Assignment for Benefit of Creditors," an alternative to bankruptcy. Intransa and Intransa, LLC have “no corporate affiliation ... despite their similarity in name,” according to the letter.

*** **** *** ****** * *** weeks ***, *** ****** ****** *** has **** ******** ****************** ******* * **** ** *** letter, ********* ** ******** ********, ***,*** ********** **** ******** *** ************. **** ***** *** ******** *** much **************** **** ** ********, *** ** do **** **** *** ******* *** received * ***** **** $*** ******* ********** ******* *** *****. *******, ** ****** that *** **** ** ****, ***** their ******* *********. ********* **** ***** ********* to ****** ****** *** *******.

***** **********'***?

**** *********************** *** *** ** * *** company ************, ********* **************** *** ******* **** ** ******************************** ***** **** ******* *******************. *** ******* **** **** ** owns ******************* ****** ****, *******, ******** ******** **************** **** “******* ******” *******************'************* ******** *** *** *** ** them. *** **** **** **** ************ property *** **** ** ** *********** third *****.

Address *************

** *** **** **** ** ***** that*********************** *** **** ****** *******. **** same ******* ** *** ******* *** Sherwood ********. **** **************** **** *** ******** **** ** went *****, *************** **** *** ***** ***** ** took **** ***********************.

********* ***** ******/********

*********************** ******* *********** ******** ****** ********* ***** *** verify *** ******** ************'************* ******** ** ***** ******* ** be * *********** ** **** ** being *******. **** ***** ****** *** well******** **** ** ******* ******** ** the ******. 

Comments (4)

Whew, dodged that bullet! I inverviewed with them about a year ago or so, and something just didn't smell right. Glad I didn't move over!

Same here... Interviewed extensively with Tom O'Leary last year, fielded several aggressive offers from them- they REALLY wanted me. Thank GOD I didn't move on it. Funny, I feel equally as relieved that I didn't take the big role aggressively offered to me at Vicon... As if THAT isn't a dying star.

That's funny, I also let Vicon buy me lunch about 5 or 7 years ago. I think just about everyone in this industry has the same resume, just put your name on top!

Vicon was a dying star 5 years ago, but I turned them down because the VP or Director or whoever it was across the table from me was a buffoon. No way I would work for him.

@ Both Undisclosed

Perhaps you guys could have saved Intransa? Good point about the Vicon Buffoon though - you will never learn anything from an idiot nor will you teach them anything.

Login to read this IPVM report.
Why do I need to log in?
IPVM conducts reporting, tutorials and software funded by subscriber's payments enabling us to offer the most independent, accurate and in-depth information.
Loading Related Reports