Pulse2 Technology and Social Media News » Advate Systems http://pulse2.com Sat, 26 May 2012 21:27:32 +0000 en hourly 1 http://wordpress.org/?v=3.3.2 Johan Sellstrom Requests Bankruptcy For Global Gaming Factory X http://pulse2.com/2009/09/23/johan-sellstrom-requests-bankruptcy-for-global-gaming-factory-x/ http://pulse2.com/2009/09/23/johan-sellstrom-requests-bankruptcy-for-global-gaming-factory-x/#comments Wed, 23 Sep 2009 11:01:15 +0000 Amit Chowdhry http://pulse2.com/?p=20738 Continue reading →]]>
Global Gaming Factory X agreed to buy out The Pirate Bay a couple of months ago for $7.7 million but that deal may fall through. This is because the company was de-listed from the stock exchange because they claimed that they do have the money to acquire the torrent search engine company.

Now former Global Gaming Factory X director and board member Johan Sellstrom claims he is owed hundreds of thousands of dollars by the company. Therefore he requests bankruptcy for Global Gaming Factory X. This is because of an outstanding debt of 1.3 million Swedish kronor ($188,000) that Global Gaming owes to Advate Systems, a company that was started by Sellstrom.

Given the bankruptcy request, it will now become clear whether the deal will go through or fall through. I can’t even imagine what a headache this whole process has been with The Pirate Bay and Global Gaming Factory X. Regardless, Global Gaming Factory X shareholders deserve to know the truth.

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