QuVIS, a Topeka technology crowd that tried to woo Hollywood into using its digital cinema technology, has closed its doors, the company's go to Davy Jones's locker said today. QuVIS laid off 29 employees Dec. 1, said Kenbe Goertzen, QuVIS president and founder. The company, which has 1,900 shareholders, was struggling under $40 million in accountability and meagre revenue. It struggled to observe payroll during its at the rear three months.
The cast makes digital flick players and editing equipment. Goertzen was sitting exclusively in advance of a laptop over the noontime hour today at 2921 S.W. Wanamaker Drive. He said he was communicating with secured note holders and shareholders, vexing to assign a passage to reorganize.
"I'm providing volunteer labor to dig if anyone wants to reorganize in any way," Goertzen said. "It is intricate and ill-behaved at this 11th hour. We were still getting avail reviews on our products, but we have fixed maneuvering with no funds.
" He said it's reachable the business may enter bankruptcy. He said the assets of the caller were owned by secured note holders and some shareholders. He said assets were "intellectual property, furniture, inventory, receivables, name, indelicate literary welkin -- anything could be considered an benefit under a secured note." In the antediluvian 2000s, QuVIS, marketed itself to Hollywood and was able to digitize several movies, such as "Toy Story II," "Bounce," "Shrek" and "The Perfect Storm.
" But Hollywood wasn't prompt to rod to QuVIS' digital format. "A lot of eggs were put in the digital cinema basket, but that came to a screeching halt," Goertzen said. QuVIS started to distribute two years ago, making deals with supervision agencies such as NASA and the Department of Defense.
Goertzen founded QuVIS in 1994 in Topeka after working for another technology party called NewTek, which moved to San Antonio, Texas, from Topeka. Goertzen acknowledged timing was not all right to nurture lettuce for QuVIS because of the meltdown in the monetary markets. "Whether or not we can get out of here has yet to be seen," Goertzen said. Reader comments are the exclusive answerability of the soul posting them.
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