It is with a heavy heart that I write this blog post. Over the past few months a series of truly unfortunate events have unfolded. The result is that we will not be able to deliver the AMP case and we are now forced to wind down the company. I could not be more crushed by this outcome or more sorry that we could not find a way to bring AMP to market. My team and I have done everything in our power to deliver AMP to you.
What happened? At the beginning of this year, a critical investment fell through. This forced the company to seek immediate alternatives. When additional investment was not forthcoming, we had to turn to finding an acquirer to help us fulfill our pre-orders. We spoke with a large number of potential buyers and ultimately found one that was keen to help bring AMP to market. After several months of negotiation and receiving a letter of intent from the potential acquirer, the deal fell through at the final stages. This was the final blow that has now forced us to close our doors.
Four years ago I started SoundFocus to create technologies that would make hearing disability a thing of the past. This company has been my life. I have worked tirelessly to make this vision a reality and deliver AMP into your hands. I wanted to empower people to use the devices they already own to improve their hearing and their lives. I’m disappointed that we couldn’t produce a better outcome for those who supported us the most: our pre-order customers, our investors, our vendors. Everyone who supported us was supporting our vision of helping the world hear better.
We are now forced to wind down the company through a formal bankruptcy process. Again, we are incredibly sorry about this outcome and we will be doing everything that we can to support this process. Moving forward, future updates will only be published here on our blog: https://medium.com/@AMP.
Thank you again for your support and understanding.
Sincerely,
Alex
